December - a Month to Love!
I’m not alone in loving December. This month encapsulates so much—joy, love, reflection, and togetherness—all wrapped into one.
Across the globe, cities are adorned with festive decorations, welcoming both residents and visitors to experience the spiritual warmth of peace, joy, and love. Many of us have favorite cities we’ve visited or dream of visiting during this special time of year.
This December, as part of a family tradition I began with my nieces 15 years ago, I had the joy of taking my youngest nephew on his first trip to the Big Apple!
Visiting NYC during the holidays is truly magical. The city radiates good cheer, and we encountered so many locals who were wonderful ambassadors for their city. Thank you, New York, for making this experience unforgettable for my sweet nephew.
Adding to the magic, my nephew invited his sister to join us. Both of them are as remarkable as people come—not just because they’re my family, but because their bond and mutual kindness are truly extraordinary.
Back to why December is such a special time of year: the decorations, holiday shows, family gatherings, and church celebrations are all reasons to cherish this season.
One unforgettable moment was captured in a photo I took on our way back to the hotel. Moments later, a man standing nearby dropped to one knee and proposed to his partner. This was the second proposal we witnessed within 24 hours, the first being at the Statue of Liberty.
What struck me even more than the proposals themselves was the way strangers cheered them on, and how families walking by exchanged smiles and whispers of love. In these small moments, you could see the formation of new families and the quiet joy of people reflecting on their own loved ones.
The intersection of Fun and Business
If you’ve ever visited NYC during the holidays, catching the Saks Christmas Light Show and Window Display is a must-see. However, this year, Saks scaled back after two decades of holiday displays.
This year, we learned from news reports that Saks would be stepping back from their 20 years of the holiday lights and display.
Marc Metrick, Saks Global CEO, shared on CNBC the company made the decision to cancel the light show this past summer after “softer” sales over the past year.
Using his CEO capital allocation hat, Metrick shared: “we have to be very prudent and careful in where we're investing, but more important, we always knew we were going to want to take a step back and assess.” My response: Hmmmm, there are bigger issues afoot for the organization if their steps include such as public display of their financial condition.
We still went to see what Saks had prepared —the lights were subtle and the window displays showed off clothing that was less than approachable.
It was hard not to share my thoughts of this decision with our future investors. In fact, I did share some and held back others.
While I don’t know what it cost to pull together the annual display, the negative press and PR signalled more about Hudson Bay Company (HBC’s) investment in Saks and the state of the business. It also speaks to the notion of when making financial commitments that have a big community impact, they are like pension and annuities. The decision is a commitment for decades and the costs associated with them continue to increase with inflationary pressures each and every year. So let’s say that decision back in 2004 costs $1M for that year’s light display. By year end 2008, after five years of putting on the display and as budgets were being finalized, someone was actually making a multi-decade commitment. Five years starts to form enough of a pattern that customers, potential customers, and fans who view the store come to expect to see it each year. So by December 2008 when their budget was being finalized, they really ended up making an almost $28.92M decision to keep the lights on so to speak from the year 2009 to 2023. This one decision to turn on the lights and make the display would have been a $34.72M* decision back in 2004.
(*A mathematical example of the possible costs. No real cost estimates were published/provided. $1M/annual expense with a 5% annual inflation rate from 2004 to 2023 would result in a cumulative cost of $34.72M.)
Three Business Lessons from This Story
Financial Commitments Have Long-Term Implications.
Decisions carry multi-year expectations, especially financial ones with significant community impact. A $1M decision in 2004 likely ended up being an almost $35M commitment. Would they have made the same choice knowing this? Only they can say.Public Relations Matter.
The messaging sent by scaling back such a beloved tradition signaled trouble for the business. While cutting costs may have been necessary, the associated brand and PR damage could have longer-lasting consequences.Creativity Can Offset Costs.
As an investor, this decision suggested Saks couldn’t find a way to leverage the brand equity built by the light show into a creative, revenue-generating opportunity that fosters greater customer loyalty. Could they have turned the attention into real value? Did they try, or did they simply see it as an expense with no associated revenue opportunity?
This Lesson Extends to Personal Finances
Every financial decision, big or small, ripples across years:
Buying real estate in a great location will likely appreciate significantly, especially if held for decades.
Investing in an ETF and holding it for 40 years will almost certainly yield more value than today. Holding for two or more decades makes this a near certainty.
A $1,000/year subscription requires $25,000–$30,303 in assets (retirement or financial freedom assets) to sustain. Is it worth it? Maybe, maybe not—but you can’t answer the question unless you think in terms of the assets required to support that expense.
December – Reflect, Celebrate, and Plan
Another reason I love this time of year is the opportunity to reflect on accomplishments, learn from losses, and nurture our spirits as we listen to the dreams we’re meant to live.
Next week, you’ll find me in my office, wrapped in a warm blanket, with my four Full Focus Planners from the year spread out in front of me. I’ll take time to celebrate my successes, console myself for tough moments, and show tenderness toward the areas where I could have done better. During this time, I’ll also pray—for more peace, better health, and the ability to surrender what I cannot control.
I’ll be praying for you, too. Whether this year was a home run, brought challenges, or saw struggles for someone you care about, I feel your joy and your heaviness.
My prayer for all of us as we close this year is that 2025 brings more of what we want and need in life, fewer struggles, and quicker recoveries from challenges. Progress, even if unexpected or small, is always worth celebrating.
Feel free to share your 2024 wins, lessons learned, and your 2025 goals by Wednesday December 18th.
We can keep your name anonymous but share your stories in next week’s newsletter. Reading about others’ accomplishments, big lessons, or big ideas to share are inspiring, and it’s even better if we can cheer each other on.
“BRAVO, my friend! Look how far you’ve come!”
They may not hear it directly, but I do believe the world hears it and sends you little reminders that someone is thinking of you with admiration, support and encouragement.
Until next time, keep building financial flexibility and freedom to Embrace Any Future!
Sincerely,
Rachel