Retirement Tips - seek positive input

Transcript

For the first at least six months of your retirement, seek out positive information. Seek out good news. Follow people who talk about positive things and avoid negative information at all costs. We all know how social media algorithms work. Let's imagine that you've retired and you have a significant amount of your wealth in the stock market. You see a headline or a post that says the market is flashing this famous warning signal of an impending crash. You click it. You read the article or watch the video. The algorithm says, oh, they like this kind of information. Let's give them more. And pretty soon you're going down the doom spiral. You're just reading article after article, post after post about how the market is facing an imminent doom. And it will really mess you up. What I recommend is don't follow that stuff. Don't click it. We all know. The market websites, the news, they feed on fear. No one's posting articles about good news because they don't stimulate clicks like bad news does. So just don't chase it down. There's always going to be someone telling you how we're all doomed, especially those of us who are retired and who are in the stock market. So avoid any of that gloom and doom nonsense. Seek out positive information, at least for that first six months. I would say for the first year, it will have an impact on you. Good luck.