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How Much Money Do You Need to Ensure a Happy Retirement? – Presented by Mark K. Lund, Financial Advisor in Utah

Financial Advisor Utah

One of the most misunderstood logical fallacies is known as “begging the question.” The term is almost always used incorrectly, even by educated people, who assume it means “which raises the question.”

According to Cornell Law School, “Begging the question is a logical fallacy in which an argument’s premises assume the truth of the conclusion.”1

For an example, look at the headline of this article: “How much money do you need to ensure a happy retirement?” This question takes for granted the huge assumption that there is an amount of money guaranteed to make you happy in your post-work years. Having enough money is important, but there’s no magic total that will automatically bring happiness.

Steven Vernon, a Forbes contributor and author of Don’t Go Broke in Retirement, is a former actuary. He’s spent decades helping companies distill the risks associated with human behavior down to dollars and cents.

Vernon’s biggest piece of advice, as you might guess from the title of his book, is don’t run out of money. But as he explores the topic of planning for an enjoyable retirement, he finds that people must look beyond mere finances.2

For starters, “happiness” is difficult to aim for.

“It turns out that happiness can be a complex goal,” writes Vernon. In fact, it’s not really the best word to describe a satisfying life. Psychologist Martin Seligman prefers words like “wellbeing” and “flourishing.” He suggests that these concepts have five dimensions: positive emotions (such as pleasure), engagement, relationships, meaning, and accomplishment.

Vernon notes that much of the advertising around retirement focuses solely on the first dimension. “They often depict a smiling couple walking hand in hand on the beach at sunset,” he writes. “They focus only on the ‘vacation’ part of retirement.”

While retirement should include pleasurable experiences, living as if you’re on a 30-year vacation soon can lead to dissatisfaction. It’s an expectation that’s impossible to sustain. Long-term wellbeing depends on having a fully rounded life.

Vernon points out that one area that can have a big impact on how much you enjoy retirement is your relationship with your family. He writes, “It’s been said that parents are often as happy as their unhappiest child. As a preventative measure, you might want to consider how you can be of service to help your extended family thrive.”

What’s necessary for this isn’t often your money, but your time. And being involved with your extended family also helps satisfy the positive goals of engagement and relationships.

That’s why working with a trusted advisor makes so much sense. They can help you avoid potential pitfalls and free up your time to do the most meaningful things in your life instead of worrying about money.

Having the financial resources to meet your needs is important for a successful retirement. But money by itself won’t make life fulfilling. Remember to consider meeting with a financial advisor to help plan for the other key components you will need to thrive during your golden years.

If you ever have any questions about your investments or retirement plans, please feel free to give me a call at 801-545-0696.

Mark Lund
Stonecreek Wealth Advisors, Inc., A Financial Advisor in Utah
11576 S State Street, Bldg. 1002
Draper, UT 84020


This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. All economic and performance data is historical and not indicative of future results. Market indices discussed are unmanaged. Investors cannot invest in unmanaged indices. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This material was prepared by Efficient Advisors, LLC (“EA’) for Mark Lund, Mark is a Financial Advisor in Utah. He is known as a Wealth Advisor, The 401k Advisor, Investor Coach, Financial Planner, Investment Advisor and author of The Effective Investor. Mark offers investment advisory services through Stonecreek Wealth Advisors, Inc. a fiduciary, independent, fee-only, Registered Investment Advisor firm providing investment management and retirement planning for individuals and 401k consulting for small businesses. Mark’s newsletter is called The Effective Investor Newsletter. Cities served in Utah are: Salt Lake City, Salt Lake County, Utah County, Park City, Murray City, West Jordan City, Sandy City, Draper City, South Jordan City, Provo City, Orem City, Lehi City, Highland City, Alpine City, American Fork City. The views expressed herein are exclusively those of Efficient Advisors, LLC (‘EA’), and are not meant as investment advice and are subject to change. All charts and graphs are presented for informational and analytical purposes only. No chart or graph is intended to be used as a guide to investing. EA portfolios may contain specific securities that have been mentioned herein. EA makes no claim as to the suitability of these securities. Past performance is not a guarantee of future performance. Information contained herein is derived from sources we believe to be reliable, however, we do not represent that this information is complete or accurate and it should not be relied upon as such. All opinions expressed herein are subject to change without notice. This information is prepared for general information only. It does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this report. You should seek financial advice regarding the appropriateness of investing in any security or investment strategy discussed or recommended in this report and should understand that statements regarding future prospects may not be realized. You should note that security values may fluctuate and that each security’s price or value may rise or fall. Accordingly, investors may receive back less than originally invested. Investing in any security involves certain systematic risks including, but not limited to, market risk, interest-rate risk, inflation risk, and event risk. These risks are in addition to any unsystematic risks associated with particular investment styles or strategies.

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