Football and financial planning may not appear to have much in common.

One involves helmets, playbooks, tackling drills, and occasionally explaining to a teenager that “wrap up when you tackle” was not merely a friendly suggestion.

The other involves retirement accounts, investment strategies, taxes, insurance, and occasionally explaining to an adult that buying an investment because it was trending online is not technically a financial plan.

However, as a football coach at Syracuse High School in Syracuse, Utah, I have found that coaching football and helping people plan their financial futures rely on many of the same principles.

Both require preparation.

Both require discipline.

Both require a good game plan.

Both require adjustments when circumstances change.

And in both football and personal finance, success rarely comes from one spectacular play.

It generally comes from consistently executing the fundamentals over a long period of time.

That is one of the most important lessons football has taught me about financial planning and building wealth.

1. Start by Knowing Where the Goal Line Is

A football team cannot create an effective game plan without knowing what it is trying to accomplish.

Financial planning works the same way.

“Make more money” is not a very specific financial goal. Neither is “retire someday” or “become wealthy.”

Those may be worthwhile aspirations, but they do not provide enough information to build a useful financial strategy.

A productive financial-planning conversation may include questions such as:

• At what age would you like to retire?

• How much income might you need in retirement?

• Do you want to travel?

• Would you like to help children or grandchildren financially?

• Are you planning to purchase another home?

• What financial risks concern you most?

• How much investment volatility are you comfortable accepting?

• What would financial independence look like for your family?

Financial planning involves reviewing a person’s complete financial picture and developing strategies designed around both short- and long-term goals.[1] Investor.gov also encourages investors to identify their goals, create a financial plan, and consistently set aside money for the future.[2]

In football terms, we need to know which end zone we are driving toward before calling the first play.

Otherwise, we may be moving quickly and enthusiastically without actually knowing whether we are headed in the right direction—which, to be fair, occasionally describes youth football perfectly.

2. Watch the Film Before Calling the Plays

Before a football game, coaches study film.

We evaluate the opposing team’s strengths, weaknesses, personnel, formations, tendencies, and favorite plays.

We also evaluate our own team honestly.

Where are we strong?

Where are we vulnerable?

Which matchups work in our favor?

What problems should we prepare for?

A financial plan should also begin with an honest evaluation of the current situation.

That may include reviewing:

• Household income

• Monthly expenses

• Emergency savings

• Retirement accounts

• Employer-sponsored plans

• Investment accounts

• Outstanding debt

• Insurance coverage

• Tax considerations

• Estate-planning documents

• Social Security or pension benefits

• Expected retirement expenses

• Current investment allocation

This process is not about judging past financial decisions.

It is about understanding what we are working with today.

A good football coach does not become offended because the team is undersized or because a certain player is not particularly fast. The coach develops a strategy that fits the team’s actual personnel.

Financial planning should work the same way.

A useful financial plan should be based on the client’s real income, assets, obligations, concerns, goals, and risk tolerance—not on what a generic online calculator assumes their life should look like.

Every family has different resources, responsibilities, personalities, and priorities.

The game plan should be designed for the family actually taking the field.

3. Fundamentals Usually Beat the Fancy Playbook

Every football coach loves a creative play.

We draw arrows, circles, motion, fake handoffs, reverses, and occasionally something that looked much better on the whiteboard than it did when 11 confused teenagers attempted it simultaneously.

But football games are usually won by executing the fundamentals:

Block.

Tackle.

Protect the football.

Know your assignment.

Communicate.

Play until the whistle.

Personal finance has fundamentals too:

Spend less than you earn.

Maintain appropriate emergency savings.

Manage debt.

Save consistently.

Invest according to a long-term plan.

Diversify appropriately.

Avoid making major financial decisions based entirely on fear, excitement, or something a stranger posted online at 1:17 in the morning.

Compound interest means that an investor may earn returns on both the original amount invested and previously accumulated earnings.[3] Over long periods, that compounding effect can become meaningful, although investment returns are never guaranteed.

Building wealth is often less about discovering a secret investment play and more about consistently executing ordinary financial habits for an unusually long time.

It is not always glamorous.

Neither is practicing proper tackling technique for the hundredth time.

Both tend to look much more valuable when the alternative hits you.

4. The Best Plan Is the One That Fits Your Personnel

At Syracuse High School, we cannot simply copy another football team’s playbook and assume it will work perfectly for us.

Different teams have different strengths.

One team may have a powerful offensive line and build its strategy around running the football. Another may have an accurate quarterback and several fast receivers. A third may rely on defense, field position, and patience.

The strategy should fit the people responsible for executing it.

Financial planning is also personal.

The individuals and families I meet throughout Syracuse and Northern Utah do not all have the same circumstances or financial goals.

Some are preparing for retirement.

Others are trying to decide what to do with an old 401(k), save for college, manage stock compensation, reduce taxes, build a business, help aging parents, or determine whether they are financially ready to retire.

A financial strategy that may be appropriate for one Syracuse family may not be appropriate for another.

Important factors may include:

• Age

• Income

• Expenses

• Family responsibilities

• Employment benefits

• Tax situation

• Investment experience

• Retirement timeline

• Risk tolerance

• Liquidity needs

• Personal financial goals

The objective is not to blindly follow a generic formula.

It is to develop a coordinated strategy based on where you are today, where you hope to go, and what resources are available to help you get there.

5. Do Not Call a Hail Mary on Every Play

There is a time for aggressive play-calling.

Fourth quarter.

Ten seconds remaining.

Down by six.

Let it fly.

But calling a Hail Mary on every possession would not be considered bold coaching.

It would be considered a very efficient way to lose the game.

The financial equivalent may include:

• Chasing the investment that performed best last year

• Concentrating too much money in one company

• Attempting to predict every short-term market movement

• Frequently buying and selling based on financial news

• Abandoning a long-term plan after a market decline

• Taking more risk than your goals or circumstances require

• Investing money you may need in the near future

Diversification involves spreading money among different investments in an effort to reduce overall portfolio risk.[4]

Diversification does not guarantee a profit or prevent investment losses. However, it may reduce the risks associated with relying too heavily on one company, investment type, or area of the market.

Regular investing may also help remove some of the pressure associated with trying to identify the perfect moment to invest. FINRA notes that dollar-cost averaging involves investing equal amounts at regular intervals and may help investors avoid trying to time every market movement, although it cannot assure a profit or protect against loss.[5]

A strong financial plan does not need to be boring.

It should, however, be designed to survive more than one type of market environment.

Championship teams usually have more than one play.

6. Defense Matters Too

Offense receives most of the attention.

Touchdowns make the highlight reel.

A perfectly executed insurance review has never caused a stadium crowd to rush the field.

Still, football coaches know that defense matters.

Protecting against a bad outcome can be just as important as pursuing a good one.

Financial defense may include:

• Maintaining an emergency fund

• Reviewing life insurance

• Evaluating disability insurance

• Managing debt carefully

• Considering long-term-care risks

• Maintaining appropriate cash reserves

• Updating account beneficiaries

• Establishing estate-planning documents

• Protecting personal information

• Avoiding excessive investment concentration

Investing is an important part of financial planning, but it is not the entire financial plan.

A family could have an impressive investment portfolio and still be financially vulnerable because of inadequate cash reserves, insufficient insurance, poor tax coordination, excessive debt, or outdated estate documents.

A financial advisor should not only help clients pursue growth.

The advisor should also help clients identify potential risks that could knock the plan off course.

The goal is not merely to move the ball down the field.

It is also to avoid fumbling the family’s financial future at the two-yard line.

7. Discipline Matters More Than Emotion

Football players are trained to follow their assignments even when the game becomes stressful.

A defensive player cannot abandon his responsibility simply because he sees something exciting happening on the other side of the field.

That is usually how someone ends up completely out of position while a running back jogs untouched into the end zone.

Investors can also become financially out of position when emotions take control.

When markets are rising, investors may become overconfident and take more risk.

When markets are falling, fear may tempt them to sell investments and abandon a long-term strategy.

Investor.gov warns that market volatility and emotional decision-making can cause investors to make impulsive choices that may not align with their long-term goals.[6]

A financial plan can provide structure during periods of uncertainty.

That does not mean the plan should never change.

It means changes should generally be based on a person’s goals, circumstances, time horizon, and financial needs—not simply on the emotion of the day.

Football players practice their assignments so they can respond correctly when the pressure arrives.

Investors can benefit from deciding in advance how they intend to respond when markets become uncomfortable.

8. Good Coaches Make Halftime Adjustments

No matter how carefully a coach prepares, the game rarely unfolds exactly as expected.

The opposing team changes its strategy.

A player gets injured.

The weather changes.

A particular play does not work.

The referee makes a call that is obviously incorrect and should be respectfully discussed from a reasonable distance at a perfectly reasonable volume.

Life changes too.

People change careers, get married, have children, purchase homes, receive inheritances, experience health problems, start businesses, lose loved ones, and reconsider retirement goals.

Financial markets, interest rates, tax laws, and personal priorities may also change.

That is why financial planning should not be a one-time event.

CFP Board’s financial-planning framework includes monitoring a client’s progress and updating recommendations as appropriate when circumstances, goals, or available information change.[7]

Regular financial reviews may provide an opportunity to consider questions such as:

• Are you still on track for your retirement goals?

• Has your income changed?

• Have your expenses increased?

• Has your family situation changed?

• Is your investment allocation still appropriate?

• Do beneficiaries need to be updated?

• Has your tolerance for investment risk changed?

• Are there new tax-planning opportunities?

• Does your insurance coverage still meet your needs?

Changing the plan does not necessarily mean the original strategy failed.

Sometimes an adjustment is evidence that the planning process is working.

Good coaches do not stubbornly continue calling a play that is clearly not working just because it looked fantastic in practice.

They evaluate what is happening and adjust.

9. Every Player Needs to Understand the Assignment

A football play only works when each player understands what they are supposed to do.

The quarterback, running back, receivers, and offensive line may all have different assignments, but those assignments must work together.

Financial decisions should also be coordinated.

Investment management, retirement planning, tax planning, insurance, estate planning, and cash-flow decisions should not operate as completely separate parts of a person’s financial life.

For example, an investment decision could affect taxes.

A retirement decision could affect Social Security.

An estate-planning decision could affect beneficiaries.

A decision to retire early could affect health-insurance needs.

The purpose of comprehensive financial planning is to help the different parts of a person’s financial life work together.

It is difficult to run an effective offense when every player is using a different playbook.

10. The Client Still Has to Run the Play

A coach can prepare the game plan, teach the fundamentals, identify opportunities, and make adjustments.

But the coach cannot put on the helmet and play every position.

The same is true in financial planning.

A financial advisor may help a client:

• Organize financial information

• Identify financial goals

• Evaluate potential strategies

• Understand investment options

• Model retirement scenarios

• Review portfolio risk

• Coordinate different areas of the financial plan

• Monitor progress

• Provide accountability

The client still makes the decisions and carries out many of the necessary actions.

That may mean:

• Increasing retirement-plan contributions

• Reducing unnecessary spending

• Paying down debt

• Completing estate-planning documents

• Updating beneficiaries

• Building emergency savings

• Providing requested financial documents

• Remaining disciplined during difficult markets

• Communicating when circumstances change

The relationship works best when the advisor and client operate as a team.

My job is not to stand on the sideline shouting complicated financial vocabulary through a headset.

It is to help clients understand the game plan, why each decision matters, and what their next assignment should be.

11. Wealth Is Usually Built One First Down at a Time

Football games are occasionally won through spectacular plays.

More often, they are won by consistently moving the chains.

Three yards.

Five yards.

Another first down.

Keep possession.

Avoid major mistakes.

Continue executing.

Financial progress often looks similar.

Increasing a retirement contribution by 1% may not feel life-changing today.

Paying off a credit card, building a cash reserve, adjusting an investment allocation, or reviewing an insurance policy may not create an exciting social-media post.

But a series of thoughtful financial decisions made consistently over many years can meaningfully improve a family’s financial position.

There will be setbacks.

There will be unexpected expenses.

Markets will decline.

Plans will require adjustments.

Occasionally, life will call a trick play without informing anyone in the huddle.

The objective is not perfection.

The objective is to know where you are going, create a strategy based on your circumstances, manage risk, and continue moving toward the goal line.

Creating a Financial Game Plan in Syracuse, Utah

Coaching football at Syracuse High School continues to remind me that meaningful progress requires preparation, communication, discipline, teamwork, and consistent execution.

Those same principles guide my work as a financial advisor.

At Liberty Point Financial, I help individuals and families in Syracuse, Utah, and surrounding Northern Utah communities evaluate their complete financial picture and develop personalized strategies for retirement, investments, and other long-term financial goals.

Financial planning cannot guarantee that someone will become wealthy or achieve a particular financial result.

What it can provide is a clearer understanding of where you are today, where you would like to go, and what steps may help you move in that direction.

No gimmicks.

No guaranteed touchdowns.

Just a thoughtful financial game plan—and preferably fewer turnovers.

Sources and Footnotes

[1] CFP Board, “What Is Financial Planning?” CFP Board describes financial planning as evaluating a client’s financial circumstances and providing advice designed to help the client pursue financial goals.

[2] U.S. Securities and Exchange Commission, Investor.gov, “Introduction to Investing.” Investor.gov encourages investors to establish financial goals, develop a plan, and consistently save and invest for the future.

[3] U.S. Securities and Exchange Commission, Investor.gov, “What Is Compound Interest?” Compound interest refers to earning interest or investment growth on both the original principal and previously accumulated earnings.

[4] U.S. Securities and Exchange Commission, Investor.gov, “Diversification.” Diversification involves spreading investments among different assets in an effort to reduce overall investment risk. It does not guarantee a profit or prevent losses.

[5] Financial Industry Regulatory Authority, “Tips for New Investors.” FINRA explains that dollar-cost averaging involves investing at regular intervals and may reduce the temptation to time the market. The strategy does not assure a profit or protect against loss.

[6] U.S. Securities and Exchange Commission, Investor.gov, investor education materials concerning market volatility and emotional investing. Investor education guidance cautions against making impulsive investment decisions based solely on short-term market movements.

[7] CFP Board, “Monitoring Progress and Updating.” CFP Board’s financial-planning process includes monitoring a client’s progress and updating financial-planning recommendations when appropriate.

Important Disclosure

This material is provided for educational and informational purposes only. It is not intended as individualized investment, tax, legal, insurance, or financial advice and should not be relied upon as a recommendation to buy or sell any investment.

Investing involves risk, including the possible loss of principal. Past performance does not guarantee future results. Diversification and asset-allocation strategies do not ensure a profit or protect against loss.

Financial-planning and investment strategies should be evaluated based on each individual’s goals, financial circumstances, risk tolerance, liquidity needs, and time horizon. Liberty Point Financial does not guarantee investment performance, financial outcomes, wealth creation, or the achievement of any specific financial goal.

Liberty Point Financial is not affiliated with or endorsed by Syracuse High School or the Davis School District. References to coaching experience are provided solely as personal background and illustration.