The WorryFree Retirement® Blog

Tony’s Five Keys to Retirement Success

By August 8, 2019 No Comments

Everybody seems to have their own keys to success. I came up with my own little pyramid of retirement success… It’s not as rambunctious and thorough as the great Coach John Wooden’s, but it’s pretty good if I do say so myself! These are five keys to a successful retirement that I’ve learned over time:

•The first one is, just like basketball, you need an experienced coach. You’re out here getting ready to retire and you’re going to roll this 401(k) over to somebody. You’re about to turn over your life’s work to somebody you don’t even know – somebody, in many cases, that doesn’t have the experience we do.
So the question is – would you rather work with somebody who’s done over 4,000 written game plans, worked with over 10,000 people over the years, and has over 2,000 clients? Or are you going to just leave it to chance and throw your money at somebody else? I think an experienced coach is the way to go.

•Number two – the next key to successful retirement is know thyself. I think many people get frustrated. I have some friends that are stockbrokers, and they say, “Tony you’re always getting on the stock market.” I’m not getting on the stock market, folks. We have some money in the stock market. But remember, we are working with what I call the saver personality. You’ve got to know if you’re a saver.
We work with Savers… not investors and speculators. We’re not being critical of the stock market; we’re just saying savers shouldn’t have much money in the stock market because we know they’re going to worry about it. So, know thyself.

•Number three – make the most of what you got. That’s all John Wooden is saying. The key to success is do the best you can with what you’ve got. Keep your fees down. Keep your costs down. Make sure you have plenty of mailbox money. We can help you with this, and we can make sure that you’re maximizing your retirement.

•Number four – (I love this one) – forget their scoreboard. Just because you’ve got a bunch of money in the 401(k), that doesn’t mean you’re going to have a successful retirement. A 401(k) is a savings plan, it is not a retirement strategy. This is what we do. This is all we do. And many people out there who are financial advisors, again, they’re trying to give you advice based on the first half of life.
We’re talking about half-time and beyond. It’s a whole different ballgame, folks, when you get in retirement. And again, this is not a one-shot deal. You need someone that’s going to help you monitor the progress based on what you want; not what somebody else tells you to want.

•And finally, Number five – it’s not about the shoes!
“It’s not about the shoes. It’s about knowing where you’re going.” -Michael Jordan
That’s right, folks. It’s about where do you want to go. You don’t have to have a million dollars to have a WorryFree Retirement®, but you have to know where you’re going, and you’ve got to have an experienced coach, a retirement planning specialist, that has been there before and can direct your steps along the way.

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