With March Madness about to come to a close and the NBA Playoffs around the corner, basketball is still on the mind for some people. What can we learn about retirement planning by exploring some concepts in the game of basketball? We also discuss how the city you live in can have a drastic im…Listen Now
Hesitant to Change?
The Case of the Boiling Frog
It has been said that if you place a frog into a pot of boiling water, it will immediately determine that the water is dangerous and will jump out. However, if you place the same frog in a pot of room temperature water and gradually bring the water to a boil, the frog will not notice the change, will not jump out and will eventually come to its demise.
Unfortunately, we have met with many retirees and pre-retirees who have the majority of their retirement nest egg invested in the stock markets, the egg is at risk of “boiling,” but they do not pull it out of the water.
Why don’t more people “jump” out of the stock market to safety? Individuals approaching retirement may be hesitant to make a change for the following reasons:
- Lack of knowledge of their options
- Fear of change
- Loyalty to current financial professional
That said, here are three alternatives to consider:
- Information is indeed available, and we are here to provide it.
- If you need assistance in making the “mental shift” from accumulation to preservation and distribution of your assets, we can help you through this transition.
- While loyalty is admirable, you have to do what’s best for you at this critical financial time in your life.