Stick to the Plan | Wisdom, Wealth, and Wellness
Stick to the Plan | Wisdom, Wealth, and Wellness
Consistency and discipline are key to long-term wealth management. Read on to see how a steady strategy leads to lasting success.
I was sitting with a client that I started with in 1994, 30 years into our relationship, and another client, with whom I started with in 2004, so, 20 years into our relationship. And I was looking back, and we had created an asset allocation and a forecast for their future. The forecast included assumptions about social security, income, and retirement, and what they’d be spending based on inflation—and the projection of assets they’d have.
We’re now 23 years later, in two different cases, and the spending is almost exactly what we had projected.
They had moved, they had relocated—a lot of things changed in their life. But the spending, as we forecasted, was going to increase by 3 % a year, basically doubling every 24 years. That was pretty much on target. And the assets and the accumulation of investable assets to be able to draw in and support that spend rate was pretty close, plus or minus 10%.
Why did it work? Because they were disciplined, they stuck to the plan, and they ignored the noise. They didn’t get caught up in the hype of the day.
So, you can live a really fulfilling, full life by just sticking to the plan on your path to Wisdom, Wealth, and Wellness.
Have a great day.
Get the Latest Wealth Insights, Delivered.
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.
Further Reading
Stamina & Endurance
Jonathan Satovsky Interviews Rabbi Simon Jacobson
Always on the run
