Today’s Prep:
What financial wisdom can we glean from the sayings of Mark Twain? Believe it or not, many of these quotes are quite relevant today.
Equipping Points:
Mark Twain, writer of some of the classics, had a number of things to say that still apply today. On today’s episode of the Retirement Ready podcast, Eric shares how these quotes from the past relate to life today as well as how they can be applied to your retirement plan.
Anything can happen, right? Twain said, “Apparently there is nothing that cannot happen today.” While 2020 was a year full of change and transition, 2021 may bring its own mix of change. Have you run your plan through a stress-test so that you can be prepared for whatever the future holds?
When money is a strain, you might make decisions that aren’t the best. Whether from a market swing or a job loss, are you reacting based on emotions or following your plan? In retirement, how can you be a good steward of your money to protect it and grow it?
If you’re going to be in the stock market, be ready for volatility. Twain joked that October was a bad month to speculate on stocks, but then went on to list all of the months. Every month carries a certain amount of risk and opportunity.
Lastly, Twain said, “The secret to getting ahead is getting started.” Are you dragging your feet on creating a financial plan? Or does it need a re-work but you’re scared of regretting not doing it sooner? Meeting with an advisor is not about getting scolded, it’s about starting off and continuing your financial journey in the right direction.
Listen to the entire episode or click on the timestamps below to hear more about a specific quote.
1:25 – “Apparently there is nothing that cannot happen today.”
5:02 – “The lack of money is the root of all evil.”
6:58 – “October is one of the particularly dangerous months for speculating on stocks…”
8:47 – “The secret to getting ahead is getting started.”
Today’s Takeaway:
“We’re not here to make you feel bad. We’re here just to point out where you want to go: here are some of the things you can look out for and here’s how we can help you.“
-Eric Peterson
Related Resources:
New Year, New Ideas to Consider
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