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How to Set Yourself up for Success

AngelaRoberts

Written by Angela Roberts

Aug 5, 2021

As summer winds down and my kids get ready to head back to school, I want to make sure that I’m doing all I can as a parent to set them up for success. Do they have the supplies they need? Do they know their schedules and where to find their classes? I double-check all these things, but as any parent knows, the preparations don’t end there.

We also need to make sure that our kids start getting back into the kinds of healthy habits they need to succeed: going to bed at a reasonable hour, staying on top of chores so they don’t fall behind once homework begins, etc. Healthier habits lead to better outcomes, and that applies just as much to our children’s schoolwork as it does our own retirement and financial future.

Success often comes from being prepared.

In a survey taken by Gallup between April 2 and 11, 2021, 46% of U.S. non-retirees said they will not have enough money for their retirement. That’s up significantly from the 32–36% who responded similarly when Gallup began tracking this measure between 2002 and 2004.

This shift in attitude got me thinking: What has changed in the last 20 years? We’ve certainly seen our fair share of market turmoil, from the Great Recession to the volatility we experienced in 2020. But I still believe that with the right amount of hard work, healthy habits, and proper diversification, many Americans can set themselves up for a comfortable retirement.

And the numbers seem to agree: For those savvy enough to place even a portion of their trust in physical gold, the story has been quite different. Gold has historically seen significant growth over the long run, especially in times of economic turbulence.

Dow-Only Portfolio vs. Gold + Dow Portfolio

 

Dow-Only Portfolio vs. Gold + Dow Portfolio Chart
One of the best healthy habits you can acquire is learning to be prepared. For my kids, that may mean having a sharpened pencil and a clean notebook before heading off to school. For your retirement, it may mean reviewing your current situation to see if diversifying with precious metals is right for your portfolio.

Another healthy habit is making smart decisions. Gold is more than just a safe-haven asset for when the economy gets rough—it’s also a time-tested store of wealth that can see growth during times of turbulence as well as prosperity.

Time and money management go hand in hand when it comes to finding success.

How much time do you spend each month focusing on your finances? How about each week? Do you just pay your bills and credit card balance as needed and ignore the rest, or do you actually keep track of your expenditures?

I’ve talked about the importance of budgeting before, but it’s always worth mentioning. Budgeting your time and budgeting your money are two of the most important skills a person can learn.

My kids know that if they spend too much time watching television and not enough time on chores or homework, they likely won’t do as good of a job on the things that really matter. The same goes for your financial future. Take the time to go over your finances and long-term goals on a regular basis, and your retirement will thank you!

Retirement school is now in session. Time for a pop quiz!

As our kids get ready to head back to school, we want them to be as well-prepared as possible. I want the same thing for you and your retirement. That’s why we at U.S. Money Reserve have developed our own Retirement Quiz, which can help give you an idea of where you’re currently at regarding your retirement savings and portfolio.

Remember: Healthy habits lead to better results. Set yourself up for success, and you can become one of the many Americans preparing to enjoy their golden years in comfort.

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