Ep #6: What Flying Can Teach Us About Retirement Planning
When was the last time you took a flight? Did you think at all about how that process related to investing? Probably not, but there are actually some pretty great parallels between retirement planning and flying that we will talk about on this episode. Buckle up and prepare for takeoff.
The Reality of the Matter:
We often look at different industries to find examples of strategies that can be applied to investing, and today we want to talk about what flying can teach us about retirement planning.
It might not seem like an obvious connection but there are key parallels between the two that can provide a new perspective on your retirement. That’s the focus of today’s episode of the Retirement Reality Podcast with Mike Kojonen. He’ll help explain why flight plans, air traffic control, and turbulence all have to do with your retirement plan.
Much like flying, you’ll want to make sure you have everything in order so that you reach your final retirement destination when and where you want to. Taking this guidance will help that process and hopefully give you greater clarity on planning.
We also take a few minutes to ask Mike about a recent headline in the news that nearly one-third of households in this country are mortgage-free. Are you in that group? And is that number higher or lower than what you expected?
We’ve laid out the main topics below to make your listening experience more organized. Feel free to click the timestamps to jump around to a specific topic in the episode.
Just The Facts:
2:36 – Introducing our topic on today’s show.
3:32 – In the news: 37% of households are ‘free and clear.’ Is that number high or low?
4:49 – 75% of our clients are free and clear and the others are pretty close.
5:44 – Beginning our main topic of what flying teaches us about retirement
6:09 – The first lesson: You need a flight plan.
7:42 – You need someone with experience to build the correct flight plan.
8:51 – The third lesson: Turbulence effects different people in different ways.
10:15 – Your plan, like an airplane, is built to withstand the ups and downs.
11:00 – The final lesson: You need help along the way to get from point a to point b.
11:50 – Past success can really hurt you. Here’s why.