Sushi Money

My favorite sushi is nigiri-style maguro.  A nice fresh cut of tuna on rice with wasabi… it is delicious.  I remember stories of the Japanese fish markets with enormous Bluefin Tuna lined up in rows for early morning bidding.  Some of these fish would fetch prices in excess of $30,000 to $40,000.  Amazing, but not surprising given the equally enormous appetite for this particular fish. 

Recently, we see in the headlines that the Bluefin Tuna is at risk of extinction if the present fishing pressures continue expanding.  In an article titled Nations Join Forces to Save the Tuna, the UK Times Online is reporting that Japan and the European Union have agreed to dramatically reduce their annual catch by almost a quarter percent in an effort to halt species decline and ensure a positive future for the fish (and markets! – Picture of Tsukiji Fish Market, Japan, courtesy of JoshSpear.com).

But this brings to mind some personal financial considerations.  We accept many types of risk… with our investments for example.  Often we make investment decisions based on factors that justify, for us, the merit of that decision.  Maybe we leave it up to someone else.  Be it fundamental, technical, practical, emotional or some combination of those factors that justifies the investment decision, we are accepting a level of risk that becomes part of an overall risk profile for our portfolio.  And yet it is more than that.  When was the last time you looked at your entire spectrum of risk?  Not simply your investment risk, but to your total retirement portfolio?  Do you know how your 401(k) is allocated?  The choices you have for how your funds are invested? Asset allocation? What about your insurance needs?  Do you have the right coverage for your current family situation?  Are you accepting undue risk for your family and future because you have procrastinated or simply have not got around to it?  Many of us are amazed to examine our auto and property coverage after having older policies for many years, and finding that coverage levels do not fit current needs.  Do you need and have an umbrella liability policy?  And at the later end of the lifecycle spectrum, what about estate planning and taxation?  We could go on of course, but the point is simply that sometimes we are so involved in our lives and jobs that we may forget the larger risks inherent to our personal or family financial situation.  I’m thinking about the larger context of our lives in which we function from day-to-day and year-to-year.  And if nations can agree to manage the risk of species decline of Bluefin Tuna in terms of catch and consumption, we can certainly agree to the need for managing the financial and retirement risks we face.  The oceans are vast places, seemingly endless.  So too the financial choices we face are seemingly endless.  But our choices can be managed and approched systematically, positively and with the knowledge that we are taking care of our future!  Is it time to find professional assistance?  To find a Certified Financial Planner in your area that meets your needs, see the Financial Planning Association’s search tool. 

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