Are you making these mistakes that could sabotage your retirement? Find out some tips to avoid making costly financial mistakes with your nest egg.
3:15 “You’ve got public pension plans and private pension plans, and sometimes they play by different rules.”
6:43 “The problem with some of these defined benefit plans and why there is $1.7 trillion underfunded is the assumptions are a little off.”
9:43 “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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