10 Easily Avoidable Retirement Mistakes
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- เผยแพร่เมื่อ 24 มิ.ย. 2024
- In retirement, there are many risks that are out of our control -- while others are not. Here are 10 retirement risks you can easily avoid.
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Timestamps
0:00 - 10 Easily Avoidable Mistakes in Retirement
0:42 - 1. Not taking care of yourself
1:33 - 2. Not having a challenging pursuit
2:35 - 3. Not letting go of stress
3:34 - 4. Too much / not enough investment risk
4:36 - 5. Changing investments at the wrong time
5:35 - 6. Failure to Launch
6:31 - 7. Too much consumer debt
7:19 - 8. Scammers
8:16 - 9. Underestimating long-term care costs
9:10 - 10. Things you know that ain’t so
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-- About Patrick King CFP® --
Patrick King is a fee-only financial advisor in Atlanta and the Founder of Prana Wealth. Over his career, Patrick has helped CEOs, all-star athletes, Grammy-winning artists, and many others build their wealth, retire sooner, and create a legacy. Patrick enjoys yoga, mountain biking, golf, travel photography, and Clemson football.
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Are there any other risks that are avoidable in retirement? Let me know if there are any more that I should add to this list!
Good list. Nice presentation... I might add retiring too soon or if you are not sure you can afford it... being certain that you have the right medical coverage, supplements etc, to guard you against catastrophic expenses.
Great points here -- if you haven't run the numbers, waiting a year or two can make a significant difference. Also, waiting until Medicare kicks in can save some big bucks. Great comment! 🙏
I may have missed this but
Taxes, plan for those RMDS for example
I’m retired and my husband retires in 6 weeks. I played this on the TV so he could watch it too. We are ready, but he gets nervous.
Nice! I'm thrilled you found it helpful. It's a big leap to retire. What's he nervous about?
Great advice. Thanks for posting the video.
Anytime, @Andrew ! 🙏 Was there anything here that surprised you?
Good presentation. The last reminder about the 'house where the kids grew up' was a reminder that the house is getting ready to retire too! This means the furnance, water heater, air conditioner and other parts of the house that wear out all need to have a retirement plan as well!
Ha! So true -- it's easy to look at the increase in home prices and think of its "return" in those terms. But insurance, taxes, and repairs can add up!
Fantastic advice
Thanks, @domari nolo ! 🙏 Was there one thing that surprised you?
@@PranaWealth nothing in particular, but your commentary on stress and limiting your exposure to the news cycle really struck home for me. Thanks again for your insights.
Anytime, @domari nolo ! 🙌
Your channel will surely grow. 👍
Thank you, @BenzoB ! It's been a fun thing to build!
Another great topic. 16 months!
Nice! Thank you, @wjb111 ! 🙏 16 months will go by quickly!
Everything in this video is excellent, the self pay health ins. will be my largest monthly expense when retiring early in 27 months.
Nice! 27 months will be here before you know it! Congrats, Harry! 🙌
Coors light!!!!! Aaahhh......