Common Sense Financial Podcast: Mindset & Growth

How can a mindset shift help you avoid one of the most common retirement planning mistakes? And how can you know assets you should set aside to generate the income needed to retire? Learn about the Five Minute Retirement Plan and why it’s an invaluable resource to leverage as you’re planning your retirement. The most common mistake people make when planning their retirement is assuming that the way wealth was created is the same way they should hold wealth in retirement, with the added twist of being a little bit more conservative. Popular belief suggests that, as you age, the level of risk an investor should take declines in an effort to preserve assets and protect them from market loss. Most people face a dilemma: by taking on too much risk they run the risk of losing money, while by not taking on enough risk they run the risk of running out of money. One approach often used is to simply keep the risk moderately high with the belief that profits can be skimmed from the portfolio while remaining below the t