For those of you who don’t know, back in the day, I used to teach private baseball lessons. This was a phenomenal experience in my life, and I was blessed with some of the best students. Recently, I got a call from one of my old students, asking if I would stop back in and give them a refresher course on hitting. It was while reviewing some of my hitting notes(which I developed and taught LONG before I was in the financial services industry) with this student that I found a STRIKING analogy.
My philosophy in hitting is very simple. It is: “To gather 100% of your available power, then deliver 100% of your gathered power at the baseball.” The purpose behind this philosophy is to break down a very complex action into something very simple to follow. I’m a firm believer in finding the simple path. I think the Lord gave us a simple path to follow in Matthew when he summed up all the commandments into giving the Lord your all and loving your neighbor. Think about it, try to break any other commandment and NOT break one of those summaries! I think it’s absolutely VITAL to have a focal point as you attempt to accomplish any task. Whether it’s focusing on giving the Lord your all as you walk your Christian walk, or not losing power during your swing as you attempt to hit a round ball with a round bat, you must have a clear point to focus on as you perform the action.
What I do that is unique in the financial services industry, is focusing on the process instead of the product. I have another analogy I would like to present you with: You are going to ‘pinch hit’ in the 9th inning of game 7 of the world series of baseball. I have two gifts that I can give to you, and you may pick one. First, I can offer you any bat that has ever been swung by a professional player, or I can offer you the ABILITIES of any player. Which would you choose? Obviously, the abilities are far more important than the bat! Unfortunately, when you think of financial services, you typically think of the new investment, the better rate of return, the ‘bat’ that will hit it further, when in reality, what really needs to be addressed is the swing! You can have the best ‘bat’, but with an inefficient swing, you will still have unfavorable results! My approach, is to work on the swing, use what ever bat you have, before we ever try to find a new bat to swing at game time.
Another comparison: Efficiency-
Efficiency is key in both baseball and your finances. Most young students will transfer more energy in their baseball swing through inefficient motion than they will ever direct at the baseball. Most adults will transfer more wealth in their lifetime through inefficient finances than they will ever accumulate. You may be disagreeing to both points, you may be nodding your head to one, but I have seen BOTH many times. Whether it’s striding open and losing power to first base, or losing dollars in taxes, debt service,or opportunity cost, there are simple mechanical rules that must be followed to give you the proper swing. When you have this efficient swing, than we can go to my ‘bat’ rack- I’m a broker and we can work with any investment you prefer.
- How to become a Wealth Creator versus a Debtor or Saver
- How you can capitalize on the power of compound interest, solidify access to your money, and minimize the losses you may be experiencing from how you make major capital purchases like buying cars, how you take tax deductions, and sending kids to college.
- The benefits associated with various savings vehicles
These questions NEED to be answered. They CAN be answered with MATH, and not just opinions or hypothetical scenarios based on an un realistic rate or return. If you don’t know the answer to one or all of these questions, don’t delay! Just like in baseball, your Christian walk, or you finances, you MUST have a focal point. If you are wasting energy in any direction OTHER than the focal point you are giving less than 100%. In this day and age, that won’t suffice. Don’t go another day wasting energy or wealth!