Facebook is Killing your Retirement

fb killing

This is not a Facebook bashing blog, I promise. I love Facebook; I’ve had a Facebook account since I was required to have a college email address to get an account, but it is killing your retirement. I could go into my thoughts about how it allows you to waste time and not reach your full potential, but today I am going to stick to the money side.

Remember that old saying, “Keeping up with the Joneses”? Well, Facebook has affectively created,” Keeping up with everyone that you have ever known in your entire life”. It is a beautiful tool that has allowed me to stay in touch with contacts that I would have long since lost in life. However, it has also taken my envious tendencies and allowed me to see every new car purchase, every new house warming party, every luxury vacation, every child’s birthday party and every college football tailgate that anyone I have ever known has experienced. I literally cannot open the app without at least once saying in my head, “what does that guy do for a living?! I know how much those cars cost”. I heard someone say one time “if it’s not on Facebook, did it really happen?” and I actually think we believe that. I have literally heard of people choosing their vacation destination based on the photos they plan to take and later share on Facebook.

Facebook is not bad, new homes and cars and birthday parties are not bad, college tailgates are not bad (assuming you are tailgating for a Clemson game), but living in this constant state of comparison is literally derailing your retirement plans and probably other aspects of your life as well. Every wonder why those people posting pictures of their new cars don’t post pictures of their 401(k) plans?

Make decisions that represent the fact that you care about more than other people’s possessions and opinions. Don’t get caught in the comparison trap; make smart decisions that benefit your family long term, and stop letting a Facebook post control your wallet.

Caleb Bagwell

 

Caleb Bagwell/Employee Education Specialist
John Maxwell Certified Leadership Coach
Grinkmeyer Leonard Financial
Toll-Free: 866.695.5162 / Office: 205.970.9088 
1950 Stonegate Drive / Suite 275 / Birmingham, AL 35242

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Securities and advisory services offered through Commonwealth Financial Network, Member www.FINRA.org/www.SIPC.org, a Registered Investment Adviser.  This communication strictly intended for individuals residing in the states of AL, FL, GA, KY, LA, MD, MS, OK, PA, SC, TN, TX. No offers may be made or accepted from any resident outside these states due to various state regulations and registration requirements regarding investment products and services.

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