Money Matters: Investors can learn from Superbowl strategies

Reported by: Brittany Price
Set Text Size SmallSet Text Size MediumSet Text Size LargeSet Text Size X-Large
Updated: 1/22/2014 10:12 am
The Broncos take on the Seahawks in Superbowl 2014. 

"Those teams didn't just get their because they were lucky. They got their because they put a lot of focus on it and a lot of hard work," Tommy Wood, Financial Adviser said.  

Wood notes that winning football teams have similar characteristics of successful investors.

First, they have a good offense.  

"These good football teams, in order to have success, they've got to have something to get them down the field," Wood said.  

For investing, this means having a solid portfolio. 

"Stocks or mutual funds that buy stocks or something along those lines that can give people a little protection against inflation and give them some offense against rising costs," Wood said. 

Second, is a strong defense. 

"If a football team spends all of their time on offense, when they go into their game they may score a lot of points but chances are they're still going to lose," Wood said.  

Investors, that means not putting all your eggs in one basket. 

"It's definitely wise for people to diversify their portfolios very very well. Have some bonds, have some cd's, have some emergency cash," Wood said.  

A third characteristic is perseverance. 

"Successful teams don't just abandon their game plan the first time something goes wrong. A lot of times, it can wind up creating some opportunities," Wood said.  

Wood notes that investors should expect market rises, and falls.

"They're going to have set-backs, and when that happens it's important to stick to their plan," Wood advises. 

A fourth strategy is good coaching. 

The Broncos and Seahawks have skilled players, but they still need coaches for guidance. 

"Having a financial professional help investors with their stuff, it can help people focus on the long term game-plan toward reaching their goals," Wood said.  

0 Comment(s)
Comments: Show | Hide

Here are the most recent story comments.View All

No comments yet!
Lubbock Weather

Wind: WNW 6 mph
Feels Like: 75°
High: 86°
Low: 69°
Inergize Digital This site is hosted and managed by Inergize Digital.
Mobile advertising for this site is available on Local Ad Buy.