Planning for the future is a crucial step in securing a stable financial future… 

In this episode, Nic Nielsen, a CFP® from Know My Plan and author of Visual Finance,  shares some key points to consider when planning for retirement. He emphasizes the importance of healthy living habits and sports, as they can greatly impact the quality of your golden years. Blindly trying to achieve financial freedom without proper planning is a recipe for disaster, which is why having a qualified consultant to help and educate you along the way is essential. 

Nic also highlights the "3 Barbarians of Retirement" and provides insights on how to turn them in your favor. Despite starting his college years in engineering and venturing into the world of banking, Nic eventually found his calling as a financial advisor who helps people of all ages plan for a secure future. 

Episode Highlights
[4:16] Why financial planning is like engineering 
[7:54] Importance of having a backup plan or emergency fund during market downturns 
[13:03] Charles Schwab and other banks suggest that holding bonds until maturity can help avoid short-term paper losses, as they get paid out and become irrelevant if held until maturity or the yield to worse.
[19:55] Being average in the stock market can put investors in the top 1% compared to other investment options 
[24:20] Studies show that wealth passed down to the second or third generation of millionaires is usually completely used 
[29:16] Starting early is key when it comes to thinking about long-term care
[29:53] Why planning for long-term care is crucial
[33:23] Why many financial advisors do not discuss how being physically active can control your future expenses and retirement
[44:29] The importance of avoiding to become a burden on your children for their personal growth and development
[47:06] The key to achieving goals is to start taking small steps forward, just like taking baby steps

Links
To learn more about Nic Nielsen’s businesses check out https://knowmyplan.com/about-us/  

You can also check out his LinkedIn profile, Nic Nielsen

Nic Nielsen’s book: Visual Finance

Know more about the host Thatcher Taylor on social:

Instagram: @propathfinancial and @dadbodfinancial

✅Contact Thatcher at [email protected] with comments and questions!

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DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.