Sometimes a commercial catches my eye as one that really delivers on the message it’s trying to get across.
One group that I’ve seen lately is the Fidelity ‘green line’ commercials, where there is a ‘green line’ guiding someone down the path to their financial goals, and of course that green line is the input and help that Fidelity offers. They seem to be focusing on the ‘end of the green line’ leading towards retirement.
I don’t know why but the commercials work for me. I don’t use Fidelity for anything and have no immediate plans to use the type of services that they’re offering, but I can see how they would be appealing to those who would.
It made me think. I wonder if they offer, not only the best way to save and get to the goal of retirement (though I won’t be able to retire by 40 *sigh* but one can dream), but how to make the transition once you get there.
Since I’ve started working, I’ve been focused on saving. The goal is to build wealth, save money, and work so that you can accomplish big things along the way but also eventually have a retirement.
That seems like it would be a very big switch. You have been tooling along for decades trying to save and save, and now suddenly your goal is no longer to save, but to spend.
You actually expect your net worth and savings/investment accounts to start going down in value.
That alone seems like a very scary prospect to change that mindset, but it’s all part of a personal finance plan that should be in place if you’re ready to retire.
I wonder, do these firms offer any guidance on the psychological, as well as the financial, aspects that go along with retirement? If you’re retired, how did you make this switch? If you’ve got retirement on the horizon, how do you prepare for this?