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The Path and The Goal
Written by Steve | Published: |
Last weekend me and a friend took our sons and some of their friends from church on a hike. We wanted to do something challenging where the boys would feel a sense of accomplishment when they finished so we decided to head out to Scottsdale and hike Camelback mountain.
If any of you have ever conquered this feat you will know that the hike is not very long, maybe 2.5-3 miles up and back, but it is rated a double black diamond because the last third of the hike you are literally traversing up rocks with your hands and feet.
Once we got to the top, not only did we get to soak in the beautiful view but we were able to catch our breath for a few minutes.
Personally as one of the guides to these young kids, I was much more concerned with the way down then the way up. It is a much more dangerous part of the experience.
Going up it is much easier to use your hands and feet but going down it can be easy to slip and there is not a lot of room for error on this particular hike.
If you slip on some gravel or trip over a rock you could be quickly seeing yourself off the edge of the cliff.
This experience reinforced something that I speak with all my clients about.
Most advisors think that the main point of retirement is the peak, in other words when you actually retire. They use words like target date funds etc. to help you feel safe that you are going to make it to the top.
My focus is simply much different than that of a traditional advisor. Although I want you to hit your peak funding for retirement, I am much more concerned with you having plenty of cash flow throughout your full retirement. In other words, I want you to make it down the mountain safely.
Traditional retirements fail because of two major reasons:
They can’t plan how long you are going to live
They can’t guarantee you what return you are going to get
This is where it is much more beneficial to you to work with a specialist that knows their way down the mountain. We can simply show you the path and help you stay on it all the way down so you don’t tumble off the edge of the cliff.
As a side note, today marks what would have been my Dad’s 71st birthday and my Mom and Dad’s 45th anniversary. Tonight we are celebrating with my Mom and siblings by going out to a nice steakhouse.