Three Financial Lessons from the Super Bowl

Changing your mind, taking risks, and having an extra chance and knowledge makes a difference.

1. Changing Your Mind: If you watched the Super Bowl, you likely saw the NFL's best offensive player, Christian McCaffrey, successfully run the ball during the opening drive; however, after a rare fumble, you also saw much less of him. This is a clear example of why changing your identity from a running team to a passing team due to one mistake is an error. It's equivalent to panicking and changing your portfolio to be more conservative after the stock market crashes. Remember, fear leads to panic, and panic leads to regrettable financial decisions.

2. Taking Risks: Success on the field requires taking calculated risks and chances. This is evident in the fourth-down calls made by both the 49ers and the Chiefs during the game. There's rarely a reward without risk, especially when it comes to long-term investing. However, this doesn't mean you should go for it on every fourth down with your portfolio. Instead, take risks based on your tolerance and wealth, remembering that the wealthier you are, the more you have to lose.

3. Extra Chance and Knowledge: In overtime, the 49ers elected to receive the ball first, essentially giving the Chiefs two advantages: Firstly, they knew exactly what they needed to do to win, lose, or continue the game in a tie. Secondly, they had an extra down. Since the 49ers scored a field goal on their opening drive, the Chiefs were forced to go for it on their fourth down, as punting would have resulted in a loss. From a financial planning perspective, knowing exactly what you need to achieve your financial goals is critical, especially when nearing retirement. This is where working one extra year might significantly improve your retirement outlook by continuing to add to your Social Security, maintaining your work-related health insurance, and reducing your reliance on retirement assets

If you are looking for a financial planner to help you create a financial game plan that works, then schedule a free introductory meeting below. For less than $5/day, Walk You To Wealth is the most affordable way to access professional help.

Free Intro For Individuals

Book Now

Disclaimer: The information in this post is provided for your convenience only and is not intended to be treated as financial, investment, tax, or other advice. The information is intended to be educational and is not tailored to the investment needs of any specific individual.  It is also not intended to be relied upon as a forecast and is not an offer or solicitation to buy or sell any securities or to adopt any investment strategy.  The opinions expressed are those of the author.  Reliance upon the guidance and information in this presentation is at the sole discretion of the individual.