The Ride of Your Life:
Financial Planning with a Motorcycle Rider
Article written by Brian Bickett
I was reflecting on my most recent long-distance motorcycle ride (My First Saddle Sore 1000) and realized how my preparation really set me up for a successful trip. The preparation gave me the confidence that it could be done safely and left enough flexibility to adjust to likely challenges. Before I left that morning, I had thought thru the scenarios that I would be able to handle (rain, drowsiness, minor mechanical issue) as well as the ones that would cause me to end the trip (flat tire, exhaustion, encounter with a large animal). This confidence let me truly enjoy the ride and not worry about what may happen next.
As I look back at my prep for the ride, it hits me that I follow the same process for every long-distance motorcycle ride I have been on in the last 20 years. Granted it has evolved over the years as I have learned from both good and bad experiences. But the process remains similar.
It starts out with a destination. Either someplace that I’ve always wanted to see or somewhere inspired by hearing about someone else’s adventure. I then break out the maps to first see if the route is reasonable given the available time and the riding abilities of traveling companions. Many considerations go into the planning the trip including points of interest along the way, likely fuel and overnight stopping points, the climate and terrain of the route and what gear is needed. You always have room for everything you need but not for everything you want.
Find Your Financial Roadmap.Brian can help you develop a roadmap to get you from where you are to where you want to go — and then put it in action, making your money work for you to avoid behavioral mistakes.
The planning process that I use with Iron Mountain clients follows a very similar set of steps and ends up having the same benefits. We identify the clients’ destination, analyze options available, educate on pros and cons, build in some flexibility, and start off on the initial route. Life happens, challenges arise, destinations change, and sometimes the locals let you in on something you didn’t know when you started off. Adjustments are made as needed. Having a process and guide to help you along your journey allows you to focus on enjoying the ride and not on worrying about what might happen next.
Financial Planning with a Motorcycle Rider
Enjoying life on a motorcycle is more dangerous than in a car. The motorcycle rider always pays more for mistakes on the road regardless of whose fault it is. This enhanced awareness that tomorrow is promised to no one helps me to be more present in my life and influences how I work with clients. While it is important to plan for tomorrow, I also encourage clients to live today. Why put off a dream until “someday” if we can work thru the steps to bring it to tomorrow? Money is not the goal but simply a tool to be used to help you live the life you want to live.
I encourage you to live your life with intention and if you would like some help with planning the ride of your life, it’s what I do for a living. Click here to schedule an introductory call.
Additional Articles You May Find Interesting
Article written by Brian Bickett You and I both know that South Dakota was ranked the best state for retirement in Bankrate’s 2018 “Best and worst states for retirement” study which is summarized here. The study ranked South Dakota #1 overall based on rankings...read more
Summary of the 2019 Social Security Trustees' Report Article written by Brian Bickett Earlier than in the past, the Social Security Board of Trustees released their annual report at the end of April this year. The report for 2018 spans 270 pages that go...read more
Article written by Brian Bickett Do I have enough life insurance? It’s a simple question with a simple answer. However getting from the question to the answer requires a bit of exploration. And that exploration always begins with “Can you tell me why...read more
Start your journey to financial freedom and peace of mind today.
CONNECT WITH US
Iron Mountain Financial Planning LLC (“IMFP”) is a registered investment adviser offering advisory services in the States of South Dakota and Wyoming and in other jurisdictions where exempted. Registration does not imply a certain level of skill or training. The presence of this website on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by IMFP in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or pursuant to an applicable state exemption.
All written content on this site is for information purposes only. Opinions expressed herein are solely those of IMFP, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.