I was watching a car auction on the TV the other day. One beautiful car after another went over the auction block, some selling for more than $100,000. The commentators kept on referring to the cars as either a driver or a trailer queen. Now for those of you who are not familiar with classic cars, let me explain. A driver is a vehicle you can use to drive daily. A trailer queen is a car you don’t drive because you’re afraid to use it.
How do you see your retirement? Are you going to use it and enjoy the next phase of your life or be afraid to use it? Is it polished and shiny sitting in the corner? Your nest egg will be safe, but will it be doing anything for you?
Inflation and missed opportunity can have a deteriorating effect on your retirement like a parked car. There’s nothing wrong with CDs, and money market accounts for the money you need for emergencies. In fact, every time I meet with someone, my first and foremost priority is to make sure they have money set aside for emergencies. If they don’t, then I have to respectfully let them know that I can’t work with them until they do, I believe having emergency money on the side. Many of you are treating your retirement money like your emergency money. It’s time to make that money working.
If you have a broker, he’s probably giving you the same message. He’s probably telling you that you need to keep your money active and working for you. Let me be very clear, so you don’t get confused. When a broker tells you to get your money active, he’s most likely telling you to put your money at risk. That’s not what I’m talking about.
What I’m telling you is that you need to get your money participating in contractually guaranteed returns without any market risk. In other words, I want to put your car in drive, but at the same time, keep your car from crashing. Don’t let your retirement get into an accident or rust away sitting in the garage. Let’s work together to put your retirement into action, providing you with guaranteed growth and a lifetime of income.