A Different Type of Ted Talk

Ted Lasso is a favorite TV show of the team at Yeske Buie, and it is not unusual to hear a reference or two around the office. For those who haven’t yet had the chance to watch Ted Lasso, the show features American football coach turned (European) football coach, Ted Lasso, as he navigates taking a new role in a new sport in a new country and all that comes with this challenge.

The beauty of the show lies in the lessons Ted shares, which can apply to many areas of life, including your financial journey. Despite the seemingly tenuous connection between soccer and financial planning, the show is a favorite of ours not only for the funny one-liners and the outrageous plot, but for the valuable insights that can guide us towards our financial goals. Here’s how.

Biscuits with the Boss

Early in the show Ted makes a concerted effort to get to know Rebecca, his boss and the now owner of AFC Richmond, through a morning ritual he calls “Biscuits with the Boss”. This morning ritual is not merely about indulging in a sweet treat; it serves as Ted’s way of connecting with Rebecca and getting to know her as a person and her values.

Ted prioritizes understanding those around him due to his strong belief in the importance of values. Ted is so passionate about values that he says, “it’s not about the wins and losses, it’s about helping these [people] be the best versions of themselves”, which for a sports team coach, is quite unconventional. Coincidentally, this approach to coaching was the exact right approach to help his team succeed in the end, and coincidentally, this approach is ingrained in effective financial planning.

Your personal values are instrumental to your financial plan because your plan must be built around what matters most to you. Your life and your time are your most valuable resource. Money is obviously important but is not the goal in and of itself. Money is a tool to be harnessed to help you maximize the size of your life, so you can spend your time and energy on things that make you feel the way Dani Rojas feels about football.

“Believe” in Your Financial Plan

Ted is certainly an unorthodox fit for a major professional soccer program, and he cements that fact when one of his first moves is to tape a yellow rectangular piece of construction paper with the word “Believe” above the locker room. Though unorthodox, the sign comes to represent many different ideas throughout the show. It’s a constant reminder of positivity, resilience, and to believe in oneself, each other, and in the process.

Belief and resilience are core tenets in financial planning for many of these same reasons. Achieving one’s financial goals does not happen overnight and requires belief and conviction in a well-crafted financial planning process. At Yeske Buie, our process is specifically designed to adapt to life’s emerging realities – it is called financial plann-ing after all.

Belief is not simply faith, but a steadfast conviction in a decision or a plan. One constant in life is change, and there will be challenges in everybody’s financial lives whether that’s turbulent markets, shocks to our cash flow, and many others that we cannot even put a name to yet. Some of these events will be out of our control, and in these moments, it may be important to remember why Ted describes the goldfish as the happiest animal (it’s because they have a 10-second memory!).

Believing in your financial plan requires building a plan that is resilient to the shocks that will inevitably come while helping you live out your values and aspirations. Creating and living out this type of plan is not always easy, and we’re here to help because when it comes together, it’s Barbeque Sauce.