Jack Lambie’s Post

You know what students I couldn’t stand in school? The ones that would break the rules, Go out of their way to stir up some trouble, And when they got caught, the water works started. I’m not going to sit here and pretend I was a perfect model of behavior. (Shocking, I know). But I could never stand when someone else Tried to cry to avoid trouble and punishment, Knowing full well what they did had that risk with it. Same goes for financial planning. I get that life happens, emergencies arise, And sometimes timing just isn’t quite right. But you’re telling me you can’t find time For a single conversation In 30-40 years’ time?? I’m not saying life doesn’t throw curveballs And expenses don't come up. But even taking ONE hour within 4 decades Is going to be better than nothing. Cause unfortunately if you get to 65 and Don’t like where your picture is at, But never took time to talk… There’s only one person to blame at that point. -Lambie

You can try to ignore it all you want. But it’s happening. What am I talking about? Pick your poison: ⇾ Getting older. ⇾ Inflation. ⇾ Death. ⇾ Taxes. I get it. Typically, not the feel-good conversations. But regardless of whether you acknowledge it, It’s happening. And either way, It’s going to be uncomfortable. I once had someone tell me, “Jack, I’m not ready to talk About my own mortality.” That individual was almost 60 years old… Life’s coming at you Whether or not your ready. You have two choices. You can fight through tough conversations Prepare for the worst, and be ready To face whatever comes head on. OR You can ignore all the negative possibilities And have no plan to face them When they come. Preparation isn’t always comfortable. But it’s always worth it. -Lambie

I know I quote Jack Reacher a lot. “Assumptions kill.” I ran into a situation where it’s hard Not to assume bad intentions though. Met with a married couple. One spouse was 66, The other was 78. Neither ever had a financial planning conversation. The 78-year old has been done working For a decade plus. The 66-year old wanted to know if She could be done next year. Do they have the most in the world? No. Do they live an extravagant lifestyle? No. I made it clear though that whether or not They decide to take my advice They would be fine!! We built them their first financial plan ever. They loved it. I never expect anyone to agree to my recommendations After I show them the plan for the first time. I asked them if they wanted To take everything home and review Before they made a decision about moving forward. They told me they like it And want to get the ball rolling ASAP. I got a call two days later. One thing the 78-year old didn’t mention, Is that they have 5 relatives also in my industry. They told them not to move forward. I wasn’t surprised as the relatives work at companies That have a reputation for not doing actual planning. Mostly just slinging investments. Am I bummed when someone changes their mind? Of course. But it’s not always because I lose the business. Questions started running through my mind: If this prospect had 5 relatives in the industry: Why are they 78 and never had a conversation? Why didn’t this individual tell me they have So many relatives in the industry? How come the 66 year-old didn’t know Their Social Security benefit? How come no one in their family Helped them find their benefit amount? How come all their investments were held With someone in a different state who They have little contact with? Why did it take them talking to someone Else for the family to intervene? I get told no all the time. It will continue to be the case. It doesn’t bother me at this point. And I should take my own advice And not assume. Maybe this couple’s family was truly Looking out for them. But if my assumption is right, This is a sad, sad story. It’s a good reminder that I can only control so much. While I would love to help these great people, It’s now out of my control. Not the first time, And unfortunately, won’t be the last. -Lambie

One thing any good business owner should do: Hire people smarter than themselves. Our Head of Operations Laura McManama, CLU® If it wasn’t for her, There would be times I forget to breath. This is an industry of constantly moving parts. Clients who continuously need service on their plans. It takes someone to keep all of it together, at all times. We cannot thank her enough for what she does. Please go give her best wishes for a wonderful birthday! Thank You, Laura! -Lambie Technically her birthday was yesterday. I wanted to make sure as many people As possible wish her a happy bday though! She deserves it!

3 Years Free of Alcohol! It doesn’t feel that long. While there will always be struggles, I’m blessed to be at the point Where it feels like old hat. I would be remiss if I didn’t thank God. I learned going through this process that I can’t accomplish anything without His help. I like posting about this journey on my sobriety birthday For 3 reasons. 1. I want to brag!! I am 25 years old and sober Living in the drunkest state in the U.S. I consider this a greater accomplishment Than anything I have done Or will do professionally. I am tremendously proud of myself. 2. To share a message on what I’ve learned in sobriety. The big message this year: Embrace every emotion. Numbing uncomfortable emotions with: ⇾ Food ⇾ Drugs ⇾ Alcohol Is NOT going to work. That shit will catch up to you. It’s beautiful that we can Be so passionate about something That we’re mad when things don’t go right. It’s beautiful that we can Enjoy kindness and friendship so much That we are able to experience the feeling of hurt. It’s beautiful that we can Love another person so much That we become sad when we they are gone. There is no light in this world without darkness. Same goes for our emotions. You don’t have to like the way some emotions feel, BUT It’s a hell of a lot scarier to not let yourself feel them. 3. The same invitation I throw out there every year. I would not be where I am today If it wasn’t for many people who were willing to: ⇾ Be vulnerable. ⇾ Be patient. ⇾ Listen. If you are curious about the sober life, Have questions for someone who’s been through it, Want proof that you can be successful and happy sober, Or just want to hear my story and see if you relate to it My door is wide open. Thank you to all those in my corner. -Lambie

“You’re not stylish.” A self-proclaimed fashion guru DM’ed me the news. ⇾ “The red and green suits aren’t hitting it.” ⇾ “You’re not getting the response you hope for.” ⇾ "People have called me a clown for my choices too.” Other than the fact that, If they were trying to sell me It wasn’t an intriguing sales pitch, They forgot one of Jack Reacher’s best lessons ⇾ “Assumptions kill!” They assumed I picked my suits to: ⇾ “Wow” others. ⇾ Be seen as fashionable. ⇾ Get approval from others. When in reality ⇾ I couldn’t care less! I never thought growing up I’d be in a profession that has me Spend most of the time dressed up. So if I got to suit up ⇾ I’m doing it my way. That means custom and made to last So I don’t have to keep buying them. And that means they are going to be fun! That’s what I care about. That’s what's important to me. But in the “Guru’s” defense, This was a lesson I also had to learn too. While something may make sense to me, Not everyone is going to prioritize: ⇾ Protecting their income. ⇾ Protecting their loved ones. ⇾ Putting money away for the future. Everyone is different. Seek to understand before being understood. -Lambie P.S. While I never get suits for others approval, I have been met with great feedback. This is not a testament to me. It’s a testament to my friends who make these awesome suits!

Be careful! With any good financial planning advice, Going to an extreme can be detrimental. I talked to a client the other day. It was time to set up a review meeting. They asked me: “Do we really need to review? I just set it up and don’t look at it, right?” Kind of… I do believe you shouldn’t look at your plan daily Because you will drive yourself crazy! However, NEVER looking at is an opposite extreme. Everyone’s heard this advice: Set it up and don’t worry about what it does now, You won’t be touching that money for years. And that’s true. However, that doesn’t mean NEVER review. There’s a balance between looking daily, And doing it every so often. NEVER looking is just as bad As looking every single day. With any financial advice: ⇾ Put money in savings. ⇾ Put money in the market. ⇾ Get life insurance put in place. ⇾ Build up funds to retire off on one day. Going too far to one extreme is going to hurt. -Lambie

To all my fellow financial advisors out there: Thank you. One of the best parts about this LinkedIn journey Is connecting with others who understand. There’s only a handful of people who understand: ⇾ Constantly being told no. ⇾ Building a book of business. ⇾ Working 12 hours and then studying. ⇾ Having to deal with people’s livelihoods. ⇾ Having to have uncomfortable conversations. I was a 22-year-old kid when I started this business. I came into it thinking I had to beat everyone else To be successful in this industry. Fast-forward a few years, And boy I couldn’t have been more wrong! One of the biggest things that has helped me, Finding community with my so-called "competitors." I learn from them. I feel their pain as they feel mine. And we continue to grow together. Grateful for the advisor relationships I have on LinkedIn. -Lambie

I can’t care more than you. I have had several people come to me. Simply because they knew planning Was the “right thing” to do. That translates to: Someone told them they need to do this. But ultimately, no one can tell you what to believe. You got to believe it. I believe that loved ones should be protected Financially if we pass earlier than expected. I believe we should protect our incomes In case we get injured or sick. I believe we should have a game plan To walk away from work one day if we want. I believe we should prepare For bad markets and economic downturns. But I can tell you this until I’m blue. If you don’t believe it, Or do it because it “sounds good” It isn’t going to work out long-term. I can’t force you to think this is important. Nor do I want to. But if you care about and prioritize planning, I’ll make sure you got the best damn plan out there. -Lambie

I could sell you a $10 Million life insurance policy. You could pass away, It could pay out. But your family’s lives would NOT be better. No amount of money can replace Losing a spouse. No amount of money can compensate For a kid growing up without a parent. Money could never be a concern again, But it won’t make life better. So if a life insurance policy paying out Won’t make life better, Why even get one? Life insurance isn’t designed to make life better. It’s designed to prevent it from getting worse. Losing a loved one creates enough Emotional and mental trauma. Imagine adding: ⇾ Not being able to pay your mortgage. ⇾ Scrounging just to make ends meet. ⇾ Not being able to fund education. ⇾ Having to immediately move. As always, don’t misinterpret me. I’m not saying everyone should purchase A life insurance policy with $10 million of death benefit. The point is that whatever the amount is, It will never be enough! It’s not going to make your family’s life better. You are able to prevent it from getting worse though. -Lambie