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What I did on my Birthday! September 11, 2008

Posted by shaferfinancial in Uncategorized.
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Yesterday was my birthday.  My six year old son doesn’t understand why, when you get up in years, birthdays become less of a big deal.  I tried to explain it to him, but it wasn’t really computing for him until I told him what I do on my birthday.  Then as sometimes children do, he made a truly profound statement.  First, some background.

I reserve time on my birthday to think.  I think about the past and present, but mostly I think about the future.  Specifically, I spend some time thinking about how I have planned my financial life.  John Maxwell says this about thinking:

Unsuccessful people focus their thinking on survival

Average people focus their thinking on maintenance

Successful people focus their thinking on progress

So I spend time on my birthday thinking about progress.  This last year I have made much progress, and hope to continue to progress, but you need to analyze what you are doing and make appropriate changes.  Frankly, I am very happy with my investments, but want to start to turn a small percentage of them into income producers.  My cash flow has been good from my business, but my receivables have sky-rocketed. The Shafer Wealth Academy is doing quite well, but needs to be pushed to the next level over the year.  And I am starting another business with a partner that will suffer the pain of being a new business.  My book is about ready to be published.  So I do have much on my plate.

I am evaluating several different income producers to find the right fit in terms of cash flow and risk.

Here is a sample: Reverse Convertible Notes, Principal Protected Notes, Covered Calls, Investment Real Estate.  None of these strike me as the perfect vehicle for what I am trying to accomplish, so I will remain in the thinking mode for a short while about these and other options. 

Now, back to my son! 

“Daddy, isn’t it great its your birthday?”  “Aren’t you excited?”  “Well, no son, I don’t feel that excited.”  “Daddy, what did you do today?”  “Well, I worked out and then I did some thinking.”  “Daddy, why?”  “Because it is important to stop and think sometimes, and I always do that on my birthday.”  “Why is it important to stop and think?”  “Well son, adults get so busy with their everyday life, they don’t take the time to think and plan.”  “And you do this on your birthday?”  “Yes.”  “Daddy, I told you birthdays are important; just think if you didn’t have a birthday and then you would never think!”

Ahh out of the mouth of children!  Here’s to taking time to think.

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Comments»

1. BawldGuy - September 12, 2008

Kids teach us so much when we talk to them like little human beings, instead of mindless visitors from another planet. 🙂

What I take away from this piece is the symbiotic relationship between thinking and planning. So often people think without planning, or worse, plan without the foundation of thought.

As usual, Dave, stellar food for the mind.


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