Ep 14: How Would You Do In The Financial Planning Olympics?

Ready to suit up and compete in the Olympics? Since the 2020 Summer Olympics have been postponed, let’s keep the games going by applying it to the world of financial planing? Will your strategy and preparation help you succeed? Find out in today’s podcast!

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The Game Plan

The Summer Olympics is one of the many things unfortunately postponed right now due to coronavirus. Since we can’t sit around cheering on our favorite athletes, let’s talk about some of the different ways we can place on the metaphorical podium while playing in the olympics of financial plans.

What are some of the main games or obstacles you face when creating and following a financial plan? Consider the marathoners who prepare to pace themselves for the long run, much like you need to with inflation. Or, think about the hurdles ahead if a recession hits. How well will you and your investments do?

Is your portfolio well diversified? Gymnasts have to find a way to balance on a thin balance beam, likewise you need to walk the line of a well-diversified portfolio. How are you diversifying your investments? Does it align with your financial goals?

Finally, is your financial plan working cohesively? From your tax planning to estate planning to investments, you want everything to synchronize seamlessly.

So, how did you do? Did your plan leave you feeling victorious?


The X’s & O’s

Check out the timestamps below to skip around to specific topics on the show.

[0:51] – The summer Olympics have been postponed due to coronavirus.

[2:31] – What would be included in the financial planning Olympics?

[2:47] – Facing the marathon of inflation over the long run.

[4:05] – Prepare for the hurdle of a recession.

[5:59] – Make sure to keep the hidden fees down. 

[9:06] – Can you balance on a thin line of diversified investments?

[10:51] – Are you working as a unit like the synchronized swimmers?

In a well-diversified portfolio of stocks and you rebalance on the highs and lows, that’s going to help pace inflation. So, you always want to have some money there for the rest of your life.

– Dale Tondryk

More To Explore

Ep 88: The Retirement Lifestyle

We’re taking a quick break from the Xs and Os of retirement finances today. Instead, we’re going to talk about some other important pieces of forming your retirement lifestyle. Join us as we discuss staying busy, the significance of social connections after you’ve stopped working, and maintaining your physical and mental health throughout retirement.

Ep 87: Social Security Myths

Have you ever wondered if the Social Security system will run out of money before you retire? Or if claiming benefits as soon as you’re eligible is the best decision for your financial future? In this episode, we’ll be debunking common myths about Social Security and answering the questions you’ve been curious about.

Ep 86: Don’t Get Lost In Retirement

Getting lost while driving in the car or hiking in the woods is kind of like getting lost in retirement planning. It can be tough to find your way without the right guidance and tools. But fear not! In today’s episode, we’re going to explore the most common mistakes people make in retirement planning and share some insightful advice to help you stay on track.