Everyone has their own unique take on financial goals and values. We asked the Roundtable to share their own personal financial mottos that they like to share with their clients.
Jim Sandager
Senior Vice President, Financial Advisor
“It is important that we make smart financial decisions to pursue our desired results. We have all made good decisions and bad decisions in our lives. As we age, we don’t have time to recover from bad financial decisions. Fear of losing money or excessive optimism can lead to a bad financial decision. The answer is focusing on financial goals. By focusing on long term outcome instead of short term market activity, you increase your probability of success. So, understanding your goals and values is the critical element to help you make better decisions and to strive for more predictable results.”
Kate Maier
Senior Financial Planner
“I always try to look long-term. I’m therefore more likely to buy something that has long-term efficiency and overall savings than just going for a one-time use thing, and I only upgrade things when they need to be upgraded, not just because there’s a newer model out. That also means sometimes spending more upfront with the idea that I’ll have to replace things less often, creating overall savings. Invest in things, don’t just spend. At the same time, though, you have to know when it’s worth it to splurge every now and then (assuming you can afford to). If you constantly deprive yourself for the good of the long term you’re more likely to eventually give up because it takes so long to see the benefits.”
Mark Ledson
Vice President, Sales & Practice Development
“It is important that we make smart financial decisions that target our desired results. However, one thing that I have observed is that many financial decisions are made based on negative emotions – fear and greed. This is a formula for wealth destroying behavior. A few advisors care enough to understand your goals. However, sometimes people set goals because it is the right thing to do. Understanding our client’s values and goals is the critical element to help us make better decisions to strive for optimal results.”
Peg Chromy Webb
Senior Vice President, Financial Advisor & Host of the “Your Money” Radio Show
“Life is short. Live for today while saving for tomorrow. Have a plan and work the plan with determination.”
Kevin J. Meehan
Regional President – Chicago
“Focus on what you control. You control what you save and what you spend. The key to financial independence is to control both long term. What you don’t control is the markets. Pay less attention to the market trends and all your attention to your saving and spending patterns and you will be able to pursue your desired success.”
Dustin Smith
Vice President, Wealth Counselor
“Don’t buy stuff you can’t afford.”
Andrew Thelander
Vice President, Financial Advisor
“Focus on what you can control. There are so many factors that can affect the stock market, so I prefer to have clients focus on what they can control such as how much they spend, how much they save, when they retire, when they start Social Security, etc. and we try to mitigate all of those other uncertainties with a well-diversified investment portfolio and sound financial planning that involves their individual needs, values and goals.”
There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.
Amanda Steinle
Financial Consultant
“Start early and plan for the worst to achieve the absolute best.”
Erik Severson
Vice President, Financial Advisor
“When considering how to increase the chances of achieving a long term investment goal, a famous quote from Albert Einstein comes to mind, “Compound interest is the eighth wonder of the world. He who understands it, earns it…he who doesn’t…pays it.” The meaning behind this quote is to pay yourself first, starting investment contributions early in life and having as little outstanding interest bearing debt as possible.”
Jennie Boland
Vice President, Financial Advisor
“It is important for me to take care of my family. Leading by example by being charitable and living within my means, while also providing my children with activities and experiences where they can learn and grow into independent adults.”