Ep 91: 5 Beneficiary Mistakes – Are You Accidentally Spoiling Your Retirement Plan?

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Show Notes

You’ve worked hard for your savings and investments, and we’ve found that most people want to make sure that those funds pass on to someone that’s important to them when they pass.

Whether you want to pass along your assets to children, grandchildren, a charity, or anyone else that’s special to you, it’s important to make sure you build an estate plan free of mistakes so that money doesn’t end up going to someone you didn’t intend or sitting with the courts in probate.

In this episode, Scott will address five, unfortunately, common beneficiary mistakes. These could cost you and your loved ones dearly, and end up spoiling an otherwise well done retirement plan.

Here’s more of what you’ll learn on this episode:

  • The troubles that could happen when naming minors as your beneficiaries. [3:53]
  • Why you want to coordinate your beneficiary designations with your will. [10:30]
  • The risk of not naming alternative or successor beneficiaries [14:28]
  • Why you don’t want to name your personal estate as a beneficiary. [15:58]
  • Errors that we see people make in their account. [17:07]
  • A few other things to check for. [18:07]

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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