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
Unlikely Wisdom From Unlikely Voices
You might not expect to gain wisdom from these popular celebrities. To be honest, these quotes weren’t intended to be about finances either. However, there’s plenty of retirement planning wisdom we can learn from these personalities.
Read More
Misconceptions With Annuities
Sometimes annuities are misused or misunderstood, but annuities can be powerful tools if you know how to use them properly.
Read More
Excuses, Excuses, Excuses – Stop Making Them
What’s your excuse for doing one thing over another when it comes to finances? Sometimes you want to justify your actions instead of thinking through what is actually best for you and your money. Here are three common decisions people make and why the excuses just don’t add up.
Read More
Technology For Retirement Planning
There are all sorts of online tools out there for financial planning. We’ll talk about some of the various technologies and tools to choose from as you prepare for retirement.
Read More
4 Things March Madness and Retirement Planning Have in Common
What does your March Madness bracket have to do with financial planning? More than you might think!
Read More
Why Retirement Planning Ain’t What It Used To Be
You’ve heard your parents discussing how difficult things used to be. We’ve all heard the adage about walking uphill both ways in the snow to get to school. However, reality suggests retirement planning actually used to be easier than it is today. Find out why.
Read More
3 Questions You Should Ask A Potential Advisor
When shopping for a potential advisor, you want to find the right fit for your needs. Ask each candidate these three important questions.
Read More
The Financial Water Wheel
On this podcast, we love a good analogy. Join us as we discover what we can learn from retirement by observing a water wheel.
Read More
Episode #27: It’s Time To Talk About RMDs
Required minimum distributions can easily slip through the cracks of your retirement plan. As tax day 2019 is approaching, understand the impact RMDs will have on your finances.
Read More
Episode #26: Taking Care Of Family
Part of retirement planning includes taking care of family. After all, you’ll want to make sure your loved ones have what they need after you’re gone.
Read More