Three Sensible Retirement Planning Tips to Fight Off FOMO

Don't let hot stock trends and fear of missing out derail your financial plan. Succumbing to emotion could put your retirement lifestyle at risk.

A couple balance on the frame of a pier over the water.
(Image credit: Getty Images)

In the realm of personal finance, sensible retirement planning and the fear of missing out (FOMO) often stand at odds with each other. It’s a balancing act between securing a comfortable retirement and succumbing to the allure of quick gains and trendy investments that may harm your long-term plan.

That dichotomy, pitting practicality vs emotion, is particularly manifest today as people are more worried than ever about whether they’ll have enough money to live the retirement lifestyle they desire. Some people who haven’t saved enough may be more prone to take investment risks to make up for lost time. But even people who have been disciplined and built a nice nest egg may be drawn to high-risk, high-reward opportunities that, if successful, can strengthen their retirement funds.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Pete Belcastro, CFP®
Certified Financial Planner, Leonard Advisory Group

Pete Belcastro is a Certified Financial Planner™ who works for Leonard Advisory Group. He has 16 years of experience in investment management and firmly believes in helping people achieve financial peace by knowing they are well-positioned and informed. Belcastro is a proud member of the National Eagle Scout Association and actively contributes as a scout committee member and assistant scoutmaster. He also does volunteer work as a reader with Reading Is Fundamental Pittsburgh.