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

Choosing the Right Finance App for You

Published by Andrew Rogers As technology and mobile applications continue to work their way into everyday life, there are numerous budgeting, investing and financial mobile apps whose increasing popularity has sparked an online debate over which app is best to meet your personal needs.

College Planning and Student Loan Debt

Parents want to be able to provide funds for their children in the event they attend college. The most common types of accounts are state 529 plans and Coverdell accounts. Other students will need to use student loans or a combination of savings plans and debt to fund their education.

Focused Planning

Financial planning is an important piece of the Wealth Management process. In fact, we encourage all of our clients to go through the process to help their advisor make individual recommendations based on their unique situations. We do not adhere to the “one-size-fits-all” investment alloca …

Understanding 529 Plans

Named after Section 529 of the Internal Revenue Code, 529 plans are investment accounts used to pay for a beneficiary’s college expenses and are usually opened many years before the beneficiary reaches college age. Check out this infographic for some interesting statistics about 529 Plans. …

1 2 3 96 97 98 99 100 103 104 105

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

TweetsFollow Us