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This is the time of year when financial writers dish out advice for the year ahead. But who wants another to-do list? Here are five things I won’t be doing in 2025:
Flying economy on international flights. Our 2024 trip to Ireland finally broke me. Sitting upright on an overnight transatlantic flight is just too much for my ailing body. I can manage economy on a daytime flight, but now find it pure misery when flying overnight. If I’m traveling to Europe, I need to be horizontal. My apologies to my bank balance.
Saving money. My two biggest “expenditures” in 2025 will be travel and financial gifts to my kids and grandkids. That’ll eat up much of what I earn. Other than funding my health savings account—too good a deal to pass up—I won’t be saving any money in the year ahead.
Rebalancing my portfolio. My portfolio’s allocation to stocks has climbed higher along with the market. It’s now over 90%, and I have no intention of cutting back. After more than two years of healthy stock market gains, that might not be the most sensible short-term asset allocation, though—as always—I have no clue where share prices are headed next.
So, why the hefty stock allocation? I’m no longer investing for myself. Instead, I’m thinking about my heirs, meaning Elaine and my two kids. My time horizon is short, but theirs is long—and an aggressive stock allocation makes sense for them.
Buying new possessions. While I can see buying things for others or that I might share with Elaine, I can’t imagine purchasing any possessions solely for myself unless I desperately need them. Most possessions are designed to have lasting value and, given my diagnosis, I can’t see the sense in buying anything that fits that description.
Embracing upheaval. I consider myself a master of delayed gratification, long willing to sacrifice now for a better future. That, however, is seeming increasingly less sensible.
In 2023, we remodeled the kitchen, and we’re now wrapping up a remodeling of the upstairs bathroom. I was happy to deal with the disruption and hassle involved with both projects. But for whatever time I have left, I’d like greater control over my days. My afternoon naps are a whole lot more restful when someone isn’t drilling in the next room.
First the best to Johnathan and Elaine and their fine families for 2025 and beyond. For sure you should fly better. I too saved as much as possible over my 55+ years of work. For you and all the other it is OK to spend. At 78 I am now spending 2X than the previous 10 years average. CCRC’s can do that to you. Carry on my friend, I too am with cancer, however remember to DO what you CAN Do. You appear to be very well grounded.
We sincerely wish you all the best in the coming months, and we thank you heartfeltly for all the wisdom you bestowed upon us.
Blessings.
Happy New Year a little late, HD friends. Still catching up. Chris
With retirement now just months away for me, I’m realizing I have my own version of this list. It all feels funny to me after a very hard-charging career that’s lasted 40 years, but I’m starting to disengage.
I suggest that you engage in any and all activities that you enjoy. See a play. Go to a concert. Visit a botanic garden or local park. Eat out at your favorite restaurants. Don’t worry about the cost. You earned it!!
I’ll echo Marjorie’s comment. My list of “to do’s” and “not to do’s” is constantly reevaluated. May it be so with the entire HD community! Happy New Year – may it not be as weird as we fear.
Happy New Year to everyone reading. I recommend flying business on long distance flights, day or night, whenever possible. In order to do so I further recommend using credit cards that accrue miles or points. While it is a trade off against cash-back rewards I value lie-flat seats too highly to worry about it.
me too
I agree with all comments posted so far, especially ostrichtacossaturn, and send my best wishes to all 😊. Do something enjoyable today – I’m sharing Chinese takeout with a few other “young” ladies 👵🏻 a little later.
Happy New Year, everyone. About resolutions—do we really need more pressure—nah…but with each new day we get the opportunity to improve our life’s goals to attain a healthy body, mind and spirit.
Jonathan, Happy New Year to you and Elaine, and to the entire HD community. I think it is rational and healthy to think about the things we don’t want to do any more. Your article is inspiring me to think harder about my to-do and anti to-do lists for the year.
I think it “rational and healthy” as well. Sounds like we will both be following Jonathan and Ed who has also apparently already started one.
For different reasons, I’ve been building my own anti-to do list over the past few months. I hope that we, and others, fail to do all that we intend.
WHEREAS, Jonathan Clements has not only written about good financial habits for over three decades, but has also practiced excellent saving and investing habits over this period of time; and,
WHEREAS, Clements therefore built an investment portfolio generating sufficient income to meet his and his family’s reasonable financial needs for the future; and,
WHEREAS, Clements is now dealing with a serious cancer diagnosis in 2025;
BE IT HEREBY RESOLVED that the Humble Dollar community hereby expresses its collective permission for Clements to travel First Class not only internationally but also domestically, even if deemed unnecessary or improper; and,
BE IT FURTHER RESOLVED that the HD community collectively blesses all gifts to Elaine and the kids; a 90% stock allocation (as long as 10% covers all reasonably foreseeable liquidity needs for the next 5 years); the completion of all house projects and restful afternoon naps; and the purchase or nonpurchase of any possession as Jonathan and Elaine deem prudent;
BE IT FURTHER RESOLVED that Jonathan fully experience the pleasure of his gift of financial security bestowed by his lifelong personal finance habits to benefit not only himself but also his family members, as well as his gift of unbiased personal finance articles and education benefiting tens of thousands of his readers over the decades, including those in the HD community; and,
BE IT FINALLY RESOLVED that the HD community commits to a renewed sense of purpose and vitality for whatever number of days each of us is granted in 2025 or beyond, and that we collectively resolve to “seize each day” to accomplish whatever measure of good each of us can individually contribute to leave this world a better place for those who come behind us.
Kudos….spot on!!
Excellent post!
Brilliant! It’s only 7:40 a.m. ET on Jan. 1, and yet your comment is already in the running for one of the best of the year.
Standing ovation.
Gets my vote!