What Does Mark Twain Have to Say About Your Financial Plan?

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

Financial Planning Lessons From Winston Churchill

Is This Retirement Fact or Fiction?

More From Eric:

The host: Eric Peterson - Contact - Call: (515) 226-1500

Subscribe To The Podcast:

Apple Podcasts  -  Google Podcasts  -  Spotify  -  Stitcher  -  iHeartRadio  -  TuneIn

Check out some other recent episodes

The Importance of Preventative Care

July 11, 2024

Preventative care isn’t just for your health; it’s essential for your financial well-being too. By consulting a financial advisor early and often, you can avoid financial distress and make informed decisions that lead to a secure and fulfilling retirement. Many people will put it off for fear they will be told something they don’t want to hear or because of the perceived costs of financial advisors.

Read More

Preparing for Retirement like Noah’s Ark

July 2, 2024

Financial planning involves a lot of planning ahead, much like Noah did when he started building the ark long before the rain began. This metaphor serves as a powerful reminder that proactive planning is essential for weathering financial storms. Eric highlights that while we can’t predict events like market crashes or global pandemics, we can prepare for them by stress-testing our financial plans.

Read More

Retirement Income

June 27, 2024

When planning for retirement, one of the most critical aspects to consider is your income. But what does this mean, and how can you ensure you have enough income to cover your needs and desires?

Read More

Retirement Checklist

June 20, 2024

Retirement is a significant milestone that requires careful planning and preparation. In today’s podcast, Eric shares a comprehensive checklist to ensure you’re fully prepared for your golden years.

Read More

Financial Wisdom from Mark Twain

June 13, 2024

In the latest episode of the Retirement Ready Podcast, Eric invites us to explore the timeless wisdom of Mark Twain and how it applies to modern financial planning. Mark Twain, known for his wit and keen observations, offers quotes that are surprisingly relevant to today’s financial landscape. Eric takes these quotes and translates them into practical advice for those planning their retirement.

Read More

Understanding Bonds in Today’s Market

June 6, 2024

Are bonds really the safe investment we’ve always been told they are? What percentage of assets should a retiree or pre-retiree hold in bonds? In today’s episode, Eric addresses some of his most frequently asked questions about the world of bonds…

Read More

Understanding Your Financial Statements

May 30, 2024

Financial statements can often feel like a foreign language, filled with jargon and numbers that seem to have little relevance to your everyday life. However, understanding these documents is crucial for effective retirement planning. In the latest episode of the Retirement Ready Podcast, Eric breaks down the essentials of reading and interpreting your financial statements.

Read More

From Graduation to Retirement

May 23, 2024

This one goes to the grads! Whether you know someone graduating high school, college, or even preschool, graduation marks a new stage and season in life. Similarly, retirement is a new chapter in life. It’s a time of change, celebration, and sometimes, uncertainty. On today’s show, we talk through the similarities between leaving school and entering retirement.

Read More

401(k) Mistakes

May 16, 2024

Your 401(k) likely plays a major role in your retirement savings. That’s why it’s important that it’s set up and functions in the way that’s most beneficial to you. Following our last podcast about beneficiary mistakes, now we focus on common mistakes people make with their 401(k).

Read More

Beneficiary Mistakes

May 9, 2024

In this episode of the Retirement Ready Podcast, Eric guides us through the critical yet often overlooked details of beneficiary designations. Learn the simple yet vital steps to prevent beneficiary blunders that could lead to unnecessary headaches for your heirs. Eric calls these errors “low hanging fruit” because they’re easy to fix yet can save your family from future heartache.

Read More

Leave a Comment