Stop watching the market and comparing your investment performance to some benchmark. Everyone does it (even most advisors) but does it really help you create a great life??? Of course it doesn't. So stop. Stop worrying about "keeping up with the market" and get down to the important work of creating a great life.

INVEST WISELY Segment

Most of us know we should stop watching the market. Month to month movements typically mean little to the ultimate achievement of our life plan. Still the media, as well as the financial planning industry, keeps comparing our portfolios to some benchmark. How are we not supposed to think in comparative terms?

We need to stop!

If you are investing without measuring your success to goals you actually care about, you're setting yourself up for disappointment.

Comparative investing is a loser's game. It can:

* create a never good enough mindset

* cause you to over trade and chase investments

* make you susceptible to product sales pitches

* cause you to take too much investment risk (for no reason)

* increase your stress

* cause you to become disillusioned with investing

Last week, I asked a recently retired couple what they wanted. Did they want to keep up with the market or have confidence that they could maintain their lifestyle? You guessed it, they didn't care about the market, they cared about their life. Smart ones, they are.

 

PLAN WELL Segment

During working years a lot of our purpose comes from our job, but once we stop working nothing will automatically replace it. Unless we are intentional and planful, retirement can feel like a big let down.

John Knowlton, CFP, just launched beerandpeanuts.net to help you avoid this big letdown. He's created resources in 3 areas that research has shown are critical to a healthy retirement:

* Purpose (a reason to get out of bed)

* Meaning (what if leisure isn't enough?)

* Social contact (people to connect with)

Listen to our great conversation for key insights into how to create your own fulfilling retirement.

Want to Learn to Retire with Confidence?

Get ready for a special never before seen event coming in January.  Get Ready for Retirement Plan LIVE.

Sign up below for free updates on this special month long event.

 

[spoiler]

The Retirement Answer Man Episode #43

Are you sacrificing the only life you have so that you can take care of your tomorrow? Or are you living too well today and not even worried about tomorrow? How do you find that balance between living well today without sacrificing your tomorrow? That is the mission of the Retirement Answer Man podcast.

Thank you so much for joining me! My name is Roger Whitney. I am the Retirement Answer Man and I’m so happy to have you here today.

In our Invest Wisely segment today, I’m going to challenge you to stop watching the benchmarks in the markets and go focus on creating a great life. I’m going to implore you to do that.

In our Plan Well segment, I’m going to ask you another question. I’m going to ask you, when you retire, will you be drinking beer and eating peanuts by 10:00 am? Are you going to be so bored after a couple of months of retirement that you’re just, “Okay, by 10:00 am I’m sitting in my sofa, drinking beer, eating peanuts”?

I have a great conversation with John Knowlton, a CFP and a super smart guy, about how to find meaning in retirement and it’s something that we don’t think about a lot. I’m excited about today’s show.

I’m also excited about this announcement.