Firsts usually get all of the attention.
First human to set foot on the moon. First day at a new job. Baby takes her first steps. Kindergartener loses his first tooth. First time the stock market reached this level. First day of high school or college. There is something really exciting about doing something for the first time.
Firsts are new. Firsts can be nerve-racking. Firsts are a celebrated milestone.
What about the lasts?
Some lasts are quite memorable. Your last day at a job before retirement. Your last day in high school. Your last day with a dying friend or relative. My oldest son may be spending his last night in our home this evening as tomorrow he moves out.
But far more lasts go completely unrecognized. When was the last time you used a VCR or manually rolled down a car window (if ever)? Can you remember the last diaper you changed on each child? Can you remember the last time they needed your hand to cross the street?
Unrecognized lasts are often not new. They occur with the quiet confidence of a road already traveled. They disappear from consciousness until you make the time to reflect on the changes that have quietly accumulated in your life.
The challenge in celebrating milestone lasts is that in many cases you don’t know they are the last.
During this most recent bear market, there was no celebration at the end of the day on October 12, 2022, to mark the last day of the down segment. There was no celebration after the Federal Reserve’s interest rate hike on July 26, 2023, to mark it as the last in this cycle.
When is the last time you actually worried about how today’s stock market “action” impacted your family’s long-term plans? You likely don’t remember.
Our comprehensive financial planning and portfolio process is designed to help you work toward your personal firsts and your lasts with quiet confidence. Please share us with someone who could benefit from planning to celebrate their future firsts or lasts.
Quote of the week: Alex Hirsch: “The fact that childhood ends is exactly what makes it so precious – and why you should cherish it while it lasts.”
Graphic: iStock #1456126956 Credit: Tinnakorn Jorruang
