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The Importance of Thinking Ahead

4 May 2022

“In life, as in chess, forethought wins.” – Charles Buxton.

There are 32 pieces on a chessboard, and the primary goal of chess is to capture your opponent’s king. Simple, right? But if you’ve seen Netflix’s The Queen’s Gambit, you’ll know it’s not.

And, if you play it yourself, you quickly discover that understanding the game’s outcome isn’t the best way to make the next move. You could also apply this to your finances. Although you know where you want it to be, where do you start?

Many chess beginners will react to the moves of their opponent. This may seem to make the decisions easier, but it robs you of the power to direct the flow of the game. As with your financial plan, you should take control of your finances and not react to the consequences of your financial decisions.

You need to think, and plan, ahead.

Chess grandmasters can see up to 15 moves ahead. A gifted player will constantly be looking for possibilities and protect against the unexpected, and this is what makes it such an intricate and consuming challenge.

It is essential to be able to move quickly and know more about the game than just the ultimate goal. Set short-term and intermediate objectives. It is crucial to have control over the middle of the board during chess, giving you greater mobility while protecting your board. At SFP, we believe that we can enjoy greater financial freedom if the interests at the heart of our lives have been covered.

The best way to achieve long-term objectives is to break them down into small, measurable chunks. This allows us to track progress and gives us milestones upon which we can re-evaluate and revise our strategy. Even though short-term goals may seem insignificant by themselves, it is helpful to remember that there is more at work.

Although it may seem small, the loss of a pawn in chess can be significant. It is considered the slowest of the board’s pieces and offers limited attack potential. But, if the pawn reaches the opposite end of the board, it may transform into any piece you wish. By taking small, incremental steps, you can gain power. Like how investing monthly in an investment portfolio can create amazing possibilities.

Modern computers can beat any chess grandmaster. This is because computers can run thousands of scenarios simultaneously and process enormous amounts of information. We call this “benefitting from collective wisdom” when it comes to financial planning. SFP can provide cutting-edge financial solutions by combining our shared experience with advanced technologies and platforms.

Let’s get in touch if you feel like you’re in a stalemate or are unsure of what your next move should be.

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