Atlanta Financial Blog

Focusing on Results that Matter

Focusing on Results that Matter

Chris Blackmon, CFP®, CPA
June 11, 2019

Recently, my wife and I bought a new house.  She fell in love with it immediately and could see us raising our girls in the house, how could I say no?  But of course, there were financial matters to consider.  So, the planner in me immediately went to my budget spreadsheet to “crunch the numbers” and determine if we could afford it.  We have both been blessed in our careers and while this new home is a stretch to the budget, the answer is yes, we can afford our dream home.  So we decided to move forward. Now just the minor details of negotiating the purchase of the new home and selling our old home.

This is where I think I approached the process differently than many.  There was only one result that mattered, purchasing our dream home – and a couple of variables that could derail it, the purchase price of the new home and the sales price of the old home.  If those numbers worked, we were moving forward.  With that in mind we made an offer which was accepted on the new home (and luckily below asking price.)  From there, we just needed to sell our current home – with the emphasis on “just.”  I had a floor in mind, anything below that just wouldn’t work.  Note, that floor may not have been the absolute floor to allow us to afford the home, but the floor that allowed enough margin in the transaction and our budget to avoid undue financial stress going forward.  The other side of that is that I was willing to leave some money on the table to accomplish the goal that was important to me, buying the house and moving our family into our Dream Home.  How does that relate to retirement planning?  Many people compare their results to the S&P, which has had a great run but does have a lot of potential risk, downside, and volatility.  And especially in retirement, downside volatility can derail all your best laid plans.  If you’re comfortable in retirement, you should be willing to trade some upside to achieve your ultimate goal, not outliving your money.

I’m learning from the older advisors in my life and other role models that while numbers matter and you must not make hasty decisions, there is a difference in maximizing your net worth and maximizing your financial happiness.  Sure, could I have haggled with the seller a little more, possibly?  If I would have waited longer, could I have gotten a few thousand more for my house, maybe?  Could doing either of those have derailed my ultimate goal of buying THIS house? Absolutely. In  the long-run, would $5,000-$10,000 affect my long-term financial success? No way.  Should I have pressed it? Absolutely not. When you face an important life decision, seek out the objective perspective and wisdom an advisor can provide, reach out to me at if you would like to discuss what’s on your mind.

Share This:

Share on facebook
Share on linkedin
Share on twitter
Share on google

Why Fear Shouldn’t Drive Your Investing

As the world has dealt with the COVID-19 pandemic over the last several months, we’ve seen an unprecedented impact to global stock markets.  The decline in US and foreign equities was surprising in both its severity and speed, with the S&P 500 falling more than 30% in just over a month.  This sharp drop from recent highs caused some investors to panic and race for the exits, preferring the safety of cash or treasuries to the volatile stock market.  While getting out of the market during a “freefall” might seem like the best move, over the long run it can actually do more harm than good.

Read More »

Strategies to Grow Your Wealth During the Pandemic

During times of market turmoil and economic uncertainty, its tempting to focus exclusively on risk – risk to your portfolio, your income and your plans for the future. And making sure your portfolio is aligned with your appetite for risk and with your time horizon for investing is critical.  But focusing exclusively on the risk of losing money can lead investors to overlook the opportunities market declines may bring. Baron Rothschild, an 18th-century British nobleman and member of the renowned Rothschild banking family, is famously credited with saying that “the time to buy is when there’s blood in the streets.” He took his own advice and made a fortune in the panic that followed the Battle of Waterloo against Napoleon. 

Read More »

AFA Gives Back to the Atlanta Community

Atlanta Financial recently donated $1,000 worth of Girl Scout cookies to medical first responders to assist both the local front line medical workers and a great cause, Girl Scouts, which has been impacted so severely by the coronavirus pandemic.

Read More »