Home Run Retirement: How Baseball Principles Also Score Financial Runs

After listening to today’s episode, you’ll never attend another baseball game with the family and look at it the same way. We’re going to show you how taking some of baseball’s most basic principles can also lead to financial success in your retirement portfolio. So, grab your peanuts and crackerjacks and let’s take the financial field.

Your Guide:

On this episode of Your Retirement Elevated podcast with Scott Dougan, we’re sharing how baseball’s most basic principles can help you financially.

It’s not all about home runs

We’d all like to be able to hit home runs, but the truth is that there just aren’t that many home run hitters out there, even at the pro levels. That’s why a lot of teams prefer to play “small ball.”

It’s not as exciting as hitting a homer, but it still gets runs on the board by using other elements of the game (bunting, sacrifice flies, steals, walks, etc.).

A solid retirement plan should be built in a similar way. Don’t try to just hit home runs with risky investments (where you’ll often end up striking out), especially as you get older. Instead, focus more on taking less risk that still allows you to get the job done.

It’s not all about appearances

The book “Moneyball” (eventually made into a movie that received 13 Oscar nominations) told the story of Billy Beane and the Oakland A’s method of building a team.

The premise of the Moneyball concept is that you should draft, sign, and develop players based on the evaluation of advanced data and statistics. This was a contrast from baseball’s traditional methods, where scouts paid less attention to numbers and gravitated toward players who “looked the part.”

In your retirement planning, don’t be fooled by fancy brochures or sales materials, or by slick sales people who are simply hocking a product. Instead, work with someone who is willing to help you understand the numbers and places an emphasis on logic and math instead of emotions like fear and greed.

Listen to the full episode or use the timestamps below to find specific segments.

[2:31] Home runs

[4:26] Appearances

[8:12] Five-tool players

[11:59] Coaching

Thanks for checking out the Your Retirement Elevated Podcast. We’ll talk to you again on the next show.

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ABOUT YOUR HOST...

Scott Dougan founded Elevated Retirement Group in 2003 in order to fill a niche he felt was not being addressed properly in the retirement planning environment – helping retirees and pre-retirees in the Kansas City metro area find answers to issues that may affect the quality of life during their retirement.

Scott is a Registered Financial Consultant (RFC) and holds a Series 65 Investment Adviser Representative license, which holds him to the fiduciary standard. He also holds insurance licenses in Kansas, Missouri and other states.

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