The ABCs of Behavioral Biases Introduction
Written by Andrew Hunt
Written by Andrew Hunt
The past three months has been a time of reflection for both Andrew and Jason, personally and professionally. Here are our latest thoughts.
The past three months has offered me a tremendous time of reflection, both personally and professionally. With Landry turning two in July, it made me realize how the major life change of having a child has changed my perspective and how I experience everyday life.
One of the true joys of being a father is getting to experience things through a child’s eyes, no matter how routine. For example, there is a pond in our neighborhood that I have jogged around countless times but never have I thought about jumping in and swimming in it. But with the pools closed, neighbor kids have taken to swimming in the pond. And I decided this is an experience I want to have with my daughter, so I strap on her lifejacket and jump in the murky water experiencing such a simple joy.
Another reflection I have had during this time is how much words matter. As your children grow and start speaking words, it makes you realize how speaking to your kids and how speaking in general produces an effect. Speaking is an informed way to communicate. When you have kids in your home, it’s like having a little mirror that shows you how much words matter.
Reflecting on our business, even though it’s been a challenging time to navigate the market cycle of a recession, it’s given me a proud fatherhood moment to watch how our clients have responded to the situation. It’s been the culmination of over a decade of work of how we’ve counseled our clients and laid out a financial strategy to see it worked out in real life. The recession tests the mettle of our resolve, and it’s been satisfying to watch our clients taking our counsel. It gives me reassurance that they trust us as advisors and our commitment to their financial wellbeing.
It’s strange to say that I’ve found some bliss during such a scary and challenging time of the current health crisis and volatile cultural climate, but me and my family have found joy in this time of togetherness. Don’t get me wrong, we’ve had hard days. But the delight has come from hitting the pause button of our everyday lives in which we were running from one activity to the next and just living in the togetherness.
During this increased time together, it has made me realize how my children have transitioned from blissfully naive youngsters into questioning young minds. Over the past few weeks, our family has had intentional conversations about what is going on politically and in the news and it has made me realize that I’ve taken on a new role within fatherhood. My job as their father is to help them understand the situation by laying out the facts and my input, but also giving them space to form their own opinions and apply critical thinking. It’s been a realization of just how quickly our kids are growing up and that I’ve been grateful for these past few months to have the time together to have these meaningful moments. Without so much competing for their attention, it’s been nice to just enjoy this time as a family.
One hobby that the family has gravitated towards during this time is cycling. With the weather turning nicer, it’s been nice to get out on the trails for longer bike rides. It’s fun to see my son overcome the challenge of a long ride and accomplish something new. Our family is looking forward to a trip to Colorado at some point this summer to enjoy the outdoors and hit some bike trails out there.
When thinking about Hiley Hunt Wealth Management, for me, it’s been gratifying to watch the relationships that we’ve built with our clients thrive during this time. We’ve had a consistent process and message from the beginning, and to watch that click with our clients and even be repeated back to us has been very validating to me that our partnership is meaningful.
One of the greatest compliments I receive from clients is when they tell me they aren’t worried or feel good about what is going on economically because of the relationship they have with us and the plan we’ve provided them. Our mission is to help people have a better relationship with their money and the best way to do that is to help them understand what is happening and to have a plan so that thinking about your finances doesn’t dominate your day-to-day thinking. It’s been very fulfilling to watch our client relationships and mentorship flourish during this time.