Sep 15, 2017
Joel talks about the things that you can’t control and the
things that you have to control when it comes to your retirement,
that will allow your money to go further than you ever thought.
Main Questions Asked:
- What are some of the things you can’t control?
- What are the five things that we can control?
Key Lessons Learned:
- If you fail to plan you plan to fail.
- There are many things that you can’t control that can have a
major impact on your retirement including the stock market,
interest rates, taxes, inflation, the cost of health care, and the
- Statistically, we are living in the safest society in history
but we feel more fearful which can lead us to focus on the things
that we can’t control.
- The first thing you can control that you should keep in mind is
your ability to diversify your assets and manage your income. You
should pull your money out of the right account at the right time
and be flexible when you need to be. You need to focus on income,
not the size of the pile of money.
- The second thing is making sure your portfolio matches your
risk tolerance. 90% of the new people Joel sees are taking more
risk than they realize. The people that you are listening to should
be practicing what they preach. The experience and wisdom of a
financial professional can help you figure out the right path
- The third thing is control the fees and expenses you are paying
on your investments. Nobody likes paying for something and not
getting value out of it. According to Tony Robbins, if you can cut
your fees by just 1%, you can make your money last up to 10 years
longer. You have to be aware of what you are paying in fees.
- The fourth thing is designing a portfolio that combats
inflation. You can invest in assets that are inflation sensitive in
a positive way and create a strategy that takes inflation into
account and allows you to keep up.
- The fifth thing that you can do to control your financial
situation is creating a comprehensive financial plan that takes
everything into account.
- Bonus: The sixth thing you can control is taking advantage of
the Money Map offer!
Links To Resources Mentioned
Money Map Retirement Review
Thank you for listening!