3 Tall Ships Takeaways

If you’ve never been to a Tall Ships event, you should endeavor to do so -- seeing these magnificent ships is quite a site to behold.

I was able to observe a couple of these ancient and also “made to look ancient” beauties sailing into Boston Harbor for a event, and a couple of things really struck me.

First, in this particular case, the Tall Ships were sailing into the Harbor against a pretty strong headwind. Many of the ships have large, square sails and as many skippers will tell you, it’s nearly impossible so sail into the wind with those sails, so they were heading in under motor power. Sailing is faster and cheaper – so whenever possible, get behind a business tailwind! Every industry has headwinds and tailwinds. We should look for those trends in our industry and get behind them. In financial services, those tailwinds are probably fiduciary advice, low cost products and transparent fees. I for one am glad that I’m not sailing into those headwinds.

Second, I was struck by the diversity of ships and the many different ports of origin that were all coming together for this event. Sure, people like to visit one amazing ship like the U.S.S. Constitution, but when ships from all over the world arrive, well, that really turns people out. Diversity is good in many business contexts, but it is especially valuable in long-term investing. Helping you build a high quality, diversified portfolio is one of the most impactful services that working with an Registered Investment Advisory firm can provide.

Lastly, it’s great to see something with such a long history endure. Sure, we sail with carbon-fiber sails and GPS technology, but many of the tools and techniques that were used to sail ships hundreds of years ago are still practical today. “Sailing by feel” is as relevant today as it was hundreds of years ago. That ability comes from years of experience and in many ways, expertise was, and still is, the coin of the realm. In whatever you do, become an expert.

If you would like to meet with an advisor to discuss where your financial ship is sailing, we would love to talk to you and help you captain your way to financial security.

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