Living a “Stock Market” Lifestyle

July 5, 2023

A competent planner understands that the client holds all the answers to their future financial security. Ironically, though, many don’t realize this, as they look to us as the one with all the answers.

I’ve come to appreciate that it is our responsibility to lead them by asking GREAT questions, which ultimately helps them to self- discover the solutions to their financial challenges and concerns.

So, what is a “stock market” lifestyle? Or might you prefer living a “bucket list” lifestyle instead? And what’s the difference??? A stock market lifestyle is driven by what’s taking place in the markets, basically an emotional and financial roller coaster. If the markets are doing well, you feel confident, empowered, unstoppable. “Honey…pack your bags; we’re heading to Tahiti! And we’re going first class!!”

However, if your portfolio drops by 20% in one day, you discard any thoughts of taking a vacation, going out to eat at your favorite restaurant, and flying to see the grandkids. Instead, you’ll do a “staycation with the family,” search the web for Groupon meal deals, and schedule a Zoom call with the grandchildren. “It’s Chicken Little, the sky is falling.” And we’re not even sure if the sun is going to rise tomorrow….

A “bucket list” lifestyle is when your income is INDEPENDENT of what’s happening in the markets. Your financial planner has stepped you through the maze of financial obstacles, hurdles, and choices, by asking the right questions. This process creates in your CONFIDENCE and gives you CLARITY and CALMNESS heading into retirement. You come to realize and appreciate that your lifestyle and legacy are no longer dependent upon stock market returns.

So this Independence Day week, you too can have the freedom and the liberty to live the retirement life you’ve always dreamed of, and desired, by focusing on the questions your advisor is asking you!!