Money Monday!

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My take on luck in financial management is summed up by the three quotes below:

“Luck is the Residue of Design” – Branch Rickey

Solid financial planning gives you clarity.  When things are clear for you, you can see opportunities that others would call luck.

“Luck is What Happens When Preparation Meets Opportunity” – Seneca

I’m a big believer in keeping some cash on hand for opportunities. Truly lucky people are ready to accept luck when it presents itself.

“Luck is Believing you are Lucky” – Tennessee Williams

OK… This one is interesting.  I literally have several clients who have told me that they’re willing to take certain risks in their financial plan because “Things just work out for us”.  Two thoughts on that:

1. We tend to find what we are looking for. I find that people who look for good outcomes tend to find them.
2. This attitude also shows resilience. If you feel that “things just work out for you,” you may be more likely to push forward and ignore the things that don’t work out because that’s not consistent with your belief.

There’s obviously significant risk in taking major chances just because you are “feeling lucky”.

However, there’s no harm in always being ready for something good to happen!

 

 

 

Any opinions are those of Wheeler Financial LLC and not necessarily those of Raymond James. Past performance may not be indicative of future results.  Investing involves risk and you may incur a profit or loss regardless of strategy selected.