Each month, Andy’s answering a question that he wishes more clients would ask him, addressing timely topics that he thinks are worthy of the spotlight.
Holiday-Themed Life Advice from The Prosperity People’s Very Own Andy Pulsfort
There’s something about this time of year that gets Andy’s creative juices flowing. Historically, The Prosperity People newsletter has always included a holiday-themed nugget of wisdom from Andy. And this year we’re looking back and recapping our top three favorite festive tidbits.
So, pour yourself some eggnog and let’s go for a stroll down our Christmas newsletter memory lane:
1. Consider the non-tangible.
The value of a gift changes over time. What was once the must-have item of the season (we’re talking about you, frankincense and myrrh) can go out of fashion in a flash. Want proof? Andy wrote about this topic back in 2008 and bragged about his new cellphone that came with a built in MP3 player!
So instead of gifts that come with a lot of hype, consider a broader definition of value.
Andy says, “Some of the simplest things can make us feel safe and frugal, yet prosperous at the same time. Consider your Christmas wish this season and consider the wishes of those around you. Maybe this year’s Christmas shouldn’t just come from a store. Maybe this year’s Christmas should mean a little bit more.”
2. Give the gift that grows (long term): Stock.
Andy’s offered up this advice so many times that we’ve lost count. If you’re not sure what to get for the minimalist in your life, or your adult children are begging you to reign in the number of toys you gift your grandkids this year, consider the humble stock certificate. And the perks of a down market? You’re able to buy low with the (likely) expectation that in the long term your investment-themed gift will grow.
Plus, it’s a gift that presents a learning opportunity.
Andy writes, “Financial education is missing in today’s curriculum, so whether it’s stock or cash, a gift like this could be an exciting way to teach good financial practices.”
3. Don’t live life like Scrooge. Enjoy the people that fill your cup this holiday season.
What would Scrooge’s life have been if he’d had a financial plan? If, instead of stockpiling his money in fear of not having enough, he’d taken the time to define “enoughness” and built his financial goals around that definition? Would he have taken more vacations? Would he have given back to non-profit organizations near and dear to his heart? Would he have worked less and spent more time with the important people in his life?
At The Prosperity People, we talk a lot about how prosperity is defined by the individual and the idea that there’s a lot more to wealth than money in the bank.
If you don’t have a financial plan, get one. And if you already have a financial plan, take the time to revisit those personal philosophies at the foundation of your plan.
The reason you took the time to build a plan is to make space for the things and people that matter most. Consider this your friendly reminder to focus on what brings you joy.