10 Biggest Money Mistakes In Retirement Planning

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. Avoiding these crucial missteps can have a significant impact on the success of your retirement plan. So, 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.

From not understanding your monthly expenses to ignoring the future tax implications of your retirement savings, Wade with cover a range of pitfalls to avoid. He’ll also emphasize the importance of reviewing and updating your retirement plan, accounting for long-term care in your plan, paying off high-interest debt before you retire, and much more. For our Kingdom Minute segment, Wade will dive into what the Bible says about co-signing for another person’s loan.

 

Here are the myths we break down in this episode:

• Not understanding what your monthly expenses are. (1:20)
• Not paying off high-interest debt before you retire. (4:39)
• Factoring in long-term care costs into your plan. (7:22)
• Ignoring the future tax implications of your retirement savings. (9:32)
• The Kingdom Minute: Co-signing for another person’s debt. (11:03)

 

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/ 

 

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.