Do you have an Ultimate Goal?
Sara Faitelson • August 26, 2020
Do you have an Ultimate Goal?
We have limited time, energy and resources. That means nobody can buy time. We can delegate and leverage our time, but we still have to know what’s our ultimate goal. In today’s world it is always about the next new thing. Everybody loves a new and shiny thing and they love to get rid of something that is old. That is why people would wait overnight to get the latest phone Apple would launch. It is not like these people do not have phones that work. They want the best and the newest phone on the market. How about your business or practice? Do you have an ultimate goal? Or are you just looking for something shiny and new every quarter?
Almost 10 years ago I fell into the divorce market. I started noticing a pattern. Many divorced women were looking for another woman to be on their side. Someone to help them get through their financial and emotional messes. I am not saying men do not want the same thing. I am saying that over eighty percent were divorced women versus men. I found someone who was looking for someone like me and I wanted to be a resource to them. I learned as much as I could about divorce proceedings and where I would fit into the team. It made me realize what my ultimate goal was: help women make savvy decisions. Women tend to make decisions based on feelings rather than facts. My goal was to help them find a balance between feelings and logic. Let me tell you it is not an easy task, but I love it. I love receiving their calls of appreciation because someone took the time just to listen to them. We do not always talk about their finances. I became their friend too. It is nice to know we can make a contribution to enrich people’s lives.
Sometimes we are so busy living in the day to day activities that we miss the mark. We forget about the ultimate goal and go after the flavor of the week. I will never regret my decision on my ultimate goal. I hope everyone who is reading this blog has a similar passion.
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Hello blog readers. I hope everyone is safe and healthy. It has been quite a year. Who would have thought we would still be in a pandemic a year and a half later, but here we are. Lately, we have been laughing about what people are calling Covid 15 – gaining 15lbs during this pandemic. I do not know about you, but I am a big fan of pizza, which is why it is easy to become a victim of Covid 15. Most of us cut the pizza pie into 8 -10 slices. Would you ever buy a whole pizza, cut off one slice, and then throw away the rest of the pizza? I doubt it, but that is what many people do when assessing their financial goals. Last week, my business partner and I were sitting with a couple who is in this situation. They have one piece of their financial business with one person and then other pieces with other people. When I asked how their pension works with their retirement plan, they looked at me like I was speaking a different language. No one has ever looked at this piece of the pie and tried to fit it in the rest of the retirement plan. I asked about reviewing the pension booklet and creating a game plan where they can start planning for their retirement date. They said “oh, that’s how you figure out when to retire.” This is a situation that happens more than I can count. Clients have different people doing different things for them, but no one has an end game. Retirement because reactionary rather than proactively assessed. What is the point of this story? The lesson is: “don’t eat one piece of the pizza and throw the rest of the pie in the trash.” If you want to have success, all pieces of the pie must be analyzed, and they must work together to compliment each other. Registered Representative of, and Securities and Investment Advisory services are offered through Hornor, Townsend & Kent, LLC, (HTK), Registered Investment Advisor, Member FINRA/SIPC. (215) 957-7300. Stiletto Financial and other listed entities are unaffiliated with HTK does not provide legal and tax advice. 7585271RG_Jan28
Hello blog readers. I know it has been a few weeks since I have been able to post. It is tax season and it gets crazy here. This time of the year I am usually on the phone or clients reach out every day non-stop. One week we had a waiting list because we received so many calls in a week. Things are finally calming down and I wanted to write about two types of clients I have. Let me start by saying it is not great to go extremes. I want clients to open their statements and ask questions when we do our quarterly reviews. However, I do not want to receive a call if a client looses 17 cents. Having balance will help you be realistic, and you will not make knee jerk reactions. Balance is the key. It is good for people to want to know how their account is doing, what kind of trends advisors, and the tax consequences associated with their decisions. However, a financial advisor is not focused on day trading. We look at money from a long-term perspective and take the emotion out of investing. What do I mean by that? Have you ever gone food shopping on an empty stomach? It is the biggest mistake I have ever made in my life. I ended up buying way too much food that I could never eat by myself. I was hungry and everything looked appetizing and I started to fill up that shopping cart. We can make the same mistake when it comes to investing in the market: buying investments because everyone tells you to and you are always looking for a good tip. What is the moral of the story? Keep track of your accounts, maintain a balanced view, and don’t go food shopping on an empty stomach when it comes to investing. 3473555RH_MAR23