“I have always believed there are no shortcuts to greater understanding. You simply have to work through the basics.” – Robert Hagstrom
Someone recently asked me to put together a simple, easy to understand presentation about saving for retirement that they could share with their work colleagues to go over the basics. Since I champion simple over complex and less is more, I thought this would be easy.
In reality, there are many decisions that we have to make about saving for retirement. How much should I save? What should I invest in? What should my asset allocation look like? How much do I need in stocks?
It’s not easy to keep these decisions simple. But learning or even reviewing the basics can be very helpful, even if you’ve heard it all before. The basic pillars of saving for retirement are well known but people still have a hard time putting them to use.
Since more choices can lead to an inability to make the tough decisions, going over the basics is a great way to focus on the really important areas to plan for your retirement.
Einstein once said, “Make things as simple as possible, but not simpler.” That’s my goal.
Here’s what I came up with:
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