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Memorable Words to Live By

“It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction.” That was Warren Buffett’s response to a then-14-year-old California boy, Justin Fong, who asked for advice in how to be successful.

It was a great question with an even greater answer. Years ago, Dads across America put that same concept into these words: “If you hang around with idiots you become an idiot.” No truer words were ever spoken.

Others have coined great phrases too: “If you are the smartest one in the room, you’re in the wrong room,” which Confucius was given credit for. Later, a spinoff made it into the executive forum: “Perhaps the only thing worse than being the smartest person in the room is believing you’re the smartest person in the room.”

Project management’s mantra was taken from Stephen Covey: “Start with the end in mind.”

The late Steve Jobs’ quote adorns cubicles throughout America: ”It doesn’t make sense to hire smart people and tell them what to do. We hire smart people so they can tell us what to do.” Great quote. So let’s get closer to home and closer to what’s important to you.

The Human Touch

It is understood by many in the industry that a robo-adviser—basically, a computer system or an algorithm—has been programmed to do what a human financial advisor does.

Unfortunately, the robo-adviser is not be able to build any type of personal relationship with you, nor will it give you real-world advice based on proven research, it won’t smile and acknowledge, and it certainly won’t ask how your grandkids are. “Start with the end in mind” makes the most sense in the financial advisor vs. robo adviser conversation. Aren’t you often thinking about the “end,” ­like your retirement, healthcare, quality of life, taking care of your spouse, your family, your estate planning, charitable contributions and taxes?

Wouldn’t most people like you need a human and competent partner to be objective and more knowledgeable than any robo-adviser could ever be? 

Enjoy the Present, But Make Time for the Future

“Life is what happens when you’re busy making other plans.” Former Beatle John Lennon used Allen Saunders’ 1957 Readers Digest quote in “Beautiful Boy (Darling Boy),” a song he dedicated to his son, Sean, on the Double Fantasy album.

Lennon was busy making other plans – touring plans – to support the release of the album that many said “reenergized” him.” He signed a copy for the man who later shot him dead in the archway of his New York City residence, The Dakota, on December 8, 1980.

One interpretation was there is a tendency for us to become so future oriented that we somehow forget to enjoy or pay attention to the present. Doesn’t it remind you of that guy at a party who shakes your hand while looking past you to find the next person he’ll meet?

Erin Falconer, contributor, said, “Many of us would like to have a peaceful ride, enjoy the present moment, yet we can’t help but make future plans so we feel secure.”

Wondering About the Future Makes Us Want to Secure It

Having someone whom you can trust and depend on to properly secure your future and your family’s future isn’t a wish or a hope. It is a reality that our advisors manage every day. You shouldn’t worry about what tomorrow will bring. That’s our job. And we know how to do it well.

1. We meet you and get to know you – important steps in the MASTERPLAN® financial planning process. We want to know about your beliefs about life, money, and your personal values to effectively shape the plan that we will ultimately create for you. 

2. We determine and set your goals, priorities and risk tolerance ­– the result of looking at your unique situation, establishing dialogue, asking the right questions, and envisioning the financial plan that best suits your short-and long-term needs.

3. We develop your written plan – this ensures that it will be as unique as your fingerprint. We choose from the best world-class money managers and securities without the conflicts of interest or restrictions involved with propriety products found at other firms.

4. We implement your plan – we take care to be completely objective in managing your investments. Because the MASTERPLAN® financial planning process is a personal investment in who you are as an investor and as a person, it’s likely to evolve with you, and as new considerations arise. We plan and adjust as situations change.

Quoting Hefren-Tillotson Vice Chairman Craig Tillotson: “Everyone should have a master plan.”

Contact us at Hefren-Tillotson today to learn more about the MASTERPLAN® approach.

DISCLAIMER: Past performance does not predict future results. This report is based on data obtained from sources we believe to be reliable. Hefren-Tillotson does not, nor any other party, guarantee the accuracy or completeness of this report or make any warranties regarding results obtained from its usage. All opinions and estimates included in this report constitute the firms judgment as of the date of this report and are subject to change without notice. This report is for informational purposes only and is not intended as an offer or solicitation to buy or sell the securities herein mentioned.

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