September 29, 2021 - Published by IAG Wealth Partners

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various clock clocks time

Some people thrive on drama and adrenaline. Others prefer confidence and serenity.

On Sunday night, the Packers waited until the last three seconds of the game to determine whether their game-long efforts would result in success or failure. With a 17-0 lead at one point in the first half, they certainly had their opportunities on offense, defense, and special teams to win convincingly and confidently.

In a professional football game, a team has a defined 60 minutes in regulation to score as many points as they can while limiting their opponents’ score. There is a sense of urgency given the time limitations. Some would go so far as to say the Packers have never lost a game, they simply ran out of time.

Saving for retirement is entirely different. You start your first real job out of high school or college and you have forty to forty-five years until retirement. You have other priorities in life that consume your energy and resources. Retirement can wait. You have plenty of time.

A few years later you discover the cash flow ramifications of a family and a home. Perhaps you feel the need to accumulate other things. Retirement can wait. You have plenty of time.

Eventually your family gets older and more expensive. Your expenses surge as your kids eat more, play more, and drive more. Then college sticker shock occurs. Retirement can wait. You have plenty of time.

Finally, the kids are out of college and living without your financial subsidies, and retirement can’t wait. You have limited time. The race is on to see if you can save enough in your remaining working years to support your lifestyle for thirty plus years after retirement.

There is a better strategy. You know there is based on your experience. However, very few people starting out in their first job have the discipline to set aside 5-10% of what they make for retirement. They forego employer matching contributions and occasionally raid their retirement accounts for other expenses.

The power of compounding gradually builds confidence and serenity over time. The math is simple – the more you save earlier in life and the more matching contributions you accept, the less you will need to save later in life.

Math is certainly more boring than last-minute theatrics. Thus, there is no National Financial Planning League. If you prefer boring, let us help your family create a financial plan that strives to help you meet your financial goals in the coming years.


Quote of the week: Morgan Housel: “Growth is driven by compounding, which always takes time. Destruction is driven by single points of failure, which can happen in seconds, and loss of confidence, which can happen in an instant.”


Securities offered through LPL Financial. Member FINRA/SIPC. Investment advice offered through IAG Wealth Partners, LLC, (IAG) a registered investment advisor and separate entity from LPL Financial.

Any opinions are those of IAG and not necessarily those of LPL Financial. Expressions of opinion are as of this date and are subject to change without notice. This information is not intended as a solicitation or an offer to buy or sell any security referred to herein. No strategy assures success or protects against loss. Investing involves risk including loss of principal.

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