It’s Enough | Wisdom, Wealth, and Wellness

Jonathan Satovsky
CFP®, ChFC®, CIMA®, CPWA®, CDFA®, DACFP

Good morning, good afternoon, good evening. Depending on the part of the world you’re in. This is Jonathan Satovsky of Satovsky Asset Management. And on today’s episode of “Seeking Wisdom, Wealth, and Wellness,” I want to talk about expectations and what’s good enough.

I was watching the documentary about Madoff’s $50 billion fraud back in 2009, which happened over 30 to 40 years— and thought to myself, “Man, there are so many lessons about people’s envy, and greed, and needing to be right at every moment, and to walk on water, and to create this guru status, or to be able to do something exceptional.”

Well, in finance, you don’t have to do anything super exceptional. You could do things kind of boring and own the market averages. You could own the collective conscience of everyone’s knowledge.

Now, it’s a roller coaster. You’re going to live with highs, you’re going to live with lows, you’re going to live with excitement and disappointment. But capitalizing over 20, 30, 40, 50 years of your life, of the collective conscience of capitalism in the United States and around the world, owning profitable businesses that are striving to do better and to provide goods and services for people in life is very, very fruitful. It’s not sexy, it’s boring, but it works.

So, stop seeking gurus. Stop seeking anybody that’s going to have to walk on water. Be OK with enough. Don’t have envy of other people, and just do your thing, on your path to Wisdom, Wealth, and Wellness.

It’s a reminder for all of us.

Have a great day.

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Video Recorded January 10, 2022
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Disclosures

This blog post is not intended to be, nor should it be construed or used as, an offer to sell, or a solicitation or offer to buy any securities or interests in any strategy offered by Satovsky Asset Management, LLC (“SAM”). SAM is a registered investment advisor with the Securities and Exchange Commission – for more information see www.adviserinfo.sec.gov. Please remember that different types of investments involve varying degrees of risk, and that past performance is not indicative of future results. Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the strategies recommended or undertaken by SAM) will be profitable. Market index information shown herein is included to show relative market performance for the periods indicated and not as standards of comparison. The market volatility, liquidity and other characteristics of SAM’s portfolio composition are materially different from the securities listed on public market indices. Market index information was compiled from sources that SAM believes to be reliable. No representation of guarantee is made hereby with respect of the accuracy or completeness or such data. Opinions are as of date of video and are subject to change. A copy of SAM’s current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request. SAM undertakes no duty to update information presented herein.

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