Building a Winning Financial Plan – Is it Like Building a Winning Football Team?
Like many around the world, I was caught up in World Cup fever over a period of five weeks. Late nights, less sleep and a little more caffeine than usual had become part of the routine. Even my dog Ritchie was affected as he was unaccustomed to interrupted sleep.
As I watched the matches unfold, something struck me. It was not how terrible Argentina were in the final against Spain.
The Similarities between Football and Financial Planning
Football teams and financial plans may seem completely unrelated, but the more I observed the teams at work, the more I realised how similar they are.
A football manager does not simply pick eleven talented individuals and hope for the best. He builds a team. Each player has a role. Some are there to defend. Some control the flow of the game. Some create chances. Some are expected to score.
A good financial plan works in much the same way.
When we look at a person’s financial situation, we should not be looking for one product or one solution to do everything. Instead, we are trying to put together a portfolio of financial solutions, each with a specific role to play.
Some solutions protect. Some provide stability. Some create income. Some help with wealth accumulation.
The key is not to ask, “Which product is the best?”
The better question is, “What combination gives this person the best chance of achieving his or her objectives?”
In football, everyone loves the strikers. They score the goals, make the headlines and often receive the loudest cheers. But no serious football manager would field a team made up entirely of strikers.
A team full of attackers may look exciting, but it can also be badly exposed. Without defenders, the team may concede too easily. Without midfielders, the team may struggle to control possession or move the ball effectively.
On the other hand, a team made up entirely of defenders has its own problem. You can ‘park the bus’ and it may be difficult to break down, but if it cannot score, it may not win many matches either.
Financial planning is similar.
Some people are heavily focused on protection. They buy multiple insurance policies and worry about every possible risk, but they may neglect wealth accumulation. Over time, they may be well-protected, but they may not have enough growth assets to build the retirement lifestyle they want.
Others go to the opposite extreme. They focus almost entirely on investments. They chase returns, look for the next opportunity and place most of their attention on growing wealth. But if they neglect protection, one unexpected illness, accident or loss of income may undo years of effort.
Neither extreme is ideal.
Protection, Stability and Growth. Defenders, Midfielders, and Strikers.
Just as winning football requires balance between defence, midfield and attack, a sound financial plan requires balance between protection, stability and growth.
The defenders in a financial plan are the tools that protect what matters. These may include term life insurance, critical illness cover, disability income insurance and hospitalisation plans.
Their role is not necessarily to generate wealth. Their role is to ensure that when life launches a counter-attack, the financial plan does not collapse.
For example, a young family with children, a mortgage and one main breadwinner may need a stronger defensive line. If the breadwinner falls seriously ill or passes away prematurely, the family’s financial responsibilities do not disappear. The mortgage still needs to be paid. The children still need to be supported. Day-to-day expenses continue.
In such a situation, protection is not a luxury. It is part of the basic structure of the financial plan.
But defence alone is not enough.
A football team that only defends may avoid heavy defeats, but it may struggle to win. In the same way, someone who only focuses on protection may be safe from certain risks, but may not accumulate enough wealth over time.
This is where the strikers come in.
In financial planning, the strikers are the growth assets. These may include equities, unit trusts, and other investment instruments. Their job is to create opportunities and help grow wealth over the long term.
If your goal is wealth accumulation, you need your forwards to be firing. You cannot expect to reach every long-term goal by relying only on safe, defensive tools. Protection may prevent financial disaster, but it does not usually create significant long-term wealth.
This is especially relevant for younger individuals with long investment horizons. If they have time on their side and can tolerate market volatility, they may need a greater allocation to growth assets. In football terms, they may be able to field a more attacking side.
Of course, strikers can miss. Investments can be volatile. Markets do not move in a straight line. But without growth assets, many people may find it difficult to keep pace with inflation, build retirement capital or achieve financial independence.
Between the defenders and strikers, every good team also needs midfielders.
Midfielders may not always get the headlines, but they are often the ones who keep the team functioning. They link defence and attack. They control the tempo. They provide structure.
In a financial plan, this role may be played by CPF savings, annuities, endowment plans, whole life plans and other longer-term instruments that provide stability, discipline or predictable income.
These may not be the most exciting parts of the plan, but they can serve an important purpose. They can help provide a base of certainty, especially when approaching retirement.
For example, someone in their 50s or 60s may no longer want a plan made up mostly of aggressive “strikers”. At that stage, having more dependable sources of retirement income may become more important. The objective may shift from pure accumulation to sustainability, income and peace of mind.
This is why there is no one-size-fits-all formation.
Why Financial Planning Requires a Change of Tactics, Just Like in Football
A football manager changes his tactics depending on the players available, the opponent, the scoreline and the objective of the match.
If the team is chasing a goal, he may introduce another attacker.
If the team is protecting a narrow lead, he may strengthen the defence.
If the midfield is being overrun, he may adjust the shape of the team.
Financial planning should be approached in the same way.
A young professional with no dependants may require a very different setup from a young parent with children. A business owner may need different protection from an employee. Someone who is five years from retirement should not have the same financial formation as someone who has just started work.
The question is not whether protection is more important than investments, or whether investments are better than insurance.
That is like asking whether defenders are more important than strikers.
The answer depends on the objective.
If you are trying to avoid losing, you may need more defenders. If you are trying to win, you need players who can score. If you are trying to control the game, you need a strong midfield.
Most of us need all three, but in different proportions at different stages of life.
This is also why financial products should not be viewed as competitors. They are not all trying to perform the same role. A term plan, a whole life plan, an annuity and an investment portfolio are different tools designed for different purposes.
The danger comes when we expect one tool to do everything.
Investments should not be expected to provide guaranteed protection against premature death or disability. Insurance should not be expected to deliver the same long-term growth potential as equities. Cash savings should not be expected to beat inflation over the long run.
Each player has a role. Each solution has a purpose.
A good financial plan is not about owning the most products. Neither is it about chasing the highest returns or buying the most insurance.
It is about putting the right team on the field.
Conclusion
As we enjoyed the World Cup, it is worth observing not just the goals, but the entire team at work. The goalkeeper making a crucial save. The defender blocking a dangerous attack. The midfielder controlling the rhythm. The striker converting the chance when it comes.
That is what makes a team successful.
And that is what makes a financial plan effective.
There is no perfect football formation. There is no perfect financial plan. There is only the right setup for the objective, the situation and the individual.
Because in football, as in financial planning, success rarely comes from having eleven of the same player. It comes from building the right team.
Article by Leon Loh
Email: leon.loh@gen.com.sg
Written in July 2026.
The writer is a financial consultant representing GEN Financial Advisory Pte Ltd
