Today will be part two of the Retooling, and the harder part of the two day ordeal. This is the day that I plot and scheme my way to solvency. I start out by taking inventory of assets under management. Then I examine every detail of the previous year’s transactions. I then plot all of this data onto a spreadsheet, comparing it to the same numbers from the previous three, five, and ten year numbers. From this data, I can then make a reasonable projection of what I can expect for 2018. I say reasonable because, I am in the investment business, an enterprise known for laying waste to a whole host of well thought out projections. Still, I will labor on with my planning. I will then make a list of the many special expenses facing me in the coming year. A quick survey reveals many such expenses on the horizon:
# My son’s wedding
# Kitchen remodel
# New carpeting upstairs
# Two three week Maine vacations (self inflicted)
Once tabulated, I then will determine just how much business I will have to produce to meet these obligations, working backward from the amount of money required to the amount of effort necessary. I have a feeling that today’s calculations will be a sobering exercise. However, this year I will be aided in my work by a new partner:
This fine new leather briefcase was a Christmas gift from my wife and smells even better than it looks. It was bought to replace my old briefcase with which I have had a wildly successful 30 year run. But, the thing was starting to show its age, and the high fashion ladies that work in my office have gone to great lengths to shame me for carrying it around. While it is true that it was in bad shape, even getting to the point where it would leave little chunks of itself behind on any surface on which it was thrown down, it was still hard to retire the old girl:
So, I didn’t. I placed it on the floor behind one of my filing cabinets...just in case this new one is cursed or something. Listen, I built this business carrying this old thing around. I’m not about to throw it away just because it’s actually started decomposing. I am nothing if not loyal.
Anyway, I have said all of this to be able to explain the best part of yesterday. While cleaning out a drawer of my credenza, I came upon a photograph that stopped me dead in my tracks:
I found it at a particularly low point in my day. The enormity of the task was beginning to weigh on me when this picture slipped out of a pile of thank-you notes I had kept from clients over the years. I stopped. I sat down. There was no clarifying remarks on the back, so I have no idea where we were or what the occasion was. I just stared at these two strange people, familiar, yet almost strangers. We couldn’t have been more than mid thirties, meaning that this was over 25 years ago, meaning further that we were broke, with two young children. I have that cocky look of a man on his way up who thinks he knows everything, who is trying desperately to make everyone think that he isn’t actually scared to death that he’s going to be a horrible failure. But then I look at my wife...there she is, maybe 30 years old, a stay at home mother of two toddlers, looking radiant, thrilled to be dressed up and out from under the crushing weight of Mom responsibilities, if even just for this one night. That smile. Those eyes. She is ready for whatever setbacks I will encounter. She is ready, willing and able to provide the encouragement I will need when the skies become dark and laden with doubt. Every day when I come back home from my latest triumph or failure, she is going to be there to make things better. She will not allow me to give in to self pity on the bad days, or to pride on the good days. She will remind me that no matter what happened that day at work, I had duties and responsibilities right here at home, speaking of which, would I give the kids their baths?
I slipped the picture into a special compartment in my new briefcase. It will remain there for the rest of my life.