What does it take to win the Masters? What do the top players at this year’s tournament have in common? Is it their confidence, is it a new GPS watch, is it their choice in irons, or is it something else. Jordan Spieth, Jason Day and Rory McIlroy all have one thing in common.
They’ve worked with the same coaches since before their teens. Maybe the secret to winning the masters isn’t so much about natural ability, but about having a long-term trusted coach. I believe the same is true when it comes to mastering just about anything, including investing. If you want to increase your probability at pursuing financial success, you need a long-term trusted advisor.
Of course, when it comes to golf, natural ability can’t be ignored. However, skill alone, without a coach to help you keep your emotions and behaviors in check, won’t make you a champion. A coach is able to provide you with deeper insight into how your behaviors and outlook can be impacting your game. A coach keeps you focused on your long-term goals, despite what is occurring in the short-term.
Is it a coincidence that Tiger Wood’s fall from grace began after hiring his fourth swing coach? Did he lose his ability, or is it his inability to find and work with a long-term coach the real reason he’s not won a major championship since 2008?
When it comes to investing, there are lots of online tools available to help you increase your financial knowledge, analyze your options, and easily make an investment. But can they keep you from making an unwise, emotional, financial decision? Do they keep you calm in the face of market volatility? Do they keep you focused on your long-term goals when you’re feeling spontaneous and looking to spend, spend, and spend? Do they help you formalize a comprehensive strategy that includes all aspects of your financial world including taxes and estate planning?
Think about the most successful people you know. Do they go-it- alone when it comes to investing and having a long-term financial plan, or do they work with a trusted financial advisor? Increase your odds at pursuing financial success by finding a trusted advisor, one who is interested in working with you not just to process a trade, but through life’s many twists and turns.
If you are interested in learning more about the relationships Jordan Spieth, Jason Day and Rory McIlroy have with their coaches, check out this article. I found it very interesting.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Securities and advisory services offered through LPL Financial, a registered investment advisor, member FINRA/SIPC.