• Treavor Dodsworth

#129 - Control


Control

I will admit, I like a certain level of control. Not in the sense that I have to be the one choosing what exactly is going to happen but I like knowing what is going to happen.


The future is unfortunately impossible to predict. This is one of the hardest aspects of doing financial projections. We make a plan but we do so knowing the plan will have to be adjusted.


Does this mean there is no value in doing projections? No, the process of planning and projections can give some clarity to the decisions that are being made and allow you to know if you are generally headed in the direction that will allow you to reach your goals.


That said, it is important to recognize that complete and total control over your future financial picture will never occur. I like the above image because we make decisions the best we can with the information that we have but to some degree, all paths we choose will have some uncertainty.


It is my opinion that we vastly underestimate God’s provision and the ability he has given us to adapt. We can take comfort in this even in the midst of uncertainty.

 

Interesting Article(s) or Video(s)

A Wealth of Common Sense - Predicting the Future is Hard

  • A fascinating look at a letter that was written to President Bush by Lin Wells. The subject line was “Predicting the Future.” The conclusion, “All of which is to say that I’m not sure what 2010 will look like, but I’m sure that it will be very little like we expect, so we should plan accordingly.”

IRA Help - Act Now to Clean Up 2021 Excess 401(k) Deferrals

  • Is it okay if I admit that I don’t know everything about personal finance? I like reading IRA Help because I learn little nuances that I was not aware of. For example, the possibility of double taxation on excess 401k contributions if not corrected in time.

 

Thank you for reading!

Thanks! Message sent.

All written content on this website is for information purposes only. Opinions expressed herein are solely those of Sycomore Financial, 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. The owner of this website takes great care to thoroughly research the information provided to ensure that it is accurate and current. Nonetheless, the content on this website is not intended to provide tax, legal, accounting, financial, or professional advice, and readers are advised to seek out qualified professionals that provide advice on these issues. All information or ideas provided should be discussed in detail with an advisor, accountant, legal counsel, and/or other pertinent professionals prior to implementation. In addition, the owner cannot guarantee that the information on this website has not been outdated or otherwise rendered incorrect by subsequent new research, legislation, or other changes in law or binding guidance. Neither Sycomore Financial or it's owner shall have any liability or responsibility to any individual or entity with respect to losses or damages caused or alleged to be caused, directly or indirectly, by the information contained on this website. In addition, any advice, articles, or commentary included on this website do not constitute a tax opinion and are not intended or written to be used, nor can they be used, by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer. Any mention of an investment product or solution is not a recommendation to buy or sell. ETFs that are mentioned may not accurately reflect the market segment mentioned. Past performance is not a guarantee of future results. Any mention of rates or return should not be seen as a guarantee those rates or return will be received.