Hoops vs. Investing – Learning From The NCAA Tournament
But There Are Similarities
- In both cases, picking the “winners” is hard
- In both cases, an informed approach improves your odds
- In both cases, good luck and good strategy are not the same
First things first. “Playing” in a tournament challenge is WAY different than “playing” in the stock market. The tournament challenge is recreation and fun. Risk is minimal. Investing is the “real deal”. It involves your hard-earned dollars and focusing on figuring out how to grow these dollars to achieve your goals. “Playing” in a pool on the tournament is good fun. “Playing” with your investments is foolish.
A tournament pool is a recreational activity. Your investments are a critical life decision. Big difference.
What’s The Lesson?
In my mind the lesson there are three lessons here:
- First, it’s easy to be “sucked in” and look at very important things as a “game”. The similarities can cloud your judgement. Dangerous and big mistake!
- Second, awareness is NOT enough. I suspect that most reading this will be nodding their head in agreement. But I further suspect that more than a few reading this are still “playing” with the stock market. Not good!
- Third, taking the right steps is NOT easy. From working with hundreds of families I know that they understand this and want to do what is right. But it’s tough. That’s why they reach out to me and my team to get the help and support they need.
You can read more about this topic at this link: Hoop Dreaming
Would You Like More Support?
- Do you have a well-defined Investment Policy Strategy that is used to drive your investments in support of a comprehensive financial plan?
- If not, would you like to partner with someone who is used to helping people get through these struggles and (then, with confidence) implement portfolio strategies in a systematic manner while focusing on your desired outcomes?
If so, feel free to send us an email or give us a call. We’d love to have the opportunity to help you find a bit more peace of mind when it comes to investing.
F5 Financial is a fee-only wealth management firm with a holistic approach to financial planning, personal goals, and behavioral change. Through our F5 Process, we provide insight and tailored strategies that inspire and equip our clients to enjoy a life of significance and financial freedom.
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