Big Hits in Neyland

Many of you are likely aware of Topgolf’s ambition to come to the Knoxville area. However, if you aren’t familiar, Topgolf is a family-friendly entertainment venue that includes a target-based golf driving range, complete with food, drinks, music, and an ambiance everyone can enjoy, regardless of your actual golf skills. Having experienced Topgolf a few times in the Atlanta area several years ago, I can say with all certainty that I’m excited to see the concept come to Knoxville!

Topgolf put on the “Topgolf Live Stadium Series” at Neyland Stadium back in May to celebrate this news. Our team was fortunate to participate in the event, which allowed us to hit golf balls from the stands down onto Shields-Watkins Field. Large, inflatable targets were strategically placed to create the game. Hitting the various targets awarded different points depending on how difficult the target is to hit. For example, closer and larger targets award fewer points than the smaller targets further away. Ultimately, the goal is to score as many points as possible with the limited number of shots assigned to each player. A shared screen keeps score and provides information on how each stroke is hit and landed on the field among the targets, allowing for a fun and friendly competition among players.

In the stadium event, I found it fascinating how each golfer came up with a strategy to accumulate the most points. Some went for the higher probability, lower point targets in hopes of consistently scoring points with as many shots as possible. Others “swung for the fences” by choosing to aim at the small, high point targets at the end of the range, hoping to score a few lucky shots. Finally, others hit balls in the general direction of the field in hopes this random strategy would somehow work out.

This decision-making process is very similar to what I see and hear from investors every day. Clients ask if they should go with the low-risk strategy of hitting the most prominent target by choosing more conservative investments in their portfolios. Others ask to go for the tiny target at the back end by buying an individual stock in hopes they’ll win big. Some have even admitted to having no real strategy; instead, they randomly hit balls into the field by saving money when and where possible, hoping it all works out. At the end of these questions, we typically respond with another question: Why? Maybe after thinking about what we are ultimately trying to achieve, we’ll discover it might not be prudent to invest 100% conservatively, 100% aggressively or randomly with no professional guidance.

Diving into a discussion about what is most important to us paves the way to monitor our decision-making process and back-test our actions against our core values. How you invest your hard-earned dollars should have less to do with a hot stock tip, media-instilled fear about the market, or a series of random strategies and accounts which all move in different directions. Instead, it should have more to do with your holistic plan and an understanding of how much risk is required to achieve your goals. Although investing is much more complicated than Topgolf, I’ve seen many different strategies work when assigned to the proper situation. We are all trying to win our own game in life through accomplishing our goals and surpassing milestones in life, and there’s no one-size-fits-all approach.

If you are not confident your wealth aligns with your priorities, or if you don’t understand the importance of each piece of your financial puzzle, we can help. Rather than assigning a product or strategy first, we’ll get to know you and help you discover your values on the front end. Only then can we be in a position to determine if you should be hitting the easy targets upfront or chasing the stars at the back of the range.

Skee Orr, CFP®, AIF® is an Adviser with Rather & Kittrell. Skee is available at [email protected]