Groundhog Day

    | February 19, 2021

     

    Groundhog Day was this past Tuesday.

    When I think about Groundhog Day, I generally don’t think about a rodent that has special weather prediction powers and whether or not we are going to have six more weeks of winter. I think of the Bill Murray movie.

    I see the alarm clock turning to 6:00 am and begin to hear Sonny and Cher singing “I Got You, Babe” in the background. I then I see Bill Murray’s character, weatherman Phil Connors, reliving the same day over and over. He is stepping off the curb and into the same puddle day after day, even when he realizes it’s going to happen.

    I started to think about our own lives and whether there are any parts where we are living our own version of Groundhog Day. Walking off the curb at the same location and continuing to step into our own proverbial puddle – every day, every month and every year. Are you doing (or not doing) the same thing over and over even though you know a resulting bad thing is going to happen if we don’t change.

    What aspects of your life are stuck in Groundhog’s Day?

    • Some might be health related. For example, not following a healthy diet or engaging in a regular exercise routine or neglecting to see your doctor for your annual physical.
    • Some might be relationship related. Not keeping in touch with a loved one. Not apologizing for a hurt you caused.
    • And some may be on the financial side. Not reviewing your financial plan, your insurance policies and your estate plan on a regular basis. Not organizing financial, estate and other personal documentation in a location and format that is both appropriately secure and accessible. Not planning and implementing appropriate communications and education strategies for your spouse and your heirs. Not introducing your spouse and your heirs to the key members of your advisory team – your financial advisor, your estate attorney, your accountant, your insurance consultant, selected trustees, etc.

    I encourage you to use this next six weeks of winter, as predicted by Punxsutawney Phil this week, to consider what Groundhog Day habits you can break or make to avoid your puddle and make a commitment to address them.

    At Telemus, the foundation of our organization is based on a holistic approach to financial life management. We have the experience and resources that go beyond the basics of an investment and estate plan to assist you in developing, implementing and supporting appropriate ongoing strategies for you and your family to step around the puddles. Let’s start the process!

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