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the winnetka current | February 22, 2018 | 17
Mindful Money
Winter Olympic Games offer
lessons in financial management
Kathy Roeser
Contributing Columnist
We’ve been captivated
by figure
skaters, skiers,
snowboarders, bobsledders
and all the rest of the
world-class athletes competing
at the highest level
in the Winter Olympics.
Although thousands
of miles away in Pyeongchang,
our village
boasts an exciting connection
to this year’s games.
Star figure skater Bradie
Tennell trained at the
Skokie Valley Skating Club
housed just down the road
at the Winnetka Ice Arena.
As we cheer on Tennell
and the other Olympians,
keep in mind that the
Olympic Games offer
many important lessons in
money management. Here
are a few takeaways:
Start early
Most Olympic athletes
have trained since they
were very young. Only
years after learning the
basics and refining their
craft have they arrived on
the world stage in South
Korea.
Our approach to money
School News
CEDARVILLE UNIVERSITY
Kristen Doyle, of Winnetka,
was named to Cedarville
University’s dean’s
management should not be
much different. It’s crucial
to discuss and teach core
personal finance concepts
such as saving, borrowing
and paying debts at a
young age. This provides
younger generations with
ample time to grasp the
importance of financial
literacy and develop key
skillsets before they must
assume increased fiscal
responsibility.
Plan for obstacles
From gates and moguls
to slick conditions, jumps
and sharp turns, athletes in
the Winter Olympics must
navigate a wide array of
obstacles before reaching
the medal podium.
Similarly, the path to
effective money management
can be filled with its
own share of challenges,
some easier to navigate
than others. For example,
unexpected emergencies,
student loan debt and economic
conditions outside
of our control are all common
financial challenges
that may inhibit or change
our financial path. By taking
a proactive approach
and planning ahead,
however, once daunting
financial obstacles may
become more manageable.
The planning process
is actually quite similar to
how an Olympic athlete
may develop a detailed
game plan prior to competing
in an event. Building
an emergency fund or developing
a budget are strategies
individuals should
list for the fall semester.
consider incorporating into
their financial planning.
Stay committed
Training for the Olympics
requires a significant
amount of time and
dedication. Many athletes
reach a point where they
question whether they can
actually make it, but unwavering
commitment to
a long-term goal ultimately
pushes them onward.
Just like training, financial
management requires
a certain level of unwavering
commitment. Whether
it be digging out of debt,
consistently putting away
money for retirement or
staying true to your individualized
investing plan,
achieving most long-term
financial goals takes time
and patience.
Maintaining perspective
is key. Consider setting a
few short-and-mediumterm
benchmarks to help
build confidence along the
way to your larger financial
objectives.
Though the Winter
Olympics will soon draw
to a close, many of the
financial lessons derived
from the games can last
well into the future.
Kathy Roeser is a managing
director and wealth advisor
with the Wealth Management
Division of Morgan Stanley
in Chicago. The information
contained in this column is
not a solicitation to purchase
or sell investments. Sources
available upon request.
ILLINOIS STATE UNIVERSITY
Northfield resident Brian
Tyler Wolf graduated
from Illinois State with a
bachelor of science degree
in December.
Christian Heritage students
volunteer in Dominican Republic
SUBMITTED BY CHRISTIAN
HERITAGE ACADEMY
Twenty-nine upper
school students from
Northfield’s Christian Heritage
Academy served on a
January mission trip in the
Dominican Republic as a
part of the school’s January
Winterim experience.
For six years running,
teams of students from
CHA have served alongside
Kids Alive International
in a school and an
orphanage in two locations
in the Dominican Republic,
Carabello and Constanza,
where this year, they painted,
poured concrete floors,
played with school children,
gave love to orphans
and helped in the kitchen
and classrooms.
Students were challenged
ImmedIate
Occupancy avaIlable
emotionally, physically and
spiritually during the trip,
with many reporting their
lives have been changed
and their eyes have been
opened to the plight of the
poor. They had a chance
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Christian Heritage Academy junior Emily Gallagher
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