We all want it, but what exactly is financial security? Everyone defines it differently and today will discuss some of those meanings. But first, in the news, we talk about how technology is changing the road ahead (literally!) and what that means as an investor.
What does financial security mean to you? It can mean a lot of things, but believe it or not, it’s more than just a dollar amount. Financial security is about what motivates you and then changes the direction of your financial plans.
Your main financial motivators will direct the choices you make. Are you most concerned about being a burden on your kids? Maybe that means considering long-term care insurance. Or are you worried about running out of money? That might change your standard of living or change the kind of investments you make.
Sometimes a little understanding can provide you with peace of mind. You can’t know everything that the future holds, but if you know the basics then you will be better set up for success.
Listen to our latest episode of The Financial Answer to hear Nathan share a few different approaches to finding financial security or click the timestamps below to skip ahead to a specific segment.
2:30 – In the News: Ford is aiming to bring 100 self-driving cars on the road by the end of the year.
5:32 – In the News: Netflix has gone up 8500% in the last ten years, but some predict it will decline now that everyone is streaming.
8:05 – One motivator for financial security is to keep from being a burden on the kids.
10:43 – You don’t want to run out of money.
14:05 – The market jumping up and down drives you crazy.
16:17 – Quote of the Day: “Expect the best. Prepare for the worst. Capitalize on what comes.” – Zig Ziglar
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