There are many assumptions that exist when it relates to financial planning. Many people will talk about assumed rates of return, tax rates or life expectancy. I want to give a nod to several interrelated ones that are often taken for granted by many in the United States. Many of these assumptions are in a significant part due to the men and women who preserve the peace of our country. On Memorial Day we remember those that gave their lives while serving in the military for our freedom.
How much meaning would the amount you accumulated in your Roth IRA mean if you had to worry about people threatening your life on a regular basis led by either foreign invaders or mobs within our country?
What would it mean if we as the people were forced to live under a system where we had no choice, no influence or direction as it related to law or governance? Tyranny could easily reign. Things or privileges for which we have long worked could end up being taken from us at the whim of our leaders. If one lives long in such a society, what impetus is there for hope or production?
Not to make light of it, but a relatively small example of how violence and terror can affect our lives can be seen in the fallout from September 11, 2001. Approximately 3,000 people died and billions of dollars were lost. This was caused by a terrorist organization. Could you imagine what impact it would have if we had to worry about war on our own soil?
Peace and stability are some of the foundations on which any financial planning rests. Without these twin pillars, building wealth becomes a very different exercise where one always must be on one’s guard against the potential of someone with more power or cunning.
Please take a moment to thank and consider those who have fallen. Many of the things that you enjoy today are in part due to their blood.
As always, please share your thoughts and comments to firstname.lastname@example.org.