Tip of the Week

Tip of the Week Archive

What does the finish line look like?

A few weeks ago I wrote a Tip about finish lines.  If you will remember, I referred to them as points of reference, the end of something, the completion of a task or event.  In that Tip I mentioned the fact that I had blown right past some of my finish lines in 2005 because I didn't know what they were supposed to look like.  There was no one there waving a checkered flag, so I ran past them, full speed ahead! 
 
Since reading that Tip, many people have contacted me wanting to know how to identify a finish line.  So, I thought that I would take the time to better explain what I believe a good healthy finish line should look like.  I have discovered there are three things to look for regarding your finish line.
 
#1 - Personal Responsibility for Family Members
 
In 2005, all of my older relatives, except for my mother had passed away.  Mom was in failing health and I had the responsibility of either caring for her myself or seeing to it that she was being cared for.  Since my mom was the last living relative in my extended family, I was unaware of the difference it would make in my life when that responsibility had ended.
 
I believe that all of us need to be responsible for caring for other family members, particularly parents, who are in need before we can cross the finish line.  I am not saying that a grown son or daughter bears all of the responsibility for aging parents, but they do bear some.  I do not believe that a person can successfully cross the finish line until that issue has been dealt with and the affairs of their parents' life and death have been handled. 
 
#2 - Personal Debt
 
By 2005 my debt load was very, very small.  I had not taken on many of the business commitments and responsibilities that I now have.  However, I failed to see the true value of having little or no debt.  Sometimes when thinking in terms of "wanting more", we do not realize that "more" usually has debt associated with it.  When a person can get to the place where they have very little debt, or can see the light at the end of the tunnel of debt, that should be a huge indicator that the finish line is getting close.
 
Think about it for a moment.  If you did not owe anyone anything and you had no financial obligations or responsibilities, would your load be lighter?  Of course it would!  None of us will ever get to the place where we have absolutely no debt, because as long as we are alive there will always be taxes to pay and other general living expenses.  But, when your house, cars, and other major financial commitments are paid for, it is a nice feeling to be debt free and not have to be concerned about major expenses.
 
I had gotten very close to having no financial debt, but once again, I ran past that marker without slowing down very much.
 
#3 - Accumulated Money in Savings and Investments
 
What I am talking about here is having money set aside to live on in the future.  All of us should be saving a nest-egg that is safe from outside predators and vultures.  This money needs to be as substantial as possible.  When you have a healthy sum of money set aside, safe and secure in the bank, then you can pretty much enjoy life and the fruits of your labor. 
 
Because of the times we are living in, this can be tricky, however, because some people who thought their investments would last them for the rest of their life have discovered that their investments are either gone or have diminished greatly. 
 
I am not a financial planner and this is not a financial newsletter, but I know that when you have a large amount of cold, hard cash sitting in the bank, or invested securely, you have a better chance of recognizing that you are crossing the finish line.
 
I realize that every individual and situation is different and that I may be taking a risk in "prying" into your personal life.  That is not my intent.  Some of you may have people in your family who are ill that you cannot simply walk away from and I do not suggest that you do.  All of us who have children know that we should be available to help our children and other people as much as possible, so I am not trying to close the door on that reality.  All I am saying is this - when you have no one in your family that you are responsible for, and you have no debt, and you have money put aside in the bank, then you have crossed your finish line.
 
There may be some slight modifications and exceptions to the rule, but if I had been aware and had been looking for these three things in my life in 2005, I would have been able to recognize them.  Since that time, my circumstances have changed greatly!  I would love to get back to the circumstances of 2005, but that is not possible.  However, I will know what the finish line looks like in the future and therefore, I will be able to better recognize it when I see it again!
 
Regardless of your circumstances, you should know what you are looking for so that you will be aware of your finish line when you cross it. 
 
I hope this helps - I really, really do!

This information is provided in congruence with Personality Insights USA.

Tip of the Week Archive