Hujambo! (Hello in Swahili)
The start of a new year always brings a sense of fresh beginnings; but it can also be a time of shear exhaustion as we all recover from the holiday season. This “fatigue” may be amplified if you are one of the 6.4 million
Americans who travelled by plane over the holiday season, I certainly was one of them! Fresh off of Mt. Kilimanjaro in Tanzania, Africa, I know all too well the woes of plane travel!
Travel of any kind has its ups and downs; and while, statistically speaking, there are technically more ups than downs, it is the downs that tend to weigh more heavily on our memories. According to the US Department of Transportation, there were 4.8 million flights in the United States between January and October of 2017; of those, 900,000 flights were delayed and another 76,000 were cancelled. This means that approximately one in five flights didn’t depart as planned. I think I was on every one-in-five!
Have you ever noticed that travel disruptions force people into a few different categories? First, you’ve got the “hot-head.” This is the person who is convinced the airline has specifically targeted them in a vicious attempt to ruin their life, and they will (loudly) make sure everyone around them knows it! While this person may be entertaining to watch, you also can’t help but feel embarrassed for them. Ultimately, no matter how hard they kick and scream, they fail to recognize that circumstances are out of their control, and their energy would be better spent pursuing a plan B (or C, or D).
Next up on the list, are the “patient passengers.” Nothing seems to rattle these people! They are patient almost to a point of apathy, and the word proactive isn’t in their vocabulary. Delays? Reroutes? Cancelations? Sunk Costs? These people just sit back and take whatever the airline throws their way. In fact, some of them may throw in the towel altogether, returning home and thinking twice before booking any future flight.
Last, but certainly not least there are the “savvy travelers.” The “Hot Heads” and the “Patient Passengers” watch these people in awe as they expertly dodge the crowds, whizzing by the rest of the amatuer travellers, leaving only the sounds of their TUMI four-wheel spinner luggage behind. With the first sign of travel distress, they are on their way to the nearest airline club lounge, phone in hand, being rebooked on the next best option. They channel all of their energy and resources on adaptation and waste little on the frustration. (These peeps are my TRIBE.)
If you think about it, planning for travel is not unlike planning for your financial future. In both instances, you are trying to accomplish a goal of getting from point A to point B in the smoothest manner possible.
Additionally, both have an element of the unknown, because there are several factors that are just simply outside of any one person’s reasonable control. Sometimes no matter how much time and effort has gone in to planning, the unexpected becomes reality, and you must adapt or risk being left behind.
Who’s your trusted travel agent on your financial journey? Your advisor may not be able to turn you into the savviest of investors overnight, but finding one that has the knowledge, resources, and experience to help you adapt when necessary is key to getting to your destination. Minimizing the disruptions to your plan and the impact when something unforeseen does happen should be top on their “to-do” lists.
•Equities (both US stocks and International stocks) continue to present stable leadership trends above other asset classes, such as Fixed Income or Commodities.
•Specifically, Large Cap Growth Stocks and Technology Stocks are leading the pack.
•As the major market indexes continue to push higher into uncharted territory, discuss different ideas for “trip” insurance, to help protect us against the unknown.