It’s a classic line. The thug sneaks up behind his victim, gently presses a blunt object against the back of his target, and whispers those immortal words, “Your money or your life.”
Think about that phrase for a moment. It succinctly presents the omnipresent dichotomy we all face. “Shall I save a few pennies here at the cost of some inconvenience there?” – or – “Should a pay a little more today for a more pleasant experience tomorrow?”
One of the last items on the “7 Point Pre-Retirement Checklist” (see “The #1 Retirement Saving Goal for People in Their 60s and the Most Useful Strategy to Get There,” FiduciaryNews.com, May 31, 2017) states “Remember, there’s more to retirement (and life) than money.” Too often those in the financial services industry forget this. It’s understandable. One’s fiduciary duty generally revolves around money, either the safekeeping of it, the management of it, or the transfer of it. Each of those duties entails significant professional risk. No one expects clairvoyant perfection, but if you make a careless mistake with someone else’s money, your personal liability for that action soars.
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Christopher Carosa
Chris Carosa has been writing a weekly article and monthly column for BenefitsPRO online and BenefitsPRO Magazine since 2011 and is a nationally recognized award-winning writer, researcher and speaker. He’s written seven books, including From Cradle to Retire: The Child IRA; Hey! What’s My Number? – How to Increase the Odds You Will Retire in Comfort; A Pizza The Action: Everything I Ever Learned About Business I Learned By Working in a Pizza Stand at the Erie County Fair; and the widely acclaimed 401(k) Fiduciary Solutions. Carosa is also Chief Contributing Editor of the authoritative trade journal FiduciaryNews.com and publisher of the Mendon-Honeoye Falls-Lima Sentinel, a weekly community newspaper he founded in 1989. Currently serving as President of the National Society of Newspaper Columnists and with more than 1,000 articles published in various publications, he appears regularly in the national media. A “parallel” entrepreneur, he actively runs a handful of businesses, including a small boutique investment adviser, providing hands-on experience for his writing. A trained astrophysicist, he also holds an MBA and has been designated a Certified Trust and Financial Advisor. Share your thoughts and story ideas with him through Facebook (https://www.facebook.com/christophercarosa/)and Twitter (https://twitter.com/ChrisCarosa).
