There are several common mistakes that people make when planning for retirement:
Not starting to save early enough: It is important to start saving for retirement as early as possible, as this allows more time for compound interest to work in your favor.
Not saving enough: Many people do not save enough for retirement, which can lead to financial strain later on. It is important to set aside a sufficient amount of money for retirement in order to maintain your desired lifestyle.
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From outdated beneficiary designations to the false security of a set-it-and-forget-it plan, active engagement is the strongest defense against costly mistakes.
61M here. Thinking of retiring in the next 2 to 4 years. Just wondering if there were any mistakes/regrets that you wish you had taken into account in hindsight about retirement. Honestly, I’m not int...
Investors often underestimate the risk in their portfolio. Today, Laura Stover and Michael Wallin break down 5 common portfolio mistakes, as outlined by Christine Benz in Morningstar. They are portfol...
The famous boxer Mike Tyson once said, "Everyone has a plan until they get punched in the mouth." He meant it about his opponents, but we can apply that same idea to financial planning in the middle o...
Free retirement training for people within 10 years of retirement and $1M+ saved. Watch “The Sequoia System Training” here: https://learn.rootfinancial.com/ad021b ======================= I've spent 15...
What are the pros and cons of leaving your employee job and joining a concierge practice or direct primary care model? Here are some myths. The post The Benefits and Pitfalls of Entering the World of ...
Planning for retirement can feel overwhelming, especially as you approach the transition from earning a paycheck to relying on your savings. The early phase of retirement brings unique challenges, and...
Some may sound like myths, but these unique tax write-offs can be approved under strict IRS medical guidelines — provided you have the right paperwork.
Many users have told me they aren’t always sure how to enter their assets and spending liabilities into the Actuarial Financial Planner (AFP) Excel workbooks. That’s completely understandable — the ac...
One of this year's bestselling books is a timely reminder of the dangers of leaving money matters solely to your partner.
Your income will determine how much you pay, but here are some smart strategies that can help you lower your premiums.
Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC The margin loan debate continues today on Your Money, Your Wealth® podcast number 589. Jack and Jill r...
This week Roger breaks down IRMAA Medicare surcharges and why retirees should understand them without letting them dominate retirement planning decisions. He explains how the income thresholds work, c...
After getting my first attending paycheck, I knew I had to make smart decisions. Here's how I made those decisions and the mistakes I made. The post The Financial Life Shift: What We Did When I Finall...
Schedule a free financial assessment with an experienced professional at Pure Financial Advsiors: https://purefinancial.com/lp/free-assessment/?utm_source=captivate&utm_medium=podcast&utm_campaign=fre...
Like your golden years, RMDs creep up on you quicker than you think. Planning ahead can prevent you (and your heirs) getting hit with penalties and extra taxes.
I get investments wrong all the time. Losing money is part of the process to financial independence. But after I FIRE'd in 2012, the math changed. With no paycheck to bail me out, I could no longer af...
Financial Assessment (Meet with an experienced professional): https://bit.ly/PureAssessment Free Financial Resources in This Episode: https://bit.ly/ymyw-585 (full show notes & episode transcript) Tod...
Don't put off money conversations with your heirs. Financial education needs to start early, with hands-on opportunities to learn and make mistakes.
I've been lurking here for some time now. I'll be 68 in just a few months and for the past few years have gone on YouTube and some of the other retirement subreddits to figure out if my money would la...
Many doctors are making critical errors when buying disability insurance. Here's what you need to know to protect yourself and loved ones. The post 17 Physician Disability Insurance Mistakes to Avoid ...
It's easy to lose track of spending when you're focused on your family and career. But this is what you're risking when you don't save or protect your income.
A good friend of mine has a retired sister who met someone on a trip, fell madly in love, got engaged, put her house on the market, and moved out of state to join her fiance in Colorado. A couple week...
Jesse Cramer and Jeremy Keil detail 7 real world lessons learned from working with hundreds of retirees. There’s a big difference between studying retirement… …and actually sitting across the table fr...
Social Security isn't simple. Learn the key claiming strategies—spousal, survivor, disability, and more—to maximize your benefits and avoid costly mistakes.
One of the issues we frugal people despise is going through buyer’s remorse. We don't want to feel stupid or ripped off, so we tend to buy fewer things and experiences. Minimalism and early retirement...
Jeremy Keil walks through three critical questions future retirees can answer before their paycheck stops Most people spend decades preparing for retirement by focusing on one number: How much have I ...
Today on Your Money, Your Wealth® podcast number 580, Joe Anderson, CFP®, and Big Al Clopine, CPA, are spitballing for some folks who've done the work, hit the numbers, but aren’t sure if they can rea...
If you're an investor, you're going to make mistakes. But if you can recognize them before they start festering, you'll be in a good spot. The post 13 Common Investing Mistakes Wealthy People Make (Ho...
From holding too much cash to failing to factor in taxes, these investment behaviors can hurt more in retirement, when you've less time to recover from mistakes.
Answering listener questions about comparing REITs and syndications, how to spot red flags in private deals before you commit your money, and how to avoid PMI when buying a home. The post Real Estate ...
Many plans focus on how much has been saved, but it's how much you spend that ultimately determines whether your plan works.
Chris Orestis, founder & president of Retirement Genius, explains how to make more informed Social Security decisions. Social Security is one of the most important decisions in retirement. And yet, ma...
401(k) mistakes aren’t just about saving too little – they’re also about poor planning. Common issues like tax-heavy accounts, lack of diversification, and early withdrawals can reduce your retirement...
An interview with FPL's Amanda Harrell, where we talk through how to handle a 401(k) rollover without blowing up your Backdoor Roth IRA, whether direct indexing is really worth it, and what to think a...
Let’s examine a few cases of people who had tons and tons of money and then lost it all and see what we can learn from their mistakes. The post How Mega-Rich People Lose All of Their Money — and How Y...
Original Medicare vs. Medicare Advantage, Social Security timing, and the enrollment mistakes that follow you permanently. The post Social Security and Medicare Decisions That Can Cost You for Life ap...
High-income physicians are among the most educated professionals in the country. They’re also, statistically, among the most consistent overpayers of ... Read more
From "tax traps" to "safety deposit box blunders," discover the 10 most common mistakes people make when planning their estate.
Many retirement shortfalls aren’t caused by market crashes, but by everyday mistakes. These small decisions can quietly cost you years. Here are 12 common mistakes that can delay retirement and what t...
We inherit many traits from our parents, but these retirement mistakes don’t have to be among them. Gen Xers and Millennials can thrive in retirement.
Here are some of the most common misperceptions about what you need to be financially comfortable in your later years.
Friday the 13th is considered an unlucky day — this year has three. We asked advisors to share their scariest stories of client mistakes.
Jeremy Keil explains 3 smart ways to help your kids with money while avoiding IRS paperwork Early in the year, I received an email from a couple asking a question I hear all the time: “What’s the maxi...
Roger Whitney shifts from financial planning to the non-financial pillar of relationships, sharing a live conversation with Harry Reis about how to feel more loved and connected in retirement. Togethe...
Separating facts from fiction is an important first step toward building a retirement plan that's grounded in reality and not based on incorrect assumptions.
Jeremy Keil explains the 5 RMD (Required Minimum Distribution) mistakes in Retirement and how to avoid them. A retiree recently called for help. It was their first year taking Required Minimum Distrib...
None of us wants to think we'll need long-term care when we get older, but the odds are roughly even that we will. Which is all the more reason to understand the realities of LTC and how to pay for it...
As a semi-retired physician, here's how I handled a huge bull run and the tariff fears in 2025. I definitely made some investing mistakes. The post What’s Your ‘Sleep Well’ Number? Lessons from a Mark...
Whether you’re months away from your 65th birthday or you're planning to work past retirement age, this guide will walk you through the exact steps to secure your coverage, avoid costly mistakes and e...