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Saving Up Little Wins

November 5, 2020

The Principle:

When it comes to saving for retirement, it’s usually not about inheriting one big lump sum. Instead, are you working hard and storing up little wins?

(Want to jump ahead in the episode? Click the featured times below to skip to a specific section.)

Honest Takes:

What does your financial plan consist of? Do you have a plan for what happens if the market crashes? What if you lose your job? How can you build up a good nest egg in retirement? In all of these, finding the right advice and saving away little wins will add up over time.

If there were to be another spike in coronavirus, what will happen to the market? Some of it depends on our political leaders and how they respond. Will they shut down businesses again? Businesses can’t operate if they can’t make money. What is your plan with your investments should anything like that happen?

With COVID-19 cases up, what else is happening? Are hospitalizations up? What other side effects are being seen by doctors when it comes to mental health?

How can you be successful in life? Just like in sports, in retirement, you’ve got to start small. Save as much as you can, invest it, and get advice. Sometimes that even means learning from people who got it wrong. When should you go meet with an advisor? Now! Do you have the best plan for you? Have you gotten a second opinion? Do you trust your financial advisor to help you win in retirement?

Listen to the entire episode or click on the timestamps below to skip ahead.

[0:16] – If coronavirus spikes, could we see another market crash?

[3:10] – While cases are up, hospitalizations are not as frequent.

[5:17] – In retirement, you don’t get do-overs.

[7:56] – What do you need to know about saving for retirement?

[9:15] – Planning for retirement is like building a million-dollar house

Today’s Truth:

Do you think when you get into your late 70s and 80s that you’ll have more healthcare expenses or less?

Brian Bowen

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Brian Bowen Integrity Financial Planning Roanoke Virginia discusses the deferred payment plan Bobby Bonilla and his agent were able to work out