Today’s Prep:
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.
Equipping Points:
1:07 – Lindsay Lohan On Owning Your Problems.
“I’m my own worst enemy, and I know that.”
- Acknowledge your problems, and own them.
- Stop trying to justify poor financial decisions.
- There are no magic tricks or secrets to getting ahead in the stock market. You must follow a long-term investing strategy.
- Behavioral investors let their emotions get the best of them. They get excited and buy when the market is high, and then they panic and sell as it drops. A savvy investor follows a strategy. They aren’t driven by emotions.
5:00 – Rosie O’Donnell On Being Wary Of The Media
“Anybody that you put on TV for five hours a week is bound to say something stupid at some point.”
- We live in a 24-hour news cycle, and sensational news sells.
- News channels appeal to their listeners. You’re going to listen to the channel you find most appealing.
- Be wary of the financial advice you receive from television personalities.
3:57 – Mike Tyson On Changing Plans
“Everybody has a plan until they get punched in the mouth.”
- You think you know what you’re doing, and then you face one of those “life happens” moments. Suddenly, you need to change your plans.
- An illness, early retirement, or layoff could all force you to change your plans in retirement.
- Be ready to adjust your plan.
Today’s Takeaway:
“Work with an advisor who gives you confidence and fights for your best interest. – Retirement Ready“
Subscribe To The Podcast:
Apple Podcasts - Google Podcasts - Spotify - Stitcher - iHeartRadio - TuneIn
Check out some other recent episodes
Bracket Busters and Stock Flops: The Risky Game of Picking Winners
March Madness is here, and just like filling out a bracket, picking individual stocks can feel like a thrilling gamble. But the odds of winning big are slim. In fact, history shows that most stock picks, like most brackets, end up busted.
Read MoreAre Hidden Fees Draining Your Retirement Savings?
In this episode, Eric reveals the true cost of investing and how to protect yourself from unnecessary financial drains.
Read MoreWhat Game Night Can Teach Us About Financial Planning
In this episode, Eric breaks down the surprising financial lessons hidden in classic board games, offering valuable insights to help you navigate your retirement strategy.
Read MoreMailbag – Upsizing, Financial Advisors & Business Owner Planning
Join us as we answer questions about the challenges of downsizing, the emotional aspects of planning for family gatherings, and the realities of transitioning into a financial advisory career.
Read MorePlanning for Kids, Grandkids, & Your Future
As many nearing retirement age are discovering, adult children and grandchildren can significantly influence financial strategies, making it crucial to understand how to navigate these relationships effectively.
Read MoreFinancial Planning Conversations for Couples
This episode is focused specifically on that planning we do with couples with insights on how we help them navigate tricky conversations about money and retirement.
Read MoreIs Your Retirement Based on Wishful Thinking?
Many people fall into the trap of wishful thinking when it comes to what they expect will happen in retirement, but a successful retirement isn’t built on hope and assumptions.
Read MoreSpending With Confidence in Retirement
Eric shares strategies to help retirees enjoy their savings while ensuring financial security.
Read MoreWatch Out For These Financial Half Truths
Eric pulls back the curtain on some of the most common financial half-truths that many retirees and investors encounter. As someone gearing up for retirement,
Read More