My wife Sandy and I recently enjoyed our twice-yearly visit with our financial planner. The visit did not reveal anything alarming and was, in fact, encouraging about our financial security as we enter the early years of our retirement. Apparently we have enough to live on and, with our required minimum distributions, can even enjoy some extras in the coming years.
That night, I had a dream that says something about financial preparedness. I was attending a gathering of professional men and women in a foreign country. We enjoyed a good meal together, but for some reason the host of the meal only allowed us one glass of wine. I have no idea why he or she was so stingy.
Anyway, I wanted another, and so I asked the waiter to bring me one. He explained the one-drink minimum. I offered to pay for the additional. He presented me a bill, such as they do on cruise ships when one orders a drink from the bar. The figure for the one drink was astronomical, equivalent to hundreds of dollars.
I was miffed at the indecency of this, but I ordered the drink anyway. After I had signed the bill, the waiter brought the beverage. I was truly offended that (a) the red wine was served in a white wine glass and (b) it was only half full. I went to the bar to complain, and upon my return, I discovered that a careless customer had bumped the table, spilling what little wine there was in the glass all over the table top.
What to make of this thrilling episode in the life of a conference goer (whose expenses are surely tax deductible)?
Don’t buy overpriced items, including and especially securities. Pay attention to the ratios, readily available for study. If something costs more than it is worth, don’t buy it.
Be happy with what I have. The first glass of wine, if it is good, may well be enough. Actually a lot of our personal behavior problems that we get ourselves into would be prevented by limiting ourselves to one drink at a time. This is a judgment that I intend not to get into in this article.
Be sure that I’m getting what I am buying. If something doesn’t measure up, get rid of it. Send it back. Get a refund. Most everything has a return time, no questions asked. Use it.
Protect my investments. Cover my riskier ones with safer ones. Be courageous, but not foolish. Moderation in all things.
My dream was the same day as my appointment with my financial planner. Therefore, there is some connection. The next time I order wine, I’ll raise a glass to my conservative spending habits, and my prudence in considering carefully my plan of financial integrity.
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