Are you struggling to make financial decisions amongst the distractions and noise?
The key to increasing your confidence and therefore retiring comfortably is decisive decision making.
What we can learn from Tiger Woods to elevate your lifestyle in retirement…
Tiger Woods, arguably one of the best golfers in the world. If not one of the most successful sportsman in the world to boot.
Neither gifted nor a natural golfer at first.
It was the indoctrination of golf by his father, Earl, which was the driving force behind such a superstar.
As a young boy, his father religiously practised golf in front of him for hours on end. Everything was about golf which meant Tiger was drawn to the sport.
At 18 mths, his dad had him at the driving range hitting golf balls.
Yet, this was not his father’s driving purpose for Tiger. He wanted to “raise a good person” not “raise a golfer”.
It was like he was institutionalised into golf by the time he hit his teens. When most boys were thinking about girls, he was married to the golf course.
At the age of 12, his father thought he needed to toughen up mentally. He would proceed to follow him around the golf course. Coughing, yawning, dropping his golf bag at the precise time Tiger took his shot. I read somewhere his dad also verbally abused him to try and put him off his game. It was relentless.
Tiger, as you would expect, was frustrated by this. But the aim was for him to put the distractions behind him and quietly continue on with his game. Focus on what was at hand. Total focus on what he could control. Swing golf club and hit ball, it was that simple. While blocking out all the noise and distractions going on around him.
He became almost robotic-like around the golf course. As though he was in a league of his own strolling around his own golf course.
If you’ve ever played golf, it’s probably up there with one of the most frustrating sports on earth.
And here’s what you can learn from Tiger and how you can achieve more confidence in your retirement planning.
Tiger blocked out all the external factors, the ones he had no control over and focused on what was ahead of him. What he could control.
He surrounded himself with great coaches to help him succeed. The greats rarely succeed on their own.
It’s no different when it comes to achieving confidence in your retirement planning. Blocking out the noise and distractions is critical. What’s going on in investment markets? Who’s going to win the election? Where are investment markets headed? What’s the next hot stock? What changes will the government make to super? And there are many, many more.
Bottom line. Rarely are the answers to those questions going to help you make life-changing financial decisions.
Making investment decisions.
We’re hard-wired to do things against our own self-interest. Likewise, we can’t see our own blind spots.
Like Tiger Woods, those who succeed, follow a proven process and surround themselves with people to help them stay focused and avoid their own blind spots. They block out all the noise. Using the evidence and process to drive decisions, not hearsay or blown up tabloid headlines.
Dr Daniel Crosby, author of The Laws Of Wealth talks about this quite simply. Dr Crosby discusses a reality we must face when it comes to making financial decisions. He talks about a disease which exists for which there is no cure. That disease is our own fear and greed.
The ability to execute the right decisions at the right time in all market conditions. Much like Tiger Woods, executing a put to win an open, all while trying to tame his thoughts and block out the environment around him. Takes discipline and can be the difference between being financially confident or not.
At last count, there were 117 ways you can get it wrong when it comes to financial decisions. One or more can be disastrous to your financial wealth.
And here’s the kicker…
A recent study by HSBC found 79% of Australians aren’t confident they will retire comfortably. Which means only 21% have the confidence to retire comfortably.
And the difference between the two…
While those who have confidence don’t know what the future’s going to hold. After all, there’s no crystal ball. They know by implementing a plan. One where they take decisive action while understanding how to manage their own fear and greed. They are able to course-correct and pivot should they need too.
They know, the alternative, sitting on the fence can be a costly decision.
In a recent study by Russell Investments, shows having a financial planner by your side – a good one, a real one can add significant value to your wealth. More importantly, provide laser-like guidance to bridge the GAP between where you are and where you want to go. Safely and with more confidence. Helping you to navigate your blind spots while helping you walk back off a ledge when you feel like jumping.
Want the blueprint for retiring comfortably and with more confidence? So you can live life on your terms? Schedule a call here to find out more…
I promise we don’t bite. We’re here to help people identify, achieve and keep the lifestyle they want. Some will decide they want some help while others will take the information and make some changes themselves and that’s ok with us.
We believe as someone on the journey to self-fund your retirement.
You DESERVE permission to live a great life.
Your guide in helping you live a great life with more confidence!
Glenn Doherty – CFP – Money Mentor | Taking the stress out of planning your self-funded retirement | Founder of Jigsaw Private Wealth
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Advice Disclaimer: Any reference in this publication to the provision of advice refers to advice of a generic nature, and should not be taken as product or investment recommendations. Before any action is taken based on the information provided, independent financial advice from a licensed financial adviser should be sought. Financial Freedom Project Pty Ltd ATF GA & DC Doherty Family Trust Trading as Jigsaw Private Wealth is a Corporate Authorised Representative of Exelsuper Advice Pty Ltd. The information contained in this publication is of a factual nature only and is not intended to constitute financial product advice. Information is current as at July 2020. This is an online information blog. It does not imply an offering of securities.