5 Common Pre-Retiree Mistakes

Retirease Radio with Victor Medina CFP®, RICP®, CELA®

No one wants to make mistakes with their retirement plan, but the truth is we’re all human and mistakes are going to happen. Almost everyone we’ve worked with has done something that we would characterize as a mistake. It’s not that you made the mistake but instead, how did you react to it?

Let’s talk about some of the pre-retiree mistakes we most commonly see so that you’re aware of these things and can hopefully avoid them. We’ll also explain what can go wrong for each of these mistakes and tell you what you should be doing instead. And remember, the good news is that even if you’ve already made any of these missteps, they can be corrected through planning.

Here are some of what we discuss in this episode:

• Are you are using the same investment strategy for creating income that you used to accumulate wealth? (2:50)
• Why you don’t want to automatically take Social Security as soon as you’re eligible. (5:32)
• Are you more focused on tax prep rather than tax planning? (8:56)
• Don’t assume that you’re retirement healthcare needs are going to be covered by Medicare. (11:05)
• Don’t take on more risk than you should to make up for lost time. (14:31)

About Retirease Radio:

Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.

Connect:

Medina Law Group: https://www.jerseyestateplanning.com/

Palante Wealth Advisors: https://palantewealth.com/