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Why do you need a financial backup plan? Because we don’t know what the future holds. Some people set to retire in 2020 may have lost up to 20% of their portfolio with the recent crisis. Or you might have cold feet about retiring with how uncertain life is right now. Or you may be one of the thousands who was let go this year and are retired by default. If you don’t have a financial backup plan for your plan—where does that leave you? In this episode of the Capitalist Investor, we talk about the need for a backup plan and what the planning process looks like. 

Outline of This Episode

• [0:16] Why you NEED a Financial Backup Plan
• [4:13] What having kids teaches you about the economy
• [6:42] You need to prepare for the “what-ifs” in life
• [12:45] Why you need a robust financial plan
• [15:44] Have a deep understanding of your risk tolerance
• [17:22] The importance of properly allocating your assets
• [19:18] There is NO one-size-fits-all investment strategy 
• [20:17] Financial backup plans are a game changer

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