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“Everybody’s Got Plans…”

The real quote is from Mike Tyson,

‘Everybody’s got plans … until they get hit.”

Iron Mike Tyson Telling the Truth

This is true in all walks of life, not just pugilism. What is wild is I already wrote about this topic 8 years ago.

If I could find a Financial Planner who would help put together the original plan, but have as part of that plan a “Plan B” and/or “Plan C” as part of that original plan, or gave an outline of a “Plan B” as part of Financial Planning, I think I might hire them. I have spoken to folks who were told what the risks were when they started to invest like:

  • The Stock Market is Volatile, if your risk aversion is high, then maybe you should be in Bonds
  • Bonds may not pay as high a rate as you wish
  • Things may go wrong
  • etc., etc., etc.,

However, do planners have other interesting ideas like:

  • If there is a market correction along the way, we will not be getting out of stocks, but we may rebalance things at some point during the adjustment, to make sure there is even distribution, in the portfolio.
  • If you suddenly have a large bill for your house, we can take money from the more liquid areas in your portfolio to pay for it, and then plan on how to pay it all back.

Planning is fine, but all plans change, due to unforeseen circumstances or just “life in general” (i.e. “… until you get hit”), your plan must either be flexible enough to deal with this, or you must be flexible enough in you financial planning to reconsider things, and change your plans.

Feel Free to Comment

  1. My Own Advisor – Ottawa – Personal Finance and Investing Blogger

    People with an all equity portfolio could get clobbered long-term, if they are focused only on capital appreciation.

    I have no idea what the future holds so best to hedge all sorts of bets I think….there are never guarantees when it comes to tomorrow.

  2. nendo112014

    I love real estate but nothing beats the liquidity of stocks! Stocks give you solid access to emergency money you may need by selling them or using their margin. Thats why I tend to be fully invested in the markets with very little cash.

    1. bigcajunman – Ottawa, Ontario – A simple blogger writing about his financial experiences as the Father of a wonderful son who is on the Autism Spectrum. Also writes about security and WordPress technology.

      Brave, I can’t take that, but to each his (or her) own. Just have a Plan B in case a “Mike Tyson like” event occurs.

  3. No Nonsense Landlord – Eagan, MN – Eric is financially independent due to his investment properties, He started several years ago to replace his "work income", with other alternate streams. He started several businesses over the years, some he stuck with, some were not as profitable. But trying leads to success. He is on his way to retirement at age 56, making more money that he was while working his full time job. Eric is a landlord that owns 8 rentals with 25 renters to track. In addition to the renters, which many people would already consider to be a full-time job, he also has a real full-time job, as a data architect at a major bank. He is an HOA president, property manager for the HOA which include the responsibility of tenant screening. In his spare time, he also runs a small mowing business and plows snow with his Ford F350 Diesel. Other than that, he just loafs around the house and blogs… Eric says the secret to minimizing the work in his rentals is attracting and recognizing great tenants. Read his blog to find out more at He has a lot of tips about managing property and financial independence.

    I always worry about a long projected decline, for 10+ years, like Japan. Hopefully we will never experience it, but there are time I am not sure….

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