{"id":6762,"date":"2024-07-10T12:48:05","date_gmt":"2024-07-10T17:48:05","guid":{"rendered":"https:\/\/schenkelberg.investments\/?p=6762"},"modified":"2024-07-10T12:48:23","modified_gmt":"2024-07-10T17:48:23","slug":"midlife-crisis-musings-balance-and-the-teeter-totter","status":"publish","type":"post","link":"https:\/\/schenkelberg.investments\/?p=6762","title":{"rendered":"Midlife Crisis Musings. Balance and the Teeter Totter<\/strong>"},"content":{"rendered":"\n

June marked a milestone for me.  My 50th<\/sup> birthday was June 16th<\/sup>. Actually, it isn\u2019t too bad. It still feels like I\u2019m in a building phase. It also feels like the middle of a teeter totter. A teeter totter is all about balance. In life we balance a lot, most notably saving and spending as well as work and life. I remember playing on a teeter totter when younger by walking to the middle and then trying to balance with both feet on either side of the middle while both ends are off the ground, then running down the other side. Are they too dangerous for playgrounds these days?<\/p>\n\n\n\n

As we move through life, here are the key items I think are pertinent when it comes to balancing saving\/spending and work\/life.<\/p>\n\n\n\n

Living Within Our Means.<\/em><\/strong> <\/em>In our 20s and 30s saving for the future seemed like a daunting task. However, working hard to save during these years pays off generously in the future. Keys to this success involve living within our means while avoiding debt and saving a consistent percentage of our income. I love my convertible now, but our son Stryker can remember my hubcap flying off the wheel of the gold Camry with 215,000 miles because I was trying to make the car last as long as possible to save for the next car and avoid a car loan.<\/p>\n\n\n\n

The Snowball is Real. <\/em><\/strong>In our 30s and 40s we start to see the results of the earlier sacrifices. The most difficult milestones in saving are $1,000, $10,000 and $100,000 early on. However, once these levels are reached, the next milestones become easier and easier. I can\u2019t emphasize enough how much debt makes building the financial snowball more difficult. But, with a well laid out personal balance sheet we can work together to balance the teeter totter of saving while lowering debt and tilting balance further and further toward wealth.<\/p>\n\n\n\n

Honesty and Integrity is Wealth. <\/em><\/strong>In our 40\u2019s and 50\u2019s we recognize more than ever what it means to treat others with honesty and integrity and value business and personal relationships with people we enjoy and trust. There is no substitute for a good night\u2019s sleep. <\/p>\n\n\n\n

I\u2019ll have to get back to you on what the 50s, 60s and beyond mean to me. If I had to guess right now, I would say that Health is Wealth. On the teeter totter of life I may be transitioning toward the downhill slope, but I\u2019d like to stay right here in the middle for quite a while, continuing to help others balance saving and spending as well as work and play while building a business that helps clients for years to come.<\/p>\n\n\n\n

I\u2019m not going to deny there have been some midlife crisis moments as I reach this milestone. What does a midlife crisis look like for me? I think it\u2019s about looking back on the hard work we\u2019ve done to get here and realizing there is limited time to enjoy the benefits. COVID also contributed to some of these YOLO (you only live once) moments. It\u2019s enjoying the convertible while I can still pull myself out of the driver seat (it\u2019s admittedly a little more difficult on some days). It\u2019s taking active vacations with our children before they are working full time and have limited vacation and more commitments<\/p>\n\n\n\n

Looking at my clients at various ages, there is a lot life has to offer at very stage and it is pretty good right now.<\/p>\n\n\n\n