
Honest Money
Honest Money
Purpose, Planning, and Portfolio: A Guide to Thriving After Retirement
In this episode, Warren Ingram and Pieter de Villiers discuss the challenges and strategies associated with achieving financial freedom, particularly during market downturns. Talking through the psychological aspects of investing, the importance of planning for withdrawals during retirement, and the need to find purpose and income post-retirement.
Takeaways
- Achieving financial freedom can be daunting during market downturns.
- Panic selling is one of the worst mistakes investors can make.
- Understanding psychological responses to loss can help in decision-making.
- Markets typically experience fluctuations; this is normal.
- Controlling expenses during retirement can help manage financial stress.
- Finding purpose post-retirement is crucial for emotional well-being.
- Investing in a balanced portfolio is essential for long-term success.
- Phasing investments during volatile markets can mitigate risks.
- Having a cash buffer can provide security during market corrections.
- Emotional management is key to successful investing.
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