If Dieting and Investing Were Easy, We Would All Be Skinny and Rich!

[Michelle Matson]

Have you ever noticed that two of the largest sections in a bookstore are the health/fitness/diet section and the money/finance section? Have you ever wondered why? Neither of these concepts is new and typically most of the books have similar notions, so why do we need so many books to make something happen? It’s because many people get lost somewhere in between knowing what to do and effectively taking action.

What does it take to be fit and healthy? We all know the answer; there are two simple rules—eating right and exercise. So what’s the problem? Why are so many people overweight and unhealthy? Because having the knowledge doesn’t mean you are going to follow the rules. When you are trying to stay fit and healthy, it is easy to get sidetracked or led astray by the evils of everyday life. Who can resist chocolate chip cookies? With health and fitness, some people fall into bad habits or have the lack of discipline, while other people are on the opposite end of the spectrum and hire a personal trainer who can help them stay on track.

Financial professionals are the personal trainers when it comes to investing. We are the people who provide the discipline and motivation to keep our clients on the right track. It’s easy for any investor to get distracted by today’s economic crisis or personal financial circumstances, but sticking with a long-term plan is the best way to get the results they’re after for their future.

The market is turbulent and the media is going to continue to make doom and gloom predictions; therefore, it is easy for both investors and financial advisors to get sucked into that hype. As a coach, your job is to help your clients stay focused on the end game, their goals and overall results they’re trying to achieve with their investments. Like many other situations in life, your clients are going to have good days and bad days.

A great coach is a combination of a drill sergeant, a mother and a cheerleader, and our clients need all of these components at one point or another. It’s not enough to just give them what they want and hope for the best. We have to help them make the right choices and stick with them until they get the results they want. You are the personal trainer when it comes to being financially fit. If we can do that, maybe we’ll have some happy clients who are doing what it takes to get rich (and skinny)!