Slide guide in the Retirement Plan

Aug 6th, 2022
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How to slide guide in the Retirement Plan

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[Music] foreign [Music] youre watching portfolio makeover an original series from ETF Guide TV Im Rhonda leggy and today were going to examine a 686 thousand dollar retirement portfolio for TB in Tucson Arizona and Im gonna tell you what I like about it what I dont like and what can be improved now before we introduce everyone to TB and take a look at her portfolio I wanted to share with you a poll that was taken recently on this very Channel and this uh this was kind of trying to get a glimpse at what were peoples biggest regrets over the past year and you can see number one regret owning too many of those high risk volatile growth stocks over 40 percent or just about 40 percent of the audience or respondents uh felt that they had too many of those types of stocks in their portfolio but look at number two the top response was my portfolio didnt have enough big of a enough cushion that was 33 percent of respondents and I just want to congratulate the audience for recognizing the

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7 common retirement planning mistakes and how to avoid them Expecting the government to look after you. Counting on an inheritance. Not having an estate plan. Not accounting for healthcare costs. Forgetting about inflation. Paying more tax than you need to. Not being realistic. Embrace your future.
Most Common Retirement Mistakes ing to professionals, the most common retirement planning mistakes are time-related, like outliving savings or not understanding how inflation can affect a portfolio over time.
The 4% rule says people should withdraw 4% of their retirement funds in the first year after retiring and take that dollar amount, adjusted for inflation, every year after. The rule seeks to establish a steady and safe income stream that will meet a retirees current and future financial needs.
Answer: Underestimating the impact of inflation. Underestimating how long you will live.
To thoroughly plan your retirement, the following 7 steps (in any order) are considered essential: think, budget, share, act, save, protect and review. Click the picture below for more detail about the seven steps for planning your retirement. The IFEA 2023 awardees were reviewed and selected unanimously by..
Overspending, investing too conservatively and veering away from your plan these are some of the most common traps you can fall into on the way to retirement.
One example is the $1,000/month rule. Created by Wes Moss, a Certified Financial Planner, this strategy helps individuals visualize how much savings they should have in retirement. ing to Moss, you should plan to have $240,000 saved for every $1,000 of disposable income in retirement.
The Bottom Line The worst retirement mistakes are probably not planning to retire at all, failing to take full advantage of retirement savings plans, mismanaging Social Security, making poor investment decisions and neglecting the non-financial side of retirement.

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