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Myths of Conventional Financial Wisdom

 

Financial rules of thumb are useful to many people who can’t or won’t make time for complete and in-depth financial planning, but do these concepts and ideas that we have repeatedly heard from a variety of sources and accepted as truth work in today's new reality?

In this episode Ryan and Adam cover five common phrases/rules of thumb often repeated on the topic of retirement planning, and explore reasons why/when that phrase may or may NOT be a great fit for your retirement planning situation:

  1. Your Current Age Should Be The % Of Your Portfolio In Bonds
  2. The 4% Rule
  3. Taking Big Risks For Big Rewards
  4. Tax-Deferred Retirement Accounts Are The Best Way To Grow Your Retirement Savings
  5. Your Expenses Diminish in Retirement So Your Don't Need As Much Income

Are you currently following one of these phrases as a guiding principle for your retirement planning process?  Speak with your financial advisor to make sure you are using the right strategies for YOUR unique retirement goal!

 

Tags: Retirement Planning, Asset Protection Planning, 401(k), after the paycheck

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