Act Like an Antique British Car Owner
Act like an antique British car owner when it comes to your portfolio.
Our Military Kids, a charity that helps children of military men and women that are deployed overseas, recently held a car rally fundraiser. As part of our sponsorship, I was lucky enough to spend a Saturday driving around backroads in Virginia, Maryland and Pennsylvania with a bunch of British antique car aficionados. This group gets together for a good cause and to reconnect with friends and fellow car lovers. The weather was magnificent. Bright blue sky, but not too hot, so you could really enjoy the day cruising with the top down in a classic convertible. A perfect fall day.
When the group stopped for lunch, I couldn’t help but notice almost every driver popped the hood of their car after pulling into the parking lot to check the oil. At first I couldn’t figure out why. Except for one unfortunate owner whose recently acquired 1960 Triumph TR3A was making noises that turned out to be coming from a broken water pump, all the other cars in the group seemed in perfect shape. The outsides glistened in the sun and the engines were also purring like an actual jaguar. So, why take the time to check the oil?
As I learned that day, every antique British car owner knows that no matter how beautiful the car may appear, you need to check the oil regularly because antique British cars are notorious for leaking oil….constantly. If left neglected, a perfect autumn day is quickly ruined as you sit by the side of the road waiting for a tow truck to haul your prized possession off to be repaired at a cost much higher than a few quarts of motor oil.
As everyone topped off the engine fluids, it occurred to me that your investment portfolio is similar in that regard. It can go cruising along, looking great during “sunny” markets, but if you don’t check the engine on a regular basis, things can go south in a hurry. Regular monitoring is key to ensuring a pleasant journey. Having a great advisor that is looking out for the long-term health of your assets is like having a great mechanic that can keep you on the road enjoying many sunny fall days to come.
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