Labor Day weekend means different things to different people. In Milwaukee, you’ll hear the growl of hogs as they head to the Harley Anniversary Celebration, and “Up North,” folks are spending one last weekend with a toe in a pine-lined lake. Some are looking forward to the sound of whistles and crowds as college football kicks off.

Others are locked in on a completely different football tradition: fantasy football. Decades ago, folks pored over fantasy guides and the back pages of the newspaper. Today fantasy owners rely on hours of podcasts, web research and mock drafts.

Most fantasy players agree there’s a strong element of luck involved in fantasy football, from where you draft to whether or not your stud running back gets turf toe. Still, year to year, some fantasy football owners seem to routinely do well.

Sometimes you’ll see the same sort of success experienced by some investors. No one can predict the markets. Still, some investors seem to routinely do well.

It might not be as much a coincidence as you think. There are some traits that good fantasy owners share with smart investors.

Yes, making one great pick can help take the pressure off the rest of your moves, but investing and fantasy football both require many good choices. Successful choosers tend to make decisions based on a set of underlying rules or beliefs in pursuit of a vision.

From an investing standpoint, diversity of choices helps create a balanced portfolio that isn’t overweight in a sector or region. It’s the equivalent of avoiding picking every member of the same NFL team in your fantasy draft.

A good fantasy owner tends to study details – from the fantasy league’s own scoring rules to NFL coaching philosophies, to determine which players may return the highest points from week to week. Understanding the available options helps you determine fundamental points, like when players have byes and why some running backs only play on third down.

Similarly, a smart investor often researches to understand all the different variables that could impact a potential pick. He or she will have a clear idea of their own risk tolerance and if the investment fits into overall goals.

One of the most remarkable developments in media is its insatiable need to collect, prepare, and deliver headlines. Most news organizations – including fantasy sports – work on a 24-hour news cycle, which could make it difficult to determine if you’re watching good investing insight or a headline chosen by a hype machine.

Yes, the talking heads sitting at impressive desks say that a team’s defense isn’t coached well, but remember to temper insights you hear with your own research and advice from your trusted experts.

Market coverage is no different. Often, the headlines rolling by on tickers can seem “official,” and they may be valid – but they also may be a way to fill one of 24 hours that need to be produced every single day. Try not to fall for the hype.

You’ll see it year after year – a team has a slow start, or a player has a few bad games, and fantasy owners panic. They’ll drop a good player, trade them at a loss, based on limited data…and then see them flourish on someone else’s roster.

Making snap decisions may cause regret later. In investing, markets sometimes hit volatile patches, and a lack of discipline may mean you’re not confident in your plan or why you chose the portfolio you did.

Sure, it’s important to be situationally aware – but it’s also critical to build a strategy you trust, and then stay disciplined and take the long view.

The big difference between fantasy sports and investments is obviously the stakes. No matter how many matchsticks you’ve bet on your fantasy team, it won’t have the same lasting impact on your retirement and legacy.

But identifying how emotions and strategies involved in both endeavors align could be enlightening, and hopefully helps you get a firmer grasp on how to manage your thoughts and emotions.

You don’t have to manage your investments and retirement planning alone. Annex Wealth Management has a team of experts ready to walk through your goals, your current state, and then help you build a strong strategy.