On This Episode
Getting through retirement can be a lot like running a marathon. We’ll share some of the similarities on this episode so you can make sure you training is on track.
On today’s Saving With Silverman podcast, Mark Silverman CFP® explains how getting through retirement can be a lot like running a marathon.
Planning and preparation
A lot of people assume that training for a marathon involves just going for a long run every day. But it actually involves a lot of planning. Most marathoners spend at least six months in training, mixing in days with light runs, some days with long runs that simulate the marathon, and other days with shorter, faster runs.
It’s the same thing with your retirement plan. You should have different dollars invested in different ways to accomplish different tasks. And your portfolio should have some planning behind it, not just haphazard investment choices.
There are a lot of questions to consider. Do you have health care in place? Are you old enough for Medicare? Have you looked at inflation projections? When do you take Social Security?
Before a marathon, most people do a carbo-load to prepare in the days before the race.
The body burns carbs more efficiently than it burns fats, so having the right amount of carbs in your system helps your performance while running.
With your retirement planning, you need to be paying very close attention to your portfolio in the years leading up to retirement. You can’t afford any big losses, so it’s important that you have the proper diet to be sure you’re properly managing risk.
You want to have the right mix in your portfolio.
Listen to the entire episode to hear more. Click on the timestamps below to skip to a particular segment.
You’ve got to have the right balance. When you do retire, you want to be able to travel or whatever it is you want to do in retirement.
- Mark Silverman, CFP®
Let’s get rolling with the first episode and you can use the timestamps below to skip around to specific topics.
0:53 – Planning and preparation
2:45 – Proper diet
4:13 – Don’t start too fast
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