"Cuts through attrition", a.k.a. let boomers retire with a full pension, dump their work on younger employees without a pay raise, and don't hire any young people into the system, causing an eventual problem with a top-heavy workforce and a skills gap in about a decade.
Aug 16: Images from @NOAA_HurrHunter and the @NOAASatellites Ocean Winds team show an intense eyewall in Hurricane #Erin This photo shows the ocean surface calm in the eye and roaring in the eyewall. For the latest forecast visit https://t.co/tW4KeGdBFb
With hurricanes, the window of worry is usually longer than the window of concern.
There is lots of chatter this week about Invest #97L, a tropical wave just emerging west of Africa that will travel across the Atlantic and likely develop into a hurricane according to most models.
Uncertainty regarding whether newborn waves will cross the entire pond to threaten the Caribbean or United States before recurving northward is a tale as old as time. That journey takes 7-12 days depending on the area threatened, and in most cases, we simply don't know the outcome this early. Details of genesis location and the compounding effects of 10 days of steering forces can't be precisely predicted yet.
The window of worry is open, but we have not yet entered the window of concern. 97L will be monitored closely next week, and we'll be discussing it as the future becomes clearer. Given it is August, those in hurricane alley should be in a constant state of preparedness just in case a storm forms and heads your way.
Financial planning is about more than spreadsheets, retirement projections, and optimal portfolios.
At its core, it's about helping people find and fund a good life.
And a "good life" means different things to each of us.
So today, I resigned from PWL.
Over the past 18 months, my wife Denise and I have had many honest, reflective conversations about what that means for our family, and we came to a few conclusions:
1. We want to prioritize time over money
2. We want more slow mornings, unstructured time with our kids, and shared experiences
3. We want full agency over our calendars to say "yes" when it matters and "no" when it doesn't
Through these conversations, we arrived at a crossroads.
To live our good life, I would need to resign from my role at PWL and semi-retire.
And so, effective April 30th, I am resigning and entering the world of semi-retirement.
This was not a decision made lightly, quickly, or easily. I love this work and have loved being part of PWL. I joined the firm because I shared its values, mission, philosophy, and unwavering goal of improving the lives of its clients.
That hasn't changed.
In my 15 years in the industry, I've seen the good, the bad, and the ugly. I've met hundreds of advisors working across dozens of firms. I've seen the incredible positive impact of sound, unbiased financial advice on people's well-being.
Unfortunately, I've also seen how destructive it can be when our industry doesn't put people's needs first.
PWL represents the best of the industry. The fact that so much talent exists in one place is no accident. Every week, I talk to advisors around the country who want to learn more about PWL's story so they can emulate it.
This is a testament to the vision and execution of the people here and their success in building not just a company but a community.
I will continue to wholeheartedly recommend PWL to those needing full-service financial planning and investment advice. My mom will remain a client, and I've told Denise that if anything ever happens to me, her first call (after family, of course) should be to PWL.
This decision was entirely personal and was not influenced by PWL's recent sale to OneDigital.
Our family's conversations about finding and funding a good life began long before OneDigital and PWL started their discussions. I know how deeply PWL cares about their mission and values, and I am excited to watch, from the sidelines, how PWL and OneDigital continue to evolve and exceed the expectations of their clients and the industry.
My friend @benjaminfelix's paper, Finding and Funding a Good Life, was a key factor in this journey. It is a life-planning framework that integrates influential research on happiness and well-being.
Here are a few of my most important takeaways:
1. Experiences > Things: We quickly adapt to material goods, but meaningful experiences stay with us regardless of their cost.
2. Time > Money: Prioritizing time over money leads to greater happiness, better relationships, and more profound life satisfaction.
3. Regret: The most enduring regrets in life are about inaction, especially regarding health, relationships, and alternative choices we might have made.
4. Connection: Close relationships are among the strongest predictors of well-being over a lifetime.
I encourage you to read it and consider your own definition of a "good life."
https://t.co/pnyRixHMRP
This decision was also prompted by my own experiences that reminded me just how fleeting and fragile life can be:
- My father passing away just 18 months into his retirement
- News of a high school friend who passed away unexpectedly in his 30s
- A young, healthy, and fit friend going through a health challenge
- A visualization my friend @LooniesAndSense built, showing how little free time we truly have left with our children: https://t.co/tbzl1qezPW
Life is short and precious, and we never know how many healthy days we have left.
@Mill_Moron The non-bot humans who enjoy facts and logic salute you! I guess we're just in the minority.....
I haven't had the chance to watch the long CPP video yet - but I will!!!
@RobynUrback I don't know if you'll see this - but I've followed you for years - and no matter what I do, I can't get your tweets to show up in my feed.........
I've tried to stay fairly positive with recent messaging, but this is a direct attack that would cripple NOAA modeling capabilities and directly lead to more death and property loss if it is carried out. I definitely recommend calling your representatives ASAP to oppose this.
https://t.co/GiUZJdVkKV
Unfortunately I can confirm the rumors going around today since I received "the email"...I don't want to make any comments other than I am exploring legal options in a couple of avenues. I will probably be deactivating this account for a variety of reasons soon. I always advocate contacting representatives about the importance of the NWS/NOAA mission.
The plane investigating #Milton just transmitted an incredible Vortex Data Message (VDM), noting that the storm possesses "SUSTAINED MDT, OCNL SVR TURB IN NW AND NE EYEWALLS, OBSERVED FLOCKS OF BIRDS WITHIN THE EYE". Just wild to see this.