What You Can Control in Retirement

Joe and Al discuss a recent MarketWatch article about 7 demands you should be making of your portfolio. Toward the end of the show, find out how to prepare for the worst financially so that you can bounce back quickly and enjoy the retirement lifestyle you worked your whole life for.

4:11 “You never really know how things are going to go; take every day as it’s your last”

6:47 “Looking at your retirement, you don’t want to be retiring from something but you want to retire from something”

7:15 “The absolute most important investment you can make is an investment in yourself”

11:18 “With high frequency trading, what that is hurting is other high frequency traders; it doesn’t hurt a buy and hold investor”

13:46 “You need to have some growth in your portfolio, and growth means stocks”

18:22 “Control the things that you can control; there’s $24 trillion in retirement accounts right now and it’s all subject to ordinary income. If there’s a way that you can control the taxes on your retirement income versus worrying about the day to day gyrations of the overall stock market, you’re going to have more money”

21:10 “During times of market correction, do you really want to sell your stocks at a loss to pay for your lifestyle? No”

22:16 “You want to make sure that you have a little in a lot of places”

24:16 “If you could pick one place where you would want to hold more stocks than bonds, where would it be?”

27:18 “All future income and growth and principal in that Roth account is tax-free, imagine if you could pull some of your money out in retirement tax-free; you could stay out of some of these higher brackets”

32:16 “You absolutely need a financial game plan. You need to figure out what you’re going to do, when you’re going to do it and how you’re going to do it”

33:29 “Take advantage of lower prices; keep your emotions in check. You have to create a strategy to create income from your savings and investments”

34:05 “Once you have the right investment strategy, then stick with it. When the market changes, when it’s going down like this, you have opportunities”

37:42 “You don’t really have control over which way the market is going; it’s bigger than all of us. You have to figure out what you can control…one of these is how much risk you’re taking and how much you pay in fees”