Q. I like your philosophy of being prudent, consistent yet growth oriented. And your lack of pressure. I know that I need to turn this over to someone, but…how do I get beyond the thoughts that stop me from taking action?

A. There are five common brain-stopping thoughts that cause many people to stand still, instead of preserving and protecting their assets. All are valid thoughts. And here are five responses.

  1. Change is momentarily awkward.
    Indeed it is. Telling a former Advisor goodbye, whether a trusted friend or not, IS hard…for two minutes. Just do it. Make the call. It’s like telling the waitress, “No thank you, I’ll pass on dessert today. My mind is made up. I have a bigger commitment to keep.”
  2. A history of disappointments can create a feeling of anxiety about the future.
    Rik Saylor Financial is NOT “that other guy”. We counsel our clients to put the past in the past. During your consultations, we listen to your concerns and put safeguards in place.
  3. The “Swimming Pool Moment”—
    Back when you were ten, poised over the water—just before you jumped, you froze. Notice that moment of inertia before the push-off. Even a strong swimmer, looking forward to the future, develops a routine: Arms over your head. Gulp. Take a deep breath. Push off. Investors need to be in the pool, not standing on the sidelines. It can potentially be dangerous to swim alone. Prudent retirement planning is like having a lifeguard by your side.
  4. The “Trapeze Artist Moment”—
    Survivors take measured risks. They realize you must “give up your Good…to have your Better”. Even if you’ve done pretty well on your own or somewhere else, if you realize it was mostly luck, the next Obvious Right Choice is to move forward. It takes courage to let go of the comfort of what you have—to attempt a strategic move with the goals of greater returns and more security. When appropriate, with some clients, we offer an insurance plan wrapper around an investment. It’s like having a net under the trapeze.
  5. The “Busy Juggler Moment:”
    One morning you realize the preposterous task of managing too much information on your own. There are over 19,000 mutual funds…and you’re busy. You don’t change your car’s oil or cut your hair or perform surgery on yourself. If you let it, TV will bombard you 24/7. News outlets run sensationalized stories. Reporters are not trained financial coaches. It may be a very freeing moment when you turn financial management over to seasoned professionals.

Q. Trust is often a stumbling block to making a financial commitment. Do you have any advice from the ages?

A. Get to know each other, like courtship, before you jump in with any advisor. Ask yourself:

  1. Do I like this person?
  2. Do I trust his advice?
  3. Do I see value for the fees paid and services received?

"Progress is impossible without change, and those who cannot change their minds cannot change anything."
--George Bernard Shaw

“The right time to invest is when you “have” the money.”
--Shelby Cullom Davis

“Investors should purchase stocks like they purchase groceries – not like they purchase perfume.”
--Benjamin Graham

“Portfolios should be like a flower garden where something is always in bloom.”
--Benjamin Graham

“Calling someone who trades actively in the market an investor is like calling someone who repeatedly engages in one-night stands a romantic.”
--Warren Buffet