Five Lessons From Bob Marley About A Successful Retirement

The other day I was thinking about retirement – as I often do in my line of business – when one of my favorite songs came on the radio. It was the classic song, “Three Little Birds,” by the great Jamaican reggae singer, Bob Marley. You know it:

Rise up this mornin’,
Smiled with the risin’ sun,
Three little birds
Pitch by my doorstep
Singin’ sweet songs
Of melodies pure and true,
Sayin’, “This is my message to you-ou-ou”

Great song. It got me thinking about a few things we could all learn about retirement planning from Bob Marley’s songs. Here are a few I came up with:

1. Don’t worry about a thing. (Three Little Birds)

I’m not telling you to have a carefree, whatever-may-come attitude about your future. Of course, there are important decisions you need to make to secure your retirement, such as estimating your monthly incomes needs and so on. But, the way I see it, that kind of planning is exactly what keeps you free from worry. So don’t worry about the future. Plan for it now.

2. Don’t let them fool ya, Or even try to school ya! (Could You Be Loved?)

There’s a whole lot of bad investment advice out there. My advice? Ignore the voices out there that are telling you about this hot stock or their prediction about where the market is headed. The fact is, the financial markets are unpredictable, and anyone who tells you different has something to sell. Instead of gambling with your retirement income, you should look into a strategy that provides a guaranteed stream of income. That’s right. I’m talking about annuities. They may not be sexy, but they do give you a lot more peace of mind than the alternatives.

3. Everyday we pay the price with a little sacrifice (Jammin’)

In this instant-gratification world we live in, it’s not always easy to think about giving something up today for a better tomorrow. But, let’s face it. The last thing you want is to outlive your retirement income. As you plan ahead, consider whether you should adjust your income needs downward or, perhaps, even keep working a few extra years so that won’t happen to you.

Be sure to involve your spouse in your retirement planning. Set aside some time to discuss your shared goals and expectations for retirement. And make sure your spouse goes with you to any important meetings with financial advisers. The more consensus you have on the front end, the more harmonious your retirement years can be.

5. When we bend a new corner, I feel like a sweepstake winner. (Satisfy My Soul)

Retirement is a major life event. As you turn the corner into retirement, don’t forget that your perspective can make a tremendous difference. If you keep a positive outlook as you transition from work to retirement, you can live every day feeling like Bob’s sweepstakes winner.

So what about you? Do any of your favorite songs hit home as you think about retirement? Leave a comment and let me know.

About Paxton Farese

Paxton is CEO of The Farese Group, an investment firm specializing in retirement income. Follow me on Google+ and Twitter.