Why Investing for Retirement Does Not Work – Jerry Fetta
I have studied finances since I was 18 years old. My entire adult life I have spent 40-60 hours per week on average learning about money, coaching clients who want to build wealth, and observe the financial data that exists. When we observe any data, the correctness of the data comes down to 4 major points:
- Have we reviewed ALL the data? Data can only be right or wrong in comparison to other data. And within this law of comparison, there is no absolutely correct data and there is no absolutely incorrect data. Data can only be more correct or less correct that another pool of data. This being said, before we can decide what works best we must have actually looked at everything available to us. What does this mean? “Dave Ramsey says…”, “we saw it on the Suze Orman show…”, or “my financial advisor told me…” automatically means we have not done our research. This would mean that we have invalidated our own knowledge and ability to learn to the point that we would prefer to blindly trust someone else who is simply just sharing their subjective opinion on a subject. Your opinion matters more than theirs. Make sure you’ve seen all of the data available for yourself.
- Who is winning? You’re probably thinking that it would be a lot of work to just get on Google and research everything under the sun about money, right? I 100% agree with you and would even add that finding all of your data on Google many times can lead to false data because anyone with an opinion can write about it and make it look credible. Go find those who are winning at the things you desire. Study them objectively. Don’t read between the lines just observe and form your understands on what you can plainly see. You don’t have to agree with them and you don’t even have to do what they’re doing. Just find the ones who are winning and study them to find out what they do. This is where you get your data. Once you’ve observed and gathered data you can then begin to discern which is most right.
- What information does that greatest amount of good in the greatest number of areas? Once you’ve observed, you will have some work to do. I’m going to make it easy for you though. Take each single datum you’ve observed an analyze it against the other single pieces of datum. Use the law of cause and effect in your analysis. Which piece of datum most effectively produces the effect you intend to cause. What is truer? What is less true? What is more workable? What is less workable? The bottom line is that data is only as good as it WORKS. Does it work? Does it work better than the other options. Do this until you understand fully and have a high level of certainty.
- Put your understanding into practice. Once you’ve come to an understanding of what works best you have a decision to make. That decision is to never be an amateur in the field of money. Yes, you may be new but that doesn’t mean you have to be an amateur. Yes, you may have made past mistakes but that doesn’t mean you have to be an amateur. Decide to be a professional, practice using your data like a professional, and you will have the life of a person who is a professional with their money. The fact is that you’re done dabbling with money advice and financial plans. Commit to becoming an expert.
Before I wrap up, I’m going to address the elephant in the room, which is that I haven’t justified the title of my article “Pay off your debt, save for a rainy day, and invest for retirement…doesn’t work”. I will do that for you now using the 4 steps we’ve laid out together. We are going to reverse engineer the steps the find the understand of why these outdated financial opinions do not work. Put your understanding into practice: those who really have committed to practicing these tenets do not have what you want. Do you really want to work until age 65? Do you really want to further invest into paying off liabilities that depreciate your money? Do you really want to accumulate piles of devalued paper that we call cash to attract emergency situations in life? Do you really want to accumulate an even bigger pile of devalued cash until you’re 65, entrusted to the Wall Street Casino, and then hope you die sooner than you run out of money? I don’t think so. I think you’ve been fed a lie and you’re just realizing it. What information does the greatest amount of good for the greatest number of areas: how many people do you know that follow traditional financial advice? Almost everyone right? People try to pay debt off, people try to keep a little money in the bank, people make sure to get their 401k match at work. How many of them could quit their job tomorrow and travel the world with their kids? How many of them could write a $300,000 check to cover the treatments for a sick family member? How many of them would even survive 6 weeks if they lost their job? Based on the condition of the people using traditional information, it is apparent that this information does not work. Who is winning: I will keep this short and sweet. Your friends, family, co-works, and maybe even yourself tend to demonize those who are winning with money. And you justify it with phrases like “money won’t make you happy” and “money is the root of all evil”. Because of this, most people have never looked up to study who is winning because they’re too busy looking down on those very people to make sense of their poor financial state. Have we reviewed all of the data: No. Money isn’t even talked about, let alone studied. You were taught two things growing up. Don’t talk about your money and don’t talk to strangers. It turns out you need to talk about money to get money and the people who can give it to you are strangers. Money is not taboo. It is the literal cause of everything material that is around you. Not talking about it is like that family who has 15 kids treating sex like a taboo subject when they are apparently experts in the field.
If you’re ready to strip yourself of all the false data you’ve been exposed to about money, I am here to help. In our first two meetings, I can lower your life insurance, health insurance, and investment costs by 73%, guarantee an increase in your savings rate, and secure an 8-10% fixed annual return on your investments. Why? Because I have information that is more correct than what you’re operating on. Click here to schedule a meeting. Click here if you would just like to study some information that is proven to work. Own Your Potential!
Jerry Fetta is a husband, son of Yahweh, Entrepreneur and owner of 5 privately held businesses. Jerry lives in Alaska with his wife and 2 dogs. His no-nonsense approach to business, finances, and life speaks truth and provides clarity to his clients and followers. His personal mission in life is to empower millions of leaders to own their God-given, ultimate potential.