When it comes to investing, do your actions line up with your goals? It’s easy to talk about what you want to accomplish but are you taking the proper steps to make progress towards those things? Let’s talk about the ways in which people will say one thing about their finances but do another.
The Reality of the Matter:
If you sat down and met with a financial advisor for the first time, they are going to ask you about retirement goals and how you plan to spend it. Then they’ll go through your portfolio and see where you currently stand.
When that happens, will your investments and assets line up with the answers you provide the advisor? A lot of times, people we meet with describe their investing personality and their financial goals, but one look at their portfolios tells a completely different story. Many times it’s not intentional at all. They just believe they are doing the correct thing or trusted the advice they were given.
Let’s talk about some of the common scenarios where we see examples of this. It happens in a variety of ways. It’s not just about the actions you’ve taken. It’s also about the things you haven’t made a part of your plan.
On this episode of the Retirement Reality Podcast, Mike Kojonen will share some first-hand accounts of how and why this happens. We want to help inform you because the lack of information is what causes these things to happen in may cases.
For example, are you someone that works diligently to save money by shopping for deals and finding the best prices? Are you doing the same thing with your investment options? Many great savers overlook the fees they’re paying in retirement accounts and that works against everything they spend time and energy on.
Join us as we go through more examples of people saying one thing and doing another and make sure you stick around to find out what steps you can take now to make sure you aren’t doing your best in retirement planning.
One question will come out of the mailbag on this show as well. Let’s spend some time on estate planning and try to answer the question of whether you should have a trust as part of your plan.
Listen to the full episode or click on the timestamps below to skip around to a specific topic.
1:02 – Update on Mike professional career.
2:53 – What we’re talking about today.
3:17 – They spend a lot of time saving but don’t worry about fees in their investments.
5:33 – Someone says they aren’t comfortable with risk but their portfolio doesn’t reflect that.
7:26 – People that really care about their family and loved ones but don’t have a plan in place to take care of them in the event something happens.
10:24 – People want to retire as soon as possible but don’t take the time to put a plan in place.
13:52 – Mailbag question: Is it wise to have a trust as part of my financial and estate plan?
Thanks for checking out the Retirement Reality Podcast. We’ll talk to you again next week.