The retirement world is full of retirement rules. Are these rules legit or full of bull?
Let's take a look at some of the issues that women commonly face in the financial world, and how all retirees and pre-retirees can learn from these challenges. Later on, we'll tackle a listener question about the Rule of 100.
We often find that people are clinging to certain ideas or beliefs that end up giving them a sense of false hope about their retirement. It’s a dangerous position to be in. Let’s explore some of the faulty thinking that ultimately leaves people underprepared for retirement.
So, we’ve all experienced what a market crash feels like in recent memory. If you had forgotten what it felt like in 2008, then 2020 should have been a sobering reminder of what it’s like to experience that sudden market drop. Now, we don’t know when the next market crash will come. Will rising virus cases now or a resurgence in the fall cause another one? Will the lead up to, or result of, the election cause turbulence? We just don’t know what factor is going to come along and serve as the catalyst for the problem. But what we can do is follow some basic rules to ensure we don’t lose our shirts next time the arrow on the graph tumbles down.
What can we learn about money by exploring some quotes from the great Mark Twain?
It seems that most people don’t have a clear picture of whether they should contribute to a traditional IRA or a Roth. Let’s discuss how to determine what’s best for you.
Let’s talk about some of the common mistakes that we see being made time and time again by retirees and pre-retirees.
Dave Ramsey has earned a lot of respect among savers and investors over the years as evidenced by his enormously popular radio show, books and sold out performance venues when he speaks. But is all of his advice worth following? Is it possible that some of the things he professes will actually hurt you financially? Let’s take a look at some of Dave’s most popular advice and see if and when it makes sense for retirees and pre-retirees to disagree.
We were planning to bring up this conversation before the Coronavirus pandemic hit, but now it just makes it even more important to discuss. You likely seek financial advice from lots of difference sources. And some of those sources will certainly have good intentions, but they’ll often give bad financial advice. Let’s look at some examples and explore the reasons why we have to be very careful from whom we’re taking this important guidance.
Time for an update on where we stand with the markets, the economy, and retirement planning as it relates to the Coronavirus pandemic.