What do you think would happen if most people spent as much time planning their retirement and investing each year as they do watching football? I suspect we all would have a lot more money, be better prepared for retirement, and maybe even afford Super Bowl tickets every year.
Steve Roberts, with nearly 20 years of experience in the financial industry, knows that most people, including himself, would rather play or watch football than the stock market. After all, Steve himself was a three-sports scholar in high school, writing in football, basketball, and baseball. He was a member of the Ricks Junior College football team and today he coaches youth football. But that doesn’t mean you don’t appreciate financial planning and don’t 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 for its many readers to understand.
Steve divides his new book, “Football Financial Planning”, into three sections: Defense; Offense; and Coaches, Special Teams and Systems. Then, in each section, discuss a valuable asset for your retirement or investment portfolio and compare that investment with a soccer player. For example, compare auto insurance to a defensive tackle and universal life insurance to an outside linebacker – these are players in your defense because you need them to protect your assets. Offensive players include center (your checking account), right tackle (fixed income) and tight end (bonds). Steve realizes that you may not always need all the players on your team, but he walks you through the pros and cons of each player so you can decide who you want on your team and how you can use those players to create the best possible game plan for yourself.
I have read several financial planning books in the past and they are all helpful in various ways. What sets Football Financial Planning apart is not just that the football metaphor is fun, but that the way Steve breaks down the team makes any player or financial instrument very easy to understand; As each player / investment product is a separate chapter, the book is also accessible for you to refer to and find specific items later.
Steve makes the discussion easy to follow and really got me thinking about the different financial options out there and why some would be great assets to have on my team while others wouldn’t. In the end it reminds us that each of us is the owner of the team and also the quarterback of their team, so we have to make decisions about the plays.
As an added bonus, Steve provides game graphics for avid soccer fans so they can see how their financial offenses or defenses add up. At the end of each chapter, it also provides a short chart or worksheet for the reader to fill out, asking questions about things like insurance deductibles, expected cash value, or income so that people can write down all their information and keep it in one. position that is easy to find and remember, as well as evaluating the different possibilities that exist for their financial game plan.
Ultimately, Steve’s entire system comes down to determining which system or philosophy works best for you because no team is going to work for everyone. Steve underlines this point with the following story:
“To win a game (high score on your investments), it is very important to have a system (philosophy) that matches your quarterback’s skills and talents. A university that has produced many great quarterbacks is Brigham Young University (BYU). ; however, not all great BYU quarterbacks have been successful in the NFL. I once heard former BYU manager Lavell Edwards say he believes Marc Wilson, one of his great quarterbacks, would have been more successful in the NFL if played in a different system. The point here is that you need to make sure that the system and philosophy your coaches implement matches your needs and skills. There are systems out there that others are pushing and selling that work for most people. and they might work for you, but they might not be the best solution for you. Some examples of systems that people might push are to buy insurance. ration on the external linebacker term life and invest the remainder in running back mutual funds. This person’s system may also include telling you to never buy a variable annuity. Each person’s situation is different, so everyone else’s team may look a little different from yours; the important thing is to find the right system and coaches for you. “
Whether you love football or just want to clarify your financial situation and be ready to score a touchdown to win the game when it’s time to retire, Football Financial Planning can give you the tools you need now to build the system. investment that works for you. So when the game is over, you will have a large nest egg that will last you for the rest of your life.