By Edward J. Leach, CFP®, MBA
Whether or not you have an interest in sports, you have likely heard about the helicopter crash involving Kobe Bryant, his 13-year-old daughter Gianna, and the seven other people on board who lost their lives. As reported, eight seconds after losing communication with the helicopter, it plummeted at a rate of descent increasing to over 4,000 feet per minute, traveling about 185 mph on impact. The families on the aircraft were all on their way to a children's travel basketball game.
There are tragedies like this, all across the globe, every single day.
Some you hear about, some you don't.
But they all have one thing in common – when you hear about them, you stop, think for a moment and be grateful it wasn't you or someone you love. If you are on social media, you may even post something about it.
After those moments of reflection, you are inevitably thrust back into the game of life and back to putting out whatever fire you are dealing with at the time.
For Kobe, it wasn't the flash or the god complex of a professional athlete that drove him to charter helicopters daily. It was time. In an article back in 2009 by ESPN's Rick Reilly about Kobe was the following:
"Occasionally, though, he charters a helicopter. "Sometimes, there's just things you cannot miss," he says.
Like?
"Like my daughter's soccer game. Because what if I miss her first goal?"
Of all the things happening in the world, why do I bring up this tragedy? To provide some perspective on what your most valuable asset is, and no, it isn't stocks, bonds, real estate, or anything that you can touch or feel. It is Time.
A considerable amount of our work with clients is discussing upfront your priorities for your lives, and how you want to spend your time. Not how to spend your assets, but your time. The numbers we go through are just calculations on a spreadsheet to show the path you need to take to achieve your goals.
The concerns about market corrections, recessions, the economy, politics, whatever the 24/7 news cycle is pumping out that day are genuine and very important, but you cannot control it. What you have 100% complete control over is how you spend your time.
The takeaway here is best illustrated by this image, which hangs in our conference room and is a constant reminder to focus on what is essential. If there is anything you have been putting off and aren't sure it fits into your financial plan, let us know. It may very well be the best time you spend with us as well.
Author’s Bio
Ed Leach, CFP®, MBA is a Partner and Wealth Advisor at HIGHLAND Financial Advisors, LLC in Wayne, NJ and works directly with clients advising them on their financial planning and investments. Ed’s work focuses on the unique needs of business owners, helping them extract value from their business while creating efficiencies in their business and personal financial plans. He is, also, a member of NAPFA which is dedicated to serving fee only advisors.