Your instincts might tell you that you’d do better in the second scenario, with steady gains, but you’d be wrong. You can actually make higher return… - Tony Robbins

LESSER OF TWO EVILS When I sat down to interview many of the top academic minds in the field of retirement research, I was surprised to learn that they were all in favor of target-date funds.

First, figure out when you and your spouse will be laid off or be too sick to work. Second, figure out when you will die. Third, understand that you need to save 7% of every dollar you earn. (Didn’t start doing that when you were 25, and you are 55 now? Just save 30% of every dollar.) Fourth, earn at least 3% above inflation on your investments, every year. (Easy. Just find the best funds for the lowest price and have them optimally allocated.) Fifth, do not withdraw any funds when you lose your job, have a health problem, get divorced, buy a house, or send a kid to college. Sixth, time your retirement account withdrawals so the last cent is spent the day you die.

Para controlar conscientemente nuestras vidas, tenemos que evaluar y mejorar conscientemente nuestro vocabulario, para asegurarnos que nos empuje en la dirección que deseamos en lugar de aquella que queremos evitar.