How can the words of Winston Churchill help you in your financial life? We apply some of his quotes to your financial decisions in today’s podcast.
(Click the featured times below to jump forward in the episode)
Some of the wisdom and quotes from Winston Churchill can apply even in our financial decisions. Today we’ll discuss a few key quotes and find out how they can
Churchill said “We shape our dwellings and afterwards our dwellings shape us.” When it comes to establishing patterns, your budget operates similarly. Have you set a budget? Budgets don’t all have to be bad or restrictive, but a useable tool.
Speaking of tools, do you ever make things more complicated than they need to be? Remember the tried and true principles in order to create your plan. Don’t be chasing all of the new and shiny things that may have different risks than you are accustomed to.
When you reach retirement, you may feel a sense of victory and accomplishment. But, remember to not lose sight of what it took to get there. Retirement will still have challenges and will require effort to have the lifestyle you want.
History often repeats itself. Churchill said, “The farther backward you can look, the farther forward you can see.” From an investing standpoint, many of us only look at a short timeframe such as ten years. It may be worthwhile to look a bit longer. Stress test your investments to see how your plan works.
Listen to the entire episode to glean Churchill’s wisdom or click on the timestamps below to hear more about a particular quote.
[1:14] – “We shape our dwellings and afterwards our dwellings shape us.”
[2:57] – “We must be aware of needless innovations…”
[5:12] – “The problems of victory are more agreeable than those of defeat…”
[7:08] – “The farther backward you can look, the farther forward you can see.”
“Just because you made the main goal—celebrate that victory—but don’t lose sight of what got you there. Keep on doing what you’re doing.“
Check out some other recent episodes
What do couples tend to argue about when it comes to their money in retirement? Eric talks through what you need to do to get on the same page.Read More
Looking for a way around paying for long-term care insurance? Will an inheritance cover it? Eric answers this question and two others from the mailbag.Read More