You know you’re at a fork in the road when you can’t quite decide between a DIY (do it yourself) retirement life and one where you spend like YOLO (you only live once). That’s because when you save ‘til it hurts and live for so long within your means, it’s hard to turn around and spend.
In my conversations with you, two things stand out above all others. You’ve saved and saved and saved, and now it’s hard to “spend baby spend.” And it’s no wonder. When I review investor statements, I’m often surprised by the number of positions and the number of accounts. The sheer number of both feels like the product selection at Walmart. It’s a lot.
I understand how it happens. When one newsletter, for example, recommends one stock, and another newsletter does too, it’s hard to say no, and your instinct is to buy, buy, buy. The next thing you know, you forgot you even owned some of your holdings.
Over time, that can lead to a rat’s nest of a portfolio. Untangling it can take some doing. But the stress of no longer having a paycheck and never having as much money as you have now can lead to analysis paralysis or plain old inertia.
Action Line: I’m here to tell you, you can have your cake and eat it too. You just need a little confidence, so when you come to the fork in the road between DIY and YOLO, you can take it. Email me at ejsmith@yoursurvivalguy.com when you want help choosing a path. And click here to subscribe to my monthly Survive & Thrive letter.
Originally posted on Your Survival Guy.