travel

Life and Savannah, Georgia

© Can Stock Photo / SeanPavonePhoto

Traveling recently, I had the chance to spend 24 hours in Savannah rather than drive right by. This is a new thing again for me; my life has been too full for side trips most of the last few years.

At best, 24 hours does not even scratch the surface of a city like Savannah. The largest historic district in the country included markets, churches, temples, homes, and mansions. Now it is also home to museums, shops and restaurants.

The unique and beautiful squares or parks, more than twenty, were originally laid out from 1733 to 1801. Many have fountains or statues or otherwise commemorate notables from history. Ancient and stately oaks grace the squares, and indeed the entire city.

The river features shops, entertainment, and dining housed in the centuries-old brick buildings originally used to service a working waterfront.

In preparing for this day, it took some time to understand what all there was to see and do. And then, how to make the most of it? Trolley tours, boat tours, guided walking tours, solo hiking, or some combination?

(I won’t bore you with my decisions; they suited me. Yours would be, or will be, different.)

The task of figuring out how to spend 24 hours in Savannah, Georgia is akin to how we live our lives. When we choose to focus our time and energy, we forsake everything else for a time. And we can never get around to all that the world offers. And the span of our lives in the world is every bit as limited as 24 hours in Savannah.

I did learn that with planning you can see a great deal in Savannah in 24 hours; I am still in the process of learning that with planning you can do a great deal in life.

Clients, if you would like to talk about this or anything else, please email us or call.

Confusion, Wealth, and Options

© Can Stock Photo / bruesw

A confession: I am confused about a fairly important life question. Some of you have been, or will be, facing similar conundrums.

You may be surprised, depending on how well you know me. Clarity is something I strive for.

When I am home in Louisville Nebraska, there are no traffic lights between my modest abode and my shop at 228 Main Street, a ten minute walk if I choose. Life is simple, inexpensive, and easily within the means of future benefits from Social Security and a small pension.

I also have a home in Florida which is not particularly modest. We chose it a few years ago, when I was part of a ‘we.’ It met the needs of my high school sweetheart as she worked to extend her life in the face of serious health challenges. The original rationale for the decision no longer holds, as Cathy passed away last summer.

You may recall our original decision a decade ago to adopt a snowbird lifestyle, in the hopes of making my plan to work to age 92 a sustainable one. I had no appetite then for decades more of Nebraska winters.

Now I am confused.

• I still have little appetite for Nebraska winters.
• The Florida home is more than I need.
• It takes money to maintain a second home.
• Where I will want to spend how much time in the future is something I cannot answer now.

What is needed to cure my confusion is time. The old rule of thumb about dealing with wrenching personal change is “don’t make any big decisions for at least a year.” Now I understand this rule, after giving myself whiplash trying to make plans prematurely.

The answers will become clear with time.

What gives us the time we need is money. I have some; you have some. Money for its own sake has little value, but the time and flexibility it provides is priceless.

Clients, if you would like to talk about this or anything else, please email us or call.


Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.

All investing involves risk including loss of principal. No strategy assures success or protects against loss.

 

Where Did the Decade Go?

© Can Stock Photo / Konstanttin

We experience life as a series of moments. The future approaches, then becomes the present for a moment, and passes into history.

The dawn of the third decade of the 21st century is upon us; the current decade is nearly history. The moments we had!

In the first days of 2010, my wife Cathy flew to Florida to furnish and outfit a newly purchased condo; I joined her after a couple weeks. We began our life as snowbirds, skipping some cold weather weeks in Nebraska. (Planning to work to age 92, we had to figure out how to have some fun along the way.)

Our Office Manager Greg Leibman agreed to help in the office here at 228 Main during my absence, January 2010. It did not take long for me to get a glimmer of the potential of that association for the business.

Our planning, disruptions, and adaptations led to surprising growth and development. We focused more tightly on investment advisory business, performed under the auspices of LPL Financial’s RIA (registered investment advisor). That side of the business now accounts for over 70% of assets, $70 million now. That structure elevates our desire to serve your best interests to a binding obligation upon us, the way we like it.

The family health challenges we worked with for most of the decade brought us to a revolution in communications, forced me to learn how to delegate effectively and figure out how to build a team to serve you. The lesson I learned from my life with Cathy, make the most of what you have, enabled us to keep things running so we had the health insurance and resources she needed in her illness.

We had more than full measures of pain and joy in the decade. That is what life is made of.

And now a new decade looms. We hope to be able to make an interesting report to you about it, ten years hence.

Clients, if you would like to talk about this or anything else, please email us or call.

Convention Time Again

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One of the best and biggest gatherings of financial professionals is coming up. LPL Financial’s annual Focus Conference presents a number of opportunities to gain education, perspective, and more.

Because we 16,000 registered representatives are free to build our businesses in accordance with our own principles and interests, a wide range of presentations are held. These are conducted by an incredible array of company and industry talent, as well as peers.

Our investment philosophy and portfolio management operations are mature. We’ll be looking for ways to enhance our productivity and speed of execution, as well as potential new research and information sources.

We have a deep interest in communications theory and practice as applied to the 21st century venues we use to keep in touch with you. Fortunately, some of the most talented people in the industry (maybe the world) will be available. They understand what we’re doing at 228Main.com, they have helped us all the way along, and we expect to make more progress on our plans for the future.

The cast of characters includes communications professionals in LPL departments, as well as specialized consultants like Scott McKain and Amy Florian. McKain is the author of ‘Create Distinction,’ a business best-seller that has inspired us over the years. Florian is an expert in helping advisors communicate more effectively with those who have experienced loss or difficult transitions. I’m looking forward to working with them again.

Over my long association with LPL, I’ve been fortunate to build close relationships with the leadership team. Most of this happened in the last four years, as many people in managing director and executive roles became readers and followers of our blog and social media. As we sort out the best structure for our business going forward, these connections are a great help.

I have breakfast and lunch meetings scheduled each day of the conference with key players on my LPL team. With all this, plus gatherings with friends and colleagues from around the country, it looks to be another exceptional experience.

Clients, if you would like to talk about this or anything else, please email us or call.

Time and Space, Compressed

© Can Stock Photo / khunaspix

In his memoirs, Civil War general and president Ulysses S. Grant wrote about the first time he rode on a train. (When Grant was a young man, trains were a new technology.) Traveling overland at the unprecedented speed of 15 miles an hour, it seemed to him that time and space had been compressed.

In our age, one might have consecutive meals on opposite coasts. A journey that first took months, then weeks, then days, takes hours in the jet age.

Time is compressed in other ways, here in the 21st century.

• New forms of media let us interact at the speed of light with dozens or thousands of people, for less than the price of a stamp.

• Email and other forms of digital messaging allow communication between people who are never available at the same time. This represents quite a productivity boost over the days of telephone tag.

• Research begins with fingertips on keyboards, virtually everywhere, instead of with trips to the library.

Necessity is the mother of invention, as they say. We had to effectively integrate these technologies into our business with you, and use them to maximum effect over the past few years.

21st century technologies have helped our old-fashioned conversations begin with more common ground, then go deeper into the topics in which you are interested. It seems to me we are closer now than ever before. This makes sense, if we are communicating more than we used to.

Clients, if you would like to talk about this or anything else, please email us or call.

Louisville, My Home Sweet Home

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Planning to work to age 92 has a side effect: there is no date any time soon after which I can do what I want. Cathy and I knew this. A decade ago we figured out that we needed to have some fun along the way. That’s how the whole snowbird plan got started.

Snowbirds are people who go south for part or all of the winter, migrating north to their homes in the spring. We began doing that in 2010, for a few winter months. It was the best of both worlds. We had our home in Nebraska to enjoy most of the year, close to friends and family, and a place to get some weeks of warmth in the dead of winter.

A couple years after we began this, Cathy’s health went south. She was diagnosed with a slew of pretty awful lung conditions. We were able to continue our snowbird routine. Her rising need for oxygen eventually made flying impossible, so we simply drove back and forth.

Three years ago, things got to where long road trips were no longer possible. She had to choose where to live. The specialists who saved her life and continued to treat her are in the south. And Nebraska winter weather could be fatal in a power outage or a stalled car. Staying in the south became a matter of medical necessity for Cathy.

At the same time, health insurance paid the bills for stuff that kept Cathy alive. My small group policy required me to maintain Nebraska residency. And I needed to be in the shop at 228 Main Street for a bit every month. (Our work for you helped Cathy, because it’s expensive to be sick.) I became a long-range commuter. Cathy could remain in the warmth and I could keep the business end going.

Cathy got extra years of life with the help of Florida weather and Florida doctors—important years, in which children got married and grandbabies were born. With her passing, I can focus again on life in Louisville, my home. I’ll be selling Cathy’s Florida house – it’s too much, and in the wrong place.

We have come full circle, back to the original situation. I’m going to work to age 92, so I need to figure out how to have some fun along the way. Bottom line, I’ll be spending much more time at home in Louisville.

Clients, if you would like to talk about this or anything else, please email us or call.