Broker Check

Tennis and Retirement Planning

| December 11, 2017
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Two things that I love in life, tennis and retirement planning. Here are five things you can take from one and apply to the other.

  1. It’s not a break unless you hold serve. Just as in tennis, if you make a great investment that can be instantly offset by an immediate bad investment. Don’t forget rule number 1.
  2. Unforced Errors. These can break your game in tennis and investing. Thankfully we can diversify our investments!
  3. Ace. Sometimes there is an easy winner up the middle. If your employer is matching a high percentage, take your best swing.
  4. Relying on a partner. If you’re standing at the net in a doubles match and your opponent hits a top spin lob, you don’t have to chase it down. Let your partner get it. Leveraging at an advisor as a partner can yield equal benefits.
  5. Build a Complete Toolkit. In tennis, you need to be able to hit forehand, backhand, volleys and master all aspects of the game. In retirement planning, there are also many components that make up a good plan. Investing is only one part, just like a strong forehand, it can’t win the match for you. You must also have your insurance dialed in, long-term care plans, estate planning, withdrawal strategy and more. Consider all the pieces and take the necessary steps to get your “ground strokes” in order!
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