What do you think would happen if most people spent as much time planning for retirement and investing each year as they did watching football? I suspect we would all have a lot more money, be better prepared for retirement, and maybe even be able to buy Super Bowl tickets every year.
Steve Roberts, with nearly twenty years of experience in the financial industry, knows that most people – including himself – prefer to play or watch football rather than the stock market. After all, Steve himself was a three sports literate in high school, lettering in soccer, basketball, and baseball. He was a member of the Ricks Junior College football team and is now a youth football coach. But that doesn’t mean he doesn’t value financial planning and realize its importance. This means that he had the brilliant idea of writing a book on financial planning using football metaphors to make the subject not only more interesting but easier to understand for his many readers.
Steve breaks down his new book, “Football Financial Planning”, into three sections: Defense; Offense; and coaches, special teams and systems. Then, in each section, he discusses a valuable asset for your retirement or investment portfolio, and he compares that investment to a football player. For example, he likens auto insurance to a defensive tackle and universal life insurance to an outside linebacker – these are players on your defense because you need them to protect your assets. Players on your offense include the center (your checking count), a straight tackle (fixed annuity) and a tight end (bonds). Steve realizes that you might not always need all the players on your team, but he gives you the pros and cons of each player so you can decide who you want on your team and how you can. use these players to create the best. possible game plan for yourself.
I have read several books on financial planning in the past, and they are all helpful in various ways. What sets financial planning apart from football is not only that the football metaphor is fun, but the way Steve breaks down the team makes each player or financial tool super easy to understand; because each actor / investment product is a chapter in itself, the book is also accessible for reference and finding specific items later.
Steve makes the discussion easy to follow, and he really got me thinking about the different financial options available and why some would be great assets to have on my team while others would not. Ultimately, it reminds us that each of us is the owner of the team and even the quarterback of our own team, so we have to make the decisions about the games.
As a bonus, Steve provides game charts for football fans so they can see how their financial attack or defense adds up. At the end of each chapter, it also provides a short table or worksheet for the reader to complete, asking questions about things like insurance deductibles, projected cash value, or income so that people can write all their information and keep it in one. easy-to-find and easy-to-remember location, as well as assess the different options that exist for their financial game plan.
Ultimately, Steve’s whole system comes down to figuring out which system or philosophy is right for you, because no one team will work for everyone. Steve emphasizes this point with the following story:
“To win a game (score big in your investments) it’s very important to have a system (philosophy) that matches the abilities and talents of your quarterback. A university that has produced many great college quarterbacks is the Brigham Young University (BYU); however, not all BYU great quarterbacks have been successful in the NFL. I once heard former BYU coach Lavell Edwards say he thought Marc Wilson , one of his great quarterbacks, would have been more successful in the NFL had he played in a different system.The point here is that you need to make sure that the system and philosophy that your coaches are implementing matches up with your needs and capabilities. There are systems that others promote and sell that work for most people, and they may work for you, but they may not be the best for you. Here are some examples of systems people advocate buy outside linebacker term life insurance and invest the rest in mutual fund running backs. This person’s system may also include telling you to never purchase a variable annuity. Everyone’s situation is different, so everyone’s team may be a little different from yours; the important thing is to find the system and the coaches that work for you. “
Whether you love football or just want to clear up your financial situation and be ready to score a touchdown to win the game when it comes time to retire, Football Financial Planning can give you the tools you need now to build the system. investment that works. for you. Then when the game is over, you will have a good nest egg for the rest of your life.