Backgammon is a great game; it combines the luck of rolling dice – where any combination rolled might be either helpful or unhelpful.
The skill comes from understanding the games fundamentals, when to be aggressive and when not and being able to read the situation in the game.
Good rolls can easily be wasted, and the effect of bad rolls minimised.
Backgammon is a game Benjy and I enjoy playing together. He is getting a good head for it and has taken me to the cleaners on a few occasions.
As with any pastime, I can gain revenge over my 9 year old with a second game of backgammon – I can wipe the slate clean and start again.
Financial planning and investing is not a game like backgammon, you can’t practice over and over and hope to get better.
However you can work with a team that has practiced over and over again, that has worked with hundreds of families over the years, that has 30,000+ hours of talking with clients, working with them, learning and practicing about financial planning.
Those 30,000+ hours can’t be replicated by you, you will never have the same depth of experience and understanding of the fundamentals, when to be aggressive and when not, and have an innate ability to read situations as they change. To avoid wasting good luck and to minimise the effect of bad luck.