By Keagan Kinsella | February 1, 2021
Welcome to February’s financial planning newsletter! I don’t know about you but during this past month it’s been so interesting to see the way people think and act when it comes to the idea of money! Between the crazy things that happened with Wall Street and Robinhood last week, and the Powerball billion-dollar lottery, it’s clear finances are very personal to how people feel about certain things. Personally, something that boggles myself is how the concept of “why not me?!” changes in different situations. When it comes to winning something like the lottery, or making a fortune day trading stocks on Robinhood – where the chances of “winning” are miniscule, people still buy in so easily and can start to imagine everything they would do when they are the lucky one.
But on the other hand, I think about how easy it is for us to convince ourselves of the exact opposite, “it could never be me?!” For example, when we are on a plane, how we can easily accept the fact the chances of us needing to land on the water and have an emergency evacuation will likely never happen! Just a random thought, as I write this from the airplane…
If you’ve been reading for a while, this newsletter includes an array of topics that revolve around finances, but in a common sense, simple, quality of life focused way. For example, buying shares of Dogecoin (you may need to look that one up), or buying a lottery ticket are best suited for entertainment purposes, rather than legitimate financial planning tools!