Some people think there is an objective way to organize financial affairs. There is not. All financial affairs are organized in the particular person’s specific situation. Their context. Understanding context is very important. Physics can provide a guide.
It can help you see the point.
In quantum mechanics, the observation, the observer, and the way chosen to observe, form a system. You cannot establish reality in a general way, just reality in a particular context.
Here is a simple idea
Is the picture right side up or not? Would the image be different if it were rotated? If an experiment were run with this picture, could there be different outcomes depending on which image orientation you used? Possibly. If you did not include the context, would you have any way to explain the difference?
John Bell did a lot of work on contextuality. Chris Ferrie sums p his thought on contextuality like this, “contextuality is the name for the fact that any real states of the world giving rise to the rules of quantum physics must depend on contexts that no experiment can distinguish.”
Obviously it not the same exactly but some ideas soak through.
The planner, what they are trying to do, and what they observe when the implement their plan, form a system and reality (success or failure) is defined by the system’s limits. Bill Gates and I do planning somewhat differently. My tactics and resources will be different and the method used will only have meaning in my context.
Since context matters, what should you pay attention to in order to plan better
When you have a vision of yourself, your family, and what you want to make of your life, you can begin to plan.
Your context changes and so does what you pay attention to.
You will evolve in your ability to employ tactics and to understand your purposes and priorities.
Your plan will evolve too. Done once, done forever is a losing approach.
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I build strategy and fact-based estate and income plans. The plans identify alternate ways and alternate timing to achieve both spending and estate distribution goals. In the past I have been a planner with a large insurance, employee benefits, and investment agency, a partner in a large international public accounting firm, CEO of a software start-up, a partner in an energy management system importer, and briefly in the restaurant business. I have appeared on more than 100 television shows on financial planning, have presented to organizations as varied as the Canadian Bar Association, The Ontario Institute of Chartered Accountants, The Ontario Ministry of Agriculture and Food, Banks – from CIBC to the Business Development Bank.
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