What’s in YOUR closet?
As Yogi Berra once famously said, “You can observe a lot just by watching.” Last week, I spotted this Tweet from local sports blogger Matt Sebek:
“ @MattSebek Matt Sebek
MLB authentic PUJOLS jerseys at Sports Authority: $29.47. Marked down from $199.99. -- http://pic.twitter.com/9rtj3FCq “
An 85% drop in value, nearly overnight? People say that the stock market has been tough sledding in recent years! I doubt we will see many Pujol’s jerseys at future Cardinal’s games.
I realize that Matt’s “thing” is sports, and his Tweet was a commentary regarding Albert Pujol’s recent departure from the Cardinals, not personal finances. But his post also got me thinking: How many “Pujols jerseys” do I have hanging in my “closet”?
Not literally, mind you, but figuratively: How often have I spent money on things that provided immediate pleasure but little or no future value? How might my current financial picture be different if only I had redirected a small portion of that cash flow into items that held their value, or even GREW in value, especially when I was younger?
Don’t get me wrong-life is all about balance. Financial security isn’t much good if you are miserable. Sometimes you need to grab a few friends and go out for a great dinner, or catch a ball game, or play a few holes of golf. The memories and the relationships are priceless, and laughter is good for the soul!
Still, I can’t help but wonder if -for many of us-the pendulum has swung too far towards “happiness now”. It’s easy for this to happen, as we are all influenced by the world around us. As a CFP® professional, I think it is essential that I not only “talk the talk”, but also follow my own advice. I’m going to make some time this week to scour my personal budget for “Pujols jerseys” that can be eliminated, and put the extra money to better uses.
What’s hiding in your “closet”? How do you strike a balance between “happiness now”, and financial security? Share your thoughts with me on Twitter at @jpgriffard, or via email at joe@jpgriff.com . I look forward to hearing from you!
Joe Griffard, CFP®
(Acknowledgement to Matt Sebek for inspiring this post, and thanks Matt for letting me use your Tweet. Matt is a pretty witty fellow; you can follow him on Twitter at @MattSebek, and you can see more information here: http://MattSebek.com )
The opinions voiced in this material are for general information only, and are not intended to provide specific recommendations or advice for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing.
Matt Sebek has no affiliation with LPL Financial nor does LPL Financial endorse the views/opinions expressed by this invididual.
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