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June 19, 2008

Who's watching your pack?

Last week, I was in Alaska with the Bora Bora Society, a great group of Snider Method workshop alumni who travel together once a year.  While there, I met an Iditarod racer and his dogs. The racer, called a "musher," explained to us just how grueling the race can be -- more than 1,150 miles through mountains, across frozen rivers, and into dense forest and desolate tundra. All this at sub-zero temperatures, gale-force winds and blinding blizzards. The wind chill was once recorded at -100 degrees Fahrenheit! 

To see the work and training involved in such an endeavor is truly amazing, and I think I could have spent my entire trip just learning about the dogs and the care it takes to cross the finish line.

It takes a steely resolve and a little insanity to even want to compete in this race, and the mushers ought to be admired. But the real athletes, the real stars are the sled dogs themselves, which the mushers treat like their own children.

They were training one young dog -- maybe a little over a year old --  who was obviously new to the game. All the dogs were hooked together and running, but the young one kept turning his head, looking at the scenery around him.

I noticed one of the older dogs, perhaps the oldest in the pack, was right beside him. Every time the young dog broke his concentration, the older one nipped at him to keep him in line.

"We don't really do much training," the musher said. "The dogs really train each other."

That got me thinking about how families treat investing and personal finance. Your family is like a team of sled dogs; you all must work together to navigate the rocky terrain through all sorts of weather. The older, more experienced members of your family need to make sure the younger ones learn how to run the race the right way.

So who's watching out for the young pups in your family? Are you teaching your children and grandchildren good money habits? They won't pick it up in school -- most high school graduates don't even know how to balance a checkbook!

Sure, the younger pups may not appreciate your nipping at them whenever they wander astray. They'll yelp and bite back… but you must keep at it. Your involvement in your family's financial education will serve your pack well.

(By the way, there are more photos from the trip on our Bora Bora Society page on Flickr.)

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Kim Snider is the President and Founder of Snider Advisors, an SEC Registered Investment Advisor, focused on teaching individual investors a sensible, long-term investment approach focused on maximizing cash flow. For more information on Snider Advisors or the Snider Investment Method and how to stop enriching your investment advisors at your expense, please visit snideradvisors.com. Her book, How to Be the Family CFO: Four Simple Steps To Put Your Financial House in Order, will be in bookstores October 1, 2008.

Snider Advisors makes no representation that the information and opinions expressed are accurate, complete or current. The opinions expressed should not be construed as financial, legal, tax, or other advice and are provided for informational purposes only. Call 888-6SNIDER to request the Snider Investment Method® Owner's Manual, which includes a description of the Snider Investment Method, investment objectives, risks, suitability and other information. Please read and consider carefully before investing. All investments, including the Snider Investment Method™ are subject to risk, including possible loss of principal.

Tags: family, iditarod, investing

Posted by Kim Snider on June 19, 2008 | Permalink