Getting a Handle on What We Really Want

Nantucket

After a fun summer of traveling, visiting friends, and working on building my platform, I'm happy to be back home in Atlanta.

This photo was taken outside the Handle Bar on Nantucket, which feels oddly appropriate for this time of year with the kids headed back to school and college.

Because as we enter the second half of life, do we really have a handle on what we want?

For years, one of my dreams was to own a second home on Nantucket.

Nantucket—or ACK—holds some of my favorite childhood memories.

My dad would rent a house for a week with his single friends, there were kids of all ages running around, and I remember beautiful beaches, huge waves, trips to the candy store, and eating whatever candy I had left on the ferry ride home.

So naturally, adult me decided:

Someday I'm going to own a house there.

And now, for the first time in my life, I could potentially make that happen.

So I went back this summer and started looking.

And something surprising happened.

I killed the dream.

What I could reasonably buy wouldn't fit all three of my kids, much less their future partners and friends.

Getting there is expensive and time-consuming. Fixing up a house from hundreds of miles away sounded even worse.

Then there are renters. Roofs. Plumbing. Hurricanes. Maintenance.

And suddenly I realized:

I don't actually want a Nantucket house. I want to enjoy Nantucket.

There's a difference.

The financial advisor in me can make the argument for ownership.

Buy an asset.

Rent it when you're not there.

Potentially benefit from appreciation.

Stop "throwing money away" on expensive vacation rentals.

But there's another side.

When I rent a beautiful house for a week, I'm not wasting money.

I'm transferring risk and headaches.

The owner gets the appreciation, if there is any more left.

They also get the leaking roof, the broken plumbing, the hurricane risk, and the phone call at 11 p.m. when something goes wrong.

I get the beach.

And perhaps more importantly, I get my time back.

That's made me rethink something about spending money as I get older.

After living through crashes, recessions, bubbles, and corrections, it can be surprisingly hard to give ourselves permission to spend money—even when the financial plan says we can.

But maybe the goal isn't always to accumulate another asset.

Sometimes money is best used to buy flexibility, time, and freedom.

At 24, my dream was owning the Nantucket house.

At 54, my dream is having the freedom to rent one when I want—and walk away when the week is over.

Because what I really want to own is my time.

I want to build a business that means something to me.

Do meaningful work for my clients.

Run every day.

Spend time with my family.

Raise resilient kids.

Apparently, I don't want to spend the second half of my life calling someone because the septic tank is full.

Maybe getting older isn't about finally getting everything we always wanted.

Maybe it's about finally getting a handle on what we actually enjoy doing.

If you need a fresh perspective on your financial plan, please reach out!

Tiffany Kent

Your Friendly Wealth Engagement Guide

Disclosures: Past performance is not indicative of future results. This material is not financial advice or an offer to sell any product. The information contained herein should not be considered a recommendation to purchase or sell any particular security. Forward-looking statements cannot be guaranteed.

This commentary offers generalized research, not personalized investment advice. It is for informational purposes only and does not constitute a complete description of our investment services or performance. Nothing in this commentary should be interpreted to state or imply that past results are an indication of future investment returns. All investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to consult with an investment & tax professional before implementing any investment strategy. Investing involves risk. Principal loss is possible. Wealth Engagement LLC is a registered investment adviser. Registration does not imply a certain level of skill or training.