The Trendy versus Timeless Debate

Article by: Payton VeStrand, CFP®

In the ever-changing world of fashion, the debate between trendy and timeless style rages on. While some view the concept of timelessness as paradoxical in an industry driven by constant innovation, others embrace it as a guiding principle.

Many liken chasing trends to running on a treadmill, with the next cool outfit always just out of reach. What is in style today will inevitably be outdated in a few seasons, leaving consumers in a perpetual cycle of updating their wardrobes.

However, there are a growing number of consumers who have decided that they have had enough of trying to stay up to date with the newest style fads. Among these trend-dissenters are the proponents of a capsule wardrobe- a minimalist approach that advocates for investing in a small number of high-quality clothing pieces and accessories that are interchangeable and coordinated rather than buying lower quality, trendy items year in and year out.

Disciples of the capsule wardrobe claim that it simplifies getting dressed, saves time and money, and is more environmentally conscious. Even celebrities such as Steve Jobs and Mark Zuckerberg have embraced this philosophy, maintaining that it frees up time and creative energy to focus on their work. Clearly these folks skew towards the "timeless" side of the debate.

On the flip side, trendsetters relish and embrace the creativity and self-expression found in researching and keeping up with whatever is in vogue. This approach often resonates particularly with younger generations.

While I will refrain from serving as the arbiter in this specific argument, it is interesting to see the same basic question of trendy versus timeless extend to more consequential areas of our lives. For instance, should we follow the latest fad diet or established nutritional advice? Is it better to pursue a role in a trendy new corner of the job market or accept a traditional profession in a well-established industry?

Perhaps nowhere is the trendy versus timeless debate more critical than in our financial decision-making. Historical events like the California gold rush and the Dutch tulip bulb craze, and modern examples like the dot com bubble and the NFT craze demonstrate humanity's susceptibility to trendy, get-rich-quick schemes.

When faced with the latest "can't miss" opportunity, it is wise to take a step back and assess whether the advice aligns with timeless financial wisdom. Some might find it helpful to create a "capsule wardrobe" of sound financial principles to serve as a prism through which to view financial decisions.

While debating inseam length or color palettes may seem trivial, the stakes are considerably higher when applying the trendy versus timeless framework to weighty questions such as when to retire or how to invest. In these areas, embracing timeless financial principles can provide a solid foundation for making informed decisions that can set you on a path to financial stability.

Originally published in West Knoxville Lifestyle.

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