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Financial Mythbusting: Making A Financial Plan Based On Reality

Today’s Prep:

Do you know the difference between a financial myth and financial reality? When you make a plan for your future, you want to make sure it is based on what’s true. We’ll talk through four ideas to discover whether they are myths and real.

(Click the featured times below to jump forward in the episode)

 

Equipping Points:

When it comes to financial planning, there are a lot of myths out there about what is most important. Have you fallen for any of these myths floating around in the financial world?

As the saying goes, there are only two guarantees in life: death and taxes. While those are inevitable, a lot of other changes are unknown. A plan is there to help guide you along the way. So is the bigger plan the better? Or is a simple plan the way to go?

On this episode of the Retirement Ready podcast, Eric will bust or confirm some of the myths you may have heard when it comes to retirement planning. If your estate seems simple, do you really need more than a will? Or how about the myth that your spouse would only need half as much income after you die?

When it comes to your financial plan and leaving a legacy, you want to be ready for whatever may come your way. It all starts by finding the truth and reality amongst all the myths.

Listen to the entire episode or click the timestamps below to hear a specific segment.

[1:14] – Myth or Bust: The more a financial plan weighs, the more valuable it is.

[4:08] – Myth or Bust: My life is simple, so all I need is a will.

[5:20] – Make sure the people you are leaving money to know it will be there to claim.

[6:40] – Myth or Bust: My spouse will only need half as much income when I’m gone.

[8:49] – Myth or Bust: When I retire, I need to dramatically shift from stocks to bonds in my portfolio.

 

Related Resources:

Watch Out For These Red Flags When Working With a Financial Advisor

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Today’s Takeaway:

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The host: Eric Peterson - Contact - Call: (515) 226-1500

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