“These guys have worked extremely hard to earn a moment like this. [Virginia]..you feel for them.” Ryan Odom, UMBC Head Coach
Long time readers know that March Madness Basketball is my favorite time of the year. For those who have ever seen their team get one of the four #1 seedings, you know the secret fear that your school could be the first tourney team ever, to lose to a #16 seed. University of Virginia fans have now seen that fear become reality. More aptly, they have seen a school, University of Maryland Baltimore County or UMBC, change that reality for them. Both schools will live in basketball infamy, and for every fan and everyone involved with the programs of those two schools a new lesson in life; that sometimes things don’t happen the way they always have in the past. And yet life goes on, in this case.
A big part of the reason we really encourage clients to embrace long term financial planning, is that life happens. Each of us has a vision of retirement, semi-retirement, or some new phase of our creative lives. Yet that can change in an instant when that future is unexpectedly gone. Life happens, and while we all hope to lead long lives, it is important to think about the legacy you would like to leave behind if the unexpected happened. It may not be pleasant to think about, yet it is important to think about. What kind of legacy will you leave behind? Charitable donations, family travel funds, a business, an insurance policy that covers enough funds to get kids through college with little to no debt? The only correct answer is your answer, your vision.
Take time to share that vision, to prepare for both success and the unexpected. Make your legacy a priority, it may be the very thing that affords others their best legacy. Perhaps even a chance to go down in history, just like this year’s UMBC basketball team. Have a great week, enjoy the attached market update, and call should you have any questions or need help updating your NCAA tourney bracket.