FINANCIALLY
Speaking
Golfing with a Caddy
by
Jeffrey M. Orth, ChFC, CASL Investment Advisor Representative of HTK
Jeffrey M. Orth is a Chartered Financial Consultant, a Certified Advisor in Senior Living, and an Investment Advisor Representative, with over 10 years experience as a business and personal planning, insurance, and wealth management specialist Jeff is available for group lectures and private consultations. Visit his website at www. ifitfinancial. com or call 408.842.2716.
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If you play golf, you understand that you will never have a perfect score. The game can be incredibly enjoyable, but there will always be a number of shots that you will not hit as well as you would have liked. The course seems to win more often than we do, but we still keep playing, dreaming about shooting our best round of golf ever. Perfection may not be possible in golf, even with the pros, but they know that having a caddy by their side can help them make necessary adjustments to get back on track.
Winning financially can often feel much like a round of golf. There are those periods where you feel you can do no wrong. You are on your game and everything seems to be perfect. Then, the next round looks like you have never played the game. Having a‘ financial caddy’ can help you successfully navigate the investment‘ course’.
A good caddy can watch you play a couple of holes and become a valuable aid in club selection and strategy to score your best on a given hole. They can take some of the guesswork out of deciding what to do and can reduce your exposure to the overall risk. You will tend to swing the club better when you are confident about your club selection. As a financial advisor and wealth manager, I function very much like a caddy. I sort through a large arena of financial instruments and discuss those products that might help eliminate, or at least minimize, losses while providing you with a satisfying outcome. It is my job to help my clients select the most appropriate‘ clubs’ available in the financial industry that may best produce the results they desire.
One thing that makes the game of golf more enjoyable is consistency. I realize that I may never be able to hit a 300-yard drive over water and draw it around a corner into the middle of a 20-yard fairway lined with bunkers, but if I can consistently keep the ball in play with a modest amount of distance gained, I am happy. Most people feel the same way about their investments. They are not trying to compete with the pros- they are just trying to keep moving steadily forward and attempt to avoid unnecessary penalties. Even if you feel you are a good golfer, having someone you trust walking alongside you, who is familiar with the course and its hazards, and the tools that work best for you, will generally help you play better than you could by yourself.
Like many amateur golfers, consumers often believe that the financial product they have in their hand is the best one to get them where they want to go. Maybe they have seen their friends have success with it and think it will also work for them. In reality that particular product might have little chance of being successful for them, given their current situation. It’ s important to have the right club FOR YOU in your hand before you start to swing! In golf, as in life, the instruments you select have a lot to do with where you are on the course.
When looking at all the clubs available to a golfer, I believe the putter is the most valuable club in the bag. It will never come up in a conversation about distance, yet it can help you improve your score better than any other club in your bag and is in fact the only club that is typically used on every hole. Many investors focus on their“ driver”- investments that have the potential for the biggest returns— but that same“ club” could also take them“ out of bounds.” Consistency and accuracy with your putter can have a big impact on the successful outcome of your overall game.
Like a caddy, I don’ t hit the shot for my clients but I take the time to understand their capabilities or“ swing” and can offer them sound direction in their“ club” selections, to improve their potential chance of success.
The author’ s opinions, comments information, etc. are those solely of the speaker and are independent of, and do not represent, HTK, and should not be considered as specific investment or planning advice. Please consider your options based on your individual circumstances. Gilroy Today and other listed entities are independent of and un-affiliated with, HTK and Integrated Financial Benefits Network( IFit).
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