Dec 21, 2018
Football season is a glorious time of year, and believe it or
not, we can learn a lot about retirement from the game. Join us as
we learn from the gridiron.
What You'll Learn:
00:49 –A Quick Aside About Football.
- Joel shares the tribulations that come with being a Minnesota
2:44 - Protecting The Ball In The Red
- The red zone is comprised of the last twenty yards from the end
zone on the football field. If you're in the red zone, you need to
protect the football, and make sure to score. Conversely, if you're
on defense, you've got to stop the other team. In retirement, the
red zone consists of the five years leading up to and just after
retirement. During this time, it's critical you minimize your
4:51 - The Hurry-Up Offense.
- Late in the game, you'll see a team forego the opportunity for
a huddle and deploy their hurry-up offense. Usually, that team is behind,
and they're trying to make up for lost time. In retirement, it's
tempting to play catch-up and take on more risk in your portfolio.
Don't do it. It rarely works, and it can cause more harm than
6:47 - Taking A Knee.
- If your team is ahead late in the football game, they're
probably going to take a knee and execute what's called a victory
formation. This means they'll run out the clock rather than trying
to run a play. The idea is to minimize mistakes and come away with
a win. As you approach retirement, don't take on large investing
risks when you're already ahead. As one advisor said, why keep
playing the game once you've won the game?
8:26 - Good Coaching Makes A Difference.
- This one speaks for itself. Guys like Bill Belichick and Nick Saban know how to field a good team every
single year. In retirement, you need a strong financial coach who
can help execute your proverbial playbook. You need them to guide
you as you plan and keep you on course along the way.
Other Bits And Pieces:
11:23 - Joel Takes A Deep Dive Into Explaining Bond
- Bonds are confusing. Joel gives us a quick explanation of how
15:30 - Joel And John Talk Taxes.
- Many of you aren't taking proper tax planning steps. You might
even assume your taxes will be lower in retirement. In reality,
that might not be the case.
"Why keep playing the game once you've won the game." -
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For further exploration of this topic and additional resources,
check out our blog here: https://johnsonbrunetti.com/financial-lessons-football/