Are You Sabotaging Your Own Retirement With These Mistakes?

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Today’s Question:

There are so many aspects of our financial life that we can’t control so why would we fail to take care of the things we can? Today we’re going to look at the mistakes people make that hurt their financial health and explain what you can do to avoid them.

 

Confidence Corner

Building a retirement plan takes a lot of time and energy so you want to do whatever you need to protect your portfolio, right? Too many things in our financial lives are out of our control so it’s essential you take care of the parts that you can control.

On today’s episode of The Financial Answer podcast, we’re going to identify the miskates that people end up making in retirement that sabotage everything they’ve worked for. From mistiming Social Security to taking on too much risk, these mistakes happen quite a bit but you can avoid them with the right planning.

Let Nathan O’Bryant help you make the most of your retirement by getting out of your own way. Not only will we list the mistakes but we will talk about why each of these actions are so important to your financial health.

It’s the final episode of 2019 and we are happy you’ve joined us one last time this year.

Listen to the full episode with the audio player above or click on the timestamps below to hear a specific segment.

[0:38] – We’re getting ready for the holidays.  

[2:32] – The market rebounded to over 28,000. What news is impacting the market?

[5:11] – Today we’re talking about self-sabotaging our retirement.  

[6:05] – First thing we do is obsess over the short term ups and downs of the market.

[9:58] – Taking Social Security as early as possible could cost you a lot of money.

[11:41] – We look at Social Security on its own but determine what claim works best for you.

[12:54] – Pretending like long-term care or nursing home care isn’t going to impact you.

[15:41] – We don’t honestly evaluate how much money we need for the lifestyle we want to have in retirement.

[17:10] – The last thing we do is assume we’ll always love our job and nothing will change that.

 

A Point Of Wisdom:

 

Related Content:

PODCAST: What Mistakes Do Bad Investors Make?

PODCAST: The Final Decade Before Retirement

 

Additional Resources:

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