Our lives are filled with decisions that impact our financial future. We encounter them every single day in minor ways. But every now and then we face larger decisions that require more thought and planning. When you zoom out and view your life on a timeline, it's amazing to realize how many decisions there are, and the impact they have.
By the time we reach retirement, we've actually gone through most of these decision points. So the massive value of financial planning is not "Do I have enough to retire?" - it's all the decisions made along the way to reach that point!
What I'm Reading
- Might the stock market be (again) entering a phase of higher volatility? This article sets your expectations for normal market movements based on history.
- An article from retirement researcher Wade Pfau is obviously self-serving in citing research claiming improved outcomes of those working with financial advisors. It should be fairly obvious with any quick comparison to other industries. In sports for instance: if you want better gains, hire a coach. It's not only about receiving expert advice, it's more about the accountability to implement and monitor the plan.
- Lynn O'shaughnessy is an expert on the college planing process. I really enjoyed the levity she brings in this article about the college admissions scandal.
What I'm Listening To
- I've been enjoying Dennis Moseley-Williams blogcasts over the last few weeks. If you are an entrepreneur then enjoy this quick video: "The pioneers get the winters, the settlers get the summers."
- I recently listened to a podcast about one man’s journey on discovering veganism and animal cruelty. Before you gloss over this one, as I almost did: It was amazing. James’ story is ultra compelling and the way in which he shares it is inspiring.
If you don't prioritize your life, someone else will.