I’m a big planner. In fact, I’ve been known to be a wee bit anal when it comes to being organized. I think it’s because in my experience a lack of planning leads to undue stress, uncertainty, arguments and failure.
From my perspective as a business owner and investor this means having an estate and succession plan in place in the event that anything happens to me. I’d hate to think of the chaos that could ensue and the stress that it would cause my family if I don’t have my affairs in order.
It doesn’t have to be a crazy, complex plan but having something in place in the event of an emergency is obviously a good idea. This way your family isn’t scrambling to figure out where your stuff is or how you want things handled.
But as much as I’m an advocate for planning, I also strongly believe in living for today. Life is meant to be lived to the fullest! After all we only get one shot at it so why not have fun and enjoy it.
Don’t get so caught up in the act of growing and preserving your wealth that you neglect to use some of it to enjoy life today! Sometimes I take funds out of my business or investments so that I can have fun with it. Yes, that’s right, I said have FUN! (and yes, this means I have to pay taxes on the amount withdrawn). Sure, if I kept that $15K invested it wouldn’t keep working for me and allowing me to grow my wealth. But it could also treat my family and I to a wonderful vacation today. The time spent exploring this beautiful world and creating memories with the people that matter most to me is worth way more than whatever that $15K could do in the future.