On The Agenda:
Getting through retirement can be a lot like running a marathon. Today we’ll discuss the retirement marathon and share some of the similarities.
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Episode Show Notes:
On this episode of How Money Works, Craig and Jennifer Moser explain how getting through retirement can be a lot like running a marathon.
Planning and preparation
A lot of people assume that training for a marathon involves just going for a long run every day. But it actually involves a lot of planning. Most marathoners spend at least six months in training, mixing in days with light runs, some days with long runs that simulate the marathon, and other days with shorter, faster runs.
It’s the same thing with your retirement plan. You should have different dollars invested in different ways to accomplish different tasks. And your portfolio should have some planning behind it, not just haphazard investment choices.
“If you’re investing, don’t put all of it in one place,” said Craig.
Before a marathon, most people do a carbo-load to prepare in the days before the race.
The body burns carbs more efficiently than it burns fats, so having the right amount of carbs in your system helps your performance while running.
With your retirement planning, you need to be paying very close attention to your portfolio in the years leading up to retirement. You can’t afford any big losses, so it’s important that you have the proper diet to be sure you’re properly managing risk.
“Five or so years out, you need to pay attention to that portfolio,” said Craig.
Listen to the full episode or use the timestamps below to jump to a certain section. Thanks for listening.
1:16 – Planning and preparation
3:35 – Proper diet
6:07 – Don’t start too fast
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