Investing Strategies for 70-Somethings pt. 1

What’s Your Next Action Step? When it comes to achieving economic freedom, often your next action step is the most critical. In fact, it’s a sad reality that most Americans will never achieve economic freedom, and the main reason why is a failure to take the necessary next steps. In this week’s leadoff segment, I offer you a few key results-oriented steps to help you move toward your long-term financial goals. Plus, why the stock market is simply a tool, not an end in itself. Liquid vs. Illiquid Assets When it comes to assets, there are generally two kinds: liquid and illiquid. Liquid assets can be turned into cash in a day or two while illiquid assets are a whole lot more difficult to turn into cash. In today’s second segment, I offer some thoughts on how to think about when to sell illiquid assets… and when to hang on to them. Plus, three real-world examples that may apply to you. Investing Strategies for 70-Somethings, Part I You’ve made it to your 70s, and this is perhaps the most critical decade to get your financial life right. The reason why is because you usually don’t have the luxury of time to recover from a bad move. In today’s final segment, I cover the most critical components of achieving economic freedom in your 70s. Plus, why your “burn rate” is a critical metric to understand.