Are you making these mistakes that could sabotage your retirement? In episode 79 of the YMYW podcast, learn tips to avoid making costly financial mistakes with your nest egg. Original publish date November 5, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed.
00:00 – Intro
03:15 – “You’ve got public pension plans and private pension plans, and sometimes they play by different rules.”
06:43 – “The problem with some of these defined benefit plans and why there is $1.7 trillion underfunded is the assumptions are a little off.”
09:43 – “The point is, you don’t have any control over these defined benefit plans.”
12:18 – “Mistake one is failing to plan for medical expenses.”
17:00 – “Mistake number four is helping out adult kids.”
19:03 – “When it comes to retirement, you have to pull money out of your IRAs and 401(k)s and you pay taxes on that. A lot of people don’t realize that. In many cases when you’ve done a great job saving you’re in a higher tax bracket even when you’re working because of that required minimum distribution.”
22:04 – “[one of] the seven scariest retirement moves…is holding most of your retirement funds in a single company stock.”
24:32 – “If you do have company stock and you’re heavily weighted there, before you diversify out – just make sure that you understand net unrealized appreciation.”
33:11 – “Here’s another scary retirement move: thinking you can actually beat the stock market.”
36:20 – “No tax diversification – that means you’ve got all your assets in your retirement accounts…”
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IMPORTANT DISCLOSURES:
Pure Financial Advisors is a registered investment advisor. This show does not intend to provide personalized investment advice through this broadcast and does not represent that the securities or services discussed are suitable for any investor. Investors are advised not to rely on any information contained in the broadcast in the process of making a full and informed investment decision.
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC, a Registered Investment Advisor.
• Pure Financial Advisors LLC does not offer tax or legal advice. Consult with your tax advisor or attorney regarding specific situations.
• Opinions expressed are not intended as investment advice or to predict future performance.
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