Simplicity and Meaning: My Approach
As someone who spent most of the past 40 years working in the financial services industry, you might think I consider myself fairly sophisticated when it comes to money and investing. But honestly, what has worked for me over the past forty years is not about being clever with markets or complex investing strategies—it is about keeping things simple.
The first key to my financial journey was automating my savings. Early on, I set up my contributions to a workplace retirement plan to be deducted automatically before I ever had a chance to touch it. It is such a simple idea, yet so powerful. By removing the temptation to spend what I should be saving, I ensured that my future was being taken care of, month by month, paycheck by paycheck.
The second key was my investment philosophy, inspired by John Bogle, the founder of Vanguard. Mr. Bogle believed in capturing market returns through low-cost index funds and passively managed funds - not chasing after top-performing stocks or trying to stay one step ahead of economic cycles. I inherently know I am invested in line with my plan despite the market’s ups and downs.
As I transition into retirement in the years ahead, my focus will shift from saving to spending. I intend to keep that process simple as well. Instead of obsessing over every dollar spent, I’m setting a ballpark spending amount that I am confident can allow my portfolio to sustain me throughout my lifetime while staying true to the same principles that have guided me throughout my investing journey.
This focus on simplicity has given me the freedom to focus on what really matters in my life. Too often, I’ve seen people get caught up in the minutiae of the market—following every twist and turn, agonizing over daily gains and losses. But what is that really about? If we’re being honest, sometimes that obsessive market-watching is just filling a void, a way to occupy time when there’s nothing else more meaningful in life to focus on.
Maybe the first step to ignoring Wall Street is to ask yourself: Do I have something else in my life that brings me joy, fulfillment, or meaning? If you do, you’ll find it much easier to tune out the noise and stop checking your portfolio every day. And if you don’t, perhaps that’s where the real work begins.
Investing should serve your life, not consume it. For me, keeping things simple and automatic has freed me to pursue the things that truly bring meaning—family, community, passions, and experiences. I encourage you to do the same. After all, we only get one life to live, and it’s worth making sure we spend it wisely.
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