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05/10/2010

“Who Says?”

MAY 2010 INSIGHTS

…from the desk of Brian Carden, Financial Advisor

           It’s amazing to me how people can believe the things that they do with no basis of fact other than their own opinions.  With football season only a couple of months away, I am reminded of one of my favorite actions on an NFL football field.  That’s when Jeff Fisher sees a bad call from one of the officials and throws the infamous red flag.  In a kind and legal way, he’s calling “Bull Hockey” (with references to Col. Potter on MASH) on the official’s ruling.  (I don’t think my compliance officer who reviews and approves all of my writings would allow me to say what I would like in this instance anyway…)

           I carry a pocket full of imaginary “BH flags” with me on a regular basis.  Usually they get thrown when I see Sam Waterston on a Sunday ad telling you how successful you can be by investing on your own with the firm that pays him well to read those cue cards…or when I see people walking around during the ad with a big number in their hands.  If I was to waste my time by listening to the “financial entertainers” on the airwaves, this city would quickly be out of red fabric in a matter of days.  I also throw them in my own office when reviewing the financial documents of potential planning clients.  They thought they had a financial advisor, but in fact had some policies and a few statements that had no relevance to what was important to them. 

           One of my favorite quotes is from John F. Kennedy, when he said "The great enemy of the truth is very often not the lie--deliberate, contrived and dishonest--but the myth--persistent, persuasive and unrealistic."  Financial myths are abundant…they can be so easily disguised behind a spokesperson, financial entertainer, or even more scary, a product peddler acting like an advisor.

           So who says?

• You will retire in a lower tax bracket!
• You will get a double digit return in stock mutual funds over your lifetime!
• You will retire from your chosen career on your terms!
• You paying off your house early is a good financial decision!
• You buying term insurance your entire life is in the best interests of your loved ones!
• You maximum funding your 401(k) is the best financial decision you can make!
• You not having a properly drafted and executed will makes any sense whatsoever!   
• The government will take care of you when you get sick and elderly!

           Well, guess what?  To everything above, I throw my plethora of “BH flags”…my myriad of symbols saying that everything that is above is a “financial myth”.  The fundamental difference between me and all of the “financial entertainers” and other posers out there is that I CAN PROVE THAT THEY ARE WRONG!!!!  Not only can I prove it, I can validate why these “financial myths” can absolutely destroy all of those values that we would have discovered together during our first meeting.  Whew…I’m tired…enough ranting for this month…the Starbucks latte is on the table…waiting for you to hit the email button & take me up on my offer.

Best,

Brian
brian_carden@peachtreeplanning.com

Posted by Brian Carden at 11:04:00 AM in Financial

Past Editions

• In Search of Guarantees
• It's Going to be a Groundhog Year
• Are you Wishing...or Wanting?
• Memories of the Sears Wish Book
• Thanksgiving Memories from my Soul
• You Are Here
• OK What Am I Supposed To Do Now?
• Walking Case Studies, July 2011
• R.E.S.P.E.C.T. June 2011
• OK Now I'm Really Scared, August 2011
• It's All Greek to Me! May 2011
• Really?...Are You Kidding Me!
• What I've Learned from 1983-2011…A Perspective
• The Revised Bucket List
• Trusting in the Holidays
• Walking Down Gene Carden's Road
• The DaVinci Code & Financial Planning
• It's Time
• Use, Enjoyment & Control
• You Really Don't Know What I Do
• Exit Ramps
• Hardware or Software?
• Who Says?
• Backstops
• Recapture and Redeploy
• My View on the World
• Deus Ex Machina
• The Bank Called You

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