Skydiving and Financial Planning – Two peas in a pod. Sort of.

In 2020 I was bored. Having lost my father during one of the worst years in my memory, and feeling discouraged because there was nothing to do, it seemed a good time to check one thing off the old bucket list – skydiving.

So, in October of 2020 I flew to Arizona for 10 days of intense training learning the craft of jumping out of an airplane. There is a lot to cover and learn – the trainers guiding me through every detail from body dynamics to parachute mechanics. It is a long information packed process.

Once you are certified and licensed to jump as you might please, there is still a process and series of events to every dive. Someone packs my chute who is licensed or qualified to do so (I prefer not to pack my own chute). I check every detail of my rigging system before putting it on. I ask someone else to spot check the rig once it is on and again, I check it before leaping out of the plane.

Putting the pieces in place to be a skydiver was a long process. Then, once I was a skydiver, it became easier. But every single time we jump, there is a somewhat mundane process of checks and balances by the jumper, from your peers, by the pilot and ground control and manifest before anyone jumps out of the plane. Why? Because we want to know when it comes time to deploy the chute and save our lives, we have a very high probability of success; and, we want to know in the unlikely event the chute does not deploy as planned, there is a backup plan ready to step in and help mitigate the chances of injury or death.

In essence this is exactly like financial planning, the core of what we do at TenBridge.

At first engagement with a new client there is a lot to learn and do in the creation of a working financial plan. We provide guidance on the best steps and practices moving forward. We guide clients through our process and the implementation of the financial plan.

Once we mutually feel like the puzzle pieces are in their proper place, we meet as often as we need to review and update the plan, to double check the pieces are still in their proper place. Why is it critically important to get regular checks and guidance? The same reason we check our rigs and chutes regularly – to make sure when we are ready to deploy our goals, we have the highest probability of success. And if the goals don’t deploy the way we planned, we have a backup plan to help mitigate the chances of financial injury.

It can be tempting to wonder why we review the plan so often. Here is a reminder: we care about the outcomes. We have had many clients over the years who had the unexpected happen, tragedy strike or a sharp turn in the road present itself. But in each case, we were able to say from a financial perspective, it will be okay. We planned and you are prepared.

Skydiving and financial planning are two peas in a pod. We put the pieces in place, plan for success, and have a backup – and have a lot of fun in the process!

We love financial planning at TenBridge and feel very lucky to do what we do. Our slogan is, “We guide people to financial clarity and confidence in an otherwise confusing world” and this simple saying is exactly what we do.

From the Desk of Erik Lawrence CFP®

The information contained in this correspondence is intended for general educational purposes only and as a means for facilitating a conversation.  Please consider our door always open to discuss your particular situation and how this information might benefit you and fit your specific needs.