It is important to understand how we feel about risk and how it impacts our finances and investments.
Risk, if properly managed, can actually work to our advantage.
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What do landing an aircraft and planning for retirement have in common?
If you set up wrong, the results can be disastrous! Which is why most people don't fly their own planes and instead rely on expert pilots to fly them to safety.
The same reliance on expertise applies to retirement planning.
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Read this article by wealth advisor Elizabeth Caputo for tips on how to set achievable, realistic financial goals for the New Year so that you actually have a chance of accomplishing them.
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Question: I have just heard that people should forget about retiring until they are 70 years old. Does this only apply to a certain target audience? I am thinking about retiring when I am 60 years old (9 years from now). I have about $2,300,000 in investments split equally between a 401(K) and other investments. My wife and I have always lived well under our means.
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The media does not generally portray millennials in a positive light. This holds true for perceptions of the savings habits of millennials. Millennials are still seen as the generation living in mom's basement. Whether they are doing so because they are, in fact, diligently saving, or because they are "failure to launch” kids is not usually specified.
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The cruise ship left New York heading for Bermuda. A terrible storm has blown up. The seasick passengers are in their staterooms vomiting. "Is there anything that can be done to get out of these waves," they ask? "Nothing," says the captain. "We just have to drive through until we get to the other side.
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