Lessons from Yosemite … and How They Apply to Finances
The popular portrait of Yosemite’s valley floor as seen from Tunnel View with El Capitan on the left, Cathedral Rocks and Bridal Veil Falls on the right and Clouds Rest and Half Dome in the background (center)
I recently had the privilege of spending a week in Yosemite National Park, one of our country’s treasures and an American icon. If you have never been there, you ought to add it to your bucket list as its beauty and diversity is simply astounding. I was there with my son-in-law where we hiked, biked, camped, backpacked, and visited the giant sequoias.
Because this year’s snowpack in the Sierra Nevada mountains was over 240% of annual snowfall and because of the warm temperature in mid-May when we visited the park, the snowmelt created waterfalls that were full and absolutely spectacular to behold. But the downside of all that snowmelt was the flooding in the valley by a raging Merced River. The rising water didn’t substantially affect our activities, but more on that in my next blog.
For me, part of the anticipation of an excursion like this, is the planning process. I strategically thought through the days’ activities, the intended routes, sleeping arrangements, meals, gear, weight of my pack, etc. and tried to plan accordingly. I pulled from past experiences, read articles and posts, got the latest information from experienced Park Rangers, and discuss preferences with my travel companion. I try to operate from of the 6 “P”s I learned years ago: prior proper planning prevents poor performance.
Take meals for example. In the wilderness, planning is especially important since you need to take everything you need to cook the food and clean up afterwards. The fact that we were in bear country added additional challenges. I needed to strategically think through every aspect of the process to help prevent problems. Leftovers needed to be avoided as there is no place to store them and they could attract unwanted critters. Hence, all ingredients need to be carefully considered so both the desired quality and quantity of meals are achieved. That doesn’t happen by accident; it is the result of careful attention to details. Making the plan then working the plan results in sumptuous wilderness feasts with few misfortunes.
But that planning process doesn’t just apply to meals in the wild or a successful Yosemite trip; it also to various aspects of our financial lives. Many of us don’t take the time to plan out future happenings. Transitions are a certainty of life, and as we say, it’s easier to prepare for them than to repair the damage done by not planning ahead. The longer one waits to plan and act, the more limited and expensive the choices become.
Have you strategically thought through transitions you’ll face between now and the grave? I’m always astounded that some folks spend more time thinking about and more money paying for a week’s vacation than they do establishing a personal financial plan that will affect the rest of their lives. Nobody knows the future nor how exactly their life will turn out. But using your earning power now, systematically saving some of your income, staying in the market through ups and downs and relying on a dynamic fiscal plan will help ward off certain hardships later on.
You don’t have to go at this planning process alone. We used the guidance of rangers to help us formulate and hone our plans while we were in Yosemite. You can enlist a CERTIFIED FINANCIAL PLANNERTM to help you design a plan that is right for you. For years, we at Stewardship Advisors have been helping clients anticipate future transitions, and refine, plan for and help fund their life goals as we “walk with them on their journey.” My teammates and I have learned that when it comes to a special trip or life in general, prior proper planning does prevent poor performance.
Schedule an introductory phone call with Thomas at this link: Thomas Talbott – Introductory Phone Call
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