Buy the Damn Truck

I got the email confirming that my clients had sold their medical practice, and the proceeds from the sale had been officially deposited into their account. Dr. Marion had cared for his patients for thirty-five years. His wife had been his office manager. This was the event they had been working toward for years.

In preparation for this moment and as their financial advisor, I had updated their plan and reviewed their retirement income needs. Dr. Marion knew exactly how the money from the sale of the company was going to be invested. Despite this clarity, they both wanted to hop on a Zoom call. 

Turns out, they were really nervous about retiring. 

Dr. Marion had been an aggressive investor since the day I met him, but suddenly he was becoming concerned about volatility. They both had dreamed of the day when they could be 100 percent retired, but now they wondered what the heck they were going to do on Monday when the practice was no longer theirs to run. 

We set up a call to talk through all of it. 

In that conversation, I walked them through the entire plan again. Dr. Marion nodded in agreement as I reminded him about each recommendation I had made. His wife kept looking at him, wondering if my reassurance was making her husband feel any more secure. 

After an hour, we had discussed just about everything related to their money—the stock market, their investment allocation, and their income needs—which would all be met with the wealth they had accumulated. 

Yet Dr. Marion was reluctant. 

He asked, “Is there anything else I’m supposed to be doing?” 

I answered, “Yes. Before the year is over, I want you to take time to celebrate. Retiring is a big deal. You have worked hard for almost four decades to build a valuable practice. You successfully sold your business for exactly the amount you hoped to be paid. What you have accomplished is extraordinary. I think you need to do something special for yourself.” 

Dr. Marion smiled and turned to his wife. “I hadn’t really thought about celebrating. I was just trying to get through the sale and be sure it was official. Maybe this is the perfect time to finally open that bottle of Caymus we’ve been saving.” 

“That’s a start . . .” I replied. “How about thinking a little bigger than a bottle of wine?”

Mrs. Marion and I were on the same page. She smiled and reached for her husband’s hand. “Why don’t we go look at new trucks this weekend? Yours has 200,000 miles on it. I think it’s time.”

I agreed with her and encouraged the idea. “Have you seen the new F150s? They are beautiful! The technology is awesome. Why don’t you go online and look them up?”

Dr. Marion already knew exactly what I was referring to. He confessed he had already built several versions of his dream truck online over the past few months.

Immediately he started sharing all the details of the new King Ranch versus the Lariat. He was so excited about the features, colors, and technology available in the new models!

Without hesitation, his wife commented, “John, you deserve it! You’ve waited so long to get to this moment. We can afford it. You love it. Do me a favor and buy the damn truck!” 

Then they turned to each other and kissed. He squeezed her hand, pretended he wasn’t getting choked up, and promised he’d go looking at trucks that weekend. They were both happy and relieved by the time we ended the call.

While it may sound like a funny thing, sometimes we need permission to celebrate. We are trained to save and save and save for the future. Yet when we finally get there, we often have a hard time making the transition from accumulating money to spending it. 

Even though he had sold his business for millions of dollars, and the truck had a sticker price of $80K, it became my job to assure Dr. Marion that it was affordable and acceptable for him to make the purchase. 

When he questioned my encouragement and asked, “But isn’t this money for retirement?” I had to remind him: 

This is retirement.

As a financial advisor, it’s a privilege when I get to congratulate a client on their successful journey and provide continued guidance as they transition to the next phase in life. Often my advice is more about encouraging people to spend and assuring them they can afford the new purchase or the celebratory vacation. 

Next time you’re talking with a friend or a family member, and you know they have something worth celebrating, remind them to take action. Encourage them. You know it, and I know it, but sometimes they may not realize that it’s okay to buy the damn truck!