The Map Is Not The Territory
I can’t remember the first time I heard the phrase above, but I do remember how much it stuck with me. A quick Google search shows that the quote is “The map is not the territory, and the word is not the thing.” It’s attributed to Alfred Korzybski.
Over the last week, I spent several days up in and around the mountains of Park City, Utah. This part of the country is becoming one of my favorite places to visit. The weather is amazing (I always go when it is warm)... and the scenery can be breathtaking at times.
My time in the mountains this year got me thinking about the difference between a map–and the actual territory. My family and I did several hikes during our time there, and we would often look at various trails to determine the location, distance, and difficulty. Note: Moderate difficulty has wildly different interpretations depending on who is doing the hike!
Here’s what I learned… in several trails, the distance was inaccurate, the elevation gain up the mountain was understated (never overstated), and there were always various routes one could take on the same trail.
Some trails had tons of people, while other trails were all but empty. Despite there being signs on certain trails for there to be “No Dogs” – guess what? People still brought their dogs. Some dogs were not even leashed.
What’s the point here?
Each trail or hike experience was uniquely different. There is no uniform experience. That’s what different stages of life can be like, especially when it comes to money.
This is why financial planning can be so valuable. Yes— we can all Google the answers — or now ask Chat GPT. But the answers will NOT be the lived experience.
Most financial plans become outdated shortly after they’ve been completed.
Why?
Because LIFE happens.
We’ve experienced this many times over the course of our time as financial planners. And, guess what? It’s normal.
There are tons of folks who will map out the next 30 years on a spreadsheet, or nowadays, they may ask their favorite AI to create a blueprint for them to reach their desired financial goals. Most likely– these will contain errors from the beginning.
More importantly, however, they will likely be rigid. There won’t be a line item in there for a forced early retirement or a bad health diagnosis. There won’t be a line item that shows extra gifts and expenses for those unborn grandchildren that show up. There’s often critical details that are missing when it comes to taxes and inflation. And investment returns? Those are often guesses— yes, it’s true.
So, yes— maps (and plans) are very useful. We need them. But – they aren’t the territory.
We have to walk that together one step and one day at a time. Thank you for allowing us to be on this journey with you. Let’s keep moving forward together.
