5 Big Money Mistakes In Retirement Planning

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Show Notes

No one enjoys making mistakes, as they can result in wasted time and money and cause significant stress and frustration. In the complex world of retirement planning, there are countless pitfalls one could fall into if you aren’t properly prepared. In this episode, we’re going talk about the top 5 money mistakes that Scott often sees in retirement planning and how to avoid making them.

We’ll kick off this episode by discussing the impact of ignoring future tax implications in retirement planning. We’ll then discuss important considerations when it comes to taking Social Security, having a clear purpose going into retirement, planning for health care expenses, and more. Stay tuned as Scott shares invaluable strategies that you can start implementing now to optimize your retirement savings and steer clear of pitfalls that could jeopardize a well-crafted plan.

Here’s what we’ll discuss in this episode:

  • Start strategizing about your future taxes in retirement. [3:13]
  • Utilize efficient investments in the right buckets. [7:40]
  • Should you be considering Roth conversions? [8:57]
  • Taking Social Security too early. [12:13]
  • The importance of having a clear purpose going into retirement. [17:45]
  • Planning for health care expenses in retirement. [20:03]
  • Being too conservative going into retirement. [22:38]

Thanks for checking out this episode of the podcast. If you’d like to learn more about financial and retirement planning, check out our YouTube channel here. 

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