Would you believe me if I said having a financial strategy and the game of football have a lot in common? In the middle of football season, it’s hard not to get pulled into the game and root for your favorite players and teams. Watching the strategy and athletic ability compete is captivating. What lessons from football can you apply to strengthen your own financial strategy and ability as you work towards retirement?
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You may not know exactly what you’ll need to retire or how long you’ll live, so how do you put the financial strategy in place to plan for it? Just like in the game of football, you don’t know just what the opponents of life may come up against you with.
So, what do these teams and coaches do in football that we can also apply in your financial plans?
Remember to keep focused! Prepare for the retirement red zone, working extra hard as you draw closer to it. But also, be ready to change your game plan as needed. Sitting back and hoping it all works out or that you stay in the lead without continuing to play the game will not guarantee a win.
While you may not have the same type of pay as Cowboys defensive end Michael Bennett, the way he saves does remind us that nothing is guaranteed. Saving what you can now will make a significant impact down the line.
Listen to the entire episode or click on the timestamps below to hear specific segments.
[0:16] – America loves the game of football, which even extends into football movies.
[2:49] – The retirement red zone is important to prepare for.
[3:55] – Sometimes you need to adjust your game plan in retirement.
[5:25] – Teams lose when they get ahead and stop working hard.
[6:50] – Focus on finishing strong so you can enjoy your life.
[8:05] – Defensive End Michael Bennett says he lives on a fixed budget.
[9:07] – What are some ways people have creatively saved for later?
Brian Bowen – Contact