Knowing Where You’re Going in Retirement, with Toby Anderson, SGL Wealth Management
Toby Anderson: The old saying, if you don’t know where you’re going to get there, and everyone’s got goals. Those goals, as with anything–you need to write them down.
And you need to know how you’re going to get there. Everybody has a goal of retiring at some point, but retirement looks different for almost everybody, right? Is that I want to be done at 62, and I’m never going to do anything? “I’m playing golf five days a week.” Great. If that’s what retirement let’s see what that looks like.
Sometimes it’s: “I’m going to retire, but I’m going to get a part time job because I want to.” “I’m never going to retire.” There’s that one. But you’ve got to know where you’re going, and then are you on track to get there, right? Are you saving the amount of money you need to save to have the lifestyle you desire when that day comes?
And it just makes people put everything down on paper. And even from the younger people, just the importance of budgeting—what’s coming in and what’s going out. Every dollar needs to have a purpose, and do you have the guardrails around what you’re doing to make sure your investments are aligned?
You can’t say, Hey, I need to have this amount of money when I’m doing and have your money sitting in cash. It’s just not going to, it’s just not going to work. And people, helping people understand the risks associated with certain levels of stuff and then the risks of not. Some people’s greatest risk is not being risky enough, right? It’s just important.
Listen to Toby’s full ProfitSense with Bill McDermott interview here.
The “One Minute Interview” series is produced by John Ray and the North Fulton studio of Business RadioX® in Alpharetta. You can find the full archive of shows by following this link.
Renasant Bank has humble roots, starting in 1904 as a $100,000 bank in a Lee County, Mississippi, bakery. Since then, Renasant has grown to become one of the Southeast’s strongest financial institutions, with over $13 billion in assets and more than 190 banking, lending, wealth management, and financial services offices in Mississippi, Alabama, Tennessee, Georgia, and Florida. All of Renasant’s success stems from each of their banker’s commitment to investing in their communities as a way of better understanding the people they serve. At Renasant Bank, they understand you because they work and live alongside you every day.
