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Building Wealth vs. Keeping Wealth
Manage episode 447607605 series 3428540
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It's a fact that many people are not aware of: your wealth accumulation strategy should be vastly different from your wealth distribution strategy. In fact, they require very nearly opposite skills.
Building your nest egg requires you to use the market volatility to your advantage, using various means like dollar cost averaging and buying through the many market downturns. But keeping your nest egg means avoiding that volatility over the short term so that your cash flow in retirement isn't interrupted by those same market downturns.
How are those two disciplines different? Learn more from podcast host Johnny Dean as he speaks with his guest, "Professor" Rick Plum, CFP® on today's episode of Managing Your Financial Future.
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