In mid-November I felt the pendulum swing of emotion. Like so many people I was saddened and angered over the horrific attacks on innocent people in Paris. A few days later I was thrilled when our unpredictable Detroit Lions finally won a game in Green Bay.
By no means am I implying that the thrill cancelled out the sadness
and anger. As we’re all aware, sports results are not matters of life
To put the events into proper perspective, sports are really nothing
more than a sort of escape from the realities of life, a vicarious
The events in Paris were beyond horrific and caused unimaginable
grief for so many families. Grief that will never go away and will
forever haunt those who lost loved ones.
It just goes to show you that in this crazy world anything can happen to anyone at anytime, regardless of age and circumstances.
As an adviser, though, I was pleased to see the world’s markets open
and functioning normally after the Paris attacks. Not because I’m
callous or insensitive to the victims of terrorism.
From my viewpoint, the markets — on Wall Street and throughout the
world — represent order and civilization. By order, I mean that, even
though prices fluctuate, at the end of the day they’re determined by the
free markets. Not by having someone’s or some entity’s will forced upon
I’ve often written that investors need an iron stomach and that they
need to keep their emotions out of their investment choices. The events
in Paris are the most recent example of why both attributes are
Again, I don’t want to sound callous, but in today’s world
anticipating the unexpected and unimaginable is an integral part of
financial planning. I don’t pretend to have an answer to all of the
world’s issues and problems. But I believe the recent events in Europe
should serve as a reminder why it’s so important to not only have your
own financial house in order, but also to be involved in the financial
order of your extended family.
I mention this because I’m an adviser to clients of various ages. And
it’s fascinating to see how different age groups handle their financial
For example, I have many seasoned clients that continue to receive
hard copies for all of their investment and bank statements. That means
loved ones can easily access their pertinent data.
On the other hand, many of my younger clients opt out of paper
statements and essentially do their banking from a smart phone. Which
means all their financial data is digital.
Naturally, you want all of your online activities to be secure, but
you also want your loves ones to know how to access your data in the
event of illness or tragedy.
Financial technology may be convenient and secure, but if that’s how
you handle your finances, it’s important to make certain that trusted
family members know how to access this information if you’re no longer
able to do so.
Unfortunately, the unexpected can happen at any time. Recent events
should serve as a reminder to keep your financial house in order. And if
you’re a “high tech” household, be sure to keep your loved ones in the