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Living for the Present vs Living for the Future Thumbnail

Living for the Present vs Living for the Future

My website is up and running! Hooray!  It is 2.5 months behind a revised schedule, and probably 4 months behind my initial overly ambitious launch date!  A big thank you to everyone for their patience!

It highlights the type of intertemporal consumption decision everyone faces when becoming an investor – not just entrepreneurs.  Let me explain…

I sometimes mention to neophyte investors that there is a huge difference between being a millionaire and living like a millionaire.  In fact, I would say they are polar opposites!  To have 1mm in the bank, you will have had to save a ton of your disposable income and will have delayed many non-essential purchases.  These are huge intertemporal decisions and very hard to make.  Congrats to those who get to the “being” state!  (You can probably ease up a little now that you have arrived!)

It was the same for me when I started SIMC.  Having a group of clients onboard from day one is fantastic!  It also means there is less time to work on future clients and marketing.  So, websites and marketing related to-do’s get delayed.  No big deal – happy clients in the present will make for long-run success.

Same for the saver.  Savings goals being met in the present, means that you will have more for future consumption.  It is always best to have Compound Interest - what Einstein is reputed to have called the called the 8th wonder of the universe – working in your favor.

So, my website is now live – and delayed – but all is good!  Just as for the long-run saver who enjoys greater freedom later in life – today’s delayed gratification is tomorrow’s feast! - all is good!

About the Author

Kent Fisher is a Chapel Hill, NC Fee-Only Comprehensive Wealth Manager at the Southern Investment Management Collective (SIMC).  SIMC provides comprehensive financial planning, retirement planning and investment management services to help clients organize, grow and protect their assets.  SIMC serves clients as a fiduciary, and tailors all solutions to each client's unique situation.