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In the Book of Genesis, God gives Adam and Eve dominion over all the earth, forbidding them only from tasting the fruit of the knowledge of good and evil. And for a moment, their innocence is perfect. Then, being only human, they succumb, and bite the apple. This is the original transgression, and when they have committed it, everything bad about earthy life comes rushing into the world: sin, shame, toil, sickness and death. They made just one mistake, but it was the one and only thing they were forbidden to do.
I think that, in a strange way, good investing is a little like that earthy paradise. Because, when it’s done right, long-term investing is seamlessly aligned with the lifetime goals of the investor and his family. There is perfect integrity, innocence, if you will, about goal-driven investing. It is an appropriate means to a healthy end: financial peace in the current generation, and important legacies to the generations that follow.
When we bite into the apple of “out-performance” when the focus of our portfolio shifts from our financial goals to the markets themselves, that is the original sin, the mother of all mistakes. And when we give into temptation, every classic, return destroying, soul-murdering behavioral proclivity to which human nature is heir comes rushing into our financial and even our emotional life. - NICK MURRAY
Successful investors are those who have their portfolios managed in the service of their life’s goals, instead of trying to beat the market. We understand the trap. The toxic drumbeat of materialism coupled with lyrics of “YOU CAN BEAT THE MARKET... DOUBLE DIGIT RETURNS... PROVEN TRADING SOFTWARE...FINANCIAL GURU EXPLAINS HOW...LATEST TRADING SOFTWARE...ETC.” All of these are temptations that are difficult to ignore. We always try to bring the highest level of returns for our clients however, we realize that out-performance is desirable but is not the goal. Funding a long retirement is a goal, paying for your children’s education is a goal, leaving a lasting legacy for your family is a goal. Goal oriented investing is simply about accumulating and growing ones assets to meet ones goals. The portfolio is always the servant of ones goals. A goal oriented investor acts. A market driven investor reacts.
For our listeners we have provided FREE OF CHARGE the ability to set up a consultation with a Certified Financial Planner who is an expert in helping people meet life's goals. It does not matter whether you are new to investing or just want a second opinion, our planners are here to help.
To further understand the importance of the Certified Financial planner designation go to...
“Charge like a bull!” Seize and take advantage of all opportunities to sell any type of insurance product or annuity. “Insurance, you can never have enough insurance!” The insurance salesman of the world will say anything; do anything to close the sale. That is their task at hand, the modus operandi for insurance salesmen and unscrupulous brokers across the land. Where else can you find an “investment product” that will pay up to 15% in commissions? An investment product that will let you “set and forget” the client, in essence take the money and run. Sell that annuity or unnecessary variable universal life plan and on to the next mark!
Efficient and profitable are words that describe the insurance and annuity business, great for the salespeople and the balance sheet for his or her firm, but almost always disastrous for the client who was expecting the advice of a professional. We are inundated with cases where elderly couples transferred their million dollar nest-eggs into an illiquid annuity or another high commission insurance product that will ultimately give them a low single-digit return with a double-digit surrender charge. We have been doing all we can to educate people in regards to the various scams that have proliferated in the insurance industry over the past few years. Despite our best efforts it has been very difficult to keep up. Unfortunately we are on our own when it comes to helping investors regarding these ill advised insurance products.
The major problem with life Insurance and annuities is that most policies are sold by insurance salesman rather than a financial planner. The fact is, both life insurance and annuities contain investment products and the only way to get a true understanding of the investment products and proper allocation is to work with an insurance/investment expert, not a salesman. Too often I find people confused by their policies and forgotten about after the sale takes place. More often than not these people are left to manage their policies with no help whatsoever. Our Insurance and Annuity Help Kit will help you in auditing your policies and put you on the right track.