Several years ago, my wife and I sat with our younger daughter at a seminar for the entering class of Pre-Med Students. The Senior Pre-Med Advisor stood and addressed the group of approximately 120 students. You could have heard a pin drop after she made the following statement. She said to the entering freshmen; look around the room at your fellow classmates. In four years, when you will be ready to enter medical school, only about twenty of you will be left! I am proud to say that our daughter was one of the twenty-two that entered medical school! Today, we call her Doctor!
What a sobering reality though! The Professor's comments were right on and something that needed to be said. Each one of the students left that room wondering if they would be one of the twenty or one of the one hundred that watched as the others moved on! I want to use that analogy with regard to our investments.
This morning, I read an article in the WSJ “The Dow’s Plunge: Should You Be Worried?” The article suggested that stocks are overpriced and perhaps ready for another correction…. Again? The author gave ten reasons why she felt that the bull run might be over. Over? Didn’t it just get started? The article suggested that individuals like you and me usually invest at or near the market highs and pull our money out at or near the lows! So…The few institutional investors, the professionals (and not all of them, I might add!) are making money and we see our investments either move sideways or diminish. Either way, we lose if you consider the rising cost of living!
So, my question to you then is...Look around your office; which one of you will retire when you want to? And, which of your investment portfolios will survive the next market correction? Perhaps not as sobering as the medical school advisor's question, but.... sobering when you realize that you may be working for several years more than you had planned! Statistics tells us that about 65% of us will be broke at retirement! Getting more sobering now?
So, for the older generation still in the work force, the first of the baby boomers, there may not be a lot of time left to reorganize and take a different path, right? Well, I disagree. There are still ways to take hold of your financial situation and make changes that will suit you well in the retirement years! For the younger generation and the youngest in the work force, now is the time to take a good hard look at what you are doing and to do something now before retirement is around the corner for you!
I urge you to take an hour of your time and set it aside to learn something about banking that you may not know. One hour! If I am right, you will have the insight to move forward with a very small class of people who retire and are able to maintain the lifestyle they desire. If I am wrong, you lost one hour of your time! So, do you want to continue doing what you are doing now, or do you want change in your financial status now, as well as in the future? I am working toward being among the class moving forward. I hope that you will join me!
Click on the icon to the right tilted "Night of Clarity" and register for the next FREE privatized banking seminar and if nothing else, your eyes will be opened to how banks operate and why their names are on the biggest buildings in town!
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