Creating A Nest Egg So You Can Retire (Encore)
About this episode
John and Kelly discuss the importance of creating a nest egg for retirement and share their personal experiences with saving and investing.
In this episode of The Missing Secret Podcast , John and Kelly discuss the concept of creating a nest egg so you can retire. In discussing this, Kelly notes that she was a saver from a young age. Literally putting aside 20% a year. She was taught this by her dad who made her read the classic book Richest Man in Babylon. It truly is a fabulous book that really explains the concept of saving and compounding interest. John points out that he wasn’t that enlightened when he was younger. He didn’t really save in his 30s and 40s because he thought he would hit it big at some point in his entrepreneurial career. Fortunately he did. But it wasn’t a good strategy not to be embracing savings from a young age. John talks about how when he sold his company he got a large amount of money. And his idea was he just had to get about 5% return on the money in order to pay all his living expenses. But he discovered something he wish he had been alerted to at a younger age. Investment planners and money managers always tell people to diversify as opposed to investing their money in the S&P 500. With the idea of avoiding that 30% drop in the market that happens about every 10 years. But John…
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