On today’s episode, we are going to do some retirement planning with the famous genius, Albert Einstein. What Einstein quotes apply to today’s economy and your retirement plan? What can we learn from these timeless lessons?
“If you can’t explain it simply, you don’t understand it well enough.” This is especially true with investing. It’s not necessary to understand every little thing but you certainly need to know why you are doing what you’re doing.
A lot of people may feel their advisor doesn’t explain things well enough to them. That may be a red flag. It’s important to feel comfortable enough to ask questions and become educated on your plan. Education brings peace of mind.
Some people want the big picture and others want the nitty-gritty. Let your advisor know how much you’re comfortable with when it comes to understanding your financial plan.
“We cannot solve our problems with the same thinking we used when we created them.” Unfortunately, we see this a lot. People that are not where they want to be in terms of saving for retirement often get stuck in circular planning.
They might be looking for the next “get rich” opportunity without really analyzing their money habits. Looking for an opportunity to get rich overnight is not the answer. Finding an advisor can help you make better decisions. You can’t expect new results by doing the same thing over and over again.
“Learn from yesterday. Live for today. Hope for tomorrow.” In this turbulent market, you may be feeling uneasy. But looking back through history the market continues to go up over time. Remembering this and continuing to stick to your plan can give you peace of mind.
A lot of people have trouble living for today because they are so busy saving for the future. It’s important to take a step back sometimes and remember we aren’t promised to live to 70. Enjoy some things now without messing up the plan for the future. Hope for the future and stay positive.
Listen to the entire episode or skip ahead to hear more about a particular quote.
0:50 – Conflict in Ukraine
3:12 – Technically in a correction
5:04 – Call if you are worried
6:22 – “If you can’t explain it simply, you don’t understand it well enough”
7:42 – “We cannot solve our problems with the same thinking…”
9:50 – “Learn from yesterday. Live for today. Hope for tomorrow.”
A Point Of Wisdom:
Education brings peace of mind.