Our entire financial planning approach is aimed at liberating clients from the destructive obsession with trying to control outcomes. Instead of trying to engineer results, we concentrate on inputs, such as saving and spending, which are within our ability to control.
Successful Investing by Plan
We understand that many clients have difficulty not trying to control results since that is the central theme of almost every bit of financial media each day. This is exactly where the value of planning comes in. Successful investors act according to their plan; unsuccessful investors react to the day-to-day markets. Without an objectively crafted financial plan, investors are left to their own emotions and that can be very dangerous. In fact, this is the root cause of why many investors are so poorly prepared for their own financial future.
Trying to control outcomes might seem reasonable but in reality it is an obstacle to accomplishing what you want. I recall going to softball pitching lessons with my daughter (who ultimately pitched in high school and college) and hearing the instructor caution the pitchers against “throwing versus pitching”. That is, trying to aim the ball versus relying on body mechanics and muscle memory to pitch the ball to the desired spot. The very same principle applies to our financial lives. We can’t control all the variables.