1144: Prevent The Big Mistakes AND The Root of All Evil by Al of FA Confessions on Personal Finance Advice

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 27 April 2020

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

2 short posts from Al of FA Confessions shares where he shares his thoughts on preventing the big mistakes and the root of all evil. Episode 1144: Prevent The Big Mistakes AND The Root of All Evil by Al of FA Confessions on Personal Finance Advice Al of FA Confessions is a father, drummer/musician, self-proclaimed amateur philosopher, avid health enthusiast, and daily podcast and audible listener. He is not looking for new clients, nor does he have a plan to run for office. He will remain anonymous on the blog until he decides to retire from his profession. His primary vision for his website is to speak authentically from the heart and let his audience know when he thinks something is BS. The original post is located here: https://faconfessions.com/2020/02/17/prevent-the-big-mistakes/ & https://faconfessions.com/2019/10/07/the-root-of-all-evil/ Visit Me Online at OLDPodcast.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is optimal finance daily episode 1144 prevent the big mistakes and the root of all evil both by
0:07.6	al of f a confessions dot com and i'm Dan I'm your host and a very happy Monday to you. Hope you had a good weekend.
0:15.0	And I have two posts today from Al of FA Confessions.
0:19.0	So without anything further, let's get right to them as we start optimizing your life.
0:25.0	Prevent the big mistakes by Al of F.A Confessions.com
0:32.0	There is a lot of focus on what to do. F.A Confessions.com.
0:33.2	There is a lot of focus on what to do when it comes to personal finance rather than on avoiding
0:37.9	the big mistakes.
0:39.8	Avoiding common pitfalls is a lot more effective, but very rarely discussed.
0:44.1	The action-oriented to-do strategies are simple.
0:47.6	Contribute to a retirement account early and consistently.
0:51.0	Stay invested during market downturns.
0:53.0	Leave equity in a primary residence until you're ready to sell.
0:57.0	And do not do anything stupid.
0:59.0	The big mistakes and pitfalls that are so common involve breaking these rules.
1:04.4	Let's look at a story about Bob and Jolene to illustrate some of the biggest mistakes.
1:09.2	Bob and Jolene are in their early 50s.
1:11.4	They've accumulated more than $500,000 in 401k and IRA accounts.
1:16.3	They've lived in their primary residence for more than a decade, and they have about 150k in
1:20.6	equity. If they stay the course,
1:22.7	stayed invested and aggressively paid off their mortgage,
1:25.7	they could probably retire comfortably in their early 60s.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Optimal Living Daily LLC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Optimal Living Daily LLC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.