All
Thought leadership series
5 Biggest Retirement Planning Mistakes We See Most Often
What's the biggest mistake people make planning for retirement? There are actually 5 big ones we tend to see over and over. One that sneaks up on a lot of retirees is not having a retirement budget that truly matches how they actually spend. And it’s not just the one big purchase that throws the plan off. The monthly string of “small exceptions" also adds up quick. Especially in the first few years when you all of a sudden have that extra time for hobbies, eating out, more travel, treating the grandkids, etc. None of it feels like overspending. It feels like living your life. That's the “trap”. The budget needs to be honestly stressed test and leave room to pay for those moments that may not have been available to you while working everyday. And then throw in life events like helping the adult kids who are about to buy their first house or a last-minute family trip. If your plan pretends those aren’t going to happen, it might not a realistic plan. The clients who stay on track aren't the ones with more willpower. They're the ones who built room for those moments before they showed up. We cover all 5 mistakes in the video, including waiting too long to start, thinking a 401(k) is the same as a plan, not having a strategy for which accounts to pull from and in what order, and getting too conservative with your investments in retirement. If you're getting close, it's worth checking whether any of these are hiding in your plan. #RetirementPlanning #RetirementMistakes #FinancialPlanning #RetirementIncome
Osaic Wealth Form CRS
Securities and investment advisory services are offered through Osaic Wealth, Inc., member FINRA/SIPC and a registered investment advisor. Additional investment advisory services offered through Strategic Financial Advisors Corporation, a registered investment advisor. Strategic Financial Advisors Corporation and Strategic Financial Services Corporation are not affiliated with Osaic Wealth, Inc.
This communication is strictly intended for individuals residing in states where the contracted representative is licensed. No offers may be made or accepted from any resident outside the specific state(s) the representative is registered. Current registered states: AZ, CA, CO, CT, DE, FL, GA, KY, MD, NJ, NM, NY, NC, PA, SC, TN, TX, VA. Please contact us to determine the states in which each representative is registered.
Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, or legal advice. The information presented here is not specific to any individual’s personal circumstances.
To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances. Osaic Wealth, Inc. does not provide tax or legal advice.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the websites provided here, you are leaving this website. We make no representation as to the completeness or accuracy of information provided at these websites. The company is not liable for any direct or indirect technical or system issues or any consequences arising out of your access to, or use of third-party technologies, websites, information, and programs made available through this website. When you access one of these websites, you are leaving our website and assume total responsibility and risk for your use of the websites you are linking to.