posted on January 9th 2017 in Austin CFP Team Posts with 0 Comments /

This post is a preview of WorthPointe’s e-book Evidence-Based Investing: Separating Fact From Fiction, written by Certified Financial Planner™ Scott O’Brien. In Evidence-Based Investing, Scott discusses the myths and misinformation that most often slow or halt our financial goals. Get your free copy of Evidence-Based Investing here.

Most families spend more time planning their vacations than their financial lives. With financial planning, it’s not just your finances at stake; it’s the quality of the rest of your life.

Why Do You Procrastinate?

The biggest reason you procrastinate has to do with urgency. You falsely believe because retirement is in the far- off future, you don’t need to do anything about it now. But nothing in this life is free. If you want “paid” time off when you retire, you need to save, invest and plan for it now.

People who put off financial planning remind me of a joke from Mark Victor Hansen, co-author of the Chicken Soup series of books: “My banker asked me for a statement. I said I was optimistic.”

Scott Wenger, editor In chief of Financial Planning Magazine, states, “People don’t want to plan — they want the effects of planning or the benefits of planning. People don’t go to the doctor for a colonoscopy. You go to make sure nothing is wrong with you, and they might do a colonoscopy.”

Aim For A Target

If you don’t have a target, how do you know if you’re on track?

At the 2004 Summer Olympics, Matthew Emmons was in the lead and expected to win a gold medal as he prepared to fire his last shot in the rifle competition. All he needed to win was a score of 7.2 on his last shot. He hadn’t scored lower than 9.3 that day.

Emmons took aim, fired and hit the bull’s eye. The only problem was that he hit the bull’s eye on the wrong target. Instead of hitting the target in his lane, he hit the target in the lane next to him. China’s Jia Zhanbo took the gold medal and Emmons ended up in eighth place. Ouch.
Read the rest in Evidence-Based Investing. Get Your Complete Copy of the Book Now.

about the author: Scott W. O'Brien CFP®

scottScott W. O’Brien CFP® is a CERTIFIED FINANCIAL PLANNER professional who serves clients by coordinating their financial lives and assisting them in making smart financial decisions within the areas of investments, retirement planning, insurance strategies, tax minimization, and estate planning.

Scott was honored as the winner of the 2015 Five Star Professional Wealth Manager for Austin, San Antonio and the Central Texas region. He has been quoted in the Wall Street Journal, US News & World Report, and Investopedia.

Learn more and/or Contact Scott

Continue Reading

Other articles filed under Austin CFP Team Posts

What Does Tech Have To Do With Your Financial Peace Of Mind?

February 22, 2018 - [embed][/embed] WorthPointe works on your schedule. Austin Financial Advisor Morgan Smith explains how he uses his tech tools to meets clients where they’re at, even if they’re laying on a beach in Bali.
Continue Reading

What Does Tax Reform Mean for You?

February 13, 2018 - As a financial planner, I’ve certainly been getting my share of questions about the recently passed tax reform. In this article, I’ll address some of the most common concerns I’m hearing from clients, but how the changes in the tax...
Continue Reading

Stock Market Plunge: What’s Going On?

February 6, 2018 - By now, you have probably seen the news that the stock market is taking a dip. There is a lot of information coming at us fast as we watch to see what happens next. We are here to answer a...
Continue Reading

The Morgan Report 2017 Q4 Review: Wisdom Of The Elders

January 17, 2018 - The beginning of a new year is always a wonderful time to reflect on life in an attempt to change things for the better.  With that in mind, I’ve decided to gather some pearls from my favorite sources: my clients...
Continue Reading

Build a Holistic Perspective toward Success

January 1, 2018 - [embed][/embed] Health and wellbeing takes attention to all areas of your daily life. You can’t lace up your running shoes once a week or catch a couple of waves and expect vibrant health in return. Eating right, regular physical activity,...
Continue Reading

Return to Blog Home