As you prepare to say goodbye to work, there are some excellent retirement quotes and sayings that can get you inspired to say hello to your new beginning.
Here are a few of our favorite quotes with explanations of how the sayings relate to retirement.
“Different isn’t always better, but better is always different.”
-Lee Brower
The process of planning and designing your portfolio should be as creative as planning and designing a great building, and that’s what we’re here to do for you.
“Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit at home and think about it. Go out and get busy.”
– Dale Carnegie
The longer you wait to start thinking and planning for your retirement, the more likely you will be to have fears about it.
“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”
– Albert Einstein
Compound interest is an asset’s exponential growth over time due to the gradual inclusion of interest.
“Self-reverence, self-knowledge, self-control –
These three alone lead life to sovereign power.”
Alfred Lord Tennyson
When we omit the personal aspects of our life, we find it hard to tell one person from another. Luckily, that’s not all there is. Each of our lives is meaningful for the color we add to it.
“No man is fit to command another that cannot command himself.”
William Penn
Retirement is not the end of your life. If anything, it’s your life magnified.
“Confronted with the challenge to distill the secret of sound investment into three words, we venture the motto, Margin of Safety.”
—Benjamin Graham
The stocks, bonds, annuities and mutual funds used to harbor your money should be balanced in a way that will help you reach your goals, while also ensuring the vitality of the assets over and above volatile market situations.
“Beware of little expenses. A small leak will sink a great ship.”
-Benjamin Franklin
Your expenses don’t just represent your spending, they represent who you are. Are you the type of person who only eats out once or twice a week or are you the type of person who takes joy in paying for your whole extended family when you dine out? Do you buy expensive items at full retail, or do you wait for them to go on sale? These may seem like comparatively small matters, but everything you do affects your life in retirement.
“The great marriages are partnerships. It can’t be a great marriage without being a partnership.”
—Hellen Mirren
If you’re married or share finances with your partner, the success of your budgeting strategy is dependent upon your willingness to communicate openly about money and spending habits. Regular discussions about money with your partner may be uncomfortable at first, but if you approach it in the right way, it can form a vital pillar in your partnership.
“The goal of retirement is to live off your assets – not on them”
― Frank Eberhart
Pension plans were once noble institutions that benefited both employee and employer. It’s no surprise that those who have been in the work force for thirty years or more will look at pensions with a sigh of nostalgia, because things have changed. Defined Contribution plans have become more or less the norm, especially for the private sector.
“What we hope to do with ease, we must first learn to do with diligence.”
-Samuel Johnson
You have probably begun the process of saving for retirement in some capacity. Think about your level of preparedness and decide what the next step for you might be. Think of small steps that might improve your situation over time, whether that be ramping up your contributions to an employer-sponsored plan, or looking into options outside that if you’re maxing out your contributions, or if a 401(k) isn’t an option for you.
“We think in generalities, but we live in detail.”
-Alfred North Whitehead
When shopping around for investment products, there is a dizzying amount of choices. The market is full of mutual funds and annuities. The details reveal how these products may apply to your life and which may be the better choice for you.
“Happiness is not a matter of intensity but of balance, order, rhythm and harmony.”
-Thomas Merton
Even if you know very little about investing, it’s likely you’ve heard that keeping your stocks diversified is a good idea. Theoretically, you can’t really argue against the benefits of a diverse portfolio. However, it is possible to sacrifice returns through too much diversification. This can express itself in a few ways, but something we work to avoid is blindly diversifying.
“Paralyze resistance with persistence.”
—Woody Hayes
For anyone just starting out on the savings process, the natural question you want to ask is, “How much should you be putting away?” This is a very personal question that evades a one-size-fits all answer. Every extra dollar that goes into your retirement account will end up being much more than a dollar—not spiritually or emotionally, but mathematically.
“Bonds, despite their ridiculous yields will not easily be threatened with a new bear market.”
-Bill Gross
Bonds may not get your pulse pumping like certain stock market investments can, but these secure vehicles for your capital are an integral part to almost everybody’s portfolio.
“Retirement isn’t scary, the process is. Let us simplify it for you.”
-Sid Miramontes
Perfect attentiveness to a clearly stated goal yields beautiful results.
Schedule an in office or over the phone consultation to discuss how Miramontes Capital can help you with your new beginning through retirement and estate planning.