“Any fool can know. The point is to understand.” – Albert Einstein
To have a successful retirement requires several things. First, is knowing what your goals are in retirement. Second, is having the right coach. The third is being coachable. Fourth is executing the next steps to get you towards your goals.
Examples of this process often happen when trying something new. So, here is a Finger Financial Five story…
I grew up in the small town of Nichols, SC. I played in the woods, built tree houses, and rode 4-wheelers. All these activities took place in the woods. Nature calms me.
Thinking back on my childhood, I decided I wanted to see more of this country from a rustic natural point of view. Think Moab desert, Rocky Mountain backcountry trails, or Sierra Nevada Mountains. Seeing the landscape as it was for millennia.
The best way to see these desolate areas is on a motorcycle. They are nimble, durable, and fuel efficient. They can also be dangerous.
I called a motorcycle touring company about these trips. They asked me about my experience. I haven’t ridden a motorcycle in over 20 years. They wisely told me I needed proper training to complete the trip safely.
This is the financial equivalent of being told I can’t retire just yet. I have work to do!
Lack of Coaching:
Not thinking, I signed up for the first class I saw: sand training.
The teacher had lots of experience as a motorcyclist. I did not ask about his teaching experience.
He did not ask me about my experience, goals, or equipment. Just pay your money and show up. With limited instruction, we went to an area with acres of deep sand. Do you know how hard it is to walk in sand dunes? Imagine riding a 400-pound bike to ride through that. I did not know sand riding was an advanced skill. There were so many things I did not know.
It was not a good experience.
One of the other students pulled me aside and said, the BMW Course in Greer, SC. is much better. They will give you the training you need.
The Right Coach:
I signed up for the BMW motorcycle training course. The coach assessed my goals, skills, and steps needed to get me to improve safely. This is exactly what I needed.
They taught me to understand how and why to do certain things. It makes things efficient and, more importantly, safe.
BMW also gave me the drills so I can work on my skills at home.
Being Coachable and Next steps:
We can have the best plan in all the world. If we don’t use it, it is no different than having no plan at all.
We must be coachable, have faith in the process, and take our next best step.
I discussed this in my blog about finishing an Ironman.
If you want to discuss your next best steps, email me at Jeremy@Riverbendwm.com or click here to schedule a phone appointment.
Wonderful story: Amazing Invention- This Drone Will Change Everything. Drones delivering lifesaving medicines in rural areas.
On the lighter side, I continue to get demolished in chess by Elliott. I probably win only 20% of the games. However, I win each time I play because I am spending time with him.
Hope all is well with you and your family,
Finger Financial Five – 5 points in 5 minutes or less – is to provide you with a weekly shot of useful financial information. My intention is to share principles, so that you will have more clarity and peace, that help you make better financial decisions.
Investment advice offered through Stratos Wealth Advisors, LLC, a registered investment advisor. Stratos Wealth Advisors, LLC and Riverbend Wealth Management are separate entities.
This content is developed from sources believed to be providing accurate information and provided by Riverbend Wealth Management. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Stratos Wealth Partners and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.