Luck Is Not A Financial Plan

Can you plan on being lucky? That question is a bit of an oxymoron. Luck is something that “just happens.” A plan is something that you create and follow to an expected destination. With St. Patrick’s Day celebrated this month, some people start talking about “The luck of the Irish.” You may not know it, but the phrase does not come from the folklore of leprechauns but rather from the late 19th century, during the California gold rush. Many well-known and wealthy miners at the time were Irish and it is thought this is where the reference to Irish luck first appeared.

Counting on being lucky does not constitute a plan for eventual financial stability or the achievement of wealth. However, having a solid financial plan and following it will make some people think you are lucky. When you reach retirement age and can continue to live in the same style you lived in pre-retirement, you will also feel pretty fortunate. But luck has nothing to do with the achievement of this kind of lifestyle. Solid planning that helps you navigate the ups and downs that life throws your way is what ultimately leads people to that place of comfort and confidence that they will outlive their money and be able to leave a legacy for their loved ones.

So, what’s your plan? Are you feeling lucky or are you ready to create a plan that will help your family feel confident and comfortable? If you are ready to create a plan to reach retirement with a wealth plan, give my office a call. We’ve been making our clients look lucky and feel fortunate for over 40 years.