Purpose Driven Investing on mission to invest so you can enjoy the rest.
Today’s newsletter is an excerpt my quote in Forbes Magazine: Here’s The Only Retirement Risk That Really Matters To You
Full link to the article here.
A writer by heart, my recent musings on retirement were picked up by Forbes…
Retirement is one of the biggest financial decisions you will ever make. It’s a time when your income stops and expenses change dramatically. Depending on how you manage it, retirement can be fulfilling or terrifying. If you haven’t thought about what happens if something goes wrong in retirement, then read on to find out why this risk is the only one that really matters to you.
It all comes down to goals. A goal-oriented target is based on real life events. Weddings, buying a new home, sending your children off to college. These are the things people invest for. You will need to plan for not only the expected, but the unexpected. The flat tire, the surprise family vacation, donating to a friend in need. Missing out on those opportunities can have a far greater impact than a number on a spreadsheet.
So what can you do? First, you value whatever you have a relationship with.
Ask yourself, “What are the relationships that I value most?”. Answering this one question in our first meeting usually brings clarity in a world full of noise.
I get it, it’s hard to put a number on happiness. But missing out on life events like weddings and college admissions is even more frustrating – they’re far more important than fancy software could ever measure.
The nice thing about happiness is that it’s different for everyone. It can be influenced by your job, location, or even the people around you.
It reminds me of a client named Mike:
Mike had always been a hard worker working in manufacturing. He put in long hours at his job so he could have the money to save up for retirement. He liked to make one lump sum at the end of the year, believing that investing one time reduced his risk of a bad market. One year, the holidays were making it impossible to do anything else. The unexpected expenses just kept piling up and Mike didn’t know how to stop them from happening. When he finally got home after his shift one day, there was no money left over for him to even think about making his year-end contribution.
At our last meeting I asked, “Mike, how are you?”. He just looked up and sighed deeply. “I’m not feeling so good right now.”
From there we went to work. We made a winning blueprint to get his savings back on track, with monthly contributions and deconstructed his self limiting beliefs about investing. Turns out there was a lot we could do if we planned ahead.
And that’s why I’m on a mission to invest —so you can enjoy the rest.
I enjoy helping people get the right money mindset.
Follow me on Twitter or LinkedIn. Check out my website or some of my other work here.
Best,
Darin Tuttle, CFA
Founder & Chief Investment Officer
Tuttle Ventures, LLC
