Today’s Mission:
In this series, we’ll look at some of the most widely believed financial myths and try to bust them wide open. There are many people that base their decisions on these myths and that’s scary. We want to make sure you aren’t making any mistakes based on misinformation.
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(Click the featured times below to jump forward in the episode)
Strategy Points:
With so much information available to us at every turn, it becomes a challenge to sort through the good from the bad and the right from the wrong.
Unfortunately, that rings true in the financial industry. Opinions of every kind can be found on television, online, and on social media. Every opinion is unique and carries with it different levels of truthfulness.
On this episode of Your Financial Mission, we’ll continue a two-part series where we’ll bust these financial myths wide open by providing the correct information you need. Part two will focus on taxes, planning without an advisor, and long-term care. There are commonly-held held beliefs involving each of these that you have likely heard about and we want to explain why they’re wrong.
Along with our main topic, we have a great discussion on proposals to forgive student loan debt that have been presented by presidential candidates. We asked J’Neanne to give us her opinion on the proposals but she also shares a solution that might be more manageable.
It’s a full show and we’ve provided a rundown below. Click the timestamps to skip around and listen to specific topics.
2:14 – Introducing the topics for today’s show.
2:37 – In the news: Democratic presidential nominees proposing plans to forgive student loan debt. J’Neanne gives us her opinion and shares a solution she thinks could work.
9:11 – Time to continue the financial myth-busting series.
9:31 – Recapping the myths we covered in part 1.
9:50 – Myth: You’ll probably be in a lower tax bracket when you retire.
11:49 – Myth: Financial planning is much easier without an advisor now because of all the technology available.
13:39 – J’Neanne shares a great example of why you need someone that can provide context.
14:42 – Myth: Longterm care is not going to happen to me.
18:42 – Getting to know J’Neanne: If you didn’t have to sleep, what would you do with all that spare time?
20:35 – Mailbag question: I’ve seen a lot of growth in my 401k recently and I feel like I should take risk off the table by capturing these gains. But what happens if the market keeps rolling for a couple more years?
The Grand Plan:
[spp-tweet tweet=”Yes, there’s great technology. There’s great information. But if you don’t have someone that can put it into context, specifically your world and what you want to do for the next 30 years of your life, then the technology is not all that helpful. –Your Financial Mission“]
Related Content:
The Spy Kit:
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More Intel:
The host: J’Neanne Theus – Contact – Call: (443) 718-6310
