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Wall Street seems to share Greg’s cautious optimism, as does my team at Keen Wealth. But when the markets approach record highs or record lows, many investors let their financial biases get the better of them. Here’s what three common biases might be telling you about the markets right now, and why you’re better off following the course you and your advisor have set out.
According to our longtime friend Greg Valliere, Washington’s political pros are already looking ahead to the 2022 midterms. And that long-term perspective is already having a major impact on Joe Biden’s agenda for the first hundred days of his presidency, as well as the financial markets and the battle against COVID-19.
According to a new study from Oregon State University, “If you believe you are capable of becoming the healthy, engaged person you want to be in old age, you are much more likely to experience that outcome.” But that’s not typically how folks think about old age or even retirement. Instead of focusing on all the opportunities that lie ahead in the second half of our lives, we worry about experiences that may have passed us by forever or negative end-of-life transitions that we’re anticipating.
In 2019 my family took a vacation to Cabo. When I looked at the photos from that trip, I didn't like what I saw. The bottom line was, I had let myself get out of shape. I was overweight, feeling lethargic, and the pictures really brought home the fact that I needed to make some changes. On my own, I started eating better and exercising more. But I knew that wouldn't be enough to get the results I wanted. So, I did what I've advised folks to do hundreds of times in my financial planning blogs and on my podcast: I called in the pros!
A recent newsletter from health, wealth, and personal growth expert Brian Clark got me thinking about what one of my favorite books, The Alchemist, can teach us about the journey towards retirement.
When we’ve talked to folks whom I would consider “successful retirees” on this show, there’s a common theme: stay active. Whether you continue to work, start volunteering, or throw yourself into a favorite sport or hobby, retirees have to make an intentional effort to maintain connections to their communities and their loved ones.