Saving | Wisdom, Wealth, And Wellness

Jonathan Satovsky
CFP®, ChFC®, CIMA®, CPWA®, CDFA®, DACFP

Good morning, good afternoon, good evening. Depending on the part of the world you’re in. This is Jonathan Satovsky of Satovsky Asset Management, and I want to talk about the importance of saving.

According to Goldman Sachs, reportedly 51% of retirees are living on less in retirement than their pre-retirement lifestyle. 51%. Now, some of it is due to early retirement because of health concerns or layoffs, or other conditions outside of someone’s control. So it reminds me of the importance, whether the markets are up or down, why it’s so critical to save in good and bad times.

In fact, for 2022, the markets for a balanced stock and bond portfolio are down sharply, a lot more than what people expected. This is the fifth time in 94 years. That means 89 years this didn’t happen. Pretty good probability, pretty good odds of positive outcomes, but fifth time in 94 years that both a balanced stock and bond portfolio would be down, and down of significant magnitude. So that’s something outside of our control. You’re not going to necessarily outsmart the five years of 94 that they’re going to go down because you may end up missing out on 89 really, really good years.

So what do we need to do? We need to control the controllables. What we save, how much we set aside, and our spending relative to what we save is what makes people sustainable rather than having it outsmart the world. And that sustainability is getting to a point where you can spend under 2% to 3% of your investable assets. Hard to conceptualize. Start early, start often, and keep at it, because life and longevity are risks that people have to be mindful of.

Have a wonderful day.

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Video Recorded November 23, 2022
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Disclosures

This blog post is not intended to be, nor should it be construed or used as, an offer to sell, or a solicitation or offer to buy any securities or interests in any strategy offered by Satovsky Asset Management, LLC (“SAM”). SAM is a registered investment advisor with the Securities and Exchange Commission – for more information see www.adviserinfo.sec.gov. Please remember that different types of investments involve varying degrees of risk, and that past performance is not indicative of future results. Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the strategies recommended or undertaken by SAM) will be profitable. Market index information shown herein is included to show relative market performance for the periods indicated and not as standards of comparison. The market volatility, liquidity and other characteristics of SAM’s portfolio composition are materially different from the securities listed on public market indices. Market index information was compiled from sources that SAM believes to be reliable. No representation of guarantee is made hereby with respect of the accuracy or completeness or such data. Opinions are as of date of video and are subject to change. A copy of SAM’s current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request. SAM undertakes no duty to update information presented herein.

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