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 10 mistakes to watch out for. In part two of this two-part episode, we’re going to discuss the next 5 money mistakes that Phil often sees in retirement planning.
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, such as not having a clear retirement goal, forgetting to account for inflation in your plan, failing to update your retirement plan regularly, and more. Tune in as Phil shares how to navigate these more effectively so that you can be prepared when it’s your turn to plan for retirement.
Here are some of the things we’ll address in this episode:
- Not having a clear retirement goal [1:21]
- Not accounting for inflation in your retirement budget [4:22]
- Failing to update your retirement plan regularly [10:50]
- Assuming that you won’t live a long time [14:28]
- Forgetting about sequence of returns risk [19:08]
If you have any questions about what we discussed in this episode, reach out and we’ll be happy to set up a time to talk.