What do you feel? What do you think? What do you know?

What do you feel? What do you think? What do you know?

February 28, 2019

What metric do you use to measure your financial progress? Do you rely on your feelings? Your thoughts? Or do you rely on what you know? If you could only pick one, which would it be? … Be careful, your answer matters a lot!

If you rely primarily on what you feel, how do you know if something worked out? Do your feelings confirm it for you?  Have they ever made you overconfident or too wary of something?  

Or do you, instead, rely on what you think? For example, are you one who plans to take Social Security at the first opportunity because you think it won’t last? Do you think retirement will be the perfect time to develop interests that will occupy your time?

At Goostree Financial Group, we would never tell you to disregard your feelings or to ignore what you think. However, we would tell you to plan your financial future less around feelings and thoughts, and more around what is known. As an example, while you can’t know how long you will live, you do know people are living longer.  You don’t know what future tax rates will be, but you do know today’s tax rates are below historical levels.  You don’t know how much things will cost in the future, but you do know they will, for the most part, cost more.

Do you have a plan for these and countless other items that you will face in retirement? At Goostree Financial Group, we have been helping clients make decisions based on what they feel, what they think, but mostly what we know, for almost five decades. We can help you too.