We usually talk about the things that people need to do to have financial success, but often times retirement is more about what you didn’t do. Let’s face it, we’re all human and mistakes are part of life, but we have to be aware of where the pitfalls often are.
Today we’ll explore the common ways that people make mistakes with their money and help explain what you can do to avoid these missteps.
What We Discuss Today:
2:32 – Fear and greed driving decisions
3:59 – Loss aversion bias
6:37 – Making investment choices just to save on taxes
8:14 – Sitting in cash for too long
11:00 – Overthinking every decision
13:15 – Blindly following financial advice
15:24 – Helping our clients
Quotable Moment:
“When you’re fearful is really the worst time to make certain decisions. What you need to do is go back and look at your plan and look at your time horizon.” – Spiros Vassilakos
