The Age of Experience: Always Improving


It’s not just fine wines that get better with age. We also are always improving — growing more confident over time, having met challenges and overcome them. Our decision-making gets easier. We develop coping mechanisms to handle stress. And we grow wiser. Our knowledge and experience accumulate as a strong foundation we continue to build upon. It takes time to build that foundation of knowledge, and learning never ends.


One area where a solid foundation of knowledge is essential is managing our finances. Sometimes that knowledge is gained through mistakes. However, one of the perks of growing older is realizing that you don’t know everything — unlike your 26-year-old self — and that it’s OK to seek help. That’s where we come in. If you’re thinking about your retirement income strategy — perhaps with an eye toward greater financial confidence in retirement — please give us a call. We’re happy to review insurance options appropriate for your goals and circumstances.


It’s also worth considering that we can continue to work on our health throughout our lifetimes, as well. Some people will encounter issues that slow them down, and there’s not a lot they can do about it. But for many of us, we have some control over how well we take care of our health, and we shouldn’t take that for granted. After all, good health — characterized by regular exercise, a nutritious diet and preventive medical care — can have a positive impact on our finances, by helping us save on health care costs.


What we consider “older” and “younger” is all relative, as evidenced by men’s professional tennis. While dozens of teens and 20-somethings continue to climb the ranks each year, it is the “old-timers” — with their match experience and mature presence of mind — who dominate the top spots:3 Roger Federer (age 38) at No. 3, Novak Djokovic (age 32) at No. 2 and Rafael Nadal (age 33) at No. 1, reign for 2019.


If 38 seems too young to be considered an “old-timer,” how about 110? A recent study of the DNA of “supercentenarians” (people age 110 and older) found that these individuals tend to have a different variety of white blood T cells that attack viruses and cancer cells. Apparently, sometimes we don’t find out what our “superpower” is until later in life.


And despite the early business successes of younger startup superstars like Mark Zuckerberg and other “dot-com millionaires,” the average age of successful entrepreneurs in the United States is in their 40s. Researchers say this is because benefits accumulate with age. By benefits, they are referring to business networks (e.g., partners, potential employees, suppliers), financial resources (e.g., personal wealth, excellent credit score, potential investors) and experience gained over a career.


This material is for general information and education purposes only.  Information is based on data gathered from what we believe are reliable sources.  It is not guaranteed as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions.  It should also not be construed as advice meeting the particular investment needs of nay investor.