73.7% and You’re Out of Here - By Jerry Black
Not too long ago that was the message given to a well known and highly respected football coach. During his tenure, his teams had won 73.7% of their games. That’s impressive!! Not many coaches achieve such a fine record. The problem? What have you done for us lately?? His team had not won a championship in recent years and that was not acceptable.
Unfortunately, many people view their financial portfolios in the same light. If the portfolio hasn’t won the championship in recent years its perceived as being not acceptable. It comes down to expectations. Have they been properly established? Has something been promised but not delivered? All too often coaches are replaced with a hope and promise of more championships - That change will bring a better result – the fans get excited over the possibilities and the airwaves of “noise” produce anticipation. And sometimes it does because the coach was awful and needed replacing. And unless the new coach is really something exceptional, the long term results are average. That’s because the rear view record of the new coach is no indication of his or her future results.
There are some transcendent principles for good wealth accumulation. Here are two: “The longer the term of your thinking, the better your decision today.” And “Steady plodding brings prosperity and hasty speculation brings poverty.” Principles do not guarantee success but do offer an opportunity for a better outcome with greater contentment. How does this resonate with you? Give us a call.