When I was 40 years old, I "ran" a marathon.

I should say I "finished" a marathon. My young children grabbed my hands at mile 17 and said, "Daddy, we'll run with you," which soon turned into, "Daddy, we don't even need to run!" as their walk soon outpaced my stride.

Back then, I enjoyed going out and finding different places to run. I made sure I started each run with gratitude for being able to do so. But that was then: My arthritic knees now keep me from running. Running is what was, so I have to accept what is.

It's important when clients face decisions that they don't focus on what was and instead concentrate on what is. Recently, clients were talking about wanting to leave the family cabin to their adult children after they pass because they had so many great times together. The memories are something to cherish, but they represent what was. Those memories involved the family as it was. When the parents pass, that family no longer exists.

New memories will fill in, but they will look different from the old ones. "What is" will be trying to figure among the siblings who does what, who pays for what, and who uses it when. What I try to communicate to clients is: If the siblings would not be buying a cabin together, they should not be inheriting one, either.

When you think about where you want to live, concentrate on what is. Cities are constantly changing. School systems keep evolving. Quiet communities of the past can now seem overrun or teeming with modern-day conveniences. What one person terms progress another terms excess. When you are choosing where to plant yourself, take time to understand what currently is.

When you are ready to sell your home, remember, you bought what was but are selling what is. That means what was fresh at the time you bought it likely hasn't stayed that way. No one cares what you paid for or put into the house. They are dealing with their own "what is," so are thinking about what they are paying for it and putting into it. If you haven't kept up with maintenance or style changes, then your pool of buyers shrinks to those with extra money and imagination.

Don't run from loving what was because it helps you appreciate your past. Recognizing what is will help determine your future.

Spend your life wisely.

Ross Levin is the founder of Accredited Investors Wealth Management in Edina. He can be reached at ross@accredited.com.