7 Investing Blind Spots … That Could Crash Your Chances of Retiring Successfully.

We see it all the time, meeting after meeting. Boomers getting ready to retire and having an image or an idea of what their retirement life will be like. These lifestyles run from one edge of the spectrum to the other. Some dream of a quiet lifestyle taking each day at a leisurely pace, others plan a whirlwind of travel and checking items off of their “bucket list”, and others yearn for a retirement life that lands somewhere in-between those two extremes. Regardless of what your goals are, one thing that is the same for every baby boomer getting ready to phase out of their working life is that retiring is a one-time thing. You don’t get a “trial run” and then a chance to change all of your benefits to try another recipe for financial success. If you make one little mistake, it’s possible that it could cost you financially and possibly cause you to have to go back to work.

The crazy thing is, oftentimes, what ends up costing so many people so much money are the things that come up out of nowhere. For example, everything in your life is rolling along smoothly and then your spouse has a health crisis…a costly one. Obviously your dreams of an enjoyable retirement come to a sudden stop as your time and attention are now spent taking care of your spouse.
To make matters worse, you’re suddenly drowning in a sea of healthcare and medical expenses and your financial security is at risk.

Unfortunately, as financial advisors, we’ve collectively seen this thousands of times and regardless if it’s a health crisis, underestimating the taxes you will need to pay or the impact of inflation, you may need to significantly lower your spending in retirement. The good news is more often then not, there are ways to develop a plan to help avoid these dire financial consequences.

This weekend on America’s Wealth Management Show, Bud and I will reveal 7 financial blind spots that could crash your hopes and dreams of retiring with the lifestyle that you have always dreamed of. Plus, some little-known strategies to help protect you, and keep your retirement on track! Make sure to tune in!

To find out when America’s Wealth Management Show airs in your city, click here. If you missed it or would like to listen to past shows, you can find them by clicking here.

Investment advisory services offered through Barber Financial Group, Inc., an SEC Registered Investment Adviser.

The views expressed represent the opinion of Barber Financial Group an SEC Registered Investment Advisor. Information provided is for illustrative purposes only and does not constitute investment, tax, or legal advice. Barber Financial Group does not accept any liability for the use of the information discussed. Consult with a qualified financial, legal, or tax professional prior to taking any action.

Posted in: Blog, Financial Planning, Investment Management, Risk Management, Retirement

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