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Financial Symmetry: Balancing Today with Retirement

When considering retirement, do you wonder what financial opportunities you may be missing? Busy lives take over and years pass without taking advantage. In this retirement podcast, Chad Smith and Mike Eklund unveil financial opportunities, to help you balance enjoying today so you are ready to retire later. By day, they are fiduciary fee-only financial advisors who answer questions about tax savings, investment decisions, and how to save more. If you’ve been putting off your financial to-do list or are just not sure what you’ve been missing, subscribe to the show and learn more at www.financialsymmetry.com. Financial Symmetry is a Raleigh Financial Advisor. Proudly serving clients in the Triangle of North Carolina for over 20 years.
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Now displaying: Page 1
Dec 14, 2020

Motivated by the new book, How I Invest My Money, I (Mike Eklund) wanted to communicate how I manage my own money.  In our recent podcast, we discuss my approach with investments, savings, spending, debt, insurance, and what the money is for (goals).  We also review some of my core beliefs which include:

  • Spend less then you earn
  • Automate savings, investing, and anything else that you can
  • Invest the majority of portfolio in growth assets (stocks)
  • Spend money on experiences, relationships and to save time
  • Insure against big risks (life/disability)
  • Avoid high-cost debt
  • Keep it simple. Complicated is the enemy for most individuals.

Near the end of the podcast, we discuss one of the best investments I’ve ever made.   As a married father of four kids, it is our purchase of a lake cabin where we create many family memories.  This investment return is determined based on actual experiences as they far outweigh any financial return.

Finally, we finish with what the money is for.  Primarily three things:

  • Time to do the things we enjoy (family, friends, and staying active)
  • Freedom (peace of mind that we’re ok)
  • Legacy for kids (help them get started)

I hope you enjoy the podcast!

Outline of This Episode

  • [1:14] What are my belief systems about investing?
  • [4:45] How did my family shape his views about money?
  • [6:22] My views on net worth
  • [10:45] My views on investing
  • [15:03] Have I been scarred by my investment history?
  • [20:50] How much spending is too much?
  • [29:19] How do we manage risk?
  • [32:58] Creating moments is important

Resources & People Mentioned

Connect With Chad and Mike

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