The Cubs win the World Series! We all thought that was pretty funny and far-fetched when seen in a 2015 newspaper headline of the fictitious future in the film Back to the Future Part II. It might actually come true this year (to the hopes of Chicago fans worldwide), but reality tells us that when attempting to predict the future, we rarely get it right. Where are the flying cars, self-tying shoes, and weather reports accurate to the second that the film also showed us?
If there was one item from the movie that we all wish we could have, it’s the sports almanac. If you recall, this volume of sports statistics finds its way back from the “present-day 1985” and, because of the information, changes the “original future of 2015” in unimaginable ways. This concept is familiar in a few movie plots with the fantasy of having information ahead of when it happens and profiting from that. Perhaps you have even thought, “Wow, if I could just go back in time and have invested a few dollars in Apple…” -- fill in the rest of that sentence with champagne wishes and caviar dreams.
Now that we have arrived in the actual 2015, it doesn’t quite look like the future that Doc and Marty found in the film. But more importantly, we realize that a small change in the present could majorly affect the future. Financial advisers face a similar challenge, as they are expected to accurately predict the future movements of the markets and economy for their clients. Without a crystal ball or sports almanac, though, your adviser can still help you meet your future goals and avoid some of the unpredictable twists along the way.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Think of your adviser more like the captain of your financial ship. You sit down in your first meetings to discuss your goals and plot the initial course to reach that destination. The journey will take some time, and the seas may appear calm now, but it’s a big ocean out there. When the winds pick up, or an unexpected hurricane comes in, the ship may veer off course. But your captain knows where the eventual destination is and makes course corrections to get back in line with the goal. All the while, you stay a passenger on the ship, enjoying the dining rooms, entertainment and other amenities, confident that your captain will eventually arrive in the port you signed on to travel to.
Here in our 2015 reality, we have already been through some turbulent waters this year. Perhaps it’s time to see if your portfolio needs a course correction? Check in with your adviser to reaffirm your goals, or update him or her to match the destination you hope to arrive at in the future. Because just like a real ship in the ocean, without periodic course corrections, you may find yourself at a destination that looks quite different from the one you thought you were headed to. Your adviser can’t travel back in time with you, but keeping an open communication between the two of you will reduce the likelihood your future looks radically different than the one you planned for.
Kevin Kaplan is a partner at Silicon Hills Wealth Management in Austin, Texas. He is passionate about photography, travel, pizza and live music.
-
Dow Dives 542 Points on Soft Jobs Data: Stock Market TodayThe last day of a busy week ends with the first greater-than-1% move in either direction in more than a month.
-
Already Hit Your 401(k) Limit in 2025? Here's What to Do NextMaxed out your 401(k) contributions, but still want to tuck away money for retirement? Here are seven ways you can take advantage of being a super saver.
-
How Much Income Will an Indexed Annuity Get You? An Annuities Expert Lays Out the NumbersGuaranteed lifetime income sounds great, but how much will it be? Several factors determine your future payout on indexed annuities with an income rider.
-
Financial Fact vs Fiction: Why Inflation Is Lower, But Prices Are NotDo you think bonds protect you from stock losses? Are you confident your assets will go to your intended heirs if all you have is a will? Think again — and read on for other myths that could be leading you astray.
-
I'm a Personal Finance Expert: Here's the Truth About Using AI to Plan Your RetirementAI can be a useful tool, but it often gets important financial information wrong. It also can't emulate the empathy, judgment and personal connection you can get with a human being.
-
You Don't Have to Be Wealthy to Need a Wealth ManagerNavigating complex financial decisions is hard on your own, no matter how much money you have. A wealth manager can provide comprehensive financial planning, investment management, risk management and more.
-
Despite Tariffs, These Investment Experts Are Bullish on European EquitiesEuropean equities were one of the better-performing investments during the first half of 2025. They could be a good long-term prospect for U.S. investors needing to diversify, according to these investment managers.
-
How Do You Know You Are Ready for a Gray Divorce? 15 Yes-or-No QuestionsAs more people 50 and older get divorced, many splits are initiated by women who want a new path. Answer these 15 questions to see if you might need to think about how you should move forward.
-
'Buy Now, Pay Later' for Everyday Spending? This Financial Pro Thinks It's Risky'Buy Now, Pay Later' apps can get you out of a jam when you need money quickly. But using them regularly for small purchases could create problems.
-
Five Things to Consider Before Rolling Your 401(k) into a Roth IRAConverting at least some of an old 401(k) to a Roth IRA can offer long-term tax benefits and retirement flexibility, especially if you anticipate being in a higher tax bracket later or wish to leave a tax-free legacy.
