Turning Back The Clock.

The nights are drawing in and it’s that time of the year when the clocks are about to go back. When we reflect on some of our financial choices, maybe turning back the clock is something some of us wish we could do?

Look, let’s be honest, everybody has made ‘bad’ choices at some point, and financial choices are no exception. Most people have made at least one mistake or two, if not dozens. Someone who has never made a mistake has never made a decision.

How many of us have bought something we later wish we hadn’t? Or acting in a panic sold our investments, only to see a short time later the values rise, and we missed out?

But regret can freeze us to the spot and stop us taking decisions which could make a better future worth living. We can either look back and see a binary choice between winning and losing or we could exercise our power to choose a more resourceful state and see winning and learning instead.

So, how do we learn?

Even though it is sometimes expensive, experiences can be a good teacher. After all, how many times do we want to be enticed by clickbait apocalyptic headlines dredged up – or at a pinch, dreamed up – by financial ‘journalists’ before we learn that the unfounded anxiety it creates hooks us into decisions that blow a hole in our carefully crafted, goal-focused investment portfolios? Or, perhaps you find yourself in debt and are struggling to see a way out of it; or you’ve invested in a property deal that went south and has stopped you from moving forward.

A less expensive option than some experiences can be to profit from some outside perspective to see new distinctions and make more accurate choices. Everyone who has ever received good coaching and guidance can testify to the new confidence that they are not doomed by their past and things can really change. To borrow from Jim Rohn, it is indeed, “a small journey to a new direction.”

One of the biggest hindrances to seeking out the perspective of another is, of course, trust. Who do we share such personal things with? Will we be judged? We might feel a sense of embarrassment or shame. If this is you, you’re not alone. The only sustainable basis for a lastingly successful planner and client relationship is indeed perfect mutual trust. I earn my clients’ trust by telling the pure undiluted and unvarnished truth all the time.

Making the right choices depends on having a trusted adviser create a written plan aligned with what matters most to you and by which all financial decisions are given direction and even meaning. Doesn’t have to be complicated, necessarily. Often isn’t.

When you’re not reacting to ‘noise’ and are instead acting on a plan like this, confidence comes flooding back. Rather than yearning to turn back the clock, you draw a line in the sand and start dreaming of what things will look like going forward. You see, there is nothing more satisfying than knowing that your future is full of hope based on clear expectations, as old habits are replaced by new habits to make it all happen.

What could be the first new habit to install? How about receiving your personal “GL Passport” regularly reviewed at GL Integrity as the first step in a new direction? You can find out more here.

So, when it comes to turning back the clock this weekend, by all means, go ahead.

But also learn from your ‘mistakes’ by doing what you can today, to look forward to a more positive tomorrow.

“I must govern the clock, not be governed by it.” – Golda Meir

Andrew Stinchcomb
Lead Navigator
Certified Financial Planner™ professional
Chartered Wealth Manager™

Investors should remember that the value of investments, and the income from them, can go down as well as up. This update has been produced for information purposes only and isn’t intended to constitute financial advice; investments referred to may not be suitable for everyone.

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