This week’s principle is fundamental and translates across many spectrums of life. It is most famously conveyed through the age-old tale of The Tortoise and the Hare. This story has been passed on for generations and provides a very sound lesson on taking direction in life. When asked why the tortoise won the race, those familiar with the tale will likely respond “because he was slow and steady.”
Although slow and steady did prove valuable for the tortoise, as it represents his focus and drive, it is a common misconception to attribute this to the tortoise’s victory. When attempting to reach a major goal like establishing a comfortable retirement, moving slowly and steadily will get you nowhere if you’re not moving in the right direction.
Constantly moving in the direction of his destination is what truly allowed the tortoise to prevail over the speedy, yet distracted hare. The hare got caught up in chasing glory, which often took him off his path to his destination. The tortoise stayed focused and took each step towards his end goal.
The same story applies to retirees, who want to achieve comfort throughout retirement. If you follow the path of the hare and take on risk in pursuit of high returns you will be taken off track in the event of any market downturns. Especially during a market crash, you will find that one step forward can be followed by several steps back.
As you get closer to retirement age, you simply cannot afford to lose the hard earned gains you have made over a lifetime. That’s why it is especially important to take the direction of the tortoise and keep moving forward, away from the high risk and fees that come with securities investing, and closer to a secure retirement.
A Crash Proof Retirement™ abides by this principle and protects you from setbacks, while guaranteeing your retirement savings only moves in one direction: towards your destination.
It almost sounds too simple, but the best way to make money is not to lose it to begin with. And the best way to meet your retirement goals is to make sure the money you have spent a lifetime accumulating can only move forward. Prevent your life’s savings from ever taking a step back, and ensure that you’re always moving safely through your retirement – which then becomes the recess of your life.