Malcolm Gladwell’s 10,000-hour rule states that “the key to achieving true expertise in any skill is simply a matter of practicing, albeit in the correct way, for at least 10,000 hours.” When you break this down, 10,000 hours is the equivalent to a little shy of five years at 40-hour work weeks. We believe that pure perspective is essential for “true expertise” to be relevant. Combine the definition of true expertise with our belief that experiences through generations served, thousands of case studies, and decades of witnessing our industry evolve, and you begin to see why we believe that true expertise isn’t enough without pure perspective. You need both.
So, what is Pure Perspective?
I used to tell my kids that their perspective on a particular subject is different than mine. My perspective is different because of the experience I have from what I have been exposed to over a longer lifetime. However, perspective is also gained through the stories told by others based upon their experiences. Experiences are where perspective is gained and evolves. Your experiences. My experiences. Others’ experiences. We all bring enlightenment to the table. We can all learn from one another.
Usually there is no single correct answer. There are choices and options to consider. It might be a family looking to transfer their wealth to the next generation, a business owner looking to create the right incentive for their key people, a company looking to transition to the next generation, a couple concerned with their “retirement journey” or just simply a family looking to get started with a plan for protecting what they have while building for the future. Each of these scenarios carries with it a series of decisions and choices. Those decisions are based upon their circumstances. Their choices are based on gaining insights and being educated. The past experiences an advisor can share with clients help form a basis for better decision-making.
A comprehensive, holistic approach to your wealth planning should focus on the unique intricacies of your life, goals, and desires. Guidance and solutions should be based upon what matters most to you. What is in your best interest today and tomorrow helps guide our advice. Possibilities are formed by experience, time, changing environments economically, changes in tax code, and the stages in life you go through. However, it is our “Pure Perspective” realized over decades and generations being shared with you that makes a difference in the informed choices you make for your future.
That’s why we have named our blog, Pure Perspective. Thank you for reading our first edition.
Matthew Hudack, CLU, ChFC
P.S. In addition to this blog, we have added an Insights Library to our website featuring articles from trusted resources. We plan to add to it monthly with each edition of our blog.
This communication is for informational purposes only and does not purport to be a complete statement of all material facts related to any company, industry, or security mentioned. While not guaranteed as to accuracy or completeness, the information provided has been obtained from sources believed to be reliable. The opinions expressed reflect our judgment now and are subject to change without notice and may or may not be updated. Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied, is made regarding future performance. This notice shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which said offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of any such state. The newsletter from which this article was taken was initially prepared and distributed to our valued clients and industry partners. Readers who are not market professionals or institutional clients of Financial Synergistics Group, Inc. should seek the advice of their financial advisor before making any investment decisions based on this communication. Additional information on any securities mentioned is available on request.
Welcome to our Pure Perspective blog, designed to provide insights, information, and options for you to consider whether you are beginning your financial journey, accumulating wealth and assets, or supplementing in your retirement years. Through decades of serving multiple generations, we have served as a sounding board, a guide, and advisor when critical decisions needed to be made.