Carly Simon had songs that endure forever. “Anticipation” was her 1971 song ending with the words “And stay right here, ‘case these are the good old days.” (1) As a financial professional, you might have clients who are waiting until they retire to enjoy life. Others might recall a simpler time years ago. They might be living for the future or longing for the past. Encourage them to enjoy the present because “These are the good old days” or they will be when they look back in the future.
Why should you client “enjoy the moment?”
1. “The good old days” doesn’t need to be one time period. If your client thinks back, there were many highlights to their life. Regardless of their age, there is the time when they bought their first car. At the time they got their first apartment or home and moved away from their parents. There was the time they got their first job, the time they had few responsibilities. Don’t forget the time they fell in love for the first time.
Message: Many of these examples get us thinking back to a time when life was less complicated and delivered high points. Multiple times followed. They don’t need to stop now.
2. The economy and your client’s financial position has improved since then. Regardless the age of your client, let us use the Great Recession of 2007 - 2009 as a marker. The DJIA was down to 6,469 on March 9th, 2009. (2) It was down by over 50% from it’s October 9th, 2007 high of 14,164. As of May 9th, 2025 the DJIA was 41,249.]
Message: The stock market is about 3x it’s 2007 high and over 6x it’s 2009 low. If your client is invested in the stock market, doesn’t this qualify as “the good old days?”
3. How much does your client have in their 401(k) at work? How old is your client? Fidelity published an article (3) showing the average 401(k) balances by age group. If your client is 65-69, they average $251,400. If they are 45-49, they average $152,100.
Message: This is only one segment of your client’s total wealth. (And that is not held at your firm!) How much are they worth in total? Did they ever think they would be worth this much?
4. Is your client a millionaire? About 18% of US households have $1 MM or more in assets. That is about 23.7 million households. (4) Your client has assets with your firm. Do they own their own home? Are their parents millionaires?
Message: Did you ever think “millionaire” would describe you? Does this qualify for living in “the good old days” if you look back in the future?
5. Is your client healthy? Let us assume that is the case. If they have health problems, are they seeing doctors regularly and keeping the situation under control? Is your client in good enough health to travel?
Message: Your client is in good health and can afford to travel. Why wait? Enjoy life now. These can be the “good old days” they look back on later.
6. Have their children grown and living lives of their own? They have been good parents. They have raised their children and put them through school. They have jobs and can pay their own bills. They might be married with children of their own.
Message: This is the phase of life they have been waiting for. It has arrived. They should embrace and enjoy it.
7. How much is their house worth? Your client might have bought their house decades ago. It was expensive then. Interest rates were high. They have paid off their mortgage. Real estate prices have been rising lately, especially in major metro markets. According to Zillow, the average home price in 2012 was $149,300. About 20 years later, the average price was $420,400. (5) FYI: That is 25% higher than the median sale price was $337,500 in 3Q2020.
Message: Your client likely cannot believe what their home is worth now! Doesn’t that qualify as a “good old days” memory when looking back years from now?
Getting back to Carly Simon and “Anticipation” there are plenty of reasons for clients to adopt the attitude they are living in “the good old days” today.
Related: Making Sense of “Expect the Unexpected”
1. https://genius.com/Carly-simon-anticipation-lyrics
2. https://en.wikipedia.org/wiki/United_States_bear_market_of_2007%E2%80%932009#:~:text=The%20DJIA%20hit%20a%20market,mere%20three%20weeks%20of%20gains.
3. https://www.fidelity.com/learning-center/personal-finance/average-retirement-savings
4. https://www.fool.com/retirement/2024/05/27/heres-how-many-millionaires-there-are-in-america/
5. https://finance.yahoo.com/news/us-home-values-changed-over-165648270.html