Playing a Practice Round in Golf is like a Periodic Review of your Financial Plan
Hey guys Douglass Ergood here, I am former division one golfer at The University of North Carolina and now I am a Financial Advisor with Ergood Wealth Management at Janney. Welcome back to teeing up your finances! Before I went to UNC I played in some big tournaments as a junior golfer, but I never understood the real importance of a practice round. It wasn’t until I spent a semester as a Tar Heel did, I realize how important playing a practice round was for my feeling of preparedness come tournament day. During a practice round I learned to figure out which holes I could be more aggressive off the tee, and I learned where to be more conservative. I also learned places I could miss the ball hitting an approach shot and where I didn’t want to miss. These details made the decision-making process on the golf course so much easier and efficient on tournament day. Like a practice round, periodically reviewing your portfolio before retirement will help you build conviction about your retirement plan. You will learn where you want to take risk and where you want to be more conservative. You will learn where you are doing well and where there might be areas of improvement in your planning. These reviews will help you feel more prepared come your retirement day. If you haven’t had a retirement plan done for you; we’d love to start the conversation and see if we can help you meet your retirement goals. If you have a plan already and need someone to review it for you, we’d be happy to be another set of eyes for you to help you feel confident about your plan.