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Highway to the Danger Zone
Written by Steve | Published: |
Our favorite movie of the summer was hands down, Top Gun: Maverick. If you are a fan of the first Top Gun movie you will remember the iconic song “Highway to the Danger Zone”. It was a great movie and if you haven’t seen it maybe you can still catch it in the theaters.
This morning I heard a story of someone that was driving their Tesla from Flagstaff to Phoenix. It’s normally only a 2.5 -3 hour drive and 140 miles away. They were fully charged and it should have been no problem.
However, on the way home there was an issue on the road that kept them at a stand still for hours.
Long story short this Tesla owner looked down at their battery level and only had 12 minutes of charge left with no charging station for 70 miles and they had to call a tow truck extending their nightmare travel experience.
If you aren’t already aware, there is something in retirement planning called the retirement danger zone. And it refers to the 5 years before you plan to retire and the 5 years after you start retirement as illustrated below.
Far too many people today are not aware that if they own any at-risk assets (meaning they could lose value) during this 10 year window the financial losses could devastate your cash flow in retirement.
So if you like to reverse engineer your success and don’t want to be sitting on the road with dead batteries so to speak in your retirement. Now is always the best time to make sure you are ready for your retirement adventure.
There are so many other options that can create more financial peace and security while still giving you growth.
If you want to scrub through your current plans and look at some other options just reply to this email and we will find a time to visit.