My favorite leisure activity is trail riding with my horse. I load up a horse or two in the trailer and we camp where we have access to great trails. When I first started trail riding on the 11,000 acres of the Ganaraska Forest in 2012, I didn’t venture out without the guidance of some of our group who have been riding those trails for 25 years. We always went out with an experienced guide because one can lose their sense of direction easily on the twisting and turning trails.
Over time, I have grown in confidence and a couple of years ago, my friend Carrie and I headed out on our own. I on Winchester and Carrie on my other horse Monty. We packed a lunch. We had a map, a GPS and a compass. Our plan was to ride until lunch then sit down and plan our path back to camp. We were having the greatest time, exploring a ridge where I had never been before. And then it happened….the clouds opened up and a cold September rain began to pelt down on us! I pulled out my map and it quickly disintegrated in by hands. The screen on my GPS quickly turned black having taken on some moisture.
Following Carrie’s compass, we did get ourselves started in the right direction. Fortunately, we came across a spot that I recognized. I had been there for the first time just the day before. It was the bottom of a big hill that we call “the lookout”. The lookout itself, I had visited many times. The bottom on this side had been new to me. So – up the hill to the lookout and then I knew the path back to camp.
I am so glad that we did not have to have a search party rescue us. That would have been embarrassing, especially since I was rescued by paramedics on my first visit to the Ganaraska Forest in 2012 but that is another story.
The story of the storm illustrates that the greatest value you can get from your written financial plan is not when the skies are sunny, though there is much to discuss on those days as well. Times of change are great times to assess your situation. Going to school, graduation, marriage, retirement are all positive changes where your plan gives guidance. The greatest value from your map though is when the skies open and life brings challenges: challenges like job loss, loss of health, death, divorce. A written financial plan provides guidance in the rough times to help you make good decisions and keep you on the track to accomplish your goals.
How do you know your map won’t disintegrate in your hands when the rain falls?
Do you have confidence in your plan to weather the storm? Or do you worry that something unforeseen is going to throw you off the path? Have you stress tested your financial and retirement plans? Stress testing involves applying different scenarios. It’s the “What if?” picture. Have your plans been stress tested? It’s part of the ☺Mindful Money Management process.
Join the mindful and create a better world.
Imagine what it would be like if we all became mindful. ☺Mindful Money Management makes that happen when you spend, invest, and donate to create a better world.
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How are you voting for your values? I’d love to learn about the impact you plan to make. Please feel free to contact me at [email protected] with your comments and ask to be included on the guestlist for my next Mindful Money Management Zoom Workshop. See you there!