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How well can you predict your 10-year goals?

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  • How well can you predict your 10-year goals?

    Thought-provoking post by Michael Kitces discussing The End of History Illusion. I disagree with the theory that goals-based planning will become outdated, but believe it must be adaptive and flexible. Not to mention, Kitces equates investing with planning, which are two quite different activities.
    Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

  • #2
    It is a very interesting argument that is impossible to prove or win since the future (even if there is one) is unknowable. That said, establishing financial independence, irrespective if that means traditional retirement, nontraditional retirement, part time gigs, Career 2.0, or whatever else it might entail, makes anything possible. Without it, one's options are limited, and that is a fact that cannot be debated.

    It's funny, but in a different context, I have used this argument with my children and others for why I would not recommend anyone getting a tattoo.

    If I were forced to get a single tattoo on my arm where it was readily visible in summer casual clothing, here is what I might choose at various ages in my life:

    Age 10-Steelers logo

    Age 15-Grateful Dead Logo (skulls and roses)

    Age 20-"007"

    Age 25-University of Miami logo

    Age 30-Running shoe

    Etc.

     

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    • #3
      My advice on tatoos....Be very careful with names.  I was doing a Csection on a patient once when I noticed a name tatooed on her lower abdomen.  I said is this your husbands name.  Answer NO!

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      • #4




        My advice on tatoos….Be very careful with names.  I was doing a Csection on a patient once when I noticed a name tatooed on her lower abdomen.  I said is this your husbands name.  Answer NO!
        Click to expand...


        I take tattoos out all the time with tummy tucks. During the consult I warn them about that, and they are almost invariably so happy to be rid of it. You definitely change a lot though the years. I always joke that if a tattoo could be for 1-2 years itd be great and no issues.

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        • #5







          My advice on tatoos….Be very careful with names.  I was doing a Csection on a patient once when I noticed a name tatooed on her lower abdomen.  I said is this your husbands name.  Answer NO!
          Click to expand…


          I take tattoos out all the time with tummy tucks. During the consult I warn them about that, and they are almost invariably so happy to be rid of it. You definitely change a lot though the years. I always joke that if a tattoo could be for 1-2 years itd be great and no issues.
          Click to expand...


          Let's invent the slowly disappearing ink. Trademark the 2 Year Tattoo().  Make a not-so-small fortune. I'll get to work on the kickstarter campaign  

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          • #6










            My advice on tatoos….Be very careful with names.  I was doing a Csection on a patient once when I noticed a name tatooed on her lower abdomen.  I said is this your husbands name.  Answer NO!
            Click to expand…


            I take tattoos out all the time with tummy tucks. During the consult I warn them about that, and they are almost invariably so happy to be rid of it. You definitely change a lot though the years. I always joke that if a tattoo could be for 1-2 years itd be great and no issues.
            Click to expand…


            Let’s invent the slowly disappearing ink. Trademark the 2 Year Tattoo().  Make a not-so-small fortune. I’ll get to work on the kickstarter campaign  ?
            Click to expand...


            For years, I have been trying to "train" an MRI machine to remove tattoos. It would be a goldmine. It would be better than a goldmine!

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            • #7
              I try to avoid them on Pfannensteil incisions.  They dont age well at all.

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              • #8


                Let’s invent the slowly disappearing ink. Trademark the 2 Year Tattoo(™).  Make a not-so-small fortune. I’ll get to work on the kickstarter campaign
                Click to expand...


                That's one alternative investment I would consider making.
                Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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