One of the most fascinating stories of this year’s World Cup being hosted in the United States has not been on the field. It has been hearing visitors from all over the world say things like, “This isn’t what we expected!”
Many arrived with assumptions about America. Those perceptions were shaped by news headlines, movies, social media, or stories they heard from friends and family. But after spending some time in the United States, many experienced something different. They found strangers offering restaurant recommendations (Buc-ee’s and the best BBQ restaurants in Texas), helping with directions, celebrating together in public watch parties, and welcoming fans from around the world. It has been a great reminder that sometimes you don’t really know something until you
experience it for yourself. Our assumptions often don’t offer the complete picture.
What the World Cup and Financial Planning Have in Common
We see something very similar in financial planning. Many will put off meeting with a financial planner because they assume they already know what the experience will be like. They have read headlines, talked with friends and family, or simply assumed financial planning is only for people with a lot of money. Then, they come in for a conversation where they find a partner instead of pressure. They find encouragement and a plan built around their own goals and values instead of judgment.
Here are just a few of the perceptions we have heard:
|
Assumption |
Reality |
| I need millions to retire. | Many people retire comfortably with thoughtful planning. |
| The market is too risky. | Risk is managed through diversification and time. |
| I should wait until I’m older. | Time is often your greatest financial asset. |
| A financial advisor just picks investments. | Comprehensive planning covers taxes, retirement, estate planning, insurance, and more. |
One of the unexpected gifts of the World Cup has been watching people discover that reality can be better than assumptions. Over the years, we have talked to many of our clients who have discovered the same thing about financial planning. They have better clarity and more confidence in where they stand and where they are going. Sometimes the most valuable thing we can change isn’t a portfolio. It’s a person’s perspective.