Why Tim Baker, CFP® Bought a Depreciating Asset
On this episode, sponsored by GoodRx, Tim Baker talks about his recent decision to buy a depreciating asset, how his journey becoming a Registered Life Planner® (RLP®) impacted his decision, and how he coaches clients considering big financial purchases.
Summary
Your Financial Pharmacist co-owner & YFP Planning Director of Financial Planning, Tim Baker, talks about his recent decision to buy a depreciating asset. He explains why he would purchase an asset that he knows will go down in value and how it became part of his financial plan.
Tim shares what the depreciating asset purchase is and how he and his wife arrived at their decision. After learning a bit about life planning and its incorporation with the financial plan, Tim realized that one of his goals was to make lifelong memories with his family. Tim and his wife decided that purchasing a motorhome was part of their life plan, allowing them to take adventures across the country, creating those lifelong memories, as Tim did with his own family growing up.
He explains how his journey to becoming a Registered Life Planner® (RLP®) surfaced this experience-based purchase and how the financial plan can and should support the life plan. Tim further details his coaching philosophy when working with clients weighing whether or not to make a large purchase. He considers the entire picture, not just the ones and zeros, creating a plan that benefits the client financially, balancing financial wealth with the client’s idea of a wealthy life. Investing in yourself in ways that align with what a wealthy life means to you ultimately makes for a healthy financial plan by taking care of the whole person.
Mentioned on the Show
- YFP Planning: Financial Planning for Pharmacists
- Book a free Discovery Call with YFP Planning
- GoodRx: Nominate Your Favorite Pharmacy Professional
- YFP 001: The Genesis of the Your Financial Pharmacist Podcast
- YFP Real Estate Investing Podcast
- George Kinder: Three Questions About Life Planning
- Seven Stages of Money Maturity Workshop
- EVOKE® 5-Day Life Planning Training
- YFP 212: Checklist for Building a Strong Financial Foundation
- Your Financial Pharmacist Disclaimer and Disclosures
Episode Transcript
Tim Ulbrich: Tim, welcome back to the show.
Tim Baker: Yeah, good to be back, Tim. Thanks for having me on.
Tim Ulbrich: Before we jump into your story of purchasing a depreciating asset, you and I were talking this past week about how grateful we are for the journey that has been this podcast over the past several years. We started Episode 01 back in July 2017, didn’t know exactly where we were going to go, how long we were going to do it, but are grateful to be here today, over 225 episodes in, three different shows on the channel each week, recently surpassing an important milestone: 750,000 downloads of the show, so pretty awesome, right, to reflect on that journey?
Tim Baker: Yeah, it’s incredible, really. You know, we talk with a lot of prospective clients that we work with one-on-one with YFP Planning. You know, when you get those comments of like, ‘I’ve been listening to you for so long,’ and you kind of build a relationship with your listeners and you know, after the red drains from my face experience in that, it’s also very something that I’m proud of and I think we should be. And it’s been a good forum to really showcase, you know, like what we believe and our approach to money, and I think this is — and wealth building — and I think this particular episode is another step in that. And you know, it’s just been a great forum for us I think to take something that maybe is a little bit — can be a little bit dry and boring for people and get them excited about it. And I think the podcast has been one of the most monumental things that we’ve done. And that was really kind of the first big thing that we’ve done together, Tim.
Tim Ulbrich: Yep.
Tim Baker: And I think it’s been just a great launchpad for our partnership.
Tim Ulbrich: Absolutely. And one of the great joys we have is, you know, we get periodic emails from those that are listening to say, “Hey, Tim, I was listening to this podcast and I did this or it inspired me to take some action or to work toward this goal,” and you know, those mean so much to us. I think the goal with this podcast is to hopefully inspire, to motivate, to educate, and we believe this topic is a lifelong journey. It’s something that we’ve practiced in our own lives and I’m hopeful that folks find it as a source of inspiration. So all this to say thank you, thank you to the community for listening, for staying with us, for sharing the good news with others as well, and we appreciate those that have been listening to the podcast and many who have even contributed with being a guest on the show. Alright, Tim, it’s confession time. So I’m putting you on the hot seat in front of the 35,000 or so folks that listen to the show each month to really, you know, ask you why as a financial planner did you decide to make a purchase of a depreciating asset. And so let’s just start with the purchase. What was it? When did you make it? And give us a little bit of the why behind that.
Tim Baker: Yeah, so my wife and I, we purchased a Class C Thor motorhome over the summer. It’s about 30-31 feet. It sleeps 10, so it has a bunkhouse, you know, bunker with a cab, kitchen, bathroom, you know, the whole — dinette — the whole 9. And yeah, we purchased it over the summer from a guy here in Ohio. And it was a long time coming — well, I wouldn’t say a long time coming. It was and it wasn’t. But that was the purchase that we made, and for someone who is very much thinking about finances and things like this and growing wealth, this was not necessarily a move that helps in that department. You know, lots of storage costs and repairs and it’s a 20 — I think it’s a 2014 with about 40,000 miles on it, storage, insurance, the tax that we paid on all that stuff adds up. But probably one of the better decisions I think I’ve made, even in — it’s early, so check in with me later — but I think just great in terms of what I think this can do for our family and the experiences that we can have. And that’s really the crux of why we decided to kind of pull the trigger on this.
Tim Ulbrich: So it’s been over a month, right, now, maybe even two?
Tim Baker: Yeah. I think we bought it in August.
Tim Ulbrich: OK.
Tim Baker: So we’re recording here in October. I think August is when we purchased it. Yeah. So — and back up, like this was something — and I give my parents a lot of credit growing up. When I was preteen, my parents bought — we first had a travel trailer growing up, so like we had one of those old conversion minivans and a travel trailer. And we took a trip when the three of us were I think preteens. I have an older brother and a younger sister. And we did four weeks, and I grew up in south Jersey, kind of outside of Philadelphia. And we did a four-week trip to as far west as the Grand Canyon, Mount Rushmore, the Alamo, Yellowstone. And for me, that was transformational. And I think that’s one of the words that I would use for this episode is really that. And you know, it kind of really changed my perspective, oh wow, when you drive west, there’s just — just the topography and there’s just so much to see and people are just different and they speak different. And it really broadened my — I don’t know if I would say worldview, but at least my domestic view of the United States and really kind of lit a fire for me to want to travel and see other things. You know, we did other trips outside of that and my parents would take it up to West Point for football weekends, and it was always like a great reprieve, like being able to go inside and like kind of hang — like chill and not always be buttoned up in uniform and things like that. So I kind of just equated that to freedom. And for awhile, you know, I was like, man, I would love to do this with — I was first thinking like when I retire, so like when I’m in my 60s, 70s, and you know, get a big old rig and drive around. But I just started thinking more and more, and as I went through my experience with life planning, really kind of changed my perception or at least my timeline, so to speak.
Tim Ulbrich: So Tim, I want to talk for a moment, you know, we talk on this show before we — I know the planning team does as well. Anytime you’re making a significant purchase or any purchase, for that matter, it means you’re not doing something else with that money, right? So the economic term here being opportunity cost. So you know, as you’re looking at making this large purchase, I know I’ve heard you talk about real estate as a goal, obviously something that you and I are both bullish on and see a growing interest in our community and in large part why we’ve got the podcast that David Bright and Nate Hedrick are doing a bang-up job leading each and every Saturday. So whether you look at say, hey, could this money go to real estate? Could this money go into long-term investing or a brokerage account? You know, could this money go into the 529 account? I think this concept of opportunity cost is — we often talk about it in terms of the dollars and making a decision, but I think there’s also an opportunity cost to not making decisions as we make the connections of how our life plan is supported by the financial plan. So just to nerd out here for a moment, if you were to put $40,000 or let’s say $50,000 and save that for 40 years at 8%, you know, that’s $1 million. So there’s the $50,000 purchase, and then there’s that hidden cost of what that could be if that money were to grow over 40 years. So just talk us through that process as you evaluated this purchase. I suspect others might be thinking the same as they’re weighing big purchases. Like, how did you both consider the opportunity cost and then eventually get to the point where you overcame just the mathematical aspects of it to determine that this was the right decision for you, for the family, and the goals that you guys have?
Tim Baker: Yeah, it’s a great question. And you know, I think for all the way up until almost like go time, you know, it was real estate investment. You know, we — my Ally account that this money was being, like where this money was, was called “Real Estate Investment Account.” It might still be called that. I don’t know if I ever changed it to like “Motor Home Account.” I mean, it’s fairly empty now. We paid cash for this, and I didn’t want to put a note on it, so I wanted to kind of keep in the budget that we were — that we had. But you know, I think it comes down to like windows, right? So I’m really bullish on real estate, and we have one property that we completely gutted and redid our home in Baltimore and are renting that out now since we’ve now moved out to Columbus, Ohio. And that’s been great. And I wanted, I definitely want to do more of this. But when I say “windows,” it’s kind of windows of time. And that’s what life planning is really about. And you know, specifically about the length of your life, but in this case, when we sat down and we were looking at our plan, I asked my wife Shea, I was like, “Is this really what you want to do?” And she’s like, “Yeah, of course it is. This has been — this is the plan.” And we kind of had this role reversal because I’m more of the — and I see this a lot in couples. I’m more of the person that is thinking like long-term and making sure that we’re doing what we need to do to have a wealthy life in the future. And my wife is typically like, hey, we’ve got to make sure that we’re doing — we’re living our life today.
Tim Ulbrich: Yep.
Tim Baker: But in this case, it was kind of a little bit of a role reversal. And I asked like, you know, I asked the question, is this really what you want to do? And she’s like, well yeah, that’s the plan. But then once I said kind of a combination of these words, she’s like, you’re right. So I basically — what I said to her was, Olivia, our oldest — we have Olivia who turns 7 this Halloween, so in about a week or so. She’ll tell everyone about it. She turns 7 this year. And we have Liam, who turned 2 this year. What I was examining, like I was kind of thinking about this as like, we only really have with her, I don’t know, six, seven years maybe until, you know, we’re no longer cool, like she doesn’t want to hang out with us. You know, you get to the teen years —
Tim Ulbrich: And we’re running out of time.
Tim Baker: Yeah, we’re running out of time.
Tim Ulbrich: Sure.
Tim Baker: And you know, I thought about that even with like the trip that I took that, you know, my brother two years older than me, he was kind of right on that preteen. And we had a good time, but I don’t know — like a summer or two after that, I don’t know if that trip would have worked. So when I put that in context in that kind of emotional tug that that gives you and specifically my wife, she’s like, where do we buy a motorhome? Like where do we do this? And that was really it. You know, that was really what brought us is that, you know, I view this purchase as an investment. You know, so many people view this as an expense. And if you do that, it doesn’t really work. And believe me, there are lots of expenses that are tied to this. But if you view this as an investment, you know, a memory-maker investment, that’s where it works. And I’ve had conversations, you know, we kind of bought the motorhome with my sister and her family in mind. They have twins that are a little bit older than Olivia and our boys are about 10 days apart, so they’re like best bros. So we kind of bought it with them in mind, hoping to share this with their family as well. But they’ve actually been thinking about buying their own and kind of doing big trips and like taking a year of that and all this kind of stuff. And for them, it’s hard to get — like they’re doing it down to the penny in terms of expenses. I’m just thinking — like it’s just tough, that’s a tough sell. It is a tough sell. And I get it. Like as a financial planner, it’s good to do that. But for me, this was really about letting go a little bit. And again, I know in the back of my mind that we’re going to be OK for the future and we’re doing a lot of things in that regard and we have a fully-funded emergency fund and all of those things. But to me, like the emotion, which is what drives our choices of I want my kids to experience similar things that I was fortunate enough to experience as I was growing up, and I think we only have a window of time — and not to say that when she’s a teen and things like that, but when you’re camping, like to me, it’s close quarters. Like you’ve really got to love your kids and your family and I think it gets harder as you get to be a little bit older. But that was the impetus, really. And a lot of that really is rooted in my own life planning journey of how we got to even make this transaction.
Tim Ulbrich: Such a good, reminder, Tim, about, you know, if we only look at the numbers — and here, you’re talking about one thing. I would argue that applies to other things as well where if you’re looking at this only as an expense, we would never make these life planning decisions.
Tim Baker: Right.
Tim Ulbrich: Or these decisions that spark the life, right? I mean, I get the numbers. If instead of buying a motorhome, whether that’s $40,000, $50,000, $60,000, whatever — let’s call it $50,000, if instead of buying the motorhome, you saved $50,000 and you put it into a long-term savings account and it grows for 40 years and you have $1 million. In one, we’re looking at $50,000 of a purchase that’s going to go down in value and has other expenses. And in the other, we’re looking at an investment that’s appreciating and is going to be worth $1 million or more. Like but what we’re really trying to highlight through this journey and through the discussion around the planning process and the importance of bringing out these goals and visions that you have for your plan and for the family and for you individually is that it can’t just be about the numbers and the expense. And Tim, you’ve mentioned a couple times now life planning. Tell us more about what is life planning and how did your journey in going through not only your own life planning but ultimately being registered as a life planner and being able to use that skill set for clients of YFP Planning and training the rest of the team? Like what is that life planning process? And how did going through that journey ultimately lead you down this decision here?
Tim Baker: Yeah, so I found out about life planning kind of George Kinder, who’s kind of the founding father of life planning, and his three questions. And it’s something that once I went through the three questions myself years ago, I immediately incorporated that into kind of our goal setting. We call it Script Your Plan at YFP Planning. And we’re — that’s what we’re doing is we’re kind of saying, OK, now that we know kind of where we’re at, we’ve gone through a get organized, where is all the — what do the finances look like, let’s talk about where we want to go. So we do the three questions with clients now, but I think for me, what I — it was powerful to go through that myself when I was answering those questions, and I found out that there’s a registered life planning designation, RLP, that I just finished this year. And really, it’s been a couple years in the process that I have been going through that. What life planning is, to back up, they say it’s kind of financial planning done right. It’s really about putting first things first. You know, we often live our lives by like a paradigm that is not ours. It’s been kind of something that’s been dictated to us over the course of our lives, you know, get good grades, get a good job, earn a lot of money, that type of thing. But for a lot of us, we kind of get stuck on that, stuck in that, and we can sometimes fall into this state of not really examining our lives and not really saying like, is this really what I want? Is this what I’m doing right now, is this what a wealthy life is? And again, it’s not just about the 1s and 0s, it’s about what are you passionate about? What enriches your life? So years ago, I went out to Arizona and I did the first step, which was the seven stages of money maturity, which kind of focuses on listening, believe it or not. So as planners, we need to shut up. And so much of us, we see like student loans, OK, this is what you do, dah, dah, dah, dah, dah. And there’s a plan. But it’s really about focusing on your client and being there with them, being present with them, and not trying to overpower or not listen. And it’s about communication, kind of the client-planner attitudes, the biases and behaviors that we grow up with, so understanding that. You know, one being money is the root of all evil. Like where does that come from? Or you know, don’t trust — like some of those things were built into me I think. You know, my mom came from a very — her upbringing was tough. And I think some of those were kind of implanted on me. And you go, I have to understand that. And we see a lot of clients with that type of thing. So that was eye-opening. And really the next stage, which I think was truly transformational, was a five-day in-person training called The Evoke Life Planning Training. And this is where you actually go through the different stages of life planning. So I was life planned myself. And I life planned my partner Dan, so shout out to Dan. And I think this for me was very transformational. I kind of went into that training not knowing what to really expect but came out saying like, I am burnt out. My schedule is not mine. You know, kind of what I’m doing right now is not healthy. And from there, you know, I changed a lot of things. But the big thing that I took away from that was my vision meeting, which is the second — you know, it’s all about uncovering your kind of most exciting, meaningful, and fulfilling aspirations. And when Dan went through that with me and lit my torch, it was about really the motorhome and doing that with my family. And I still remember that meeting like it was yesterday. And you know, you go through that and you know, you create so much energy that that’s all I think about. Like that’s all I thought about for a while. And it took me longer than I thought to get it done, but you know, you could run through walls. And then finally, the life plan that you go through like a mentorship, which is like a six-month thing where you go through case studies and one-on-one guidance and group conferences and things like that. So that finished this year. And to me, the challenge that I have now is how do I best inculcate and integrate, I should say, the life planning methodologies into what we’re doing with clients. Right now, we do portions of it, and I tested out kind of the full Evoke method on clients and trying to figure out how to best balance getting to the core of what a client is passionate about but also making sure that we’re soothing the pain that are student loans, investments, tax questions, insurance, home buying, all that stuff. So that’s my challenge going forward. But I think to me, it’s where you really create and have meaningful relationships, meaningful conversations. And that’s what the RLP is about. And I think without me going through it personally, I don’t think that we would be at this step. And like I said, to go back to the whole if you invest this money, what would it be in 30 years? $1 million. I’m like, that’s great. But I would suspect that if you asked a 30-year-older version of myself, I would trade that $1 million for I think the experiences that we’re going to have with this investment, the RV, and with my family. And that’s I think what this is really about.
Tim Ulbrich: And I think that’s what a good coach does, right, what you just mentioned there is ask that question or ask the right set of questions that get somebody thinking about what might 30-year-into-the-future self think of this looking back? And you know, I think there’s some good accountability in that process. I think as you’ve gone through the RLP and just briefly scratched the surface here, I think that has really enriched the planning process and obviously you seeing the value of that being able to bring that effort to clients of YFP Planning, so I’m grateful for that. Tim, I’m looking at your credentials now on LinkedIn. You’re starting to look like a pharmacist with all these letters after your name.
Tim Baker: Alphabet soup. Yeah, I know. I’m working on a few others.
Tim Ulbrich: I was going to say, you’ve got one coming down the pipe, right, the RICP is coming. So.
Tim Baker: Yeah, if I can study, if I can get studying for it, yeah. I mean — and again, I think, you know, one of the things that one of our core values at YPF is optimize you and you know, I’ve been in organizations where it’s stagnant because hey, we’ve figured everything out and we’ve seen everything. And I think that’s just poison to an organization. So you know, I’m not necessarily one for designations just to get them, but I look at it in terms of what can this provide to our practice? How can this further benefit the clients that we serve? And you know, I think that is important. And you know, having that. And it’s funny. I always kind of go back to this story. When I graduated from West Point, I’m like, ‘Well, that’s it. I’m done with school. I never have to pick up a book or do anything.’ And you know, really that changed more when I became an entrepreneur and now I’m a — I read all the time and listen to podcasts and I’m always trying to figure out ways to do things. And I think, you know, that’s the message really even to our clients is keep evolving and keep sharpening the salt, so to speak. You know, I think that it just, it leads to more of an enriched life but also I think it just can continually improve your skill set. And again, like the RLP, the Registered Life Planning, there are advisors, financial advisors, that have taken this training and have stopped being financial advisors. Like all they do is the front end life planning and then they hand it off to advisors. And I actually thought of like even doing that internally is you know, having just life planners that are doing this front-end work that it’s a form of planning, it’s a form of coaching, and then hand it off to our CFPs to kind of, you know, put a lot of that into practice. So it’s an option that I’ve been playing around with. And I think the cool thing about this is you don’t have to have all of the other financial designations to do this, but to me, it’s how do we further enrich ourselves, enrich the lives of our clients?
Tim Ulbrich: Yeah, and you mentioned Kinder and the three questions. We’re going to link to those in the show notes for those that want to dig a little bit deeper. And for those that are hearing this in real time saying, “Hey, I’m really interested in having a financial plan that also considers some of what we’re talking about here around the life plan,” we would love to have an opportunity to talk with you to see if the services offered at YFP Planning are a good fit for you and the financial goals that you have. We do a free discovery call, you can learn more, schedule that at YFPPlanning.com. Tim, talk me through the process not only that you use but in coaching clients of YFPP that are making a big financial purchase, right? It could be a home, whether that’s a first home, an investment property, a vacation home, could be a car, could be a motorhome. What questions are you prodding to help them reflect upon that purchase that hopefully leads to a situation where there’s a purchase that has confidence behind it and not one that leads to buyer’s remorse?
Tim Baker: I think that you know, this is a process, right? So it’s not — you can’t look at it in a silo. I probably wouldn’t have made this type of purchase without a good, solid foundation. So like you know, cash emergency fund, a good savings plan beyond that, I think doing well in the investments, stable job, all those things. But beyond that, you know, like what we often ask clients is if we get into the Delorean, the imaginary Delorean, and we go ahead five years, like what does success look like? You know? If we look back at those five years. And I like to kind of equate age with that because I’m turning 40 next year, Tim, so like in 30 years, I’ll be 70, which is kind of like where my parents are. My dad’s a little bit older than that. So like trying to put myself in their shoes and like what do I want to accomplish because the further away it gets, the harder it is for us to kind of like feel that time. So I think framing it — and just for a lot of us, it’s actually just sitting down and actually asking some of these questions of ourselves. Like I said, I always tell the story when I was — my first job out of the Army was Sears/Kmart. So I would drive to work in the dark at 5 in the morning, and I would drive home in the dark at probably 6 at night or 7 at night or something like that. And those drives I would never remember. Like I would get in my car, and I was on autopilot. And so many of us, like that’s our life is like we’re not really thinking. It’s kind of an automatic thing, so like even asking ourselves these questions, so I think it’s — that’s part of it. It’s just going through that process and examining is this what we want to do? And if it’s not, what the heck are we doing about it? So like one of the things I say to prospective clients, you know, we might go through the wealth-building stage of the financial plan and we’ll do a nest egg calculation that says, ‘Hey, Tim, you need $5 million to retire.’ And that’s typically where they look at us like we have 5 million heads, right, because it’s a big number that’s in the future that doesn’t really mean anything to me. So you know, we go through the process of kind of discounting that back to a number that says, OK, if you’re putting this into your TSP or this into your IRA or this into your 401k a month, you’re on track or you’re off track, right? So we can kind of break that down into more of a digestible number to see if we’re trending to that goal given, you know, a handful of assumptions. But the point of this story is if we do work together for the next 30 years, and you don’t have $5 million, you have $7 million, $8 million, $10 million, whatever that is, that’s great. Like those numbers are bigger than $5 million. But if you’re miserable because you look back at that list of all the things that you wanted to do over 30 years, 20 years, 10 years, whatever that is, and you haven’t done anything and you’re miserable because of it or you’re disappointed, the question I would ask you is what’s the freaking point?
Tim Ulbrich: That’s right.
Tim Baker: Why get this education, why earn this money, why pay down this debt, why invest, whatever, if we’re not going to intentionally direct it to the things that matter to you most? And I don’t think that I’m going to be on my death bed and I’m going to say, “I wish I would not have bought that RV.” I just don’t think that in my heart of hearts because of just — I just think about the reaction that my daughter and my nieces had, just when we pulled that up. And even the two camping trips that I had, I think I snapped a few pictures and texted them to you, Tim, even in our first camping trips, it’s going to be an adventure. And to extrapolate that out, like that’s our lives. Our lives are adventures. But we have to be willing to take it, you know, and seize it. And I think that’s what life planning really tries to get to the surface is what is that adventure? And taking that road and not necessarily adapt to a paradigm that’s not yours.
Tim Ulbrich: Yeah, and you talked about this, I think there’s some really practical things, right, making sure do I have a good foundation in place? We talked about that on Episode 212, you know, what does it look like to have a good, strong financial foundation in place. You know, looking at the value that this purchase is going to add, what are the alternatives, right? We talked a little bit about opportunity cost. You know, waiting a little bit before making that purchase and feeling that peace and the thought that went behind making the decision. But you know, as you highlighted, I think the example of fast forward looking back and really asking some good questions to reflect on that, so, so important. So and you mentioned that — if I heard you correctly — it’s the Thor, right? Which is great. I just see like Tim Baker behind the wheel of the Thor and think of the Thor films, which is fantastic.
Tim Baker: Yeah.
Tim Ulbrich: Where has it gone so far? Where is the Thor going in the future?
Tim Baker: Yeah, so we’ve just done basically weekend trips in Ohio. We’ve just done camping sites that are within a few hours’ drive. So we went up to Cedar Villa one — that was our most recent one. I think next year it’s really looking at some of the national parks. And it’s a lot — it actually is different than growing up. Like you have to book these pretty well in advance, so if we want to go to Yosemite or things like that. And you know, I kind of look at this as like, you know, some summers of adventure is really to get the kids, especially when Olivia is not in school, and go out and do it, you know? And you know, a lot of it is, you know, just being outside of your comfort zone. I don’t think I’ve ever driven something this big, but it’s fun. And you know, it can be a little stressful, and that can be true for whatever your life plan is is that it can be outside of your comfort zone. But it’s one of those things that, again, I’m tooling down the road and I look back and the two boys are in their car seat just gabbing on and the girls are doing their thing. And it’s brought me a lot of fulfillment already, and I think one of the things Shea and I have a long drive here this afternoon heading back to Maryland for a wedding. That’s one of the things we’re going to talk about too is what is the slate of trips? And start scheduling them. And I’m really excited for that. So it’s a journey. And I’m excited, I’m excited for what’s in front of us and again, to me, I look at this as a window of time with our kids. But just to extrapolate that out further, like we have a window of time, which is our life. And again, to kind of bring it back to life planning, it’s really important that we’re taking full advantage of that and not necessarily leaving anything on the table.
Tim Ulbrich: Yeah, one of the things we’re blessed with here in Ohio, Tim, shout out to the Buckeye State, is just some awesome state parks. So you know, trips locally and I know you’ve got a sabbatical coming up here. So one of the benefits we offer for the team at YFP is when you get to the five-year mark, we’ve got a month off and some funds to take a trip with the idea that we’re supporting the things that are central to the life plan. So pressure’s on, Tim, to be planning that, that sabbatical when it comes to the motorhome. Great stuff, Tim. Appreciate your willingness to share the story. And again, for those that are hearing this and interested in taking that next step with the financial plan, especially considering some of the dreams and goals that you have for you individually or for you and your family, love the opportunity to talk about the services at YFP Planning. You can learn more and schedule a free discovery call at YFPPlanning.com.
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