One of my favorite movies is City Slickers, the Western-style comedy from 1991. I think it is one of Billy Crystal’s best films. He plays Mitch, one of three friends facing mid-life crises who sign up for a cattle drive across the Southwest. Along the way, the journey turns dangerous, and the men learn new perspectives on life. Jack Palance won an Oscar for Best Supporting Actor playing Curly, the gruff but wise cowboy who guides them.
I love the scene where Curly and Mitch chat about life, love and cowboys while riding horses. Curly gives Mitch some wise advice:
Curly: Do you know what the secret of life is? (He holds up one finger.) This.
Mitch: Your finger?
Curly: One Thing. Just One Thing. You stick to that and everything else don't mean s***.
Mitch: But, what is the "One Thing?"
Curly: That's what you have to figure out.
We all are doing some soul searching about what we want to accomplish in 2021. But as Curly tells us, concentrate on “One Thing”. And, since my focus is on your financial peace of mind, I’m asking you to commit to “One Financial Thing” in 2021.
What is the “One Financial Thing?” Again, according to Curly, that’s for you to figure out. But I’m going to help with a few suggestions:
- Complete our Just in Case guide
- Update your estate plan
- Review your investments and asset allocation
- Establish a budget
- Hire a financial advisor. I'll make it easy - firstname.lastname@example.org.
My "One Financial Thing"? I am going to work with my daughters to use Quicken (personal finance software) to establish budgets and track spending. It's for their benefit, but it's also for mine. (If you are a parent you'll know what I mean.)
My best wishes to you and your family for a healthy and happy 2021. I hope the New Year also brings you financial clarity and peace of mind.
Shari Greco Reiches
Shari co-founded Rappaport Reiches Capital Management with one goal - to maximize the return on life for her clients. Please connect with Shari below. She loves to talk about investing, financial planning, and Barry Manilow.