Money Monday!

I recently returned from a fly fishing vacation in the Catskills. While I was fishing, I got thinking about some interesting parallels between fishing and money management:

1. If you catch anything at all, you will likely catch what you are fishing for. The same goes for financial planning.  Financial success does not happen by accident and rewards those who are intentional.  Just as you are unlikely to catch a Smallmouth Bass with Blue Marlin bait, you are unlikely to meet your financial goals unless you are intentional in planning, and you spend and invest accordingly.
2. Some days, you will get skunked. Keep fishing.  Think of this during the next market correction, and stick to your plan.
3. If you want to be guaranteed a fish, you will have to go to the fish market where you will pay a premium. Seeking guaranteed results in investing works in a similar fashion. While annuities pay a guaranteed return, the insurance company needs to make some extra money to ensure they can deliver on that promise.
4. Enjoy the boat ride.

 

 

 

 

 

 

 

The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation.  Any opinions are those of Wheeler Financial LLC and not necessarily those of Raymond James. Expressions of opinion are as of this date and are subject to change without notice.  Investing involves risk and you may incur a profit or loss regardless of strategy selected.