I recently listened to a podcast called, “Invest Like the Best, with Patrick O’Shaughnessy”. The podcast is based on an article written by Michael Lewis in the New York Times Magazine back in 2009, about Shane Battier, a professional basketball player who was the ultimate teammate.
People come to terms with the fact they will one day retire. Maybe not in the next year or two but sometime in the next five. Often, it’s a reality they’ve been denying.
While I don’t think this approach is for everyone, I do think many of us would benefit from making some of these decisions.
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.
For more than 20 years, I ran competitively. Last year, I spent three to four months training consistently and failed to reach one of my goals.
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.
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.
We create a legacy through a long series of intentional choices. Discussing things that are more important than investment returns and account allocations, leaning into the heart of things that really matter and put together a plan to achieve those things.
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.
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?!”
