March 21, 2023

Stephen McGee ’08 ’09, CFP, is well known for his gridiron leadership, having quarterbacked for the Aggies, Dallas Cowboys and Houston Texans. Today, as a “Financial Quarterback,” he uses his football experience to develop game-winning financial strategies for clients. Huddle up with the QB below to learn his top plays. 

It's all about the fundamentals. 

Defensive coordinators preach the fundamental of tackling more than anything. What a concept, right? For financial planning, how about this concept: save! Consumerism is the American way—we’re always buying temporary “stuff.” I challenge my clients to save enough for tomorrow to retire well. When considering a splurge, ask, “What would my future self think about this decision?” A big misconception is that someone can’t achieve great wealth simply by saving. One of my oldest clients is the typical, hardworking American who averaged around $55,000 per year during his career. His father instilled in him the idea of saving early on, and he stayed invested through multiple bear markets. He is now very wealthy, and it wasn’t because of his paycheck  

Play the long game. 

I always tell my clients, “You invest based on probabilities.” If you call a football play on third and long, you’re calling based on game film and what your opponent’s defense typically runs on that down and distance. Investing is the same. Timing the markets has not been a proven strategy that equates to wealth. Fear causes people to make emotional decisions that come at a costly price. Some of my current clients were invested during the Great Recession, and they cashed out at the bottom of 2009 because they thought, “This time, it’s different.” Thinking this way is dangerous because markets have historically rebounded to all time highs. People have been richly rewarded for staying invested and being opportunistic in volatile times.  

Take advantage of conversions.

Want to learn how you can work a charitable giving strategy for Texas A&M into your game plan? Contact Kevin Westerman '11 below.

Disclaimer: This article is intended to share general information on financial planning and should only be referenced for general advice. Readers should seek professional guidance to better understand the best plan for their individual needs.