The keys to reaching financial independence are simple at their core, but not easy to attain. A few of the keys are: invest in your earning power; avoid lifestyle creep; get the big expenses right; and avoid major mistakes. This week we present personal stories of the retirement planning habits of some noted retirement specialists, and common investment mistakes compiled by the CFA Institute
Harvard Economist confesses her “not-so-smart” moves and explains how she recovered. Retirement expert Alicia Munnell, director of Boston College’s Center for Retirement Research shares her successes, failures, and her recoveries. Firming up her financial footing had nothing to do with stocks or bonds, according to a Bloomberg article. Click here to read the full article
Watch an Elite Financial Adviser Hack His Own Retirement. A thirty-something financial planner aims to accumulate a nest egg thirty times the equivalent of his current lifestyle. The key is to avoid lifestyle creep. Living below his means creates an environment of financial flexibility, to respond to great opportunities that come along, according to a Bloomberg article. Click here to read the full article
CFA Institute Cautions Investors on 12 Common Mistakes. Recognizing how to avoid missteps is often the most important part of creating a successful investment program. “Investing is not gambling and shouldn’t be treated as a hit-or-miss proposition.” With a little diligence mistakes are easily avoidable. Click here to read the full article
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J. Mark Nickell & Co.
Disclosure – The articles mentioned in This Week with J. Mark Nickell & Co. are for information and educational purposes only. They represent a sample of the numerous articles that the firm reads each week to stay current on financial and economic topics. The articles are linked to websites separate from the J. Mark Nickell & Co. website. The opinions expressed in these articles are the opinions of the author and not J. Mark Nickell & Co. This is not an offer to buy or sell any security. J. Mark Nickell & Co. is under no obligation to update any of the information in these articles. We cannot attest to the accuracy of the data in the articles.