Five keys to ensure you have a happy and prosperous retirement RetirementPlanning
Well, like anything in life, it was a combination of luck and common sense. Let’s take a look at how Ron’s 100 years have set him up very well for the rest of his investment journey.As a centenarian, Ron, of course, has had a lot of time. Everyone in the investment world will tell you it is the time in the market, not timing the market, that works best. Ron likely bought his first stock 70 years ago . That kind of long-term thinking can certainly help with an investment journey.
Having a nice chunk of change come in every single month can be a significant advantage for an investor. For example, a pension can be a source of significant buying power in a market correction for those inclined to step into the market when others are panicking. At the very least, that monthly income prevents an investor from having to dip into their capital for ongoing expenses, allowing more time for investments to grow and compound.Article contentMaybe it’s his years of being a principal, or just his general nature, but Ron doesn’t seem to get stressed out.
Not everyone has a pension, but every investor could do better from just chilling out on occasion. Ron has been a great example of this for as long as I’ve known him.Yes, an indexed defined-benefit pension is a significant advantage to a retiree. We have talked in the past about how investors can use their pensions as their fixed-income allocation in a portfolio set-up. But, as far as I know and I have asked , Ron has never owned a bond in his life.
Having an all-equity portfolio is not for everyone, but it has certainly worked for Ron. Equities, given enough time have nicely outperformed bonds, putting Ron in his current envious position.
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