You may have seen this ad by Prudential. I am not receiving financial payment for putting their ad on my site, I am using this great video to communicate the same basic idea that Prudential is suggesting. My question is the same as theirs,”Who is the oldest person that you know and do you have enough money to live that long?”
It is a simple enough question. If you know someone that is 90, shouldn’t you expect to live to 90? If you know someone that is pushing 100 (especially if that person is in your family) doesn’t it make sense that you might live to be 100? If you are planning to retire at the young age of 65, that means 35 years of living off of your savings!
How much do you need to live on when you are retired? Some say a fairly conservative number that will pay their bills and leave them sitting on the porch for 35 years. I actually want to enjoy my retirement life. I want to Retire in Luxury!
I don’t care if you want to use Prudential as your broker. That is a personal decision. You probably shouldn’t just give them your money and trust that they will maximize your investment. You should probably use your brokerage account at Prudential (or any broker that you choose) to invest in the stock market according to my book, The Confident Investor. You can purchase my book wherever books are sold such as Amazon, Barnes and Noble, and Books A Million. It is available in e-book formats for Nook, Kindle, and iPad.