Do you still have some lazy cash sitting around after the holidays? It’s time to get it up and moving, especially with interest rates and dividend yields you can sink your teeth into. And this has nothing to do with predictions for 2024. I’m simply looking at the lay of the land and like what I see in both bonds and stocks.
Your key to retirement success is coming up with a plan you can live with. Remember all those years ago when you purchased your first home and wondered how you’d make the payments? I know you don’t want to have to do that again. But what you did then was develop a plan to make those payments. And you lived to talk about it. It was about survival.
Bring that mentality to your investments. I want you to think about your retirement investment plan as survival. You need to come up with your unique survival plan and stick with it. I’m not talking about watching prices go up or down. I’m talking about allowing your investments to generate cash flow through dividends and interest. Over time, compounding can do incredible things, but there needs to be discipline.
Make your investments a “must do” just like you did with your mortgage payments, where saving becomes automatic. After a while, you don’t even realize you’re doing it until you look at what you own and wonder how that happened.
Action Line: Develop a plan for your success. You got this. When you need help, I’m here.
Originally posted on Your Survival Guy.
