Saving Money Is NOT the Most Crucial Thing to a Financially Successful Retirement

Saving Money Is NOT the Most Crucial Thing to a Financially Successful Retirement

Don’t get me wrong at all. Working hard and saving as much money as you can toward your

retirement is not an inconsequential step in ensuring that you’ll have a financially comfortable life during your golden years - so by all means, go ahead and sock away as much as you possibly can. And then some more!

However, the fact that a lot of well-meaning retirement investors seem to be missing, in my opinion, is that you must first make sure that your particular investment vehicle of choice isn’t going to bleed your money away.

Of course, who would set out to do that? Invest your hard-earned retirement money in an account that wouldn’t bring you the best possible outcome? That is precisely the reason you must separate the act of saving money from the efficacy of the particular savings vehicle you choose to use for the purpose of growing your contributions.

View your investment account as a container into which you’re storing your nest egg. Before you even begin making contributions into it – as well as on an ongoing basis once you do start contributing – ensure that it doesn’t have any big holes which may come in many forms, including things like unreasonably expensive/unwarranted commissions and fees or inefficient underlying investments.

So here’s the point I’m trying to drive home: You should by all means save money, and do so diligently. But before you write those investment checks, make sure that the “container” into which they are to be stored is intact in mint condition.
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