Q&A Edition: Where to Start with Retirement Planning, Ep #36

<p>What can Warren Buffett teach us about the volatility of the stock market? Where do you get started with retirement planning? Should you bring in a professional to help you? In this episode of Retirement Made Easy, I answer some listener questions and share a story that drives home the point of long-term investing. Don’t miss it!</p> <h2>You will want to hear this episode if you are interested in...</h2> <ul> <li>[1:32] What we can learn from Warren Buffett</li> <li>[8:52] Answering Julie’s Question: Professional financial help</li> <li>[14:18] Make sure you’re in-tune with your family’s finances</li> <li>[15:59] Answering Ed’s question: Where do you start?</li> </ul> <h2>What we can learn from Warren Buffett</h2> <p>When asked about volatility and fluctuation in the stock market, Warren Buffett said that whenever you price stocks so frequently (and it is liquid) they may be way overpriced or way underpriced at any given moment. </p> <p>He said to imagine you and your spouse picked out the perfect 80-acre farm. It has a beautiful house, income from crops, a beautiful view, etc. You paid $3,000 an acre for your farm. Your next-door neighbor owns an identical 80 acres. Every day, your neighbor comes over and offers to buy your farm. Some days he offers $2,600 an acre. Other days he offers $2,700 or $3,300 an acre. </p> <p><em>It’s the same thing with the stock market.</em> The price you see is the price that someone is willing to pay that particular day at that particular moment. But it doesn’t matter what is being offered if your stock isn’t for sale. Warren Buffett is one of the richest people in the US and is well-known as a long-term investor. When you’re holding something long-term, it doesn’t always matter what the price fluctuation is from one day to the next. </p> <h2>Answering Julie’s Question: Should you hire a professional?</h2> <p>Julie said she and her spouse are planning their retirement and are overwhelmed with the transition. She feels stuck and lacks confidence. She feels she needs professional