Ep 81: The Things You Can Control (And The Things You Can’t)

There’s a whole lot of life we can’t control, but let’s focus instead on what you can control. Regardless of what the future may bring, you still can take control and strategize as best as possible now.

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Thing’s You’ll Learn Along Today’s Journey

There are a lot of things that are quite simply out of our hands. Instead of sitting and stressing, we look at four financial situations that could change down the line and discuss what can be done about it. Focusing on what you can control may set your mind at ease and prepare you for whatever you may face down the road.

While you can’t control the market, you can control how much you’re exposing yourself to it. Sean says if you want to be in the market, invest in an S&P fund and follow the indexes. The things you can control when you plan are your volatility levels. You want to understand where your volatility currently lies and if you are comfortable with that for your plan. Having a consistent strategy is key.

No one can control how long they’re going to live, but you can control the emphasis you’ll put on creating the income streams that you’ll need. Do you have a plan that accounts for the income you’ll need throughout your life? Plan as if you’re going to live until 90. Not only are you planning for yourself, but for the loved ones, you’ll leave behind.

You know that you’ll always have taxes, but you can’t control how much they will be. Be tax efficient now so you are more prepared for the future (when they are likely to go up). Be thoughtful in the decisions you make though and don’t just jump into a strategy without knowing why you’re doing it.

Social Security is often talked about, but we can’t control what happens to it in the future. You can however control what kind of role it will play in your retirement. Consider your strategy and how you can best leverage your money. There’s a lot that may change in the future, which can cause problems if you don’t have a solid strategy in place. Does your financial plan meet your needs and allow for the right strategic plan?

Listen to the entire episode or skip ahead using the timestamps below.

[1:19] Can’t control the market.

[4:49] Can’t control how long you’re going to live.

[6:40] Taxes are inevitable.

[8:47] Is Social Security a part of your future?

Looking Back From The Mountaintop

“Use Social Security as a strategic tool, leverage the government’s money so you don’t have to leverage as much as yours.”

-Sean Lee

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Ep 94: Don’t Screw It Up

When it comes to your investments and your financial plan, the last thing you want to do is mess it up. We talk through a few ways this can happen and how to avoid them.

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MEET YOUR HOST...

For over a decade, Sean Lee has helped families reach and maintain their financial goals. As a trusted advisor, he coaches and assists his clients with their financial goals by focusing on the fundamentals and takes a practical and personal approach when working with them.

As a trusted professional in Utah, Sean has been featured in The Wall Street Journal’s Market Watch, The Deseret News, The Salt Lake Tribune and USA Today. He has also been featured as a local financial advisor on Utah’s NBC station, KSL 5.

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slee@erg-slc.com

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