When Following Advice May Not Be The Best Idea

Sometimes, it might seem like the odds are stacked against you when it comes to retiring the way you want.

 

Taxes are probably going up.

 

Inflation is out of control (and the cost of healthcare is going up even faster)

 

The markets are like a yo-yo (the emotional roller coaster is real even for the most steady of us).

 

… and it’s all outside of your control, so why bother?

 

Well, today I’m here to tell you that you might want to reconsider throwing in the towel. Here are a few folks whose “Advice” didn’t exactly hold up: 

 

“A cookie store is a bad idea. Besides, the market research reports say America likes crispy cookies, not soft and chewy cookies like you make.” 

– Response to Debbi Fields’ idea of starting Mrs. Fields’ cookies.

 

“Who the hell wants to hear actors talk?” 

– H.M. Warner, co-founder of Warner Bros., 1927.

 

“We don’t like their sound, and guitar music is on the way out.” 

-Decca Records, when they rejected The Beatles, 1962.

 

And, the most recent eater of crow might just be my favorite:

 

“Children just aren’t interested in witches and wizards anymore.” 

– a rejection letter to JK Rowling, author of the best-selling Harry Potter series in 1996

 

Seriously? 

 

Just think about all of this bad advice and the millions lost because they followed that advice.

 

So, what if you’re getting some bad advice that’s unknowingly causing you to make some bad decisions? Could that negatively affect your retirement years?

 

What if you’re getting some advice from those talking heads on the news. Granted it’s FREE advice, but maybe that’s all that it’s worth. It might be worth seeking out qualified advice from people who have some actual experience and not opinions from people who aren’t really in the game.

 

These are certainly challenging times filled with concerns about interest rate hikes, skyrocketing inflation, the potential for more market fluctuations, and the list goes on and on. 

 

Times like these are when it’s important to make sure you have a detailed plan to help you navigate the waters ahead. If you need a quick 15-minute chat to strategize with the right advice, just click the link below!

 

Regards,
Nick