Another week another opportunity to reflect on an amazing experience at World Championships. With two weeks of recovery I'm finally feeling like I'm getting back into a regular rhythm of work and family. We're completing our wrap-ups and de-briefs with individuals and the team as a whole, and it feels like we are officially turning the page on our time together. Time to share a few more thoughts and ideas that have come out of this World Championship.

 

The experience matters.

Historically, the best athletes and coaches have been intense, fiery individuals who yell at other athletes and highlight every mistake that is made. That fire can fuel short-term results, but it can toast relationships and burn up love for the sport. Thankfully the world is changing, and as a coaching staff we made a concerted effort to highlight successes, work through mistakes, and model the calm and confident attitudes that we wanted for our athletes. There was certainly an internal fire that drove everyone, but it was a steady focused flame that brought people together rather than a raging inferno that pushes everyone away. Within the investing world it is incredibly easy to chase those high-octane investments, aiming for 20%+ returns. Those returns are not sustainable and you're just as likely to see a 50% decline which kills your goals and makes investors incredibly conservative for the rest of their lives. The experience matters to investors as much as it does athletes, and keeping everyone happy, engaged, and committed is the best way to achieve great performances on the field and in the market.

 

Support matters

While I've slightly alluded to it above. Athletes and investors need people in their corner who they know they can trust. As coaches we gave honest feedback and our best assessment of every athletes skills. This was the information they needed to make the best decisions for themselves and the team. Sometimes that means we tell athletes that they need to make better decisions, and other times it means we need to take them out of the game if their risk of aggravating an injury is just too high. As a Cerfitied Financial Planner I take that same approach to working with clients. I have detailed conversations to understand their situations, and then have honest conversations about what I think is the best approach for them. Sometimes that means having the hard conversation that they need to save more or spend less, and other times it means explaining that they've done so well for themselves they can take some risk off the table and enjoy the lives they've built. 

 

At the end of the day all you are left with is a memory of the event

Unless you win a medal there isn't much to show for all the work that you've put in to ean a spot on the National team and get to a World Championship. Most people outside of the frisbee community don't particularly care about the sport, and each of these seasons costs a lot of money for athletes (we're almost completely self-funded). In essence you're trading money and time, for memories. Going into every game and tournament, I like to remind myself that it will end at some point and we will all have to go back to our regular lives. It helps me appreciate the moments, and balance how I will feel in the future. As investors we plan so much for retirement and when it gets there we need to be comfortable with the choices and decisions we've made. For people who live beyond their means, they regret not saving more and being forced to make challenging decisions in retirement. For people who save too much, they can be left wondering if they should have enjoyed their lives more and spent more time and money on things they cared about. Finding that balance between living in the moment and preparing for the future is so tough, but as an advisor it is a discussion we work through with clients every day. Financial planning in particular is a great strategy to better understand how to balance the present and the future, and we would gladly take you through this process.

 

I'll be shifting gears next week, back towards a more traditional investment discussion. But for now I hope you enjoyed a little insight into this very amazing experience.

 

Cheers,

 

Pete Galbraith, Investment Advisor & Certified Financial Planner

613-531-2922

peter.galbraith@cibc.com