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94 VUENJ.COM From Cloud Nine to Chair 9 I have been fortunate to enjoy après ski at some of the great mountains in this country, and each has its own personality. At Aspen Highlands, the aernoon begins at Cloud Nine, where an ordinary ski day turns into a celebration at altitude. At the foot of Aspen Mountain, e Little Nell sets the standard for polish: Ajax Tavern and its Chair 9 bar, glass walls framing the slopes, a Wagyu burger with truffle fries, a chilled seafood tower, and a crowd dressed as well as anyone on these pages. In Vail Village, the red-and-white umbrellas of the Red Lion at the top of Bridge Street mark the best people-watching in the Rockies. Pepi's orange umbrellas catch the last of the aernoon sun, and the fire pits at Remedy in the Four Seasons take over as the temperature drops. Deer Valley is quieter and more refined, and that is the point; lunch on the deck at Royal Street Café, then Troll Hallen Lounge at Stein Eriksen Lodge for a Stein's Burger and garlic Asiago fries. en there's Park City, Big Sky, and the Pickle Barrel at Killington, where Vermont reminds the Rockies that the East knows how to have a good time. Every one of those aernoons had something in common. Nobody at the table was thinking about the run that got them there. ey were warm, they were laughing, and the boots were off. Après ski is the reward. It is the moment that the whole day is built around. at is exactly how I think about wealth. My clients do not come to me because they love spreadsheets. ey come because they want the après, the freedom to enjoy what they have built and to share it with the people they love. My job is to make sure they reach the lodge. The Look Begins Beneath the Surface is issue celebrates winter fashion, from sculpted jackets and fur trim to the holiday glamour that turns a mountain village into a runway. But anyone who has stood in a li line in January knows the real secret of winter style. What keeps you on the mountain is what no one sees. e base layer. e insulation. e shell that turns the wind. A financial plan is dressed the same way. e visible pieces, the portfolio, the business, and the real estate get the attention. Beneath them sit the layers that do the quiet work; disability coverage protecting the income that funds everything else, umbrella liability standing between your net worth and a lawsuit, long-term care planning, life insurance, and an estate plan that reflects the life you live today. Skip a layer and you may look terrific at nine in the morning. By noon, you are cold and heading in early. Know the Trail Map Every mountain grades its terrain for a reason. Green, blue, black, double black. e rating does not tell you whether a run is good or bad. It tells you whether it is right for you, on that day, in those conditions. Investment risk works the same way. A portfolio that suited you at forty-five may be a double black at sixty- five, when the paychecks stop and the withdrawals begin. Conditions also change without asking permission. Inflation, tax law, interest rates, and market cycles are the weather of finance. You cannot control them, but you can choose your line. e best skiers I know check the conditions report before they click into their bindings, and they always know where ski patrol is. In planning, we call those backstops and redundancies: contingency plans that are in place before anyone needs them. The Price of a Lift Ticket Anyone who has bought a ticket at the window of a The Art of Après The best part of a ski day is earned on the mountain. The same is true of wealth. By John L. Smallwood, CFP® "What keeps you on the mountain is what no one sees."

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