Always a Tradeoff

(edited transcript) … There’s always a tradeoff. We talked about this in a recent commentary, for one gentleman, he’s like “Well, I just didn’t really want to pay an advisor fee, so I was just doing it myself.” At some point, he realized his lack of confidence and clarity, even in his own abilities, was leading to hold way too much cash, which had a cost. But it was also costing him time away from his family, which he really wanted to have more time with. He was getting up, spending a few hours a day watching TV, reading things. Just that fear of being wrong gets paralyzing. And I get it! Making decisions, making wrong decisions is tough, but just sitting and not doing anything is a problem. Conversely, there are times where you shouldn’t do anything. Or do what at least you feel like you should do. Think, markets plummeting and you’re like, “I got to get out before it keeps going down!” But that’s why being able to articulate things out loud. Have someone, “This is what I hear you say,” “Really? Because that sounds not that great,”– is so helpful. We tell clients all the time, maybe we know more about you than this maybe we don’t, but we’re going to be better together. And I think it’s that idea of a partnership that, again, drives so much of our process.

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Always a Tradeoff

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