If you spent ten minutes in 2022 reading economic forecasts for 2023, you've wasted ten minutes of your time that you'll never get back. By the way, time is your most valuable asset. Invest it wisely.
I recently re-read some of the 2022 outlooks from several of the most respected and well known forecasters in the financial industry such as Vanguard, Goldman Sachs, JP Morgan, etc.
You know what I noticed? Not one of them mentioned the possibility of a bear market that would send markets into a freefall of over 20%. How could they have missed or not anticipated such a possibility?
1. Because no one can predict markets
2. Because no one can time markets
Retirement can mirror this same scenario. We can forecast into the future our retirement, our personal lives, our health...and be totally wrong about it. Truth is, none of us have any idea what will happen five minutes from now, much less a year from now but fortunately, everything in and about retirement boils down to one simple question.
Will you outlive your money or will your money outlive you?
Nothing else really matters. The latest economic forecasts don't matter, the latest crisis on whatever cable news channel you subscribe to doesn't matter, what percentage you made on your investments the last 10 years doesn't matter, I could go on and on. The only question that matters in retirement is will you outlive your money or will your money outlive you?
At 80/20 Financial Services we can help you answer that question. It will take no longer than 15 minutes of your time.
You need a plan
A goal of retiring - without a plan - is simply a plan to run out of money. At 80/20 Financial Services we specialize in helping cooperative employees plan their retirement. We can show you how to turn your 401k and your R&S lump sum into a stream of income just like when you were working while also helping you achieve your desired financial outcomes in retirement.
If you're age 50 or over and still in the accumulation phase (pre-retirement) we can help you figure out where you need to go and how to get there. If you are retired or nearing retirement, we can create a plan which will outpace inflation and accomplish any other retirement goals you might have.
The consultation is free and without obligation. Contact us to set up a consultation.
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80/20 Financial Services is an Independent Registered Investment Advisor (RIA) registered in the state of Missouri (CRD# 300772). We work with clients in Missouri and throughout the United States. Being independent allows us to work exclusively for YOU.
Photo by Glenn Carstens-Peters on Unsplash