ZENVESTING: The Practice of Saving

We know from surveys that S&H readers are altruistic people; you want to give, to make the world a better place. We also know that many of you are in service professions — clergy, health-care workers, yoga teachers, massage therapists, and the like. As many of you already know, it is a fact of life that we cannot help anybody else if we have not first helped ourselves. This is why nursing mothers are advised to feed themselves first, and why flight attendants tell us to secure our own life jackets before those of our children in the event of trouble.

What does all this have to do with money? It’s about creating a reserve. As I write, I’m vacationing in Maui — a very beautiful, laid-back place, where driving with other tourists and hippies weaving all over the road can be an “I-breathe-in; I-calm-my-body; I-breathe-out; I-smile” experience. A single woman who lives here said, “You know why single men on Maui don’t use their blinkers?” “No,” I replied. “Too big a commitment,” she answered.
Why don’t people save? “Too big a commitment” is a common answer. But a life without commitments can actually be more constricting than the delusion that free-spirit driving with no regard for the guy behind you is a great way to travel. Responsible commitments can help you and everybody around you live longer, not to mention more comfortably. (Without committing to save, I would not have the financial reserves to take two weeks off to hang out with my family in Maui!)
Another excuse for not saving is “I’m already strapped and have no money left to save.” And the last big excuse is “I don’t know where to cut my expenses.” All these reasons would disappear if motivation and desire manifested in an intention-driven action — simply to save.
Tens of thousands of people go bankrupt, many more lose their homes, and even more find themselves unable to retire. Why? Maybe they lost their job, became disabled, or suffered divorce — all legitimate reasons. But often the real reason is that they never made a commitment to save and thus were not prepared. Simply put, money helps in times of trauma. How do you have money? Save!

HOW AND HOW MUCH TO SAVE
It’s best to save 10 percent long term and 10 percent short term: Long term is for retirement, sickness, or a big, fat, financial trauma. Short term might be for a down payment on a home, or for a car, or a retreat. The long-term savings should be deposits to a 401(k), IRA, or other tax-favored qualified retirement plan and invested long term in a no-load, economically responsible, globally managed mutual fund. Your short-term savings should be readily available and invested for preservation of capital and some income, depending upon when you think you’ll need it.

MAKE IT A SPIRITUAL PRACTICE
This moment that we are living — right now — has all the moments of our lives embedded in it. The future exists in this moment, and realizing this can cause a light to go on in our consciousness that allows us to commit to saving. This moment contains sickness, health, death, retirement, kids, grandchildren, friends needing our help, hospice, health care, and every dollar we will receive, need, spend, and save, along with every breath we will ever take. Our future security comes from right actions, actions that have their foundation in the self-evident spiritual truth that through sowing today, we can have security in the future. Like yoga, meditation, eating healthfully, and gratitude, saving is a choice. Done with the right intention, it can even be a spiritual practice. If you choose to be self-reliant, responsible, and generous, you will feel at ease in the world. If you are at ease in the world, you will be available to those who are not. Whether or not you think it is fair, money is important in our culture; it can be the difference between life and death.

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Paul H. Sutherland is president of Financial & Investment Management Group and manager of the Utopia Funds. Get tips on saving from his book Zenvesting at SpiritualityHealth.com/zenvesting. E-mail questions to paul@spiritualityhealth.com.