Mar 05

Part 1: A Coach Can Take You Farther!

by Geoff Wells

No matter how good a swimmer Michael Phelps was, he would have never reached his level of success without a patient and willing coach like Bob Bowman.  The coach-athlete interaction, which includes accountability, camaraderie and hard work, pays off in all aspect of sports.  No one would question that Syracuse University’s basketball success was in large part due to Jim Boeheim!

The benefits of coaching can be easily translated into financial planning.

Goal Setting – Goal setting is an art and a financial planner can help focus the goals to create a tailored individual plan.  All too often, people set their financial savings goals far below their retirement needs.  By identifying an achievable savings goal, an advisor can illuminate the correct path for every client.

Accountability – Stephen Covey’s famous quote “Accountability breeds response-ability” rings true in financial planning.   By interacting with a financial advisor, the thought of saving is always at the forefront of your mind; creating a favorable saving response.  The adherence to a saving habit increases greatly by just reviewing the past, talking about the present, and planning for the future.

Focus on Items that Matter – It is human nature to tinker and try to improve oneself.  It happens in golf when elite athletes disassemble their swings in pursuit of perfection.  It also happens when saving for retirement.  By utilizing the optimal mix of available investment vehicles, (401k, IRA, Roth IRA, brokerage accounts, CDs, etc.) a financial planner will add significant value to the final retirement picture.

Coaching applies to a much broader spectrum of life than just athletics, so consider adding a financial coach to your life!

Return to “Why Do I Need a Financial Advisor?”

About the Author

Geoff Wells is a Certified Financial Planner at Rockbridge Investment Management. “My interest in financial planning grew from assisting friends and coworkers with their retirement plans. Over time, I developed a knack for simplifying overly complex financial topics. After several years into my aerospace career, I knew that helping people with their personal finances was my professional calling. I feel extremely fortunate to have joined Rockbridge with its fee-only advisory model and remarkable team approach to financial planning.” Geoff is a graduate of the CERTIFIED FINANCIAL PLANNER™ Certification, Ohio State University Finance (M.S.) and MBA, Kelley School of Business, Indiana University, with a Mechanical Engineering (B.S.), University at Buffalo.
Learn more and/or Contact Geoff

You Might Also Like

Other articles filed under Family Finances

The Devil’s Financial Dictionary

November 25, 2015
There is an endless amount of terminology that surrounds the finance and investment industries. It can certainly be confusing to the average investor, and may be responsible for some uncertainty when it comes to how to invest and which advisor...
Continue Reading

Surprising New Changes To Social Security

November 20, 2015
Recently, Congress included surprising Social Security rule changes in the 2016 budget legislation.  The bill has now become law and the updated rules will become permanent over a phase-in time period.  We wanted to reach out to all of our...
Continue Reading

Three Ways to Curb Holiday Spending

November 16, 2015
The holidays are right around the corner, and it’s time to start thinking about gift shopping, parties, and all the other spending that goes along with them. It’s nothing new that the holidays are expensive. However, it is important to...
Continue Reading

A Look Into The Recent Social Security Changes

November 3, 2015
Last week, Congress passed their “Bipartisan Budget Act of 2015.” Among the typical budgetary items, there are a few alterations that will impact the Social Security benefit filing system. Anyone who turns 62 in 2016 or later will no longer...
Continue Reading

Is Your Smartphone Making You a Not-So-Smart Investor?

November 2, 2015
In this recent WSJ article, they talk about the how smart phone "investment apps" are causing investors to react to short-term market swings and abandoning their long-term established financial plans. Behavioral economists call this tendency, "myopic loss aversion"- and it can...
Continue Reading

‹ Back to Blog Home

getting started is simple

315.671.0588 Schedule a meeting Sign Up for Our Newsletter