After more than a year of pandemic chaos, Americans are well on their way to getting back out into the world. Letting loose, seeing old friends, taking big trips, living it up. All those long months of worry have left us with a carpe diem attitude toward life in general. Attempting to make up for lost time, we are loosening those purse strings, pulling out those wallets, and spending, spending, spending.
At McKay Wealth, we have always been big believers of living life to the fullest. And right now, with society busily patching itself back together, is no exception. But the reality is, we all had goals and dreams before COVID-19 took over our lives, and those aspirations are likely even more important than ever before. It is essential to keep your financial wellbeing front and center as we restart from here. Simply going on a year-long celebratory spending spree could be quite damaging to your future financial self.
Rather than somehow attempting to claw back the happy times we missed out on during pandemic mayhem, why not reframe your perspective? You are fully capable of moving forward from this point with financial purpose, keeping your spending in the present in line with your hopes and dreams for the future.
In 2020, your monthly saving and spending totals were probably vastly different than in previous years. From changes in daily habits (eating at home, working remotely, avoiding travel, shopping online), to government stimulus payments, to shifts in jobs and income – to say 2020 was an atypical financial year would be an epic understatement. Some spending adjustments may have been temporary. Others you will build into your day-to-day lifestyle moving forward. Now that your consumption habits have evolved, it is of utmost importance to figure out where you stand, and how to navigate a sustainable financial path from here.
If the pandemic taught us anything, it is how to be resilient. How to put our heads down, push through uncertainty and come out with renewed intentions. Don’t let this opportunity pass you by. Look over your investment portfolio, brush off your financial plan and see what needs a refresh. Come up with a list of questions and concerns you have. If where you want to end up financially has changed dramatically, let’s work together to get you moving toward achieving your new ambitions.
Take control of your finances now. You may be surprised to find how disciplined you can be with your spending once you can visualize your roadmap for the future. Interested in learning how we can help get you where you want to go? Reach out to schedule a free initial consultation.