Today’s Prep:
Learn how retirement planning is a bit like golf. Grab your sticks, and join us on the proverbial golf course.
(Click the featured times below to jump forward in the episode)
Equipping Points:
[00:47] – Preparing For The Back Nine Of Life.
- Eric wrote a book called Preparing For The Back Nine Of Life. He sees golf as a wonderful analogy for what it takes to retire successfully.
[2:10] – Stop Looking For That Hole In One.
- Many of you are looking for a hole in one in retirement. You’re trying to find that perfect investment that will solve all of your problems. However, there is no hole in one, magic bullet, home run, call it what you want in your investing life. Instead of obsessing over one stock or “one hole,” focus on the entire round. Build a well-balanced portfolio.
[4:37] – What Clubs Do You Have In Your Golf Bag?
- Each club in your golf bag has its own purpose. Your Callaways, Mizunos, and Titleists all help you put your ball in a specific spot on the course. Similarly, each investing tool in your financial plan serves a purpose in your portfolio. Stocks, bonds, REITS, annuities, CDs, etc all work together to further your goals in retirement, and you wouldn’t want to use too many of any one product. Eric uses the story of Bubba Watson to illustrate the importance of club choices.
[8:43] – Use Your Caddie.
- Even the pros turn to their caddie for advice on the golf course. A caddie knows the layout of the course, and they can help you decide when and how to use each club. Similarly, your advisor is indispensable when it comes to providing you with sound financial advice. You need an advisor who will work in your best interest and help you make wise financial decisions.
Today’s Takeaway:
Subscribe To The Podcast:
Apple Podcasts - Google Podcasts - Spotify - Stitcher - iHeartRadio - TuneIn
Check out some other recent episodes
Conventional Wisdom
Should you follow conventional wisdom when it comes to your financial decisions? Eric shares when the conventional wisdom might not be best.
Read MoreRetirement Vacation Planning
Let’s plan the vacation of your dreams: retirement. More than simply a week away, you want to spend the right amount of time and energy thinking about this major season in life.
Read MoreFinancial Things We Can All Relate To
What are we all facing and wondering about in our financial futures? Eric talks through a few topics you might have had on your mind lately.
Read MoreMailbag: Should I Move my Mom’s Money into Investments?
Where’s the best place for your money to go? Several people are considering where their money should be, so Eric answers three questions from the mailbag for today’s show.
Read MoreA Perfect Match: Tennis and Retirement Planning
Ready to ace your retirement plans? Let’s talk tennis and see how much it relates to your financial plans on today’s show.
Read MoreBuilding a Plan for the Long Haul
What do you need to get you through the long haul of life? Eric talks us through what this looks like in your financial plan and how to build it with an eye on a distant horizon.
Read MoreWhat Do You Need to Know About Today’s Inflation?
Everywhere you turn there’s a headline about inflation but what do you need to know about what’s going on? Eric weighs in on the recent numbers and what you can do about it.
Read MoreMailbag: Should I Save Elsewhere Besides My 401(k)?
What kind of savings do you really need for retirement? Are you working with the right advisor to get you there? Eric answers three questions from listeners.
Read More