What My 10 Year Old’s Soccer Team Taught Me about Planning

Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

Published by Paul West | @PaulWestCoach

I’ve been a working financial professional for 19 years. I’ve traveled a good amount of that time all across the U.S.; I’ve never freed up my schedule to commit to be a coach for my kid’s activities. This year was different. I agreed to help coach my 10-year-old son’s soccer team.

While I know I was supposed to teach them about the game, they too taught me about life.

Like financial planning, your game plan always needs adjustments. Here is what I learned:

1   The kid’s soccer knowledge increased dramatically from game one to game 12. This is not dissimilar to our investment knowledge improving over time.

2   The combination of kids on the field made a huge difference. Our best unit was NOT the best players on field at same time. It was the combination of the players who played best TOGETHER. Just like our own personal finances, we need all of different pieces of our financial puzzle to fit and work together.

3   The best kids knew how to play the game. I didn’t need to teach them skill. I did have to help them with strategy and most importantly, realizing that they can’t do it on their own. There’s no “I” in Team.

4   They have short-term memories… While frustrating to a coach, I stepped back and turned this into a positive. The boys equally forgot both the positive and constructive feedback. They also didn’t dwell for long on the constructive coaching. The kids didn’t re-hash old games, old mistakes or when coach told them they needed to make a change. They learned from them and moved on.

This last point really made me think about how I work with people and their financial plans. We as planners provide guidance on the future. However, some people can’t help themselves from constantly thinking about the past. We can’t change the past. We can only change the future. You’ve all heard the line: Past performance is not indicative of future results.

Thanks Revolution (our soccer team name) for giving me reassurance that behavior and attitude leads to success. Learning, refining and sticking to our plan led to a winning team. Looking forward to the Fall Season!

 

Contact a Carson Wealth Advisor Today

Share:
facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.
Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

RECENT POSTS

Charitable Giving Strategies in a High-Income Year

Tom Fridrich, JD, CLUⓇ, ChFCⓇ, Senior Wealth Planner  The end of the year offers an ideal opportunity to look both forward and back — reflecting on recent achievements, while setting goals for the upcoming months. For many of my clients, it’s also a time to review their finances and i …

Understanding Mutual Funds, Index Funds, and ETFs

It’s common knowledge that investing in mutual funds, index funds, or exchange-traded funds (ETFs) can help build a diversified portfolio. These funds hold diverse baskets of securities, including stocks, bonds and other assets from real estate to derivatives. By investing your money in a v …

The Advantages of a Family Trust

Family trusts are an important tool for managing wealth across multiple generations. They can help you avoid the time-consuming and costly process of probate, keep your assets private, minimize taxes, and ensure that your wealth is distributed according to your wishes.

Let’s Talk About Midterm Elections and Your Investments

This week was midterm elections and we’ve had many questions about what it all could mean, which we’ll tackle in today’s blog. We consider it a great honor to vote, and while we may not know the final results of the election for days (or even months), what we do know is the election will …
1 2 3 103 104 105

Get in Touch

In just 15 minutes we can get to know your situation, then connect you with an advisor committed to helping you pursue true wealth.

Schedule a Consultation