Ep 86: Five Beneficiary Mistakes - Are You Accidentally Spoiling Your Retirement Plan?

Beneficiaries are an important part of a well-thought-out retirement plan. While it may seem like naming beneficiaries is a simple task, there are some areas in this process that are easy to overlook, which could cause major complications down the road. On this episode, we’ll address five common beneficiary mistakes. We’ll bring these mistakes to your attention and explain why these could damage your retirement if you’re not careful.

Join us as we talk about the importance of coordinating your beneficiary to your will and discover why it’s essential to keep your beneficiaries up to date as your life changes. We’ll also cover the complications of naming minors as beneficiaries, the importance of designating a successor, and more. Forgetting about these steps could completely spoil an otherwise well-done retirement plan.

Here’s some of what you’ll learn in this episode:

• The complications with naming minors as beneficiaries. (1:41)
• Why it’s important to coordinate your beneficiary designation and your will. (3:26)
• How failing to designate successor beneficiaries could cause potential complications. (7:34)
• Why you shouldn't name your estate as a beneficiary. (9:08)
• Making sure the information on your beneficiary is correct. (10:17)
• Changing beneficiaries when your life situation changes. (10:54)

 

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