This Week’s Blogger: Scott D. Heins, CFP®, IAG Chief Investment Officer
How many companies strive to make their customers happy by offering them less while increasing the price?
This season Major League Baseball is implementing new rules that are expressly intended to increase fan happiness by offering them less baseball. These new rules will require batters to get ready faster and pitchers to pitch more quickly while limiting other time-wasting (yet time-honored) traditions:
- Time between batters is limited to 30 seconds.
- Pitchers have 15 seconds after receiving the ball to begin their next pitch or it is an automatic ball.
- Pitchers may only “disengage” twice during an at-bat. This includes stepping off the mound or attempting to pick off a base runner.
- Batters have 8 seconds after the pitcher receives the ball to be ready for the next pitch or it is an automatic strike.
- Batters have only one timeout per at-bat.
On average, Major League Baseball anticipates these new rules will shave about 26 minutes from each and every baseball game this season. Doing the math over a 162-game regular season, that adds up to 1,053 fewer hours (or 44 fewer days) of baseball this year. And, strangely enough, neither player salaries nor ticket prices went down this season.
In financial planning, sometimes less really is more, and can create happier families in the long-term.
Spending less creates more savings. Less take home pay due to increased retirement plan contributions creates more retirement capital. Thoughtfully paying less in taxes creates more wealth for you than Uncle Sam. Less bad debt creates more cash available for higher priorities. Less demand for stocks creates long-term buying opportunities.
Yes, less can create happier outcomes when applied properly.
The challenge is understanding all of the rules and applying them to your unique circumstances at the right time in your life. While Major League Baseball’s rule book is a brief 173-page read, the federal government’s rule book — including laws, regulations to implement laws, and court decisions to interpret laws – is literally uncountable. Less would definitely create happier citizens.
Our passion is to help you navigate impactful rules and rule changes while aiming toward your family’s personal and financial goals. And just like baseball’s pitchers and batters, we will help you adjust when the rules (or your goals) change.
Securities offered through LPL Financial. Member FINRA/SIPC. Investment advice offered through IAG Wealth Partners, LLC, (IAG) a registered investment advisor and separate entity from LPL Financial.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results.
Any opinions are those of IAG and not necessarily those of LPL Financial. Expressions of opinion are as of this date and are subject to change without notice. This information is not intended as a solicitation or an offer to buy or sell any security referred to herein. No strategy assures success or protects against loss. Investing involves risk including loss of principal.
Quote of the week:
Shane Parrish: “Those that seem prepared in hindsight often seem boring or less efficient in the moment.”
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