Everybody Loves a Parade!
The 128th Rose Parade will ring in the new year. The Tournament of Roses parade is a rite of passage for many a family. I grew up watching the Rose Parade on TV and in person. My friends and I slept on the rose parade route to get front row seats. We arrived at the parade route around 4:00 or 5:00 the night before to stake our claim. We spent the next twelve to sixteen hours enjoying the craziness of Colorado Boulevard.
It wasn’t until years later when I realized the Rose Parade just doesn’t happen. It never occurred to me as a young visitor that people plan the parade. It takes years for a parade to come together. Themes are chosen, bands are picked and duties assigned years in advance. I’m sure someone on the Tournament of Roses Parade Committee is already planning the 2018 Rose Parade.
Life is like a parade. Life has a beginning and an end with a whole of stuff happening in between. In life, you’re the grand marshal, drum major, equestrian, float builder, float driver and so on. You get to create your own parade. How can you design your perfect parade?
As we march toward the new year here are a few ideas for your successful route.
· Plan. All successful parades start with a plan. A good plan is what separates a successful parade from a poor one. In January, you’ll have the opportunity to start fresh, out with the old and in with the new. Will this be the year you complete your financial plan?
· Help. The parade doesn’t run itself. The Tournament of Roses has thirty-one committees doing countless activities. The committee members focus on their explicit duty while keeping an eye on the result. The committee members contributed over 80,000 hours of their time for this year’s parade. Can you use some help with your investments? Planning? Taxes?
· Diversify. Bands, floats and horses make for an entertaining parade. The diversification of the parade is what makes it enjoyable. A parade has something for everyone. Your investment portfolio should be diversified as well. Diversification will allow you to participate in all markets.
· Time. The parade covers five and a half miles and meanders down Colorado Boulevard. The leisurely stroll allows spectators to get a long look at the participants. Your investment horizon should take time as well. A patient, long term investor will be rewarded.
· Vision. The first Rose Parade was held in 1890. The original founders had vision. Their vision has benefited generations of parade goers. Will your investment portfolio benefit generations?
I almost forgot. In addition to the parade there is also a football game.
Happy New Year!
A rose by any other name would smell as sweet. ~ Shakespeare.
Bill Parrott is the President and CEO of Parrott Wealth Management. www.parrottwealth.com.
 https://www.tournamentofroses.com/rose-parade, accessed 12/29/16.