Thoughts or Strategies?
Thoughts or Strategies?
Which is worth more?
Many people have thoughts about financial plans. They have opinions that they’re willing to give you. But is that what you want to build your future on? Probably not. I have many thoughts about markets and stocks. But that’s different from what we plan your future on. We build your future on things that bring you the probability of success. We follow an academic strategy that requires research and consistent review—an approach based on decades of research and proof behind what should bring you success.
Being organized will help you get more out of what you have. Being organized creates better conversations which prompt you to ask better questions. If you ask better questions, you will make better decisions. When you put this process into use, you procrastinate less and worry less. Considering all these factors, we should be as organized as possible when making life’s decisions!
Having a well-laid out plan will help you set goals. It will also help you consider your choices to attain those goals. You will be able to see how those choices affect your long-term results. Life is full of distractions, but with a solid plan in place, it will likely help you stay on track to realize your goals…your best self!
Now that you have a plan, how do we measure your potential success? The four pillars of retirement will help you not only be successful in retirement but will help you be confident in your strategy. The first pillar of retirement is to have six months of emergency funds. In your retirement, you should have the capacity to live on less than 3% of your financial assets. You should have five years of what you need out of your financial assets in conservative assets. The last pillar is to be debt-free.
It is important to remember that every time we spend, save, invest, or give away a dollar, we affect these four pillars of retirement and our potential success. Yes, we may be lucky and not need to do this; but do you want to worry about your success? Or would you rather have a plan in place so you live your life knowing you are on track?
Fact-based portfolios are an essential piece of your financial success. We want to build portfolios that have a higher probability of long-term success. Since fact-based portfolios are grounded in academics, you can worry less that you may have got it wrong.
Yes, there are many thoughts about how you should invest. But it would be best not to base your future upon my thoughts or someone else’s. It would be best to establish your future on the academics of investing and being organized, thoughtful, and well-planned so you are on the right path.
Everyone has a thought! Only some have a well-laid strategy for success! Should you?
Sincerely,
Wayne von Borstel, CLU, ChFC, MSFS
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing.out
