At Foster Group, we focus on what we can control and embrace uncertainty. So, when it comes to your financial plan, what are the areas we can help you control?
In my daily work with clients, the question often comes down to, “How much do I need to retire comfortably?” My usual answer is, “How long are you going to live, and what do you want to eat?!”
While I don’t think this approach is for everyone, I do think many of us would benefit from making some of these decisions.
At Foster Group, we focus on what we can control and embrace uncertainty. So, when it comes to your financial plan, what are the areas we can help you control?
In my daily work with clients, the question often comes down to, “How much do I need to retire comfortably?” My usual answer is, “How long are you going to live, and what do you want to eat?!”
While I don’t think this approach is for everyone, I do think many of us would benefit from making some of these decisions.
Homes are commonly thought of as investments. It’s easy to see why. For most of us, it’s the single biggest thing on our balance sheets for years.
2020 is a year we’ll all remember though in many ways we want to forget it.
We had completed our hike successfully, and the challenges made it more memorable and satisfying. The same is true for all of us as investors.
By the time you read this, you will have most likely forgotten today. My guess is that you won’t remember what went on this day. You might remember a feeling or thought you had when you heard what was happening in the stock market. But then, you sent an email, mowed your lawn, took your dog on a walk and ate something healthy, like broccoli, for dinner.
A good relationship with our clients comes down to a handful of things. One of those things is whether a client trusts that we know more than they do about the type of investing we do at Foster Group.
Tragically, we humans are, to put it bluntly, awful at wanting the things that will create the most meaning and satisfaction in our lives.
We often get asked by clients about different ideas they heard from a friend, a new exclusive deal they got invited into, or, most frequently, a specific company or stock that a friend gave them the scoop on. The reality is that a lot of the “great ideas and deals” never amount to any real return, and many end up going to zero.
I listened to a great show on the Hidden Brain podcast a couple months ago: Work 2.0 – The Obstacles You Don’t See. The big takeaway was that often the path to success is not about more motivation but removing obstacles. I think the podcast has had a big impact on my life already. Let me explain.
Here are some ideas and tools you can use to help make your saving automatic, the biggest key to growing your savings.
