GUEST COLUMN: Rethinking uncertainty
By Jason F. Sauer, Sr. Wealth Advisor, Miller Private Wealth LLC
Miller Private Wealth proudly carries the tagline ‘Live Bravely Invest Boldly™’, because we do not believe in the alternatives.
As we roll into the fall of 2020, we find ourselves navigating a multitude of uncertainties, 1) the election, 2) finding ways to limit the spread of the coronavirus, 3) figuring out a way to get our economy back on its feet. As these uncertainties seek to overwhelm us, we have to remain unemotionally committed to meeting our financial goals.
While finishing a banner year of market returns in December 2019, as a firm, we began thinking of ways to communicate confidence to you as an investor. We wanted to encourage cautiousness yet in a brave way as you approach and live in retirement. Braveness is important not only in regard to investing strategies, but also in planning and living in a world full of uncertainties. The reason is as simple as the price of groceries. There are few places to allocate capital that can keep up with the effects of inflation long term. We believe that carefully allocating capital to the stock market is one place that is meaningful in helping to sustain or improve the retirement lifestyle investors have worked so hard to plan for and achieve.
When so many wealth management companies are throwing in the towel, we find ourselves uniquely positioned to grab the market bull by its horns. In my years of serving in the military, I learned that taking bold, yet prudent action returned the best results. I’m proud to say that our firm employs that wisdom and hope that your financial advisor does the same.
We want our lives to have purpose and this is a concern that comes to light when discussing retirement with clients. One revelation we see as advisors is how prevalent it is that often careers define our purpose in life. Even if one looks forward to the day the paychecks stop, we still need that feeling of value and productivity. People search for and find it in many ways, hopefully in a positive environment. This is part of living bravely and this is an important aspect of defining a purposeful life.
How does this relate to investing? The motivation in our life for goals or achievement has a direct correlation to investing for our future. If you are a person who believes that everything you have will be gone any minute so you spend for today, you will invest the same way and not accumulate enough assets for your retirement or other goals. If you are person who believes that you will live long into retirement and want to continue the lifestyle you have grown to enjoy after the workplace paycheck is gone, you will invest for the future and create a living cashflow for that retirement future.
The bottom line is the more fearful we are of change, the more opportunity for regret. We will miss opportunities to develop meaningful relationships and amazing experiences. I have met so many people in Jenks that are rich in character, honorable in their intention and courageous in their faith for this part of our world. That is bravery in action.
We encourage everyone to have respect on their minds and love in their hearts, because that is the true accumulation of wealth.