Ahhh, Mr. Market. He goes up, he goes down, but in the long run, so they say, he always goes up. Maybe. But not necessarily on your schedule. The long run might not be in time for your short-term needs. Mr. Market might not show up on your schedule. Stocks can stay down for a long time.
Which brings me to your retirement life. When it comes to you, I don’t want you hoping you’ll get your portfolio to a certain level. Hoping something will happen to you is no way to live.
Instead, I want you to control everything you can control. Your savings, your earnings, your money. In other words, work for as long as you can and save’ til it hurts. That’s Your Survival Guy’s formula for success. Live within your means, and don’t expect retirement to be cheap. I’m working with hundreds of investors through thick and thin, and I’ve been at it for over a quarter century. I can tell you retirement life is certainly not cheap. And it’s hard.
But don’t just take my word for it. In my conversations with my father-in-law Dick Young, who’s been doing this twice as long as me, he reminds me that even he wasn’t expecting how hard it would be to live off his investments. “Survival Guy,” he said recently, “It ain’t easy. Prepare yourself and your clients accordingly. Good luck. How was your day?” It was fine until now.
And so, when I think about living standards for you and your loved ones, I want you to think about taking care of business before you retire. What I mean is this: own your home, get out of debt, do not lose money. Simple, yet hard to do. I want you to retire in a position of strength, not biting your nails, wondering how to make it all work. You can do this. I believe in you.
Action Line: I want you to have the retirement you deserve. Take care of business beforehand. Get your ducks in a row. You’ll be glad you did. Let’s talk.
E.J. Smith - Your Survival Guy
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