One Wealth Perspectives

Yesterday – which happened to be January 1st, I was in my living room, on my bike, which I was riding via an app called Zwift and a machine called a Wahoo Kickr, both of which allow me to simulate real road riding right in the comfort of my own living room. I was also watching my favorite soccer team Liverpool FC, beat up on archrival Newcastle in the English Premier League, 3,000 miles away in Liverpool, UK. In the throes of a 250-watt push on the Champs Elysee’ in Paris (the app video simulates cities all over the world), I began to think of how easy it is to be alone these days.

At One Wealth Advisors, a primary driver behind the growth of our business has been from client referrals. Our philosophy has been that the more we focus on client service and planning, the more clients might be inclined to introduce us to a friend, family member or any other individual in their network. Upon being introduced to a prospective client, oftentimes we are asked, “What is your minimum?” When we first started One Wealth my favorite answer was to say, “Our minimums are nice people!”

I recently sat in on a presentation on Artificial Intelligence. What struck me was all the capabilities that AI offered. If you understand how to properly prompt it with questions, it can be very efficient. AI can automate repetitive or mundane tasks, reducing workload and human errors. For example, it can record a conversation and summarize what was said concisely and accurately in a nanosecond. I believe this new technology will save time and perhaps reduce the need to add headcount, in some cases at the expense of eliminating jobs. However, in reducing the need for hiring and training additional staff, AI is cost effective.

If someone asked you today, how do you feel about the economy, what would you say? What about the stock market? If you follow the news, what is your perception of 2023? These questions may feel quite loaded, but they have been on my mind as we approach the end of the year. 

About five months ago, I wrote a One Wealth Perspective on an important goal I had set out to achieve: passing the CERTIFIED FINANCIAL PLANNER exam. On Friday, November 3rd, after 14 months and approximately 1200 hours of studying, 170 questions and 6 hours in a cubicle at a Reno testing center, and maybe a few tears later, I did just that.

Last week, WeWork, a company known for the lofty goal of creating community in the office space, filed for bankruptcy. WeWork was my first job out of college, my introduction to San Francisco, and a teacher of what I value in the workplace.

For those of you that know me well, you know I have a tendency to take on projects that consistently challenge me – and the results have often been incredibly satisfying once the project is in place. One of the ways that I increase the chance that I will take action when I have inspiration is to share the idea with those in my sphere. By doing so, I become accountable to anyone I have shared the idea with. The accountability becomes highly motivating, as I am someone who is proud to be a person others see as doing what I say I am going to do.

Did I scare you? You want to know what’s been scaring me lately? Unprecedented weather. The ceiling of my room, which is the shape of a coffin. A death count over 9,000 and what the number will be when it’s all over. Recurring-Thoughts-of-Death Barbie. Angry, lonely men with guns. Being angry, but mostly, being lonely. The ubiquity of horrors. How inured we’ve all become to empathy. Now I’ve made you scared and depressed. Which is exactly where I wanted you because I’m about to lift your ghostly spirits by telling you why I love Halloween. And why you should too.

As you may have seen, heard, or read, there was a very short lived trend last month on TikTok, X, and Instagram Reels that uncovered a subset of people that apparently ruminate on the Roman Empire with a shocking frequency. I’m not one of them. But the meme did cause me to step back and ask ‘Well what random thing DO I spend an inordinate amount of time thinking about?’ For me, at least over the last decade, I think that ongoing thought in my head revolves around demographics.