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The Best Coach
My Latest
The Best Coach
30,000 Foot View
A Money Question
My Latest
My latest is a repeat because it is valuable and relevant to you.
It is a video I shared a few weeks ago on how to review a tax return:
A few simple steps you can take to ensure you:
Understand what is going on
Get smarter with your money
Make sure you are not tipping the IRS
You can check it out here ⬇️⬇️⬇️
The Best Coach
“You are your own best coach.”
A phrase repeated to me over and over again during my professional baseball career.
You see, the idea is this:
By that time, I had been pitching for more than 15 years, thrown thousands of pitches, and seemingly experienced every situation that comes with competing.
Said another way ~ No one was going to know my situation better than me.
Yet there I was in the middle of an outing, the game speeding up, and the thing that saved the outing was my coach.
No, not the “me as my own best coach” but rather someone whose heart wasn’t racing in the moment with the bases loaded and the best hitter coming up.
It was someone who had been watching from “30,000 feet,” or in my case, the bench.
A simple conversation on the mound resulted in me resetting, honing in on the work, and blocking out the noise.
You see, I knew what to do, but executing in that moment meant combating human emotion as much as anything else.
Today I want to talk about the role of emotion and why having an unemotional sounding board can be the key to long-term wealth.
Let’s dive in…
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30,000 Foot View
I am going to be the example for today’s episode.
You see, when it comes to money, my curiosity has led me to try to understand strategies, emotions, and decision-making over the past several decades.
Yet this week, I was on the verge of an emotional decision around my money.
Now you might be thinking it was around the markets and tariffs.
No, it had nothing to do with the market.
It was around a big purchase that I had some built-up emotion around.
No matter how hard I thought about the next move, I couldn’t get clarity.
I literally told Kristin (my wife), “I feel like I always know what to do, but I have no idea what to do.”
My emotions were hindering my decision-making.
So what did I do?
I went to my financial advisor.
For those that don’t know, that is my brother/business partner Luke.
He knows me inside and out.
He knows how I think about things.
He knows my financial situation and goals.
So I called him and said, “Here is the situation, what should I do?”
We talked for 30 minutes about it, and he gave me an unemotional, 30,000-foot perspective on the entire situation.
I walked away with clarity.
I walked away knowing to do.
I walked away with a decision in hand.
Now look, when it came to this money move, no spreadsheet could have given me this perspective because it was a distinctly human one (not a spreadsheet one).
So yes, me, who spends all day advising clients on their money moves ~ does the same thing when it comes to my money.
I have other people help advise me.
Why?
Money is emotional.
I need someone who can advise without my biases.
I need someone who can advise without my emotions.
I need someone who can advise me around my blind spots.
You see, here is the thing about building wealth that no one talks about.
Everyone is quick to share how compounding works.
You build wealth, and it compounds quicker.
10% return of $1,000 = $100
10% return of $10,000 = $1,000
10% return of $100,000 = $10,000
You get the picture…
What no one tells you is that the same compounding works in the opposite direction.
That $1,000 decision turns into a $10,000 decision.
That $10,000 investment turns into a $100,000 investment.
The net effect of one bad decision grows exponentially.
This is why a lot of the clients we work with hire Moment.
It isn’t because they don’t know what to do.
In fact, I would argue our client base is smarter with money than nearly any other advisory firm.
They often know what to do but are smart enough to know they sometimes need someone detached from their situation.
Someone who knows everything but doesn’t have the emotional biases they have.
So my friends, while I can “best my own best coach” in certain situations.
Other times I need someone observing from 30,000 feet.
Turns out there is less emotion up there!
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Ok, so here is my challenge to you.
You can read this newsletter, and that is great.
Yet if you take no action on it, it is a meaningless habit.
So consider action items today to make this worthwhile.
Ask yourself, who is your money coach when emotions run high?
That can be a professional team (like Moment) or a trusted friend.
If you think our team might be a fit, you can schedule an intro call here.
Until next time, my friends!
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A Money Question (Not Really)
Who wins the Masters today?
I think Rory conquers his demons and finds a way to get it done!
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3 Ways I Can Help You
💰 Schedule an introductory call with Moment. We help athletes, entrepreneurs, and key employees build and protect wealth.
📹 Check out my YouTube channel. A safe place to get smarter with your money.
📷 Interact with me on Instagram. Where I provide bite-sized daily content to level up your money game.
Moment Private Wealth, LLC is a Registered Investment Advisor, located in the State of Missouri. Moment Private Wealth provides investment advisory and related services for clients nationally. Moment Private Wealth will maintain all applicable registrations and licenses as required by the various states in which Moment Private Wealth conducts business, as applicable. Moment Private Wealth renders individualized responses to persons in a particular state only after complying with all regulatory requirements, or under an applicable state exemption or exclusion. Nothing in this content is intended to be, and you should not consider anything in this content to be, investment, accounting, tax, or legal advice.