Your life's journey is full of wins and losses, and however lumpy, it is a journey, a movement toward something, which means it is also full of gains. One common trait of successful people is they set goals and, having achieved them, move onto the a new goal, the next thing. Wherever they perceive a gap -- in their knowledge, experience, their financial position, etc. -- they seek to close that gap. Along the way they generate great gains, but their focus remains mostly on the gaps.

It's easy for investors to get caught in this line of thinking too. Matt reminds us that in the journey toward retirement, we often see the gaps in our preparation and fail to appreciate how far we've come.

This episode was inspired by the book The Gap and the Gain: The High Achievers' Guide to Happiness, Confidence, and Success

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Web: https://www.benetaswealth.com

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Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

This material is intended for informational/educational purposes only and should not be construed as investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. Please contact your financial professional for more information specific to your situation.

Investments are subject to risk, including the loss of principal. Some investments are not suitable for all investors, and there is no guarantee that any investing goal will be met. Past performance is no guarantee of future results.

All indices are unmanaged and investors cannot invest directly into an index.

Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date.
Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved.

Exchange-traded funds (ETFs) are subject to market volatility, including
the risks of their underlying investments. They are not individually redeemable from the fund and are bought and sold at the current market price, which may be above or below their net asset value.

Matt tackles a common question from clients: will traditional investing work with AI? AI is changing how businesses operate, with explosive increases in scope and scale over the past couple years. There is enormous hype around AI technologies, with some people comparing it to the advent of the internet or even the invention of electricity. Naturally, many retail investors are wondering how to invest on the precipice of great technological change. Matt separates two important questions here: 1.) what companies will win in the AI race, and 2.) how should long term investors behave to make durable investments for their families and retirement?

The second question is what Matt focuses on today. It's very difficult to determine what companies will "win" over the long-term. The dot com bubble was littered with highly promising companies that are now forgotten, while some of the winners were far from obvious picks at the time. Besides, Matt encourages clients to invest for the long-term, with a diversified portfolio that's designed to help achieve the financial plan no matter what the market does. It shouldn't matter what any individual company does — the plan and it's investments should be durable and flexible enough to capture the broad market performance.

Follow Matt Murphy

Web: https://www.benetaswealth.com

Newsletter: http://eepurl.com/jb7SNc

LinkedIn: https://www.linkedin.com/in/mattmurphycfp

Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

This material is intended for informational/educational purposes only and should not be construed as investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. Please contact your financial professional for more information specific to your situation.

Investments are subject to risk, including the loss of principal. Some investments are not suitable for all investors, and there is no guarantee that any investing goal will be met. Past performance is no guarantee of future results.

All indices are unmanaged and investors cannot invest directly into an index.

Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date.
Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved.

Exchange-traded funds (ETFs) are subject to market volatility, including
the risks of their underlying investments. They are not individually redeemable from the fund and are bought and sold at the current market price, which may be above or below their net asset value.

Simplicity isn't just a nice feature of plans and documents, it carries real value. When things are complex, whether it's your investment allocation (or the investments themselves) or your estate plan documents, it costs you more than just money to maintain and administrate. It also costs brainpower and attention. As you age, your energy for managing these things may decrease. Inevitability, your ability to manage complexity will decrease.

When you setup a financial plan and create new accounts, draft new documents, purchase new insurance policies -- don't just think about whether you can manage those things today, think about how they will accumulate in 10-20 years or more. Keeping things simple over the long term will not only save your sanity in your later years, it will accrue some real financial value!

Follow Matt Murphy

Web: https://www.benetaswealth.com

Newsletter: http://eepurl.com/jb7SNc

LinkedIn: https://www.linkedin.com/in/mattmurphycfp

Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.

This material is intended for informational/educational purposes only and should not be construed as investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. Please contact your financial professional for more information specific to your situation.

Investments are subject to risk, including the loss of principal. Some investments are not suitable for all investors, and there is no guarantee that any investing goal will be met. Past performance is no guarantee of future results.

All indices are unmanaged and investors cannot invest directly into an index.

Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date.
Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved.

Exchange-traded funds (ETFs) are subject to market volatility, including
the risks of their underlying investments. They are not individually redeemable from the fund and are bought and sold at the current market price, which may be above or below their net asset value.