“Hindsight is always 20-20.”
~ Billy Wilder
The idea of time travel has fascinated man for centuries. No doubt, the invention and use of such a machine would significantly alter the course of history. But imagine the potential personal ramifications. How would the path of your life change if you ?? 1/2 with your years of wisdom and life experience ?? 1/2 could speak to the 18-year-old version of yourself?
There is immeasurable truth in the old adage that the days do not tell us what the years make so clear. I am sure many of your senior clients share this sentiment. They have weathered hardships, striving to ensure that their children, and their children?? 1/2 s children, would enjoy a better life.
Yet not every generation achieves this goal. This may be especially true in light of today?? 1/2 s uncertain economic times coupled with poor personal finance discipline. It is alarming when we consider the high number of young people who have quickly and almost naturally put themselves in debt and face the risk of a financial cancer that may plague them throughout their lives.
For struggling younger generations, there is wisdom in the perspective of seniors. History has a way of repeating itself, and the economy revolves on a cycle of ups and downs. From depression to recession, gas shortages, dot.com busts, etc. ?? 1/2 there are lessons in past hardships that seniors can impart.
As a trusted financial advisor, encourage your senior clients to have these conversations with their families.