Jun 15, 2023
In the complex world of retirement planning, there are countless pitfalls one could fall into. In this episode, we've distilled it down to what we believe are the top 5 mistakes to watch out for. Avoiding these crucial missteps can have a significant impact on the success of your retirement plan. Join us as we delve into these key issues and learn how to navigate them effectively when it's your turn to plan for retirement.
We’ll talk about the detrimental impact of letting your emotions dictate your financial decisions, the risk of taking investment advice from non-professionals, and discuss why it’s so crucial to account for inflation in your plan. We’ll also shed light on the significance of healthcare and long-term care costs in retirement and share why open communication about finances between spouses and families is so important. To wrap up this episode, we’ll chat about the importance of saving early and consistently.
Don't miss this insightful conversation that offers valuable insights and tips for navigating retirement planning successfully!
Here’s some of what you’ll learn in this episode:
- Focusing on returns + letting emotions take over during market downturns. (1:39)
- Taking advice from family and friends on how to invest instead of a financial professional. (4:33)
- Not adjusting your retirement budget for inflation. (6:30)
- Ignoring healthcare and long-term care expenses in retirement. (8:38)
- Communication about money between spouses and families is key. (11:23)
- Procrastinating saving for retirement. (13:25)
Contact:
Website: http://bradshawfp.com
Email: office@bradshawfp.com
Call: 704-216-2260