MathSeptember 1, 2021 -
Categorized in: IAG News
My kids have now been back in school for almost two weeks, and we are having a math outbreak in our house.
Both my sixth grader and sophomore asked me to start checking their math homework this week as their grades are not quite where they want them to be.
It turns out math is fairly unforgiving. Transpose one number, miss one calculation in the series, fail to show your work neatly, or (heaven forbid) not read the entire question, and your answer is just flat out wrong.
Honestly, the challenge for them is not the math. They are both smart and understand the concepts. Their challenge is consistently carrying out the solution to a problem from the first word of the instructions all the way through to the answer.
I find that plenty of the new clients that come to our firm have a reasonably solid background in financial decision-making. They are smart. Sometimes they are just feeling overwhelmed by the often-conflicting advice they receive from family, friends, or the abundant free impersonal advice found online. Sometimes they are simply at a critical point in their lives where they have a new opportunity, an inheritance, or are starting over and want to start off on the correct path. Sometimes they are just looking for a confidence boost that comes with a second opinion.
Too many people believe that long-term financial success relies solely on math. While math does play a cameo role, the most important drivers of long-term success are fully reading and understanding the question, developing the correct strategy to answer it, and then executing that strategy consistently. That, my friends, is the essence financial planning.
Your family’s financial planning questions do not come from a boring textbook (though I have to say today’s textbooks are more engaging than those I had as a kid). Your questions come from real life challenges or opportunities. They come from your mind or your heart asking “Where do we go from here?” and “How do we get there?”
If you or someone you know is asking these questions, one of our caring advisors would be happy to help them find the answers they are looking for (in a non-math tutor kind of way).
Quote of the week: Calvin Trillin: “I never did very well in math – I could never seem to persuade the teacher that I hadn’t meant my answers literally.”
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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.
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