Mile 9 | The Retirement Race - It’s a Marathon, Not a Sprint
At the end of the day, your plan is only ever as good as its execution.
I suspect most of us have learned this lesson the hard way. You sign up for the big race and start strong on that robust training plan.
For the first few weeks, you’re all in. Logging those miles. Staying on point with nutrition and hydration. Getting those crucial hours of sleep.
But then, you start to stray. You miss a mile or two here, compromise on recovery there, and, before you know it, you’re completely off track with that long run right around the corner. Cue blind panic.
As much as a marathon is about going the distance, so is the dedication to your training plan. Not only does a solid plan ensure you’re ready for the main event, but it also gives you guidelines for adjusting or adapting as needed when life happens.
This same logic holds true with your retirement plan. We see time and time again a gorgeous financial plan start strong only to start collecting dust in a binder somewhere on a shelf.
Standard practice tells you that revisiting your retirement plan once a year will check the box, but I’m here to challenge that conventional wisdom.
Much like your race training, you don’t want to be revisiting and attempting to adjust months into the effort. The better part of valor is to do temperature checks on progress every couple of weeks to help get ahead of necessary pivots.
When it comes to your retirement plan, I’m a proponent of quarterly or bi-annual check-ins to help our clients stay the course. This ensures their plan is top of mind throughout the year and gives us padding to adapt if needed or celebrate progress.
Ready for a retirement plan that will take you the distance? At Compass Financial, our philosophy is based in beginning with the end in mind. Get in touch with us today to learn more.