Attaining Your 2020 Goals
Enjoy this week's edition of the Planner's Beta
Beta (n) - climber's jargon that designates information about a climb This digest's purpose is to share observations, ideas, and treasures found this week which you may also find insightful. Sharing does not mean it's an endorsement. I am endorsing the pursuit of knowledge and exploration.
Something from Nate
Using a calendar and task reminders to stay on top of your finances.
Glamping is hotter than ever, just ask millennials (Curbed) - Sure, Millenials may be killing off specific industries (cereal, napkins, cable TV, etc.). But recent data from Kampgrounds of America shows Millennials and GenXers may be helping (or creating?) the Glamping industry. Nearly 1/3 of American's went Glamping within the past two years. And, about 2/3 of Millenials and GenXers who have Glamped (not-roughing-it camping) want to Glamp again. And guess what? Many Millenials have cash strapped budgets, and Glamping is usually more cost-efficient than a traditional vacation. So, those Avocado Toast loving "kids" can be a bit creative.
Something about Financial Planning
Creatures Of Habit: How Habits Shape Who We Are — And Who We Become (Hidden Brain - NPR) - Trying to tackle New Year's resolutions? Changing behavior is hard, especially when tackling your budget, saving, or paying down debt. Will power alone is usually not going to result in the desired outcomes. Determination is essential for the start of creating new behaviors. But creating more sustainable changes requires setting up your life so that you don't have to think about your desired new habits. Reduce friction and stress in the tasks you want to become a habit. You can do this by creating small and easy steps that support your desired patterns. The goal is to automate the hard work, so it takes less conscious action to create a habit. At Pursuit Planning and Investments, LLC, we try to do this by creating small weekly and monthly tasks throughout the year and by being your accountability partner.
Something about Economics / Investing
70% of American investors wish they’d handled money differently in 2019 — here’s their No. 1 regret (CNBC) - According to a NerdWallet survey of over 2000 investors, the most often cited regret was not investing more in 2019. Hindsight is always 20/20. 2019 was a stellar year for investment returns. But don't let recency bias have you think 2020 is going to be like 2019. Investing is about having a plan. Your plan should have clearly defined goals, and it should outline the amount of risk you are willing and able to take.
Have something on your mind? Feel free to schedule a free call with Nate.
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