From Kiplinger · · 1m 30s
Houston, We Have a Strategy
Define your retirement mission before buying tools.
In brief
Define your retirement mission before buying tools. Retirement planning starts with defining your lifestyle and legacy goals before selecting investments or products. Originally reported by Kiplinger.
Apollo's moon mission
By spring 1961, NASA launched rockets with Alan Shepard completing a 15-minute space flight.
Kennedy's moon challenge
President John F. Kennedy committed the nation to landing a man on the moon and returning him safely to Earth.
Retirement planning analogy
Retirement planning is like NASA's mission: define your goals before buying tools or products.
The mission comes first
Your retirement mission statement defines lifestyle, income needs, and legacy goals before engineering strategies.
Mission expectations
Retirees choose between flexibility with a wilder ride, predictability with less thrill, or a happy middle built just for them.
Engineering strategies
Tax strategy and withdrawal sequencing coordinate income, taxes, healthcare, and legacy to serve the mission.
Apollo 11's landing
During Apollo 11's moon landing, computer alarms flashed when the landing zone had massive boulders.
The crew's response
Neil Armstrong flew past boulders to smoother ground, demonstrating preparedness over risky prediction.
Equipment selection
The Saturn V rocket, lunar module, and heat shield were each chosen for specific mission roles, not vendor pitches.
Retirement equipment
Diversify investments by strategy, not ambiguity or hope that growth solves everything.
Run your retirement
Plan your mission first, then strategies, then investments to ensure the right tools select themselves.
The essence
Retirement planning starts with defining your lifestyle and legacy goals before selecting investments or products.
