“What we can easily see is only a small percentage of what is possible. Imagination is having a vision to see what is just below the surface; to picture that which is essential but invisible to the eye”
– Author Unknown
I loved to read to my two boys as part of their bedtime routine when they were youngsters. It was our time together at the end of a busy day. I got as much out of it as they did, probably more. We would read books about how things worked and, of course, the classic bedtime stories. High on the list of favorites was anything by Dr. Seuss. Being from San Diego we took pride in the fact that Dr. Seuss (Ted Geisel) wrote many of his classic books from his La Jolla, CA home office overlooking the Pacific Ocean.
Of course I read many of his books as a child and as I became an adult and started my own family I realized that there were lessons for adults as well as kids in his stories. One of the Dr. Seuss books that should be required reading for adults as well as kids, or re-reading as the case may be, is “Oh the Places You’ll Go.” It’s a great story about facing adversity, perseverance and having patience; or, as Seuss describes it, “The Waiting Place.”
To quote from the book, “You can get so confused that you’ll start to race down long wiggled roads at a break-necking pace and grind on for miles across wierdish wild space, headed, I fear, toward a most useless place. The Waiting Place.” Yes, that seems to be where many people are right now when it comes to planning for a secure retirement. Everyone has a reason to be in The Waiting Place be it the economy, low interest rates, waiting for the stock market to what?…get higher? Or they have just thrown up their hands as if to say, “I’ve done a crappy job of saving for retirement so what’s the use?
The good news is, we have been here before so the reasons for parking ourselves in The Waiting Place are not unique. The bad news is…some people never get out and end up having to move in with the kids when their retirement savings run out. Of course no one wants to be there so how do we get out of The Waiting Place? The pain of staying in The Waiting Place has to be greater than the pain of taking action. Here are 5 ways to take action and get out today!
- Stop visiting the “Ghost of Past Mistakes” – You are not Jacob Marley from Charles Dickens’ “A Christmas Carol”. You don’t need a nightmarish ghost to visit you nightly to bring you to your senses. We all are our own worst critic. So give yourself a good talking to and then be done with the ghosts. We can all say that we should have done this or that. The best time to plant a tree was 20 years ago; the next best time is today. Realizing that you need to take action is a huge step.
- Participate in your cure – When I was battling cancer in 1992 I made it a point to become educated about my disease. I wanted to partner with my doctor not be talked at. So I read everything I could find on my illness. Don’t just put you situation in the hands of a financial planner or investment advisor; make it a point to understand the process. Work with someone who embraces a process and sells you on their process not some lucrative, magical return on investment. Yes, it needs to include an investment part but it’s not the only part. Understand why?
- Have a plan and implement your plan. You can’t get out of The Waiting Place by just having a plan. You have to actually do the things your planner recommends. So when he/she says that you need to increase your 401(k) contribution by $100 a month, make sure that you contact your company representative and make the change. Check it off the list on go on to the next action item.
- Live with confidence – Yes, a plan will allow you to live your life with less stress. Once you know where you are going and how you will get there it will set you free. Think about a “you” with less stress and more joy of life. You will have more fun and be more fun.
- Be ready to make changes – Once you are out of The Waiting Place you may find yourself revisiting at some point in the future. That’s OK. Next time you won’t stay as long. In fact you may just pass on by because you will have a plan. You may need to adjust your plan as changes occur in the economy and/or your life situation and then you will continue on those “long wiggled roads” as Dr. Seuss would say.
So there you have it. As Dr. Seuss tells us, “You have brains in your head. You have feet in your shoes. You can steer yourself any direction you choose. You’re on your own. And you know what you know.”
I couldn’t say it any better.
Time Out!: What are some things that keep you in The Waiting Place? You can leave a comment here.
Please note: I reserve the right to delete comments that are offensive or off-topic.