Creating a Financial Plan 5 – Pre-Retirement Planning
Before you retire, you must know that you CAN retire, and STAY retired. Pre-planning your retirement before you get there is essential for a successful retirement.
The Four Horsemen
There are Four Mistakes we make as investors that are most responsible for our abysmal investor returns. They are Chasing Returns, Poor Diversification, Euphoria, and Panic. We also address two defenses against the Horsemen.
The Principal Problem
The goal of retirement planning is NOT to PROTECT our Retirement PRINCIPAL.
The goal of retirement planning IS to CREATE a Retirement INCOME. This is THE key distinction.