When Boring Stuff Becomes Interesting

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Jason’s Random Words

I've never really liked playing golf. 

I've owned two sets of golf clubs in my life, neither one very good or that cost much money. I've usually played a few times per year for most of the past couple of decades. When I was younger and played a little more often, it was usually with people I liked, but as I got older, I found myself playing more with colleagues or customers, many of whom I didn't know well, have much in common with, and occasionally, didn't really like. 

More recently I've started playing a little more, and I am starting to enjoy it. I'm enjoying it enough that I've asked my wife and son for new (used, but new to me, right?) golf clubs for Christmas. 

What's changed? 

Two things. First, my circumstances. I am surrounded by a lot of friends who enjoy and are good at golf, and they're helping me improve my golf game. Second, living in New England, I've come to appreciate the more limited amount of days each year that I can enjoy outside. 

What's this got to do with investing? 

It reminds me of the decision I’ve made that it's time to start shifting a meaningful portion of my family's wealth out of stocks and into bonds. Circumstances change, and opportunities to do things you may not have wanted to do in the past now make sense and have appeal. 

In the case of golf, it's pure pleasure and privilege. With bonds, it's also some privilege. I've been wildly fortunate to have been 100% invested in stocks for the past 15+ years, one of the best runs for the market in the past 125 years. But I'm also a good enough investor at this point to see when it's time to shift away from pure wealth building and take advantage of the best opportunity in my investing career to start preserving capital while also earning some yield. 

So, something I have never wanted to do now makes sense and has appeal. But unlike golf, I expect shifting some of my wealthy into bonds will actually be good for my finances…

Interested in learning more about my decision and journey? Be sure to check out the Sept. 11 episode of Investing Unscripted, where Jeff and I discuss it in more depth. 

Using the right club

If you're playing golf, you want to use the correct club depending on how far you are from the pin, and the surface your ball is resting on. It's no different if you're doing plumbing or woodwork, where you want to use the best tool to give you the best result. Using the right tool also just makes it easier. Right now, I think it's time for me to put a "bonds" club in my investing golf bag. 

The point

It's easy to fall into routines and habits, and for those habits to turn into dangerous dogma of "this is good; that is bad," or to fall into the trap of doing things the way you do them because that's the way you do them. Investing success – and a successful life, I believe – requires regular introspection and re-evaluation of your goals and progress. Keeping an open mind about things can really pay off. Even when it leads you down a path you previously were convinced wasn't one you would want to take.

You can do it,

Jason

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