If I Could Teach My Kids One Thing About Investing, It Would Be…

 

 I’ve always taught my kids the importance of efficiency. It applies to life, work, and two of my passions in life — fishing and investing. Efficiency isn’t just about being effective or competent at what you do; it’s about eliminating waste, maximizing your resources, and making the most of what you have. By saving what others may waste, I believe you can find success. As Vince Lombardy said, “The measure of who we are is what we do with what we have.”

 

 Efficiency Does Not Mean Taking Shortcuts

Being efficient doesn’t mean cutting corners. Particularly in the world of investing, too many people and companies are obsessed with finding shortcuts to success. I instead adhere to an approach that is firmly grounded in evidence, research, and proven results. It’s about working smarter. Rather than speculate or chase the markets, I believe markets are efficient, and academic research guides my investment decisions. In life you can choose to find the easy way out, which likely won’t lead to success, or you can find opportunities to be more efficient with your time, costs, and strategies, whether you’re building your portfolio or trolling for tuna. 

Maximize Your Time and Resources

Investing is an ideal way to maximize what you have and, as a result, be more efficient with your money. By implementing certain strategies and cutting back on fees, you can make the most of your hard-earned wealth. In fishing, maximizing your time and resources is everything. You have to prepare your boat and gear ahead of time to avoid potential problems during prime fishing time. Are your electronics working properly? Have you studied ocean surface temperature maps? Is your gear maintained and properly rigged, and do you have enough bait? By preparing ahead of time, you can maximize your time on the water and (hopefully) catch more fish.

Save Where You Can

We live in a world with finite resources. There are only so many fish in the sea, which is why there are fishing regulations in place to assist with preservation. It’s important that we respect our resources and be efficient with what we have. The same can be said about wealth and investing. Save where other people would waste, whether it amounts to thousands of dollars or a few pennies. By finding opportunities for lowering investment costs, legally mitigating taxes, and preserving what you’ve worked hard to build, you can maximize your wealth. 

If I could teach my kids — and all of my clients, for that matter — one thing about investing, it would be the power of efficiency. Go beyond the standard definitions and see efficiency as a way for you to make the most of what you have and to stretch your resources. You’d be amazed at how much you can preserve when you avoid waste. If you’re interested in learning more about my investment philosophy and how you can keep more of your hard-earned money for yourself, let’s set a time to get together. Call our office at 949-481-1807.

Meet Rick

Over a 25-year career in financial services, Rick has helped hundreds of business and personal clients meet their investment goals by developing risk-efficient portfolio management strategies. He holds degrees in Economics and Psychology from the University of California, Irvine.

The water is Rick's second home: He and his family have been fishing Southern California and Baja going on four generations. In the 1940s, his grandmother worked at the Cannery Restaurant in Newport Beach—when it was an actual Albacore cannery. In the early 1960s, his father was on the crew that built two of the boats still in service at Dana Wharf Sportfishing.

To schedule a complimentary wealth consultation or to get a second opinion on your financial plan, contact Sportfishing Financial today. To learn more about Rick, visit his website and connect with him on Facebook. To ask a question or get our list of upcoming fishing trips, call 949-481-1807.