On July 16, 1999, John F. Kennedy, Jr., was piloting his plane to Martha’s Vineyard from Essex County, N.J., when he experienced a deadly phenomenon known as vertigo. This phenomenon commonly affects pilots who fly in low-visibility conditions, such as those faced during night flights or flights through clouds without the proper training.

According to the final report of the accident by the U.S. National Transportation Safety Board (NTSB), Kennedy’s disorientation caused the crash that killed him, his wife, Carolyn Bessette Kennedy, and her sister, Lauren Bessette.

What Caused JFK’s Fatal Plane Crash?

Kennedy was a non-instrument-rated pilot. He was not yet qualified to fly using instruments alone. The NTSB report noted that haze and the dark night contributed to Kennedy’s spatial disorientation and loss of control.

Pilots who cannot see the horizon must rely on instruments to tell if they are in level flight or if they are banking. A disoriented pilot can bank a plane into a fatal spiral. The report concluded that the crash occurred to pilot error.

When pilots experience vertigo, they may feel as though the aircraft is turning in a different direction than it actually is. This can lead to incorrect control inputs, which can result in a loss of control of the aircraft.  This can be similar to an investor misreading current conditions and making decisions that are detrimental to their portfolio and planning.

One of Kennedy’s flight instructors offered to fly with him that night, but Mr. Kennedy said ‘”he wanted to do it alone,” the instructor told the investigators who prepared the report.

VFR vs. IFR Flights: Different Requirements for Different Situations

VFR stands for “visual flight rules,” which means that pilots navigate their aircraft using external visual references, such as the horizon or landmarks. IFR stands for “instrument flight rules,” which means that pilots rely on their instruments to navigate their aircraft.

IFR flights require a higher level of training and certification than VFR flights. Pilots must learn how to read and interpret their instruments. Perhaps more significantly, IFR pilots must learn to trust their instruments versus their feelings about where they are.

If Kennedy had the proper training and or another pilot with him who was experienced in instruments rated for the conditions, his death could have been avoided. In the 15 months before Kennedy’s accident, he had flown either to or from the destination area about 35 times.. Within 100 days before the accident, Kennedy had completed about 50 percent of a formal instrument training course. Still, his training was not sufficient for the problematic conditions of the flight he attempted to complete.

The same is true with investing. When people rely on their own limited knowledge and take actions that are detrimental to their long-term plans, it can have devastating consequences for them and their families.

Financial Planning Also Requires That We Rely on Instruments

Just as with flying, it’s important to rely on instruments and experience, versus feelings, to avoid mistakes in financial planning. Although a financial mistake may not take your life, it can be very costly. Such mistakes can be avoided by working with an experienced team.

In today’s world, we are flooded with information. Much of it is inaccurate or incomplete, and much is irrelevant to our personal situations. If you react to the information, you obtain online or from acquaintances, it can cause a “crash” of your portfolio’s value and impact your overall financial planning.

A qualified pilot and crew could have made the Martha’s Vineyard trip easily and without incident. Their experience and their training for the conditions encountered could have made this an uneventful trip. When it comes to financial planning, our highly experienced, credentialed, and competent team can help you navigate the haze of the increasingly complex world of investments, tax management, retirement planning and other areas of financial planning.

We Are Your Financial Pilots…Or Co-Pilots, for Those Who Wish to Fly Solo

Wealth management is about reaching specific destinations safely and on time — and ideally, you want to have fun on the journey. An experienced team can help you reach your destination safely and on time while enjoying each day. Even if you want to be your own “pilot,” it is important to have a qualified team to back you up.

If you want to be the “pilot” of your own financial plan all the time, it’s important to have the proper training and temperament. It is a challenge for one individual to stay current on all the constantly changing tax laws, investment rules and other information relating to the complex field of financial planning. We believe our clients are best served by a team of experts with different expertise.

In flying, training and certification for IFR flights are essential for pilots who want to fly in challenging weather conditions. For pilots who fly only under VFR rules, it’s still essential to learn the basics of instrument flying, in case of an emergency. Pilots should also be aware of the weather conditions and be prepared to divert or cancel their flight if the weather becomes too challenging.

Our team has more than 250 years of combined experience in all types of market and economic conditions. Our advisors have some of the highest levels of training and certification, and our firm continues to be recognized by independent third parties for its ability to help clients land safely. Most importantly, we are focused on you and your vision.

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Randy Carver, CRPC^®, CDFA^®, is the president and founder of Carver Financial Services, Inc., and is also a registered principal with Raymond James Financial Services, Inc. Carver Financial Services, Inc., was established in 1990 with the vision of making people’s lives better — clients, team and community. With this mission, Carver Financial Services has grown to be one of the largest independent financial services offices in the country, managing $2.3 billion in assets for clients globally, as of March 2023. You can reach Randy directly at randy.carver@raymondjames.com and in the office at (440) 974-0808.