The Financial Champion...From Sports to Finances!
By Sage Casaga
The goal of this series of short articles is to highlight the importance of having someone on your team throughout your financial journey. Given my extensive background in sports, I understand the unique benefits athletes can receive from utilizing a financial advisor. There are many parallels between a professional athlete’s approach to their sport and an advisor’s approach to financial planning and investing. The mindset required to maximize your athletic performance is the same type of thinking needed to reach the highest level of your financial potential. As in athletics, with some knowledge, discipline, and a strategy, our financial goals can be achieved. Keep reading to find out how you can score off the field and become a financial champion.
A Team Player:
Who do the most elite professional athletes in the world credit their success to? Themselves? Well...maybe, but a true champion ALWAYS credits their success to the team: coaches, trainers, family, fans, teammates, and everyone else who contributed to their success. Even in an individual sport such as golf, a talented player is unlikely to make it to the top unless they have a caddy or coach that they trust. Tiger Woods had Butch Harmon, Michael Jordan and Kobe Bryant had Phil Jackson, Serena Williams had Patrick Mouratoglou, Ricky Carmichael had Aldon Baker, Michael Phelps had Bob Bowman, and Tom Brady had Bill Belichick. To have the best chance at success, you want someone you can rely on for advice to help you improve and reach your goals. When it comes to making financial decisions, the same concept applies. Having a coach on your team that can help you put together a plan and make sure you are on track to achieving your financial goals will give you the best chance at financial success. Ultimately, an advisor can identify opportunities within each situation to create a strategy to win the game.
Being a professional athlete is not only physically demanding but mentally exhausting and time-consuming. The best athletes in the world are so dedicated in their preparation for competitions that spending well over 40 hours per week on their craft is not unusual. Simply put, most do not have the time nor the energy to focus on the financial aspect of their life – they want to concentrate on their profession. For this reason alone, athletes make the smart decision to pass the ball to a financial professional. Having someone on your team provides the best opportunity to become a true champion.
Next Article... Pay Yourself First: (You cannot pass the ball if you never had it in the first place!)
Sage Casaga is a Financial Advisor of Santa Monica, Calif-based Gerber Kawasaki Inc., an SEC-registered investment firm with approximately $1.3 billion in assets under management as of 06/30/20. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which course of action may be appropriate for you, consult your financial advisor. No strategy assures success or protects against loss. Readers shouldn't buy any investment without doing their research to determine if the investments are suitable for their situation. “All investments involve risk and one should consult a financial advisor before making any investments. Past performance is not indicative of future results.”