Four Ways You’re Moving The Goalpost In Retirement

Today’s Wisdom:

Fear and procrastination will lead to all sorts of trouble in your financial life. If these emotions cause you to continuously change your financial goals, learn why, and discover how to put a firm plan in place.

What You’ll Learn:

[00:56] – Volatility Is Back On Wall Street.

  • We can’t predict what will happen on Wall Street, but we can control the amount of volatility in your portfolio. Now might be a good time for you to make sure your portfolio is properly diversified.

[2:54] – Just How Much Cash Do You Need?  

  • If you never feel like you have enough cash in the bank, you could be moving the goalpost in your retirement plan. Sure, you need to have an emergency fund, but too much cash in the bank is just as dangerous as a risk-filled portfolio. We want to keep some of your money liquid, but the rest of it needs to be working for you in the market. Make sure your wealth is keeping up with inflation.

[5:18]  – Get Serious About Saving. Stop Moving The Goalpost By Procrastinating.

  • As the old Nike saving goes, “Just Do It.” Stop procrastinating your saving. If you’ve been meaning to start saving more for retirement, do it. You can always stop in six months if your plan doesn’t seem to be working. Stop putting off your financial future.

[6:57] – If You’re Procrastinating Your Need To Take The Risk Out Of Your Portfolio, You’re Moving The Goalpost.

  • If your portfolio is over-exposed to Wall Street, you need to remove some of the risk. While it might be tempting to continue riding the Wall Street roller coaster, it could be dangerous for you in retirement. Don’t be greedy. Adjust your risk exposure before it’s too late.

[8:44] – Stop Moving The Goalpost And Pushing Back Your Retirement Date.

  • Maybe you’re afraid to retire. If so, it’s easy just to keep working out of fear. We want you to work because you enjoy it, not because you’re uncertain about your financial future.


  • [12:27] – Tim is a dentist. He owns a dental practice, and he owns his own office building as well. He’s planning to retire, and he wants to know whether he should sell his practice but keep the building.
  • [15:48] – Vicky says she’s most likely getting a divorce in the next couple of years. She’s retired, and her husband will be retiring soon. She wants to know how her assets and retirement will be affected by the divorce.
  • [19:04] – The airline Harvey flies for is eliminating his pension and offering him a buyout instead. He’s not being forced to retire, but he also won’t be increasing his pension by working longer. He wants to know whether he should go ahead and retire.

Final Thoughts:

“Don’t let fear and procrastination put a damper on your retirement. Stop moving the goalpost in your financial life. Take action, and put a plan in place.”  – Money Wisdom

Additional Resources:

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Thank you for listening!