Avoid These 7 COMMON Retirement Mistakes

[@foundryfinancial]

Have you made any of these mistakes?

[@PraveenSrJ01]

I have made at least one of them

[@oldrrocr]

set up a living trust!

[@chrisforker7487]

It’s a balance, if you don’t spend money and enjoy retirement early, you’ve squandered the time and can’t get it back. The vast majority of us spend less and less the later in retirement. I’ve seen far too many retirees fret over money and don’t enjoy anything and die very early. It’s truly a balance that is very individual. No one size fits all. Great video!

[@landeeld9596]

Great advice. Im so glad to be retired with most of those ideas in place. Peace of mind

[@fredswartley9778]

Great video. It's always good to hope for the best but prepare for the worst. Good retirement planning is all about minimizing risk. The risk of inflation, longevity, healthcare costs, etc.

[@FIRED13]

I project to 100 We keep multiple years of expenses in cash equivalent so we don't withdraw into down markets We have been keeping expense records going back decades so our cashflow need projections are pretty accurate within reason We build in several contingencies in our plans to ride out some unknowns

[@foundryfinancial]

Love it. Sounds like you’re on top of things.

[@FIRED13]

@@foundryfinancial Still learning, never want to get too comfortable 😁. TY for your effort educating the normal people! We all start somewhere

[@jjdelamo6246]

My portfolio is this: 1. Three (3) paid off Rental properties (monthly net income is $3k). managed by property mgmt co. 2. QYLD , high yield ETF, 12% annual yield , my monthly net income is $1k 3. S&P 500 index 4. money market, SPAXX, yields 5% I am 58, single divorced, retired, debt free, lives in Las Vegas and Manila (50/50).

[@foundryfinancial]

Is that in a taxable account? QYLD is inefficient from a tax perspective, but it is an interesting fund.

[@jackthoma3600]

Why would you move to a 3rd world country with terrible humidity???

[@muubie]

This video was really excellent. I especially liked the way you explained #2. Do you have a video that explains the importance of having a more balanced allocation while in retirement?

[@foundryfinancial]

Thanks! The closest thing I have is last weeks video. kzbin.info/www/bejne/o4LNppaippqpmM0si=BBsfWoXdm5h4h4b6

[@augustwest9339]

After I retired I moved my tax deferred IRA from a 100% S&P 500 index fund to VBIAX. For my Roth IRA I am staying with the 100% S&P 500 Index fund because my goal is to let it ride and will pass it on to my children as beneficiaries.

[@foundryfinancial]

There an interesting backtest I just saw on VBIAX and running out of money in retirement. I’d encourage you to run it on Portfolio Visualizer. Really interesting.

[@augustwest9339]

I also have a healthly taxable brokerage account plus SS. Running my numbers- I'll never have to take more than my RMDs in that tax deferred IRA once I reach 73. My analysis has me with over 3X my present wealth if I make it to my 90s. ​@@foundryfinancial

[@PracticalAccuracy]

I agree with this video. There is a difference in investing for retirement and investing in retirement. If investing in the nasdaq 100, you would not want the nasdaq 100 dropping 40% the year before you retire. How would you advise transitioning from growth to asset preservation before retirement to prevent this?

[@foundryfinancial]

You want to move towards a more balanced portfolio. A bit more than I can explain here though.

[@mdevorah6833]

Question. How do i choose bonds for my mom. She no longer can do this. Its up to me to be a good steward of her money

[@miragexl007]

Right off the bat in this video...95 y/o is kind of ridiculous For the vast population. The constant rise of cancer, diabetes, CAD, etc.. I get what you're saying, and yes...plan farther.. But Maybe 90, but 95+?

[@foundryfinancial]

I have 3 relatives that are late into their 90s. Past 95

[@daw7773]

Agreed, the reasons you mentioned and COVID has reduced average American lifespan to 81 years. As a healthcare professional, I am seeing more patients with severe/chronic diseases(e.g. heart disease, diabetes type 2, hypertension) under the age of 50 at a much higher rate compared to 30 years ago.

[@PraveenSrJ01]

My grandmother is 96 years old

[@glenn71144]

I didn't hear anything about dividends.

[@mdevorah6833]

Lol... im.looking to 160!!! 86 is way too soon..

[@ryanchinh1040]

I retired at 35 years old last year 2023.

[@woodelfdragon8603]

300 a year 💀 I'm cooked

[@miragexl007]

Absolutely right about inflation... Or biden type years In the future

[@foundryfinancial]

I think we run the risk no matter who is in office. The biggest possible trigger could be a debt crisis.

[@chrisforker7487]

The catastrophic spending started with trump! Inflation followed! Is spending still out of control, absolutely!

[@PraveenSrJ01]

It will be a it worse with Trump

[@PeachSharon]

Good advice