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It's 8:30 AM on a stunning winter morning in Picton, Saturday, June 1st, and I am about to embark on the Queen Charlotte Track. I’m savoring a fresh coffee from Toastie Lords, the warm sun on my face as I wait for the 9:00 AM Cougar Line water taxi to depart.
My destination is Ship Cove. I'm nervous about how my bike will be transported; the thought of salty ocean spray all over my beloved bike makes me anxious. As I board, I watch eagerly as the skipper secures my bike. I can’t resist checking the ropes before settling in for the hour-long boat ride.
I strike up a conversation with a group of four planning to walk the trail over three days. I’m the only mountain biker. We chat about the weather, my bike, and my biking-specific socks themed after Monsters Inc.
We arrive at Ship Cove, and in the excitement of arriving, I miss the instructions from the skipper. By the time I’m off and ready, the walkers have all departed. I ride off the jetty, feeling a wave of panic as I have no idea which way to go. Rookie mistake—I forgot to download the trail map on Trailforks, and there's no signal.
A stroke of luck! I come across a group of people and a ranger who confirm the direction. I’m off.
As I embark on the ride, I notice something about myself: I am suddenly in race mode. I find a rhythm, and all I am focused on is getting to Punga Cove. Why am I in such a hurry? I have all day to ride 28 km.
Maybe it reflects how I have lived my life. Even as a child, I was always in a hurry, impatient; I wanted everything now. Racing, as opposed to pacing, was the order of the day. This brings me to the point of this blog. We all have our style when it comes to the pace and way we live our lives, and how we go about our own journey with money.
Mountain bikers have a saying: Ride Your Own Ride. This is about enjoyment but crucially about safety too. To enjoy the best ride and come out of it in the best shape, we have to focus on our own pace and abilities, and not try to match the guy next to us. This saying can also be applied to life in general, and our finances as a part of that picture too.
Getting to know ourselves, our personality types, our habits, and our biases will help us make better decisions not only about life but also how we spend, save, invest, and share our money.
For some of us, it’s save, spend, and have experiences—life is short, so let's enjoy the journey. For others, it's spend now, have some fun, and figure out the future later. Or maybe we save hard, resist having fun in the fear of not having enough in retirement. The challenge then is, we get there and are still afraid to spend our money. How do we rationalize the best approach? What are our personality types, and how does this translate to our financial journey?
In my work as a financial adviser and planner, I have seen it all, and there is no right or wrong answer. Each ride is personal.
My oldest son is the opposite of me – a pacer, not a racer. He is the walk-slow, constantly curious type, looking at the plants or searching for a species he hasn’t seen before. Take him to a museum, and he has to read everything. Given this, he will no doubt treat his finances differently than someone like me, and that is cool. Each ride is personal.
I arrive at Punga Cove. I made myself stop several times to enjoy the views, take photographs, and listen to the birdsong. I am here early; even with the stops, I still pushed hard. But I realize now I can relax. I check into my chalet, savouring the view—it is stunning. I walk down to the spa, and as I slowly lower my aching body into the hot water, I feel a wave of relaxation. Eyes closed, the gentle rhythmic sound of the waves rolling up onto the beach.
This is my style. Yes, I may have been in a hurry, but now I’m here, it's all about the moment—the sounds, the feeling of satisfaction, the hard work paying off. Now I have all the time in the world to soak it all up. I am living the dream.
Day two is a long, hard day, twice the distance, and some long, arduous climbs. Today, there is a need to keep a good pace; I have to meet the water taxi at 3:00 PM in Anakiwa for the ride back to Picton. There is another parallel to financial habits. I take the time to map out a plan. I know my average speed over a similar distance and vertical meters. I calculate the time to the destination, the effort required to get the outcome, and how long the stops can be along the way.
When we have a financial goal in mind, if we timeline it, quantify it, and then work back from there, we can ensure to put the steps in place to get the outcome. Stop and have too much fun along the way, and you won’t make the destination when you want to. Push hard and put in the effort, and you not only get to stop and savor the moment when you get there but also have time and resources in hand.
What does your journey look like? Are you living the dream today, or saving to live the dream later? The contrast between rushing to a destination and savoring the journey mirrors our approaches to financial planning. Some rush to save and invest, delaying gratification for a secure future, while others prioritize immediate enjoyment, trusting they’ll figure out the future later. Neither approach is wrong, but balance is key. Furthermore, making deliberate choices around that is so important.
Finding harmony between enjoying today and securing tomorrow can make for a fulfilling journey and a rewarding destination. I encourage you to take a moment to think about your own personality type and if you think that this will either help or hinder you achieve your future goals.
Feel free to reach out to me and share some of your ideas and journey.
Dean.
Hi everyone! My name is Dean, and I am Financial Adviser and coach. I work with people to help them to achieve their financial goals and assist them to make smarter financial decisions. Drop me a line for a chat and to work through your goals. I work with you to become financially fit and together we create a game plan for your financial future. D.
Disclaimer: Dean Blair (FSP87402) is a Financial Adviser with Velocity Financial (FSP95466). No investment decision should be taken based on the information in this blog alone. Please see Dean’s disclosure statement on our website.
Always get professional advice
The information shared in this post is meant to be general guide to support you on your journey. When making important decisions about your finances, we encourage you to seek independent financial advice first, tailored to your unique situation. As well as talking with a financial adviser, make sure you talk to your lawyer and accountant too – together they'll help you find the best solution for your specific situation. Our knowledgeable financial advisers are here to help. Check out our website for the details about our financial advisory services in our disclosures https://www.velocityfinancial.co.nz/disclosure-statement.