Those that Wait…
This past week, we went school supply shopping. Nevermind that my kids don’t actually go back to school until September 6th, and we are still happily enjoying the hazy, hot, humid days of our Virginia summer. But, last year, we waited until the last week of August to start gearing up for school, and we could barely scratch the surface of the scavenger hunt list of needed school supplies. We found plenty of Halloween decorations…and even an early aisle or two of Christmas decorations…but Prang watercolors or Fiskars brand scissors? Nope.
So, this year, despite being so far from actually packing up for school, we went out and checked everything off our list while the shelves were full. The kids had choices—any notebook or folder color they wanted, backpack racks were full, and we had no issues finding the triangle shaped pencils that were elusive last year.
By facing the school supply list sooner, we had more choices—more freedom, less restrictions. And what we could not find, we had plenty of time to buy online. Like school supplies shopping, financial decisions work in a similar way. Need life insurance? Best to get it in place before you are diagnosed with any health issue. Want high quality dividend stocks in your portfolio? Buy them before the stock market gets scary and dividend stock prices are bid up sky high. Paying for college? The sooner you tackle the challenge, the more chances you have for aid, grants, scholarships, loans.
Procrastination and avoidance result in fewer options—having to settle for what is left, paying more than what you should, or just being able to get what you can afford (not what you need). The sooner you take a look at your list of financial requirements, the more aware you are of what you need, enabling you to proactively look for solutions.
A financial plan is an excellent way to get a list of suggestions of what you may want to get in place to protect your family and guard your future. While the process can be daunting, the sooner you know what you need, the more prepared for the future you will be.
The bottom line is that the old adage of “good things come to those that wait” is not always true…sometimes it is “the early bird that gets the worm”. Or the triangle shaped pencils…