Ep #7: Strategy in Chess is Much Like Retirement
Today’s Debate:
Much like chess, retirement planning utilizes multiple strategies to reach an end goal. Think about the way you use each piece and consider how that would compare to your different investments. On today’s episode, we’ll tell you what we think each piece represents in your portfolio.Click play to listen to the episode...
Key Takeaways From This Episode:
Chess is considered to be one of the greatest games of strategy ever created. It takes thoughtfulness, planning, and execution to navigate the board and defeat an opponent. Believe it or not, retirement planning is much like a game of chess. With each chess piece representing an investment in your portfolio, every one plays a different role in the overall strategy of your plan. Some are needed for conservative growth while others are more aggressive. Ultimately, though, you have to protect your King to keep you game going. We posed the topic to Chris Scalese in this episode of the Financial Forum Podcast and asked him to tell us which investments compare to each piece. We won’t spoil everything you’ll hear in this episode, but plan on learning more about some of the key investments you’ll need in your portfolio and what role they play. Take a look at the full rundown for this episode and click the timestamp to skip ahead to a specific topic. [1:25] – Introducing why retirement chess is our topic this week. [2:12] – The Pawn: those monthly contributions you’re adding to your retirement account. [4:49] – The Knight: your conservative investments. [7:36] – The Queen: your high-risk money. [10:05] – The King: retirement income.A Potent Quotable:
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