Have Faith: A Golden Age for Your Golden Years

By Natalia @ Adobe Stock

Your Survival Guy feels like we’re in a golden age for your golden years. No, this isn’t a piece about gold, although I do like gold and feel you should own an appropriate amount, too. This is more about listening and understanding the lay of the land in your golden years.

Your Survival Guy learned a long time ago it was a good idea to listen to Dick Young when he spoke. I remember like it was yesterday, in my mid-20s when he’d explain to me his favorite investment tools like the T-bill—the risk-free rate of return. “Listen, everything moves off this, and investors had best understand that reaching for yield is never a good idea.” Click.

And then, I got on the phone to spread the gospel for eight hours. And from my cubicle I spoke with authority to anyone and everyone the lay of the land. Can I get an Amen?

No, not really. That’s not how this business works.

I spent most of my calls learning about your life, your money, and your goals. I learned how to be a good listener. When, and only when I was asked about what I thought, I was asked: “What do Dick and Matt think?”

What I do know is it would serve investors well if they could live their investment life in reverse. Not once in my quarter of a century talking with clients do they say to me, in their final years, “I wish you were more aggressive.” What I often hear from clients is “I wish I had joined you guys earlier.”

At the outset of our retirement lives, we’re excited. We won the race and feel like there are still some big opportunities out there to make some money, especially now that we have a truckload of it. Sometimes there are. Sometimes there aren’t. The latter is a terrible lesson to learn at any age.

Action Line: Enjoying peace of mind and comfort as an investor takes a leap of faith. When you’re ready to talk, let’s talk. But only if you’re serious. Email me at ejsmith@yoursurvivalguy.com.

Originally posted on Your Survival Guy.