Recently I was talking with a friend about how much I like running. It’s simple, you can just lace up and go. It’s meditative, allowing for introspection and mind-wandering. And it’s great cardiovascular exercise. I looked at my friend expectantly.
“I hate running,” he said.
“But why?” I was at a loss that he couldn’t comprehend my passion.
“Because it’s boring … and hard.”
The idea of talking with a financial advisor makes many people feel the same way they feel about a trip to the dentist: not thrilled. After all, financial planning requires that we think through and talk about how to deal with scary or unpleasant circumstances.
But good financial planning isn’t just about downside protection. It’s also about planning so people can do the exciting and meaningful things that make life wonderful.
Today's note is a little more industry oriented than normal. Still, I thought you would be interested because it touches on my philosophies regarding Financial Planning:
Recently I got into a Twitter conversation (yes, I tweet. You can follow me at the bottom of the note) regarding an article claiming that most millennials shouldn’t be bothered with financial planning. One advisor responded that most people under the age of 50 don’t even need financial advice. Just “save as much as you can in your 401(k) and Roth,” this advisor wrote.
I completely disagree. This line of thinking is a peeve of mine. In fact, it’s more than a peeve — I set up my firm specifically to help these types of clients and work with them over the entire course of their financial lives.
Ahh, spring is here: the trees, the flowers. The barbeque is cleaned and ready to go! And if you live in the McCann house, diapers, lots of diapers… but at least we can open the windows now.
This spring marks the fourth year that I’ve been working as a financial advisor. During that time, I’ve stumbled across several conversations that I’ve mentally titled “Why Hire an Advisor?”
Dear Clients and Friends,
Welcome to the inaugural Quarterly Letter for Bootstrap Capital! I’d like to start by thanking those loyal friends and clients that have chosen to join me as I launch this enterprise. As most of you know, I became an advisor and started Bootstrap Capital because I am committed to helping people grow their wealth over time. I am honored by your trust and support; and I am excited that you have chosen to join me.
The financial services industry has a vested interest in making financial planning seem incredibly complicated. Don’t get me wrong – it can quickly become complicated. But I firmly believe that Financial Planning can and should start with very simple, basic concepts that are easy to understand. Hopefully by creating a simple foundation, we will limit complexity as much as possible. At the end of the day, the best plan is one that a client can understand and feel comfortable with.
Note: The contents of this site are general in nature and not intended as specific investment advice. All investments are subject to risk; including loss of investment value. If you have any question regarding investments or concepts in these pages, please consult with an investment professional.