Bellevue Fee-Only Financial Planner Steve Juetten Shares Personal Finance Lessons from Downton Abbey to Inspire Smart Money Decisions in 2013
BELLEVUE, Wash., Jan. 23, 2013 /PRNewswire/ -- Bellevue Fee-Only financial planner Steve Juetten says inspiration for smart personal money management can be found everywhere, even in popular television programming like the blockbuster series Downton Abbey. "I was watching the season three premiere episode and it struck me that there are all sorts of personal finance lessons we can learn from this rich mix of characters."
- Don't put all your eggs in one basket. Juetten notes that Lord Grantham invested almost all of his wife's fortune in the stock of a Canadian Railroad company and then lost it all when the company went bankrupt. Lord Grantham was in shock because everyone knew the company was going to be a success. Just because everyone knows something is a good idea doesn't mean you can't stop thinking for yourself.
- Prepare for the unexpected. Mrs. Hughes has an ailment this season and we don't know how it will resolve. Mrs. Patmore had eye surgery last season. Neither have medical coverage. "The health challenge of these two ladies reminds us to be prepared for the unexpected," Juetten observes.
- If it's too good to be true, it probably is. And illegal gains are fleeting. In season two, Thomas the footman/valet decided to deal in black market goods after the end of World War I to make a quick profit. He was double crossed by his supplier and lost everything.
- The best way to save for retirement is to start early, be consistent and stay the course. Anna, the ever-loyal wife of the convicted murderer Mr. Bates has decided the best way to free her husband is to slowly, patiently and consistently follow-up every lead she can find to prove his innocence. "Saving for retirement is like that," Juetten says. "You don't prepare for retirement at one time. Do what Anna is doing on behalf of her husband and you're more likely to retire comfortably."
- Your financial assets are like a garden. You have to regularly tend to them in order for you to reap the bounty. In the current season, Matthew Crawley has discovered that the assets of Downton Abby have been mismanaged for years because Lord Grantham has been too busy to be bothered. Juetten says, "Neglect eventually leads to misfortune."
- Luck is not a plan. Finally, we have the example of the life of Matthew Crawley. Notes Juetten, "A client of mine says he wants to be like Matthew Crawley. He seems to be the luckiest guy on the planet. First, he becomes heir to Downton Abbey when a distant cousin dies with the sinking of the Titanic. Crawley is paralyzed from the waist down during the war and then walks again. Then, he inherits a fortune from his fiancee's family that will save Downton Abbey after Lord Grantham's investment folly. He also gets to marry the beautiful eldest daughter of Lord and Lady Grantham. Juetten says, "The problem is that luck is not a plan. It's much more likely that your personal finances will get you to your goals if you focus on the things you control and NOT wait for distant relatives to leave you a fortune."
Juetten observes, "My wife Nancy and I love to watch Downton Abbey. It is more than just great PBS entertainment. It has personal financial lessons we can all learn from. What can be better than that?"
About Bellevue Fee Only Financial Planner Steve Juetten
Steve Juetten is a fee-only Certified Financial Planner Professional in Bellevue, Washington who works with busy career professionals to help them take care of their money so they can do more of what they love. Unlike many financial advisors, a fee-only planner does not sell any products or take commissions. Clients can be assured that Juetten is working only for them because he is a fee-only planner and a fiduciary, meaning he is legally required to work in their best interests. And clients must like what he does for them because Steve has been named a 5-Star Wealth Manager by Seattle Magazine for the last three years. Steve has compiled practical personal finance ideas and tips in a free new eBook Smart Money Rules Little Green Book. Obtain a copy of this helpful gift by visiting this link. Get in touch for media interviews by calling 425-373-9393, PST.
SOURCE Steve Juetten