Mick Jagger unwittingly left us with sound financial advice through his music. David explains Mick’s musings and leads us toward financial satisfaction.
(Click the featured times below to jump forward in the episode)
[1:27] – “The Past Is A Great Place, And I Don’t Want To Erase It Or To Regret It, But I Don’t Want To Be Its Prisoner Either.”
- We work with a lot of people who spend a lot of time dwelling on the past, and it tends to keep them from achieving financial satisfaction. Instead of focusing on the present and the future, they worry about their past mistakes. Stop living in the past, and begin to prepare yourself for tomorrow.
[3:22] – “Lose Your Dreams, And You Might Lose Your Mind.”
- Not many of you are dreaming about what your retirement will look like. Instead, you’re focusing on the finish line, and in doing so, you’re driving yourself nuts worrying about whether you’ll have enough when you get there. You might even say you can’t get no financial satisfaction (See what we did there). You need to take time to think about your retirement and what kind of lifestyle you want in retirement. Doing so will give you peace of mind as you craft a plan to achieve your goals.
[5:12] – “It’s Alright Letting Yourself Go As Long As You Can Get Yourself Back.”
- It’s okay if you lose money in the stock market. Just make sure you have time to get some of it back when the market rebounds. If you don’t have time on your side, you need to start taking the risk out of your portfolio. Maybe that includes purchasing an annuity, or maybe it means shifting your investment allocation. Regardless, make sure you’re prepared for a market correction, especially if you’re within a few years of retirement. Don’t let procrastination and market upheaval get in the way of your financial satisfaction.