Mike Milligan uses September 8, 2001—the day before 9/11—to explain why financial planning needs two parts: strategies for predictable events like Venus beating Serena at the US Open, and resilience for the unpredictable shocks nobody sees coming. Every plan should survive the unforeseen.
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On Saturday, September 8th, 2001, 25 years ago, Venus Williams successfully defended her US Open title, defeating her sister Serena 6-2, 6-4 at Arthur Ashe Stadium. That same day, Nebraska and Notre Dame, 2 of college football's heavyweights, met in Lincoln. Nebraska took it 27-10. Uh, Saturday night felt just like any Saturday night. The weekend was still to come on Sunday. I bring, I bring this up not to be dramatic. I bring it up because as financial professionals and clients who work with financial professionals, we plan for the moments we can see and we prepare for the moments we cannot. That is the whole job. Every financial plan I've ever written is designed to survive the Tuesday morning nobody can predict. We'll talk more about that on Friday. And that's what one of a kind means.