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Volatility and Coaching

If you’ve been following college football lately, you’ll notice lots of changes in the coaching ranks. This season especially, many fan bases lost patience with a coach and wanted to move on. Millions are spent just for the right to get out of an existing coach’s contract, only to spend millions more for the privilege of trying to hire the new up and comer in what is always an uncertain change. One change can lead to several more with programs across the country as coaching dominos begin to fall. Lots of ups and downs for coaches, players, and fans, with the only real winners being the agents. When we look at it from an investment standpoint, we can’t help but compare it to the volatility we see in the market at times and draw a few parallels to things we see in helping our clients with their retirement.

Many times, people lose patience with their investment plan and want to make a change almost instantly without giving their plan time to work. It is crucial to remember that when you work with your financial advisor to build your retirement and investment plan that it was built with the end in mind and sometimes there will not be instant success. Just like football teams experience unforeseen injuries that can drastically change a season, a retirement plan will also experience bumps and volatility. The key for clients is patience.

Consider what could be missed out on if the plan isn’t allowed to work. The great Mike Krzyzewski had a losing record in 2 of the first 3 years at Duke. Nick Saban didn’t win more than 7 games in any of his first 4 years at Michigan State and had a record of 15 – 17 when he coached the Miami Dolphins. Bill Belichick, the head coach of the 5-time Super Bowl winning New England Patriots, had a losing record in 4 of this first 5 years as a NFL head coach. Can you imagine if Duke had lost patience and fired Coach K? What if the Patriots had not gone with Coach Belichick after his less than stellar start as a NFL head coach? Sometimes something great takes time to work, and the same can be said for a retirement plan.

Of course, you can only be patient with a retirement plan if you have one! By working with a financial advisor to build a healthy retirement plan and then have regular checks to make sure the plan is working based on factual data, and not the volatility of a news cycle, you can work toward your retirement championship! Give one of our advisors a call today and allow us to help you navigate your retirement.

Investment Advisory Services offered through Sound Financial Strategies Group, Inc. (“SFSG”), a Registered Investment Adviser. Certain representatives of SFSG are also Registered Representatives offering securities through APW Capital, Inc., Member FINRA/SIPC, 100 Enterprise Drive, Suite 504, Rockaway, NJ 07866 (800)637-3211. SFSG and APW Capital are separate and unrelated companies. 

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