Written by Andrew Roth, Operations Manager
We can spend our lives waiting; waiting for spring, the holiday season, a graduation, a promotion, an upcoming vacation, waiting, waiting, waiting.
For people who have young children, “wait” can become a reflexive command. It’s a response to many questions and demands. As we grow-up we become more accustomed to waiting but it doesn’t make it easier. Waiting is difficult because it delays gratification. It delays what we want.
The waiting can be the hardest part of financial planning. We realize our job as advisors requires us to ask that people wait. We understand that sometimes “wait” is a tough thing to hear. It can mean that certainty or gratification is delayed. It means more time.
Our hope is that you trust us enough to wait.
Successful financial management is about waiting. Nothing happens overnight. We take a long-term view with financial planning. When we build portfolios, we know that asset classes have ups and downs, but we have patience to wait until they’re back in favor because we trust in diversification. From a planning standpoint, we may be encouraging clients to save more for the future or wait to let their money grow, instead of spending it now. We might be discussing waiting to retire a few more years to shore up savings or turn on pensions and social security benefits.
Waiting is especially relevant during periods of uncertainty. We wait because we trust it will get better again. Trust is also critically important during these times, and we hope you trust that we’ve planned for rough patches. For the past few years we’ve been couching our discussions with the thought that we’d again deal with turbulence at some point—just like all cycles before.
As we navigate periods of uncertainty just know that as you wait, we’re doing our best to guide you through. Behind the scenes we’re navigating the industry, our partners, economic conditions and tools to make sure things are situated for the moment, but also for the inevitable recovery once the clouds clear and smoother sailing returns. We have a long term view and believe there will be long term rewards. The plans we build together are most important when the going gets tough.
Good things come to those who wait.
[Note: Asset allocation and diversification do not ensure a profit or protect against a loss.]