When you graduate from school and have your entire working life ahead of you, it’s a bit daunting. If you were to think about it too long, way back when, you might not get out of bed. Somehow, you got out alive. And that’s the beauty of being young. You just do it. It’s about survival.
And when you’re young, you have more freedom than you will in the years ahead, but there’s a small problem. You have no money or not very much money. You have all the time in the world to complain about it, too, but that’s a waste of time. If you were smart and put a little money away for a rainy day, you learned the powerful lesson of compound interest.
In your retirement life or near retirement life, you had better have saved a fair amount of money if you want the retirement you dreamed about. Stuff ain’t getting cheaper. And, easier said than done, you need to learn how to spend money and not watch your retirement pass you by.
Yes, you have less time than when you were young, but don’t think you have forever and don’t invest like you’re 25 years old. That’s foolish. Because you can’t work those hours again if your portfolio takes a big hit. You can only try to get that money back with other money.
When I review portfolios with clients, we spend a fair amount of time talking about diversification and patience. But we also talk about their life. And that can only happen if they’re happy with their finances. All I can say is, we talk a lot about their lives.
Action Line: And what are my clients telling me? They’re telling me they’re hearing from their friends and family asking them what they’re doing with their money. “I have a guy,” they say. When you need a guy, email me at ejsmith@yoursurvivalguy.com. And click here to subscribe to my free monthly Survive & Thrive letter.
Read the entire series here.
Originally posted on Your Survival Guy.
