Apr 25, 2023
In this episode, The Annuity Man and Terry Savage discuss:
Responding to current financial issues
The bulls, the bears, and the chickens
Should you wait before taking social security?
The biggest legacy you can leave
Don’t panic at every scary event that you hear from the news. Recognize America’s history of resiliency and the crises the country has gotten through. Also, check for yourself if and how current financial issues affect you personally before reacting to them.
In every stage of your life, you should divide the markets into the bulls, the bears, and the chickens. You should always have chicken money, it is the alternative to risk. Having discretionary funds that help you sleep at night is nothing to be ashamed of.
If you have the financial ability to do so, consider waiting before taking Social Security until age 70. That’s because there’s roughly an 8% increase in your benefit per year in the years after your full retirement age.
Your biggest responsibility isn’t the decisions you make or who you vote for, though those are really important. Your biggest responsibility is to pass down real history and to share the value of the American free enterprise capitalistic system to the younger generation.
"Self-discipline is the essence of all decision-making. You don't want to be making decisions out of panic. You need to set money aside and decide where it's going. Peace of mind is priceless." — Terry Savage.
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