Wealth Clarity Blog

Tim Tebow, the newly traded-for quarterback of the New York Jets, gave me unexpected inspiration about how to approach my own job and daily living in a recent ESPN interview.  By the end of the interview segment I was saying, “I want to be like Tim”. 

If you haven’t heard of Tim Tebow, you are either not a sports fan, or have been under a rock the past year.   

A polarizing figure, it seems people either love him or hate him.  He has created so much sports buzz because of his unorthodox and physical approach to playing quarterback, the now famous Tebow kneeling sideline prayer, and his overtly public Christian faith. 

In a sports world filled with plenty of overpaid athletes, huge egos, and anti-hero behavior, Tim has been refreshing in his positive attitude, clean language, encouragement, and passion to win.  In short, everyone loves an underdog and Tim has been that underdog done good. 

In the ESPN interview I mentioned earlier, and in many interviews I’ve heard over the past year, it seems everyone is looking for this guy to be a poser; I say that based on how they ask him questions.  They appear to be looking for chinks in the armor and where he might not be what he appears.   

He can’t be that positive or nice, right? 

Anyway, the ESPN interviewer tried every angle to get him to be frustrated about the media, angry about the criticism from sports fans, to comment about drama surfacing from teammates twitter messages, even absurdly asking whether he would be able to handle the Jets coach who is known to have quite a potty mouth.  

Through it all, Tim was an amazing professional; so much so that it caught me saying where did this guy learn how to be like that?  Who taught him those things?  Am I that positive about my job and my life? 

Gleening from the interview and taking some editorial license, here are three ways Tim approaches his life that can be applied to my life (and yours):

1. Tim focuses on looking forward and not back. He didn’t want to talk about what happened last year with the Denver Broncos, his prior team, other than it was a great experience and he was thankful for the blessing.  He instead wanted to talk about this new life chapter with the Jets.  So often I can get sucked into to worrying and talking about yesterday when I need to keep my focus on today and what is in front of me, not behind me.
2. Tebow views his life, and the current circumstances, as an exciting opportunity.  It is clear there are lots of things to worry about including a new team, new coach, new fans, and new system to learn.  It was clear in the interview that he wasn’t looking for something more or different; he was just excited about the opportunity right in front of him.  In my job it can be easy to be wishing the market would be higher, or the business would grow faster, or we had more resources instead of just being grateful for the problems we get to solve, and satisfied with the business I get the privilege of running
3. Tim is working daily to improve himself; the only things he can control such as improving his ability to read defenses, improve his strength and quickness, and throwing accuracy.  My own daily habits and routines whether they be in business, health, or spiritual, can all lead me to being a better and more joyful person.  I want to grow, too, and these daily steps are really the only things I can directly control. 

I hope that if ESPN interviewed me about my life and my business I would handle it with such professionalism and excitement as Tim did that day.  How about you?

There is a lot written about time management, and specifically, how to align your limited time resources with the highest value purposes.  Simply said, using your time wisely.  In fact, I wrote a post not long ago about the fact that you can’t buy back your time so don’t waste it. 

Taking a different tack on this concept, a recent blog post by Harvard Business Review correctly states, many people confuse being busy and working hard with accomplishing a life of purpose–or living fully as I like to call it.  Filling our time with lots of important looking activity (i.e. stuff) can be another big time waster because it keeps us from purpose driven activities that create real meaning in our lives.

In a recent meeting with a well respected local CPA firm, one of the partners was describing the value add they provide to clients.  In a world where precious few professionals focus enough energy on adding value in my opinion, I was impressed with his response:  

We allow clients to buy back their time. 

What a great concept and also a simple way to describe one of the key benefits that Highland strives to provide.  Knowing that successful and wealthy individuals have, and can control, most aspects of their lives through the choices their wealth provides; the one thing they can’t buy is more time.  However, they can pay to exchange that time into more valuable uses.   

So, what is your time worth if you were to buy it back?  Or better yet, to use it for something more valuable or important to you?  Don’t look at that question from a billing perspective, like an attorney, but instead ponder the value of freeing your time to pursue the things that bring you the most meaning and purpose.   My guess is that your time is extremely valuable when viewed through that lens.

John Wooden was famous for saying, “don’t confuse activity with achievement.”  Likewise, when considering how you spend your time, don’t confuse hard work with living fully.  

Time is a precious resource, and if you have ample financial resources, the exchange may be just the prescription you need to start moving closer towards the life you always dreamed of. 

What are you waiting for?

Two years ago, I used a Steve Jobs quote to emphasize a point about living your unique life with courage.   It’s even more relevant now.

See the October 2009 post titled, Your Time is Limited, So Be True to You

Our time on earth is short, and realizing that money can’t buy you more time, Steve’s comments about stepping fully into life, and specifically having the courage to be yourself are even more relevant today as we mourn his passing. 

I hope you take the time to re-read this post and be intentional and courageous today!!

President Obama, I understand that you are in Bellevue right now–just down the street–and I was wondering if you wanted to drop by our office for coffee?  If you are too busy I understand; however, if we did have coffee today, this is what I would want to say to you. 

I am generally a positive person but lately I find I’m getting tired and annoyed by all of the political rhetoric, posturing, and maneuvering.  With over twelve months until the next election there seems to be an endless stream of news stories documenting the huge challenges we face, the various solutions suggested by you and other congressional leaders and GOP contenders; unfortunately, the volume is only expected to rise in the coming months. My stamina to listen much longer is shrinking faster than the short summer here in Seattle.    

Don’t take this commentary to reflect any hidden political agenda because I’m not attempting to position one.  What I am attempting to highlight, however, has to do with what isn’t being said, and needs to be said:  

I am rooting for you to be successful as President of the United States—in fact, if everyone takes a minute to think about it, we all need you to be successful, because the consequences of failure are too great.  In fact, I want you to be remembered as the best President of my generation.  Your success is good for me, my family, my business, my clients, and our country.  

There are fourteen months in your elected term remaining and these are precious months for the U.S. with no time for waste.  Taking a position that nothing will get done, or can get done, because of a political stalemate is unacceptable.  It would be like the Seattle Seahawks fans hoping the team will lose this year so we can get a shot at drafting Andrew Luck (expected first round quarterback pick from Stanford) next year.  NO! We are on the same team as Americans and we want to succeed now, not next year with a new President.        

You clearly have a job that most Americans can’t and don’t want to perform, but from my “corner” office to your “oval” office I need you to do the following:  

1. Lead like you have never led before; don’t cave into the negativity or hide.
2. Be a leader that inspires me to be great and do great things in my family, my work, and my community.
3. Show us how to move forward as a country without regard to race, religion, or political beliefs. 
4. Admit mistakes quickly and openly, in hopes of finding the right game plan that will lead to success now.
5. Do what needs to be done because it needs to be done, not because it will get you reelected. If you fail, re-election won’t matter.
6. Give America the confidence to transform and once again achieve greatness in both our own eyes and that of the world.   

I’m rooting for you!  

Sincerely,

John C. Christianson, CFA

What is the “real” cost of your lifestyle?  Not the amount you spend each year but instead the other emotional and real implications of living the way you’ve chosen.  My recent trip to Africa helped put this in perspective in a way that was life changing.

There is something in the Seattle area called the “eastside lifestyle”.  It refers to the suburban area east of Seattle that tends to attract people with higher incomes and wealth.  It has less to do with location (as there are neighborhoods like this in Seattle proper) and more to do with the way in which upwardly mobile people tend to live.  It implies access to bigger homes and amenities, better schools and more Range Rover-type families, and generally newer everything.  Most communities on the West Coast, and elsewhere, have their “eastside” pockets or bubbles.  For many people, including our clients, the financial cost to live this lifestyle ranges roughly from $200,000 to $400,000 per year.

I’m not making a value judgment about this lifestyle (I live on the eastside), but my experience shows that the impact of living this type of lifestyle extracts a cost that is real and tangible.  I’m not referring to the actual dollars spent but instead the emotional and time implications, and the trade-offs we all have to make to live this way.

Real costs, or even symptoms of the eastside lifestyle, include:  anxiety and worry; thinking about work when on vacation or weekends; no margin in our lives; stress and pressure to get into the best private schools and sports programs; difficulty staying on top of the financial complexity, keeping up with the Joneses, etc.  These costs can be amplified further if there aren’t reasonable financial controls and boundaries around spending or the ability to say no.

This is where Africa comes in:  as the picture of this African family clearly shows, many people of Uganda have virtually nothing; average earnings are about one dollar per day. For this reason, Ugandans value everything they have and feel so blessed to have it.  Sure, they are enticed by the American dream, but they also realize that it doesn’t bring happiness or joy.  The have more love and community than we do by a long shot, and it was interesting to realize that it wasn’t because of lifestyle or status.

I came home realizing how blessed I am but also how many of these lifestyle costs I feel personally.  They can exhaust me, and drain valuable energy from me so that I’m not present and available to those I care about; they also limit my ability to use my blessings to impact the world around me.

I just don’t plain need all the things I have and quite frankly I was appalled at how often I carelessly handle and manage the many financial gifts in my life.  Here are a few of the practical implications of this lesson and a few of the changes I’m making in how I live my life:

• Buy less
• Making sure I understand whether it’s a want or a need
• Making do; let things wear out before buying something else
• Say no more often—it’s okay to deny myself things from time to time
• Reduce the number of “things” in my life that create complexity
• Improve my communication about money at home

These types of adjustments to lifestyle are hard to make.  We all get hard-wired into living modes that create difficult patterns to break. Even though I want to make changes I find I still fall prey to old ways of living, however, the first step in change is awareness.

Going against the grain, choosing to lead the un-eastside lifestyle, takes energy and commitment.  I’m curious to hear from those who’ve done it and whether you’d be willing to share your journey and what you’ve learned?

If you want to explore the concept of “significance” in your life take a trip to Africa. Why? Your comfort zone will be challenged at a minimum, and as in my case, your life might be changed.

It was about a year ago when my friend, Heather Tuininga, Executive Director of the Luke 12:48 Foundation asked if I wanted to travel to Uganda. She was planning to see both what the Foundation was supporting and also explore new areas of need in this beautiful and very poor country approximately the size of Oregon. After lots of planning, four of us including Eric, her husband, and my wife, Kelle, embarked on a 10 day adventure from which I’m returning today.

Over the coming weeks, I plan to share some of the things I learned and experienced. During my whirlwind tour, I saw the best and worst of Uganda: extreme poverty that would break your heart; the effects of a 20 year war in Gulu and the northern region near Sudan; laboring with local villagers to repair a well in the bush; meeting a broad cross section of people and organizations working diligently to provide a helping hand to the severely disadvantaged; and, witnessing the majestic wildlife and natural beauty that eastern Africa has to offer.

For the long-term readers of the blog you might remember that one of the core values at Highland is caring about people, and more specifically, caring about the world.   I told our team last year that I needed to explore what that meant personally before I could lead Highland credibly in this area.

The trip to Uganda was a wonderful start and the impact on my life will be lasting for sure. I’m excited to share what I’ve learned. Stay tuned!

If my last post on meaningful conversations resonated with you then you need to read the book by Susan Scott called Fierce Conversations.  I had the pleasure of hearing her speak at Center for Leadership Formation put on by Seattle University’s Business School.  Not only was she a gifted speaker and communicator, but her ideas are creating significant influence on the culture at Highland, and how I am thinking about my life.

If you aren’t sure what “fierce” conversations means, her quote at the beginning of the book summarizes it well:

“When you think of a fierce conversation, think passion, integrity, authenticity, collaboration.  Think cultural transformation.  Think of Leadership.”

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Catching a cab ride back to the New Orleans airport recently, I was reminded of several important life lessons, and the teacher was my 82 year old cab driver, Eddie. 

It was clear that Eddie was nearing the twilight of his career as a cabby and his plan was to turn in his meter at age 85.  (In retrospect, I had to laugh at this statement considering how much time I spend helping people race to retire before sixty.)  Regardless, when someone is close to retiring, I always like to ask them what they plan on doing with their new found time, and what life has taught them. 

Eddie told me he felt blessed by the life he’d lived in Louisiana (69 years of hot and muggy); he planned on continuing to give back to the community by cutting the hair of men at the local nursing home (I guess he was a barber in his spare time too); he made a conscious effort to simplify his life several years earlier by selling his rental properties and cab company because they created too much worry and stress;  and he didn’t fret about what others had that he didn’t because as his grandmother told him many years ago, “all that glitters ain’t always gold.” 

Have you ever had a conversation with someone like Eddie where the experience is sort of surreal?  I was caught off guard by his authenticiy and simplicity of his life.  As I flew home to Seattle, these were a few of the takeaways: 

1.)    How often I have made my life more complex than it needs to be; all for the sake of getting more and achieving more.  In many cases, it has given me stress and worry in spades. 

2.)    How often I’ve taken for granted the blessings in my life, especially living and working in the Pacific Northwest.  I have made an intention to appreciate the beauty of this area more regularly and not complain so much about the weather.

3.)    How many times I let my desire to give back philanthropically be controlled by my perceived level of financial success instead of as a reflection of my heart and its capacity for love and compassion. 

I don’t think I’ll see Eddie again before he retires, but there is no doubt I left his cab more positive and self aware than when I got in. 

Here’s to making 2012 a year to remember.  Purpose, simplicity, authenticity…..Living fully!

Happy New Year!

How often do you let your daily life and your meetings and your conversations go on auto pilot; just letting them happen, not “really” expecting anything from them, and also not fully showing up, holding something back, and limiting your full participation, not really saying what you wish you could?  As I have become aware of this pattern in myself, it has been more often than I wanted to admit.  However, I also noticed that certain days were more fulfilling than others, and upon introspection determined it was because of meaningful conversations I had on those days.

As I have written about frequently over the past year, I have been spending a great deal of time exploring my personal values with the goal of living a more integrated and fulfilling life.  What I’ve experienced so far has shown that alignment between my values and purpose, and my willingness to create an environment where meaningful conversations can happen, ignites energy and passion in a way that is life changing.  Wow, that sounds big I know, but in fact it is that big.

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Guest post written by Heather Tuininga, Advisor

It’s that time of year when our mailboxes are full of letters from charities who are doing good work in our community and around the world.  They appeal to our hearts, our conscience and our wallets, with hopes that we care about their cause and still have room for another charitable contribution before the end of the year (to improve our tax situation).

As you read through the deluge of appeals, do any of the following questions come up for you?

1. Do we want to give?
2. How do we decide which organizations to fund?
3. How do we know if they are using our funds wisely?
4. Are there other organizations/people that need our funds more, but can’t afford to send us a fancy end-of-year appeal letter?  If so, how do we find them?
5. Am I giving out of guilt or joy?

As I sift through the letters, I find myself thankful that my husband and I put together a “generosity road map” back in January.  This annual plan enables us to direct our giving funds to the causes and people we care about all year, therefore alleviating any guilt or panic in December when the appeals start arriving and our financial picture/tax situation comes into clearer view.  (If John invites me back, I’ll share more on how to develop a generosity road map in a future blog post.)

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