Retirement Mindset: Will You Be Ready?

One of the 5 ways to spend money is “future lifestyle support”, so what is the mindset you need in order to be ready?

Podcast Details:

Podcast Title:  Retirement Mindset: Will You Be Ready?

Podcast Series: The Maven’s Keys to Financial Contentment

The Maven’s Keys to Financial Contentment is my idea that true financial contentment can be found when an overlap of money and beliefs occur.  Many people ask the question of how to be “financially content” and this is a discussion to uncover those answers.

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WHAT WE’RE TALKING ABOUT TODAY

  • How do you become retirement ready?  A recent article (click here to see the article) I read talked about 3 excuses that people use to not be ready.
    • 61% of survey respondents have said they have saved for retirement, but only 56% were currently saving.  Of that 56%, just 18% were confident in their plan.  That is a problem!

Excuse #1:  “I don’t have enough money to save…”

The mindset here is usually of living today and not prioritizing tomorrow.

Excuse #2:  “Retirement is far off…”

The mindset is framed around the fact that our brains need goals that are not too far in the future that they seem unattainable or unnecessary to focus on.

Excuse #3:  “I can’t afford to suffer a loss like I have before…”

The mindset is framed around loss aversion (more concerned with avoiding loss versus achieving gains).

#finlit#behavioralfinance#behavioraleconomics#moneymindset

About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

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