BY: Lars Forsberg
I just returned from a trip to my new house construction project in Central America. It was a short trip, spent mostly walking around, talking to people, and figuring out how to get things done. It’s surprising how long it takes to figure out how to get things done when you are in unfamiliar territory.
Sometimes it just takes a little guidance from someone who has been down the road you intend to travel.
I met several people who gladly offered their opinions and guidance. These folks were well intentioned and offered a lot of good advice on getting things done and avoiding pitfalls. I plan on leveraging the knowledge that they passed on to me to avoid mistakes and speed the construction process.
With advice from my new neighbors with nice fruit trees, I planted a variety of trees that will take a few years to produce, but should grow well in the local micro climate.
The comparison can be made to the process of planning for retirement. There are plenty of people out there who are well intentioned, and others who are not so well intentioned (crooks). While some information that is given is quality, much of it is less than valuable (junk).
Unfortunately it can be difficult to tell the difference between the good and the bad info.
Question the nature of the source of the information and the motivation of the provider.
Often the large banks will offer free retirement account set up to basically lure potential clients in….only to work them over with maintenance and service fees over time.
Oh, and usually they only allow you to buy the products that they sell with their “Self Directed Retirement Accounts”.
How is it that these accounts are self directed if you have to ask permission to do anything and can only invest in products they sell?
What is the nature of the big banks? $$$
What is the motivation behind their tactics? $$$
Do you trust the crooks at the big financial institutions?
Take advice from good natured people with the right motivation.
Plant trees that will produce over time in the climate that your your retirement nest is located.