reflectionAngela Chen wrote an interesting piece in the January 1 edition of the Wall Street Journal on decision making. According to University of Toronto psychologist Keith Stanovich, very smart people often make irrational decisions.  Why? According to researchers it is that pesky issue of emotions. Human beings are, after all, human beings.

Unfortunately not everything in the world in which we live is rational, much less predictable.  As we enter the New Year, how can we train ourselves to make better decisions as we endeavor to obtain better results? One tip that Ms. Chen gives is to consider yourself a caregiver for the person you will be in the future. Taking care of someone else is easier than taking care of you. By thinking about who you will be then, you can choose to prepare more objectively. We all know that no one has a functional crystal ball. Even if you imagine your future self, you will probably not do so accurately. However, you will engage your rational decision making skills as you choose to provide for the person you expect to be then.

The reality is that we all live in the present. The future is not guaranteed. That is why at Axiom Advisors, overseeing your financial affairs is a process which enables you to realize your mission, vision, values and goals. What is important to you now will most likely be important to you in the future. Your vision may change with events and circumstances so the process must be flexible rather than fixed. Life has a way of humbling us. Nevertheless, we must set goals based on our best estimate of what we will want and need, in light of what our life is like today. As life deals us different cards, we change the strategies.

Each New Year offers new challenges and opportunities. Our wish is that 2014 will be your best year ever. Our job is to work with you toward that end. Thank you for letting us be a part of your story.

By David M. Wheat, CFS, ChFC