Common Sense Financial Podcast: Mindset & Growth

What should you think about when positioning your 401k and pension assets? How can you avoid the pension trap many people fall into? Find out about the two main purposes of your money, the role your cash flow plays, and how to make the most out of your pension choices in this podcast episode. When you’re accumulating money – when you’re working and accumulating – you’re not needing the money that you’re saving. You’re putting it away for retirement. You’re living on the income that you’re receiving. In this phase, everything is about watching your account value grow. On the other hand, when you reach retirement and shift over to utilization, it’s no longer about rate of return. The focus here is on having money available when you need it. When it boils down to your money, there are two main purposes. Money can be used as a resource to produce income (the proverbial “golden goose” that produces income each month or each year for whatever duration of time needed). However, money can also be the money that’s se