Episode #60: Unnecessarily Overcomplicated Planning

Today’s Mission:

If you’ve overcomplicated your retirement plan, then you need to hear this podcast. Discover the dangers of unnecessarily complicating your finances.

(Click the featured times below to jump forward in the episode)

The Briefing

  • 2:17In The News: A recent Forbes article examines the world’s top one percent.
  • 9:00 – Mailbag: Gretchen has inherited lots of stocks and mutual funds, and she wants to know how they’ll be taxed.

Strategy Points:

14:20  – J’Neanne Shares Stories From Portfolios That Have Been Overcomplicated.    

  • These couples had portfolios with stocks, bonds, and mutual funds that were invested in all sorts of things. However, there was a lot of overlap in their portfolio amongst the funds. While these couples were proud of picking their investments themselves, they unnecessarily overcomplicated their portfolios.

16:15 – The Danger Of False Pride.

  • You might be proud of how well your portfolio performed last year, but what’s really important is how it’s performed over the past five, ten, fifteen, or even twenty years. If your portfolio has been a dud over the long-term, it doesn’t really matter how well it did last year.

17:08 – What Is The Purpose For Your Money?

  • The aforementioned couple had overcomplicated their retirement without thinking of the purpose for their wealth. They were living way beneath their means, but they didn’t really have a good reason for doing so. As you’re building your portfolio, consider reality, and consider why you’re amassing wealth. Create goals, and set yourself up for success in retirement.

19:34 – Plan Early And Simplify. 

  • Stock picking, market timing, and track record investing will kill your portfolio. Those strategies have been overcomplicated, and they don’t usually pan out. You should instead capture the returns of the market without gambling on where it’s going. Simplify your investing strategy, and work with an advisor to build a comprehensive plan.

The Grand Plan:

The Spy Kit:

Click the image to get a free retirement rescue toolkit.

More Intel:

The host: J’Neanne TheusContact – Call: (443) 718-6310

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By | 2019-02-05T21:21:09+00:00 February 7th, 2019|Podcast|0 Comments