Today we’re getting back to the basics of financial planning by sharing the five commandments. These rules of thumb will serve as your financial compass and ensure that you’re on the right path for retirement.

 

Read more and get additional financial resources here: https://johnsonbrunetti.com/5-financial-commandments-everyone-should-follow/ 

 

Today's show schedule: 

0:43 – Financial commandments today

1:23 – No 1 - Thou shalt not compare your investments to the stock market without proper context.

3:49 – No. 2 - Thou shalt not give up before giving your strategy enough time to play out.  

5:05 – Warren Buffett always finds a way to simplify things.

5:50 – No. 3 - Thou shalt not chase big returns later in life.

6:18 – No. 4 - Thou shalt not ignore cost and fees.

7:08 – No. 5 - Thou shalt not overlook the importance of rebalancing and diversifying.

8:31 – Mailbag Question #1: I feel good about the amount of savings we have relative to the amount of income we need in retirement. I’m worried about nursing home costs and don’t have a good feel for how to plan for that. What’s your approach?

10:33 – If someone doesn’t have a plan, what’s the process to make that happen?