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Missed Fortune – Remembering To Touch All The Bases

Posted on | June 3, 2013

 

An Abundant Life Requires More Than Just Money

The great Marshall Thurber used to teach that the vast majority of failures were due to the lack of a system. This is true in virtually every area of our lives. It can apply to how a business is run, how we take care of ourselves physically, or how we manage our money.

In the latter case, SYSTEM can also represent an acronym that stands for Save Your Self Time Energy Money.

Thurber taught about the importance of predictability in ensuring quality results. For instance, if you followed the exact recipe for a given dish, you’d get a perfect result 90-95% of the time.

This same principle can be applied to systems that create predictable wealth.

Most people, who are familiar with finance, tend to focus on creating predictable rates of return and predictable results with their money so they don’t have to worry about their money.

There are a number of ways to accomplish this.

This includes structured cash flows. There is also the option of putting money into a maximum funded insurance contract. During the past 12 years—possibly the worst 12-year period since the Great Depression—people who have done this have enjoyed predictable rates of return at a time that was utter chaos to others.

Many investors saw up to a 40% loss in their savings twice in the past 12 years, first in 2003 and again in 2008..

But those individuals, who used systems that gave them predictable returns, saw their money double and triple during that same 12 years. Most importantly, they did not lose a dime when the economy declined.

Ongoing market volatility is part of a triple whammy that includes higher taxes and rising inflation. But having the right system in place, can produce predictable tax-free returns while building a nest egg that continues to produce tax-free income throughout your retirement.

It all begins with learning the right strategies.

Prosperity Requires Following Certain Rules

On September 23, 1908, in a game against the Chicago Cubs, Fred Merkle of the New York Giants was on first base with Moose McCormick was on third base, with two outs in the bottom of the ninth inning. The score was tied. The next batter singled home McCormick from third base. But Merkle, caught up in the excitement, failed to touch second base and ran to celebrate with his teammates.

The second baseman noticed this, picked up the ball and tagged second base and then appealed to the umpire who called Merkle out. This nullified the run just made by McCormick. In the ensuing chaos, the game was called a tie and the Cubs and Giants had to meet in a playoff game. The Cubs won that game.

Had the giants won that September 23rd game, that playoff would have been unnecessary and the Giants could have won the 1908 World Series that instead ended up being won by the Cubs.

The lesson here is that sometimes in life, we forget to touch all the bases and it can come back to bite us later.

We must keep things in their proper perspective. This is especially true when referring to money. It’s great to to accumulate money predictably and tax-free whether in good times or bad times. But we cannot forget to touch all the bases while doing it.

This means all of the bases like your health, your family, your relationships, and your values. You’ve got to get your intellectual assents, your wisdom, your knowledge, and your experience in alignment as well. It’s also important to touch the base of what you give back to society.

What good is wealth without these other foundational areas? A person will struggle to be truly happy if they don’t remember to touch these bases.

Our knowledge, attitudes, skills and habits contribute greatly to the kind of abundance that we all hope to enjoy.

Getting the right systems in place to enjoy the abundant life, starts by visiting with a wealth architect today.

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

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