Page 6 - FlipBook BACK FROM SARAN - MAY 5 2020 - Don't Make Me Say I Told You So_6.14x9.21_v9_Neat

v Don’t Make Me Say I Told You So

of the country. They call and ask how they can gift $15,000 this
year to each of their three kids.

The second group has saved less, invested much more

conservatively, and has never done a financial plan. They
invested in their 401(k) or other retirement plans, but stopped
investing when things were going badly. If they kept investing

during bad economic times, they moved their money into cash

or money market accounts, for fear of losing money. Only after
the markets rebounded in good economic times would they
move their money back into stocks or mutual funds.

As a result of this “fear-based” investment philosophy, these
people retired with significantly smaller retirement accounts

than the previous group. They will spend their days worrying

and fretting about running out of money in retirement. Because
of money, these retirees can’t live the life they would like to.
They will not get to travel as much as they would like to, dine

out as much as they would like to, help their kids or grandkids

as much as they would like to, golf as much as they would like
to, or do many of the things they would like to do in retirement
if money were not such an obstacle.

There is no question that everyone would like to be in that

first group. But because of the changing face of retirement,
especially with regard to longer life expectancies and the need

Preface