This Week’s Blogger: Scott D. Heins, CFP®, IAG Chief Investment Officer
On Thursday evening the National Football League’s (NFL) 2022 season begins with the Super Bowl champion Los Angeles Rams hosting the Buffalo Bills.
To make an NFL team’s roster requires significant personal commitment by the players. They must commit to keeping their bodies in top physical condition, studying the playbook and film until they are intuitive, and avoiding lots of potential career-destroying decisions off the field.
Even if a football player checks all these boxes, there is no guarantee they will be one of the fifty-three players on a team’s roster. There are plenty of talented football players who were the best athlete on their high school football teams that do not play in the NFL.
In the entire country there are only a maximum of 1,696 NFL players on teams’ active rosters each week. Of those, only 1,504 will be active and eligible to play. And only 94 of those will be active when Super Bowl LVII is played in Glendale, Arizona, on February 12, 2023. And only 47 of those players will be victorious.
In short, the NFL season is a brutal grind of survival requiring plenty of skill and luck for a very small number of extremely talented players to emerge victorious.
Thankfully, your family’s financial success is not nearly as physically demanding. You have years instead of 17 regular season games to reach your goals. And the number of people who reach their goals is not limited by roster caps.
However, that does not mean you get to sit back and relax. Success requires a personal commitment to keep your finances in top condition, know your financial plan well enough so it is intuitive, and avoid lots of potential foolish financial flings.
You will still need to overcome temporary setbacks, mentally prepare yourself for challenges that are outside of your control, and have the wisdom to know the optimal action (or inaction) in times of stress.
Those are very tall tasks, particularly when the rulebook for finances is complicated by the tax code, employee benefits, government programs, and the financial markets. Having an experienced head coach to help you strategically navigate toward your intended positive outcomes is vital.
While the average tenure of an NFL coach at the start of this season is a mere 3.66 years, IAG has been helping coach families through their financial plans for 37 years. Our average advisor has been with our team for 14 years.
Even though your friends and family are not currently scheduled to have your personal financial planning championship broadcast live in February, we recommend suggesting that they hire one of our experienced coaches to lead their team soon. Their season begins today.
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.
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:
Cicero: “A thankful heart is not only the greatest virtue, but the parent of all other virtues.”
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