Year-end 2008

It has been said that pilots are paid for “takeoffs” and “landings.” The recent “Miracle on the Hudson” is a reminder of the value of proper process and guidance during freak-events. A flock of birds flew into a jetliner’s engines rendering the engines useless, but a pilot with a lifetime focus on risk management successfully landed the plane in the Hudson River. It was a frightening, and there were minor injuries, but the pilot avoided catastrophic consequences to his passengers, the city and its inhabitants. Had the passengers panicked and not used personal restraint in the form of seatbelts, the results could have been disastrous, despite the pilot’s efforts. It turns out that “birds in the engine” is not a unique experience… and applies to investing as well. WealthStep, combined with your disciplined investing can help as your “financial pilot.”