How many of you have seen the Voya Financial commercial where the lady blames her husband for leaving retirement money in her pants she washed? I would venture to say most have since it’s on during football and it’s a funny commercial.
Here is the link to the commercial in case you have not seen it: https://www.youtube.com/watch?v=AtW-opcyImw
The words and phrases used here are ironic and below you will see the conversation. Let’s take a look at what they are saying and why it doesn’t make sense.
Her: “Honey you can’t be so careless.”
Him: “Ohhhh, ok”
Her: “This is our orange money. This is what we are setting aside for retirement. We have to be really careful with this. That’s why we got organized with ING so we can make the most out of what we put away for retirement.
“Careless”, “Really careful” and “Make the most out of what we put away”
Here is the irony, putting your money in the market means you are putting it at risk. Your saving and not knowing how much will be there at retirement or if the market will crash right before you need it. We have already seen this happen in 2008 and I am seeing those people right now as clients who are trying to live on half of what they had saved. NO, they still do not have back what they lost.
Being (unknowingly) careless means putting your money into a system you do not understand. Do you understand where your money is and what it is doing? Do you understand the fees and charges on your account? Do you understand if you take a hit how long that will affect you and what you will have to do to get back to square one?
Really careful means you don’t want to make a mistake and lose money. Are you protected from that very thing in the market? No, you are not.
Then there is the statement, “make the most out of what we put away.” Do you know what the MOST is that you need to make? Has anyone gone over the numbers with you? Is making the most out of your money giving up the use of it until your 59 ½?
How do you make the most really carefully and not be careless at the same time?
The answer is NOT the market, in my humble opinion. Common sense tells me the market is a risk and from what I have seen from my elders I do not want what they have or should I say what they don’t have. What these companies are saying does not match what they are offering.
All of these phrases are the same ones I hear from my clients and why they find the concept I teach a much better fit for them. It IS safe, secure and guaranteed. My clients are careful with their money, not careless and making the most out of their money, all at the same time.
My clients are making the most out of their money by using it to today to buy things and pay off debt and knowing it will also be there for them to use again tax-free at retirement. This is making the most out of your retirement money.
The moral of this story, if those three statements reduce the feeling of anxiety we should be talking and you should be making the most of your money in a guaranteed environment where you don’t pay fees.
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