How To Create Investing Efficiency Show 52


Hello,
During one of my in-person workshop presentations, I show the picture of myself below. It was my sixth birthday, and I had just been given a new bicycle. If you notice, I’m standing in an office. That was my dad’s office at his financial services firm in Kannapolis, NC. I spent a lot of time there as a kid.
One reason I was there is he had what felt like a huge parking lot, and I loved riding my bike around the parking lot! As I got a little older, my parents allowed me to ride my bike in the adjacent neighborhood, and I’d ride for hours.
As I got to high school and ball sports took up my extra time, I quit riding my bicycle. When ball sports were no longer an option, I took up mountain biking. Being the competitive person that I am, I found a weekly race to go to in the Charlotte area, but I kept getting dusted. So, I started talking to some of the guys who were winning the mountain bike races.
They told me they trained on a road bike and built their endurance up. Mountain biking is a skill set. Figuring out how to traverse the rocks, creeks, and trees, amongst other things, but the guy who had the best aerobic endurance fared better. He didn’t get as winded.
I bought a cheap road bike and started riding. I liked riding on the road so much that I quit mountain biking. Of course, this evolved into competition too. The way I grew my ability is I went to an 8:00 Saturday morning group ride. Twenty to thirty riders showed up, and it was a weekly competition of trying to see who could leave the other riders in the dust. I’m pictured below in a mountain bike race.
Halfway into the ride there was a huge hill. I normally popped going up the hill and got left behind. One day, one of the guys gave me a tip. He said find one person that you know will make it over the hill.
Get right behind him and focus on his back wheel, and don’t lose his back wheel. Of course, my legs felt like they had their own audible voice the first couple times I tried this, but sure enough it worked. I felt so accomplished the first time I made it over and was descending the backside of the hill.
I started racing road bikes in Virginia, North Carolina and South Carolina and I got pretty competitive. I was one race result away from being categorized a semi-pro cyclist. But then life moved on and started doing other things.
Since that time, I’ve bought a bike and tried to get back into riding it but I never had the extra 10 to 15 hours a week it takes to be in shape to race. I had a hard time being content with not having as good of fitness. This is a lot like investing. I’m pictured below winning a race!
Many people have experienced amazing stock market returns over the last decade. It becomes addictive. A lot like always becoming more competitive on the bicycle, but life changes. Our circumstances change and we need to change our mentality.
Ten years ago, you were younger and may have still been working. You could afford to have more risky allocations, but when you are retired, you’re typically no longer categorized as a long-term investor.
You may need your money sooner rather than later. It makes sense to begin taking some risk out of your equation if you can’t wait for your money to come in a stock market correction.
I’ve had my eye on a single speed basic bike. It has one gear and is made for cruising around, nothing too serious. I found a shop in Shelby, NC, that had one and last Saturday we drove up there to buy it.
When Mallory and I went on our first date, we met in Shelby. It was about halfway between where we were both living. So, we had lunch at the pizza restaurant where we met the first time. Enough with the sap! Back to the bike analogy.
With a single speed bike there is little that can go wrong with it. Even an inept mechanic like myself can work on it. As we age, it makes sense to begin simplifying our financial plan and having a quarterback that can help you oversee what you have going on. It’s no secret that if we live long enough, we won’t always be as mentally sharp as we are today.
In today’s world, it’s not uncommon to have several jobs in our careers. At each of those employers people will commonly begin a new retirement plan. It’s important to have your accounts working in harmony to create your masterpiece financial plan.
When you’re ready to learn more about how we work with folks, just reply to this email or call our office at 864.641.7955.
Until next week,
David C. Treece,
Financial Advisor
PS: Amelia, my daughter, and I pictured below with my new single speed bicycle.
Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel.

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