The Power of Death in Financial Life Planning
This article appears as part of Casey Weade's Weekend Reading for Retirees series. Every Friday, Casey highlights four hand-picked articles on trending retirement topics and delivers them straight to your email inbox. Get on the list here.
Weekend Reading
Evaluating your life and financial decisions through the lens of mortality (a practice known as "memento mori”) has the power to help bring you true clarity in financial planning.
READ THE ARTICLEWhen you begin with the end in mind, you can cultivate a firm understanding of what truly matters to you, rather than focusing solely on assets and financial strategies. Here, author Tim Maurer suggests two exercises for uncovering your core values:
📌 5-Minute Exercise: Reflect on your personal concerns and aspirations. This involves identifying and prioritizing things within your control, such as health, family, and financial security, to clarify meaningful objectives.
📌 50-Minute Exercise: Known as past podcast guest George Kinder's "Three Questions," this exercise invites you to imagine life scenarios: Financial security without limitations, limited life expectancy, and a final day of life. These questions help reveal essential goals and values for a life of purpose and meaning.
Key takeaways: When you acknowledge your mortality, you are more likely to get to the root of what brings you fulfillment, which can then become a guiding force for your retirement plan and life. This is your opportunity to unlock the door to your happiest and most authentic self.