Post by Valley Financial Group
“Hear Reason or she will make you feel her.”
The NBA Draft is here again and the Sixers have the number one pick again in the draft (“The Process” has been very painful). Markelle Fultz is more than welcomed. This blog and firm will never say it is impossible, but before you start looking at becoming the next Markelle Fultz, let’s look at the odds of that journey. According to Inspirational Basketball, a high school basketball player has a .03% (about three in 10,000) of making it to the NBA http://inspirationalbasketball.com/odds-of-becoming-a-nba-player/ and NCAA stats show that a college basketball player has a 1.1% chance of getting drafted. http://www.ncaa.org/about/resources/research/estimated-probability-competing-professional-athletics.
Understanding the odds should make you realize that chasing your NBA Dream is going to be a big sacrifice. Steph Curry is 6’3 not that tall by NBA Standards, but considered one of the best basketball players and shooters in the NBA. In high school, he would shoot over 1000 shots before every practice and in the offseason he makes (not misses) over 500 three points shots a day. That is what we call sacrifice and making his Dream reality. Maybe some of us don’t have Steph’s talent or DNA, but if you have his work ethic and fall short of that NBA Dream or any dream, we are pretty certain you will still be in a great place.
This leads us to understanding the odds of calling the stock market correctly. Try this exercise.
For the next 15 business days, try to predict if the S&P 500 will go up or down. The chance of getting this correct is about a 1 in 33,000, to put this into perspective you have a better chance of making it to the NBA.
So to end up in a good place and retire happy, develop a strategy with a financial professional that meets your needs, wants and risk tolerance and can keep you on track to a successful retirement even through the times when the stock market goes south. https://retirehappy.ca/realities-of-stock-markets/