This past week I was invited by my accountants Steve and Mark (we all need a great accountant on our side) to a hockey game. It was fun being in the box, eating chicken wings and other totally unhealthy food choices for one evening, not to mention the hockey game was pretty good also. I had the opportunity of chatting with a number of professional money managers.
Over this past while, I have begun to be a fan of bank stocks. Over the past 10 years, the average rate of return on bank stocks has been 15%, and they pay a dividend. A friend of our family was very senior with one of the banks. His word of advice; don’t keep your money in the bank, keep it in the banks’ stock!
No, I am not shifting to becoming a financial planner, however, there are many parallels to getting a good return on your career investment. The key with investing your hard earned money is to act, not react.
Ever gotten a hot stock recommendation? Did you react? How much is that money worth now? That is my point. When we react to the market vs. act, we tend to make poorer financial decisions. Think Nortel, BreX etc. Ever got a hot career "tip" or call out of the blue by a recruiter? Did you react or act?
React: to return an impulse or impression
Act: the process of doing something
When we act with our investments, we have a plan and are taking action with our money. It usually involves a process and a clear sense of why we are investing, what we are investing in, and all the risks and upsides. When we react, we are responding to outside forces often without a process, a plan, and a clear sense of what we want and often out of emotion and momentum.
Over 50% of professionals have a financial planner. Why? Because it is wise. They provide a process, expertise, and ideally are not emotionally tied to the outcome. The other reason, the industry has done a terrific job marketing and delivering value to their clients.
The average professional will earn $3 million dollars in their career. What is your career game plan? With a plan, you reduce reaction to outside forces, you increase your likelihood of great decisions and, quite frankly, it puts you much more in control! Am I persuading you to seek me out to create a plan with you? Absolutely! However, I am doing this because I have seen the results of a well thought out career plan. It makes all the difference in the world to book a consultation. Simply visit us online at www.careerjoy.com.
Along the road with you,