2800: Retirement Solutions for the 7 Worst Retirement Mistakes by Kathleen Coxwell of New Retirement

Optimal Finance Daily - Financial Independence and Money Advice

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Investing, Self-improvement, Education, Business

4.5 • 1.3K Ratings

🗓️ 19 July 2024

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2800: Kathleen Coxwell from NewRetirement.com outlines essential retirement strategies to avoid the most common financial mistakes, ensuring a secure and sustainable retirement. Learn how to maximize your savings, manage debt, and plan effectively to maintain your desired lifestyle throughout your retirement years. Read along with the original article(s) here: https://www.newretirement.com/retirement/retirement-solutions-for-financial-mistakes/ Quotes to ponder: "The earlier you start planning and saving for retirement, the more successful you’re going to be." "That is a large expense that can more rapidly drain your nest egg. Ideally you want to be debt free before you retire." "Conventional wisdom is that you should only withdraw about 4% of your nest egg to live." Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is optimal finance daily episode 2800.
0:04.0	Retirement Solutions for the seven worst retirement mistakes
0:08.0	by Kathleen Coxwell of new retirement.com
0:12.0	and I'm your host and personal finance enthusiasts,
0:14.6	Diana Meriam.
0:16.2	Now let's get right to today's post
0:18.1	as we optimize your life.
0:20.5	Retirement solutions for the seven worst retirement mistakes by
0:27.8	Kathleen Coxwell of new retirement.com.
0:31.2	If you're thinking about retirement, congratulations. This is a big decision.
0:37.0	Did you make the right retirement preparations? Have you avoided the worst financial mistakes?
0:43.0	Do you have the right retirement solutions?
0:46.0	A strong retirement plan can mean the difference between out-living your retirement savings
0:51.0	and being able to sustain your lifestyle for as long as you live,
0:55.2	no matter how long that turns out to be. Here are seven financial mistakes to avoid
1:00.4	pre and post retirement and the retirement solutions that can provide you with
1:05.1	security. Number one, not saving enough for retirement. Some people postpone their
1:12.3	financial planning until a few years before they plan to retire,
1:16.0	or they don't plan at all.
1:18.0	Putting money into a 401k or an IRA every year is great. Philip James Sitar, CFP with a Mera Prize in Chicago says.
1:28.0	But how do you know whether you're putting away enough?
1:31.0	Remember, the nest egg that you've built up may have to last you 30 years or more.
	...

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