What’s Your V8 Moment?
If you are a baby boomer or have boomer parents, you’ve probably come across this ad:
The Crankset Group has dubbed these Blinding Flashes of the Obvious. BFOs are epiphanic moments of “seeing” something essential for the first time or perhaps recalling something foundational that we’ve neglected or forgotten.
Why is it so important to highlight BFO’s? Consider:
- Vince Lombardi, legendary 1960s coach of the Green Bay Packers, used to begin preseason practice with these five words: “Gentlemen, this is a football.”
- John Wooden, “The Wizard of Westwood,” coached UCLA to an unprecedented 10 NCAA national basketball championships in 12 years, including seven in a row.
Wooden began practice every year by teaching his players how to put on their shoes and socks.
If BFOs are important for premier athletes, how much more important is it for financial planners and other true fiduciaries to remind our clients of the basics? Remember that what’s commonplace to you will likely be profound to them!
Our clients do not pore over every jot and tittle of currency arbitraging, optimal withdrawal rates in retirement, or the latest hybrid LTC products. (more…)