Greetings! I trust that this will find you well and enjoying life.
Last week we looked at the effect media bombardment has on our emotions and quite possibly our decision making regarding our finances. We’re getting a big dose of information that’s tough to digest thus far this year. Thursdays Wall Street Journal headline was Global Rout Deepens and the following day Consumers Power Past Headwinds. Those two contrasts are enough to put you in a tailspin! Even last week the Times Picayune quoted Governor Edwards warning us that the state is in such bad shape that we may not be able to afford college football next year. Just think for a minute how ridiculous and hyped up that information is!
I’m not saying that we should bury our heads in the sand and disregard what’s going on. We need to be well informed to make sound decisions. However so very much of the information we are bombarded with ultimately has no bearing on us, if we do appropriate financial planning based on information and strategies which apply to where we are in life. In other words particular era’s in life that we transition to over time based on age, circumstances and goals. In my opinion the six eras are Early Career, Mid-Career, Pre Retirement, Retirement and Late Retirement / Transference. Every era has its own considerations, disciplines and strategies and we move from one to the other, however the transition may well be gray and not black or white. The point I’m making is if your financial plan is appropriately structured based on where you are in life, whatever the media is bombarding you with day after day shouldn’t affect how you feel about your finances.
I’d love to discuss where you are in life and planning for your era. If you have questions about your retirement plan or feel I can be of service in any way don’t hesitate to call.
Jeff Christian CFP, CRPC