Here's What We Think

I work with a lot of young professionals and there is a growing number of people in their 20s and 30s who want to retire early. You may have even heard the acronym FIRE before, Financial Independence Retire Early. Fortunately, it’s easier to work towards early retirement when you set out to do so at 20 vs 45 but there are also a lot of important considerations, and it takes some serious planning to pull this off successfully. ✔️

We are living through an extravagant bull market… U.S. Stocks have returned over 600% since March of 2009. And over the last few years especially, it seems like every time you look at your accounts, you’ve made more money! 📈 Despite Covid, it’s been a fun 2 years to pull up your statements! And so it’s natural to get comfortable & to start thinking that the market only trends one way! But, honestly, this type of thinking is dangerous…

Financial procrastination is when you have financial obligations and moves to make, but you put those decisions aside on a continuous basis. For instance – you know you need to balance your checkbook, but you continue waiting until things are going wrong. Or, you may have student loans and need to apply for a deferment but you let the time-lapse and end up in the credit bureau.

Lance Drucker, ChFC® & CLU®, was ranked #55 on Forbes NYC Best-In-State Wealth Advisors in 2021, developed by SHOOK Research. The list, which recognizes advisors from national, regional and independent firms, was released online February 11, 2021. Each year advisors are carefully selected based on an algorithm of qualitative and quantitative criteria.

So I just started reading “The Psychology of Money” by Morgan Housel…

As a HENRY or Pre-retiree, you should understand that having life insurance is part of a responsible financial plan. Most people are not aware that needs keep changing according to their life stage. If you have found a plan that meets your needs and gives you peace of mind, it is important to reevaluate your life insurance needs as they fluctuate during different life stages.

Gideon Drucker, CFP was a guest on the radio station The Voice of New York where he discussed his book How To Avoid HENRY Syndrome: Financial Strategies to Own Your Future. Click to listen to the full interview!