Sometimes Taking The Penalty Is The Smart Play

Sometimes Taking The Penalty Is The Smart Play

I love hockey. As I write this, the third round of the playoffs is in full swing and the only thing that isn’t awesome about it is that my team isn’t playing. Sad face emoticon.

As in all sports, there are rules. Sometimes players break those rules and there is a consequence. In hockey, that usually takes the form of a player being sent to the penalty box for a period of time and his team being shorthanded on the ice for the duration of that penalty. It is a pretty significant disadvantage for the team that is down a player, and sometimes it results in a goal against (statistically about 1 in 5 times, but that varies depending on how good the players are). Once in a while, the shorthanded team will score (a much, much lower statistic that I am too lazy to Google at the moment). The outcome of a game can turn on a penalty and a resulting power play goal. Coaches bench players over it. The ‘skate of shame’ back to the player’s bench from the penalty box after a goal is scored during a penalty the player took is one of the most dreaded moments a player can experience. Generally, it is considered a bad idea to take a penalty.

Generally.

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For the Boomers - Did Travis McGee Have It Right All Along?

For the Boomers - Did Travis McGee Have It Right All Along?

My dad turned me on to Travis McGee when I was in the army.  This was probably natural since he discovered McGee while he was in the navy during the Viet Nam war.   

Author John D. MacDonald’s most famous character, Travis McGee, resided in Ft. Lauderdale on a houseboat aptly named the Busted Flush which he won in a poker game.  McGee called himself a “salvage consultant” wherein he recovered stolen or swindled items for a victim, keeping half of the recovered item’s value for himself.  In the purest sense, he was an entrepreneur, working for himself and taking only the clients he wanted.

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When Scraping By Isn’t

When Scraping By Isn’t

A client recently asked me to meet with his friend to talk about commercial real estate brokerage.  This friend was interested in making a career change and wanted to talk with someone in the real estate business.  He was trying to decide between the residential and commercial sectors.

Ethan (not his real name), is 30 years-old and was being laid-off by his current employer.  He started working immediately out of high school and had a good job.  Unfortunately, as with most people, he was at the mercy of his employer.   They could no longer afford his salary and gave him notice that they were letting him go.  Ethan is married with three kids and a fourth on the way.  His face lit up when talking about his family.

Ethan is a Dave Ramsey follower, having brought EntreLeadership with him to our meeting.  He’s also read the various investing books such as Rich Dad, Poor Dad.  He was very bright and I enjoyed talking with him.

Ethan’s in-laws were selling him and his wife a rental home under market value.  He was very excited about this opportunity and said he would flip it once the repairs were done.  I asked him questions about retaining the property for cash flow versus flipping it, but it was clear he had a vision of a single paycheck in his eyes.  Everyone has a different journey regarding real estate and mine wasn’t the same as his which is okay.

What gave me pause, though, was a statement he made because it was something I’ve said before and I’m sure countless others have said as well.  At one point, Ethan shook his head and muttered, “I’m tired of just scraping by.”

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