Last month, I joined many others in closely following the fascinating Artemis 2 space mission, which marked the first time since 1972 that astronauts flew around the moon. For Canadians, it was an especially proud moment since one of the astronauts was our own Colonel Jeremy Hansen, a fellow graduate of the Royal Military College of Canada. Observing the mission underscored the importance of communication and information management, which is also important when it comes to our finances.

Despite having the most advanced technology and a program budget of $90 billion, the crew still faced a significant challenge.¹ As the spacecraft reached a record distance of 406,771 kilometers from Earth, the astronauts experienced a planned 41-minute loss of contact with mission control as they traveled around the far side of the moon.² During this time, they were out of reach of NASA’s communication network.

Even in this isolation, the astronauts were well prepared. Careful planning, rigorous training, and reliable equipment allowed them to handle the risks and carry out their mission safely.

Here on Earth, we often face the opposite problem. Instead of too little information, we often have too much. Smartphones have made this even more challenging and studies have shown that some people check their phones over 200 times per day, or once every five minutes while they’re awake.    

The constant flow of news and alerts can overwhelm us, especially when it comes to managing our investments.  Surveys reveal that over 17 percent of individual investors check their portfolios several times each day.  This habit can lead to overtrading, which often hurts returns. Research has shown that individual investors who trade too frequently can underperform the market by more than four percent a year.⁵

Many of my clients tell me that one of the biggest benefits of working with an advisor is peace of mind. They can trust that their finances are being managed with care and discipline, without the need for constant checking or second-guessing. With a skilled advisor and a clear plan, you do not need to monitor every detail. Your finances stay on course, freeing you to focus on what matters most to you.

Whether in space or in the markets, careful preparation and having the right person at the helm can help keep us on course.

Stay disciplined,

-Andrew

Sources: 1) Forbes 2) NASA 3) Reviews.org 4) Yahoo Finance 5) Garay and Pulga