One of the guys I regularly play golf with offered up some words of advice on the course the other day. I was faced with a delicate shot from about 20 yards off the green. When faced with that type of shot I typically slow my swing way down on the downswing, not carry the club all the way through and chunk the ball about 15 feet and well short of my intended spot. So, my buddy said this:
“Commit to it and swing through it.”
Catchy, huh? However, it is so true. In golf, every shot is a decision or a series of decisions before striking the ball. If you find yourself standing over the ball questioning your decision(s), bad things will happen when you actually swing the club. So, you must be committed to your decisions and the shot you are going to hit. Then once you start the swing you have to complete the swing. Any change in your swing while it is in progress will alter the flight of the ball in a negative way. Commitment and follow through.
Finances require the same process. A good example is getting control of your spending and eliminating debt. To be successful at this you must commit to a series of decisions. The decision to set up a budget and stick to it. The decision to cut up the credit cards. All good decisions, but if you don’t swing through it, and get new credit cards or splurge on items that throw you over your budget, then you won’t get the results you want.
Commit to it and swing through it is also a great mantra when it comes to investing. Successful investing requires decisions be made prior to investing. How much risk should I take on? What’s my time frame for the money? What investment vehicles will I use? (stocks, bonds, mutual funds, options, etc). After you have made the decision, if you don’t swing through it, by maybe investing in more risky investments than you are comfortable with, then you won’t get the results you want.
A financial advisor should be like your caddy, helping you navigate your financial golf course. Their job is to know the course, where the hazards are and where you do and don’t want to be. They need to know you; what makes you frustrated and anxious, what causes you to lose focus on the course, how you handle risk, your willingness to hit the ball over the water vs taking the safer way around it. Their job is to encourage you to swing through it, to not give up when you’re having a bad day; to stay the course and play the course. Their job is to help you make decisions on what equipment (financial products) to use and when a change might be in order.
So, let’s hear it one more time… “Commit to it and swing through it!”
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These are the opinions of Legacy Wealth Management, LLC and not necessarily those of Cambridge, are for informational purposes only, and should not be construed or acted upon as individualized investment advice. Mike Berry is a Registered Representative offering securities through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Legacy Wealth Management, LLC and Cambridge are not affiliated. Cambridge does not offer tax advice. Copyright ©2024 Mike Berry. All Rights reserved. Commercial copying, duplication or reproduction is prohibited.
