My financial adviser's advice changed how I see my retirement savings - Business Insider

to fall back on. Creating my retirement plan was up to me, and at that point, all I had managed to do was invest a small amount of money in stocks that weren't growing.

To this day, her advice has totally changed the way I look at my finances, and hopefully it will change how you look at yours too.In the middle of setting up my new retirement accounts, my financial adviser suddenly got more serious. She then told me a story about a man she knew years ago. By her account, he was diligent about contributing to his retirement funds. However, every few years, he would also pull from them. Each time, he had a good reason for doing so. One time, his home needed extensive repairs; another, he and his wife badly needed a new vehicle.

She wrapped up the story by telling me that if my retirement accounts are going to be my main source of income, my goal should be to make sure I have as big a cushion as possible. After all, I have no way of knowing how long I'll be retired.With that cautionary tale fresh in my mind, I resolved never to touch my retirement accounts unless I'm adding to them. In my mind, they're on lockdown, unable to be accessed for the next 35 or so years.

Do People understand Importance of Financial Literacy?

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Google is offering advice on FedNow - Business Insider Intelligence - Business InsiderGoogle's suggestions for the Fed could be effective, but they could also accelerate the threat big tech firms are posing to US payments and commerce:
Source: BusinessInsider - 🏆 729. / 51 Read more »

Facebook's data transfer from EU to US valid, says ECJ adviser - Business InsiderThe way Facebook transfers people's data abroad from the EU is valid, according to an adviser to Europe's top court
Source: BusinessInsider - 🏆 729. / 51 Read more »

These are the best photos Business Insider took in 2019 - Business InsiderThe year in pictures: From iconic IPOs to the backstage of Carnegie Hall, these are the best photos from Business Insider in 2019
Source: BusinessInsider - 🏆 729. / 51 Read more »

My financial planner was so helpful I no longer need one - Business InsiderWe're leaving the door open for working with an planner again down the road when life circumstances change or we just want another check-in to be sure we are still on the right track i believe there has been a grammatical error in this tweet, it comes as '...a planner'
Source: BusinessInsider - 🏆 729. / 51 Read more »

How One Fruitcake Shop Became A Multi-Million Dollar BusinessThis fruitcake recipe launched a multi-million dollar business See how on Business Insider Today: FUCK YEAH LETS DO SOME SHOTS
Source: BusinessInsider - 🏆 729. / 51 Read more »

6 things a financial planner can do so you don't have to - Business InsiderIf you feel stressed, confused, or overwhelmed by your money, it might be a good time to hire a financial planner to take some tasks off your plate.
Source: BusinessInsider - 🏆 729. / 51 Read more »