The Bird’s Eye View:
Time is undefeated. Nobody outlasts time. One of the big questions that people have, when they seek our advice, is: Will we be OK financially and have money for the rest of our lives? We’ll let you know what steps you must do to get there.
On this episode of Your Retirement Elevated podcast with Scott Dougan, we’re talking about time, how it is undefeated and what you must do to make your money outlast you.
People who do well financially in retirement were diligent savers, and they kept their debt in check. The sacrifice in their younger years allowed them to retire comfortably and do what they want.
We see clients who made decisions to work in careers that they didn’t love but it provided financially. My dad is an example. He wanted to be a car designer, but he didn’t get to do that. He worked in the National Guard and in construction. It wasn’t his dream, but he never complained. He told me that his job was what he did for a living, but it wasn’t his identity.
A sad thing is that some of our clients have died early in their retirement, and they didn’t get to do the things they dreamed of.
You need to build your life resume. Do some epic things that are big things, big dreams, things that make you so uncomfortable but ultimately make you grow and make you a better person.
When you put things off for later, later may not happen. You need to take action. Maybe you have a travel bucket list. You need a plan in place, and you have to be disciplined.
A couple recently came to me and wanted to know if they can retire. I asked them to give me their numbers and figure out how much money they spend now and how much they’ll need in retirement. They are so paralyzed that they haven’t sent the numbers back yet.
Do you know how you take back time? You schedule those things, you plan those things, you execute those things. Once you’ve done them, time can’t take those back.
Jesse Itzler YouTube video: https://www.youtube.com/watch?v=jks1fjm3o_I
Listen to the full episode or use the timestamps below to find specific segments.
1:33 – Time is undefeated
6:10 – Options shrink as you age
9:38 – Can we retire?
13:52 – Build your plan
Thanks for checking out the Your Retirement Elevated Podcast. We’ll talk to you again on the next show.
Scott Dougan, RFC, Investment Advisor – Contact