What’s in a Phrase: Your Retirement
There are certain phrases that have become so pervasive in our culture that we rarely stop to think about what they mean. Many of these sayings contain some very profound lessons that can apply directly to your retirement. Here are some of my favorites.
- April Showers Bring May Flowers: The general idea is that in order to see the more beautiful things in this life, you’ll first need to endure a little discomfort. You can’t enjoy a long and financially worry free retirement without sacrificing and saving some of your money.
- Don’t Look a Gift Horse in the Mouth: This is a simple reminder to not take good fortune for granted. Also, a good reminder to contribute to your 401(k) especially if you have a corporate match. Any additional money you can get into your retirement savings is a good thing, especially if it doesn’t come from your wallet.
- Don’t Put the Cart before the Horse: I’ve seen numerous individuals get impatient with their retirement plan and begin taking money out of their savings. Often times these withdrawals come with steep financial penalties, both at the time of withdrawal and later on during retirement.
- Barking up the Wrong Tree: Another common scenario I come across is individuals who are convinced they’re in a safe group of investments. Frequently, they’re invested in companies or funds with high risks and far too little return. This can usually be easily verified and, if necessary, corrected, by reviewing your financial statements with a qualified financial expert.
- There’s More than One Way to Skin a Cat: It’s not unusual for me to have conversations about the great portfolio of someone’s uncle or neighbor, and their great returns. While their portfolio may be yielding fantastic returns, they may not be appropriate for you, your risk tolerances, your investment goals, or your investment timeline.
These phrases are all common sense, which is what any sound investment strategy is based on. If you feel that you’ve lost some of the common sense you used to have in your portfolio, or would just like a review of your accounts and their performance, please give me a call at 719-630-0600. I can help review your accounts, their performance, and make sure your investments fall in line with your goals.
