3157: The 3 Most Important Words in Financial Planning by Erik Carter of Financial Finesse
Reduce financial stress and increase confidence in your long-term goals
Optimal Finance Daily - Financial Independence and Money Advice · Optimal Living Daily | Diania Merriam
Audio is streamed directly from the publisher (traffic.megaphone.fm) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3157:
Erik Carter underscores how embracing a margin of safety, a buffer against unpredictability, can transform your entire approach to financial planning, from investing and retirement to insurance and emergency savings. By preparing for less-than-ideal outcomes, you reduce financial stress and increase confidence in your long-term goals, all while building a more secure path to financial freedom.
Read along with the original article(s) here: https://www.financialfinesse.com/2013/09/05/the-3-most-important-words-in-retirement-planning/
Quotes to ponder:
"A margin of safety gives you room for error to be wrong."
"Entering numbers into a retirement calculator that are overly optimistic will produce a case of the old garbage in, garbage out."
"You also don’t want to assume an average life expectancy. After all, there’s at least a 50% chance that you’ll live past average."
Episode references:
Fidelity Retiree Health Care Cost Estimate: https://www.fidelity.com/viewpoints/personal-finance/plan-for-rising-health-care-costs
Stocks for the Long Run by Jeremy Siegel: https://www.amazon.com/Stocks-Long-Run-Definitive-Investment/dp/0071800514
Learn more about your ad choices. Visit megaphone.fm/adchoices