My little baby is turning four years old.
Now that she’s a “big” girl she wanted her first big party which we threw a few days ago. There was a magic show and disco and of course no real party is complete without the CAKE!
Amara is very lucky as she has a special friendship with Sophie the baker. Sophie is the Mum of one her friend’s and an expert cake maker. With Amara’s first ever birthday party coming up Sophie offered her services.
For months during the school pickup Sophie and Amara have been planning and “customizing” the cake. First they came up with a fairy themed cake - they went through several designs: purple fairies, pink fairies, fairy tree house, fairy garden etc.
A few weeks into planning, Amara went with her sister to watch the new My Little Pony movie. The fairies were quickly dumped and their strategy shifted. She couldn’t decide between a pony cake and a unicorn cake, so Sophie gave her both. Amara was very specific about the colours she wanted - pink, purple, turquoise AND lots of sprinkles.
It would be nice if investing worked like this. You start out not knowing what you want, then keep changing your mind but end up with a beautiful portfolio. Unfortunately the unicorn horn on the cake is a give away. Unicorns are imaginary, so that wish is not based in reality.
Wealth managers and Investment advisors are a tough breed as they have to deal with clients:
- Not knowing what they want
- Not understanding how investing works
- Having unrealistic expectations
- Changing their minds
Even if you find yourself a fantastic Sophie the baker like investment advisor, you need to know what you want and understand what’s achievable in order for them to give you accurate guidance. Otherwise you’re not getting the best out of them.
Also they’re much too polite to tell you need to spend time educating yourself - they can’t hold your hand all the time. They leave that to investing rebels/ outcasts like me. I personally have a mission to help people understand the world of investing better. That way they can get more accurate guidance.
Its exhausting being buffeted by the latest article in the Wall Street Journal or investing fad. Take a minute to think about what you would really like your investing life to look like. Pretty please with sprinkles on top.