Retirement

5 Things to Prepare for in Retirement

By Barber Financial Group

December 10, 2018

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To quote Jim Rohn, “It’s not what happens that counts; it’s what you do about it.” As emotional human beings, too often we tend to dwell on what has happened to us rather than trying to figure out what to do about the things that have happened and working to ensure that they either do or don’t happen to us again.

1 – Put the Past in the Past

This ill-advised practice of focusing on the past is similar to trying to drive forward while looking in your rear-view mirror.  It isn’t too hard to imagine the disastrous consequences of such an action. Try explaining to your insurance agent why your vehicle is now a twisted pile of steel. I’m sure he would understand, wouldn’t he? I can hear the conversation now:

Agent: What happened!?  How did you wind up hitting this other car and rolling over 3 times before coming to rest on top of a farmhouse?

You: Well, I’m kind of embarrassed to admit it, but I was looking in the rearview mirror!

Agent:  Why?  Was there someone tailgating you?

You:  No, I was heading for Colorado, but I just couldn’t stand not seeing Kansas City, so I just kept looking back there. I was going to watch it until I couldn’t see it anymore. It made me feel better seeing where I had been. Seems like a silly idea now though.

If you keep looking at what your portfolio used to be worth and ignoring where it is going today, you may be just like the “You” in the exchange above, looking at where your money has been instead of focusing on where it’s going. Don’t let that be you.

To continue reading, download 5 Things to Prepare for in Retirement.

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