It’s always better to learn from the mistakes of others so you don’t have to make them yourself. In this episode, we talk through some common financial mistakes people make and share what you can do to avoid them. Remember, thinking through these situations now can help you steer clear of costly problems down the line!
From overspending in your working years to retiring too soon, it helps to work with a financial advisor to make the necessary adjustments now and save yourself from these major mistakes. It’s important to have a financial plan in place that encompasses the present and the future, balancing the needs of both time periods in your life. Listen in to see what else you can learn from this week’s discussion.
Here’s what we discuss in this episode:
- Taking an early IRA withdrawal.
- Spending too much money in peak earning years.
- Paid kids’ tuition and ruining the retirement fund.
- Retiring early proves to be too costly.
- Forgetting to investigate opportunities for tax efficiencies.