There are things you have to play if you want to win – sports for example – and others where you can win if you don’t play – relationships springs to mind. There are things that can move from one camp to another, I think employment falls into this category.
Things you have to play to win are competitive, there is an opponent, there will be a winner and a loser. Where you can win without playing there usually isn’t an opponent (other than yourself), you can win or lose independently of someone else.
Many treat investing and financial planning as a competitive sport. But that’s a mistake, there is no opponent to vanquish.
In investing you are your own opponent; “the market”, your neighbour, your colleagues are not opponents, they are distractions.
Recognising this you can then focus on your investment strategy. Here “not playing” – simply buying quality investments and sticking with them – gives you a great chance of winning and massively reduces the chances of you losing.
That is what our work is – to maximise the chances of you winning by minimising the chances of you losing.
And that means accepting you are your only opponent and sticking to a clear simple strategy by not chasing returns or reacting to news in the heat of the moment. Or guessing what comes next.
That’s not to say we are not risk takers, we are, but only in the moments, very few and far between, when the odds are loaded in our favour.
Our ultimate for you, with your financial planning, your life, your conflicting wants and needs is to avoid future regret.
It’s much easier said than done which is why you need us.