Financial Reflections

I recently read  The Number: A Completely Different Way to Think About the Rest of Your Life by Lee Eisenberg, which I found only because I confused it with a different book called The Number in Mark Cuban’s blog.  It was a pleasant mistake, because I completely enjoyed the book.   And I enjoyed it for a reason that - strangely enough - has nothing to do with numbers.

The Number is an exceptional book because it takes a fresh, entertaining look at an otherwise dull subject.  Rather than pour over endless calculations, including the obligatory compound interest graph, Eisenberg takes the reader on a trip to “the rest of of your life.”   His style is engaging and conversational which is likely helpful to people who find themselves yawning when subjects like 401(k) accounts come up.

The fact is, you can probably fit the part about numbers from The Number, in one chapter.  What sets the book apart is that it makes one think about more than just how “big” of a number (in other words, your net worth) you would need to retire.  One part contains a description of an exercise a retirement planner put his clients through.  He started by asking people what they would do if they retired.  Then he asked what they would do if they knew they only had 5-10 years to live.  Then he asked the key question.   The planner asked:

If you only had 24 hours left to live…

The reader then paused, perhaps intentionally, to give me a chance to think up an answer.  I instantly thought “I would spend the entire time with my wife and kids.”  Then the reader finished:

…what would you have missed?

That took me in an entirely different direction.  I had to think, what have I missed?  If I had a sufficiently large “number,”  what would I do?  Having a massive net worth isn’t just about golf (ok, for most people) fine wines and the life of idle rich.  As much as I dream of getting up to play 18 every day, then following it with hours of VH1’s fine programming and a nap, I know I’d get sick of it - after a month or two.

I have part of an answer.  I’ve found that I enjoy writing.  If I could write in a way that really helps people, I’d have it made.  In fact, that’s part of why I started this website.  I don’t give my writing high marks, but I have twenty years before my number is retirement-sized to get better.  I also have twenty years or so to come up with a better answer.

But enough about me.  What’s your answer?  What would you have missed if today was your last day?  Feel free to let me know by leaving a comment.