What's your plan for the FUTURE?

I'm saving for retirement, and a robot body with rocket boosters — how about you?

We're all trying to set aside money, and retirement is likely one of our biggest financial undertakings — but in this post, I'm talking not just about retirement, I’m talking about saving for the FUTURE. You know, when people are cruising around in flying cars, teleportation is totally a thing, and we’ll all have the ability to live forever. The FUTURE is going to be cool, and no one knows exactly what will happen, but I can tell you one thing — it's going to be expensive.

Technology is shaping the new 'normal' so rapidly that it's now almost unimaginable that we used to regularly wait in line at the payphone for a ride home from the mall, or had to get up off the couch to change channels on the TV. These quaint, fuzzy memories are indeed evidence that progress will not only continue, but likely pick up speed. And when we find ourselves in the FUTURE I'm going to want the available funds to participate. With folks like Elon Musk actively making progress towards a sci-fi utopia (self-driving cars, traveling from New York to DC in under half an hour, and colonizing Mars), I've stopped asking, WTF?, and am now asking myself, WIGTC? (what’s it going to cost?).

Which brings me to my FUTURE savings plan

With the way technology is moving, who's to say it's not a matter of time before we can trade in our tired and flawed bodies for shiny, new robot parts that are infinitely strong, rust-proof, and anti-aging with 20/20 vision and a jetpack? It might take a while, but I can imagine that one day we’ll be able to pluck our brains out of our heads and drop them into brand new sets of wheels that feels no pain, and are fueled by a solar sensitive coating. People with extra funds will have the ability to purchase a convertible upgrade that allows you to transform into a mermaid or unicorn — just for the fun of it. We'll all live an extra 100 years, giving us plenty of time to enjoy self-propelled, underwater camping trips and flights into space.

Yes, it's a fantasy now, but when I'm in my 90s contemplating whether to roll my wheelchair towards the light, or purchase a titanium Wonder Woman body – I’ll be glad to have the cash to go either way.

How am I going to make it happen?

I have a long term saving and investment plan that anticipates what I'll need in retirement — and then strives to over shoot it. And though no one knows what will happen tomorrow — let alone 50 years from now — I can use a sophisticated Monte Carlo Simulation to project the likelihood of success for my current holdings and savings rate, in an asset allocation calibrated to my risk tolerance. After running 1000 unique, randomized tests on possible future returns, and achieving more than 800 passes — I'm confident that I'll be on track to support myself to a ripe old age, while also tasting a bit of what technology will eventually have to offer. Does that mean a second act uploaded to the Matrix? Who knows — I just don't want to be left behind.

What’s my secret weapon?

The few dollars here and there that I stashed in a Roth IRA back when I didn’t have much to spare. Those early dollars put into highly-diversified Index Funds have been, by far, my most important investments, since they've had the longest time to compound and grow. And because they’re in a Roth IRA they’ll eventually come back to me tax free.

So what are you saving for?

The future, or the FUTURE? Leave a comment and tell me all about it.
Very best,
p.s. If you want to talk about your long-term savings plan, get an extra pair of eyes on your asset allocation, or just want to check-in on how you're doing right now — shoot me an email, and we can set-up a time to talk.


The foregoing content reflects the opinions of Insight Personal Finance, LLC and is subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that the statements, opinions or forecasts provided herein will prove to be correct.

All investing involves risk, including the potential for loss of principal. There is no guarantee that any investment plan or strategy will be successful.