Once you've attained enough to meet your investment goals, take a step back. This may entail leaving some money on the table, and this is where the winners distinguish themselves from the losers. (Photo: Shutterstock)
Life is a series of negotiations. A gamble, in a sense. It's a never-ending sequence of persuasive exercises, constantly trying to get someone to concede. And while that concession may get you hired, you're taking a chance that industry, that company, that market, will be around throughout your career to sustain your retirement. That's the gamble.
Investing is a continuous negotiation. Each trade has you searching for a willing counterpart who will accept your desired price. As before, you are taking a chance – a risk – with each transaction. But you're not gambling.
As a fiduciary, you'll find yourself having to manage life's risks, and it remains a challenge to insure you're not gambling (see “A Fiduciary Approach to Alternative Investments: Friend or Fad?” FiduciaryNews.com, June 18, 2019).
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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).
