UPDATE 7.14.23: The percentage of Americans who are very or somewhat confident that their savings are enough to live comfortably in retirement declined in 2022 at the fastest rate since 2009. That’s according to a survey by the Employee Benefit Research Institute (EBRI). The top reason for feeling uncomfortable with retirement savings was the threat of inflation eating away at purchasing power. Inflation has slowed somewhat but is still higher than the Federal Reserve’s stated goals. The second most popular reason respondents gave for their feelings of discomfort about retirement was that they hadn’t saved enough. Your Survival Guy recommends saving til it hurts. That way, you won’t need to ask for “preservation of principal and growth” like the investors mentioned below.
Originally posted March 22, 2023.
Is there anyone more important than you? You’ve made some promises: In sickness and in health, family first, love thy neighbor, etc. You’re the reason there’s so much to worry about.
But in my conversations with you, you don’t always know—you.
Let me explain. You’ve worked a lifetime to get to where you are. You have savings you can’t afford to lose. You need your money to last for the rest of your life. And like clockwork, you tell me this:
“I need preservation of principal and growth.”
Uh, huh. And then I think to myself. “I’ll also have the crème brûlée without the cals, thank you.”
Hey, it’s human nature. You’re looking to hire Your Survival Guy to make your life a little easier. You want to go to Key West and forget about life for a little while. I’m with you.
But as Your Survival Guy, I’m here to say, “yes, you can have your cake and eat it too.” But you need to have a little discipline, for cryin’ out loud.
You say to me, “I know we’re small potatoes to you.” Screeetch. Stop. Not true. Let me explain.
Your Survival Guy knows how hard it is to save money. Your Survival Guy knows what it feels like not to have two nickels to scratch together. Your Survival Guy knows saving money is a virtue. It’s a habit of highly effective people. Saving half a million dollars is hard.
That doesn’t mean you’re getting dessert every night. But in less than 17 seconds, I can tell the type of person I’m speaking with. I’m not interested in serving someone who isn’t a saver. Someone who’s needy. Someone who doesn’t appreciate what he has. Who isn’t proud of his journey.
Action Line: I want to work with you. Not anybody else. Let’s talk.
E.J. Smith - Your Survival Guy
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