Dan Egan

speaker

94 appearances 2 recordings 1 series first heard Nov 2018 last heard Oct 2020

Dan Egan’s voice in public audio — every appearance, attributed to the second.

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Their incomes have gone up slower.

And as a result, they are just starting to save in a low interest rate environment for retirement today.

Banks take our money and try to make more money using it, and that's the same thing that we do.

There's part of it that financial crises are unavoidable.

If everything was risk-free, we'd just put a lot more risk on the table and continue to do the same thing over and over again.

And I think also we always get stuck looking at the last battle.

We're prepared for World War I when World War II comes along.

The next financial crisis will not be like the last one.

So it will happen.

And what we all need to be able to do is be ready to take that hit.

We need to be prepared to have a margin of safety in our finances.

Usually means having a safety net where you can withstand three to six months of unemployment.

where you're not going to have to take your retirement savings out before you're retired.

Having that buffer, that margin of safety, really allows you to invest better and to stay the course despite financial crises.

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