An Ode to the Personal Trainer
I always believed personal trainers and physical therapists were a waste of money. There for people who weren't motivated to get to the gym themselves. I was wrong.
I've developed osteoarthritis in my hips. I'm not sure how long it's been there, but the symptoms have presented themselves over the past 18 months. Although I was hoping to receive this news at 65 instead of 35, it's nothing overly serious that can't be dealt with. The point of this piece is not to have a pity party for Matt. It is to highlight that good advice isn't just for those who are the obvious candidates.
I thought I knew my way around a gym. I was an athlete all my life, after all. It's a part of who I am. I was aware of the benefits associated with cross training. I incorporated yoga and Pilates into my routine over the past five years. In my mind, I had the perfect mix going on. In retrospect, I was probably only 75% of the way towards an optimal training program and SEVERELY underestimated how impactful that last 25% could have been.
I did not have the self-awareness to understand that there were areas of training that were lacking. I was not detail-oriented or technical enough to pay attention to areas of my body that were deficient. I did not know what exercises I needed to address those deficiencies, let alone the proper form and technique to execute the exercises. Better training probably would not have stopped OA from eventually developing, as my anatomy was largely at fault. But better training would have helped.
I needed a regimented plan customized for my personal build and future goals/needs. Instead, I got the result of a plan that wasn't good enough. Like any good advice, there would have been a 'cost' to engage in planning with the right team. This 'cost' should have instead been viewed as an investment in my future well-being. And it's impossible for me to put a monetary value on how much that's worth to me. Priceless.
It's obvious that good financial advice can positively impact an individual with low financial literacy. If I can get someone to enroll in their 401(k) right away with automatic deferral increases, it's potentially life changing. But what about a well-versed client? Someone who, on the surface, seems as if they have it all together and may not be in need of advice?
Someone financially literate with good habits already in place is probably 75% of the way there. Good enough? It could be. Putting themselves in the best possible position? Probably not. And as evidenced by my situation, good advice on that last 25% could make all the difference.
A great saver who has accumulated significant wealth is not necessarily equipped to navigate the unwinding of that wealth during the retirement distribution phase. Taking advantage of a 401(k) and Flexible Spending Account at a previous employer does not translate into navigating equity-based compensation at a new startup. Coming into the work force in 2010 and experiencing nothing but decent market conditions doesn't test mettle like going through a bear market.
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In looking back, I would have been more open-minded. More proactive. I discounted any future suffering, and therefore did not act until I was made painfully aware of the problem. Too little, too late.
So what's the solution to getting money advice in the event you believe you've already got the bases covered? Maybe you pay an adviser a fee to undertake a one-time consultation of the situation. Upon going through that evaluation, you can then make a decision to tackle those areas on your own, or decide to develop a relationship with that adviser moving forward. I'm all-in on the idea that planning is a process, and that ongoing council is helpful as circumstances change. But a one-time evaluation that's able to highlight some areas of improvement is better than continuing down a wrong path.
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Moving forward, my strategy stays the same. Stay physically fit, live an active life, and sweat daily. My running and hooping days may be over, but I'll evolve to other things. Same strategy, new tactics.
As you may expect, I have a newfound appreciation for good personal trainers and physical therapists. Engaging them earlier could have helped achieve a better outcome. That said, I'm glad I've had an opportunity to work with them. I've learned a ton, and will set myself up more appropriately moving forward.
So yes - seeking good advice (on fitness, money, anything) can change your life, even if you've been successful up to this point in time on your own terms. You don't know what you don't know.
