Nov 3, 2017
Seven Things to Avoid to Make Your Money Go Further in
Learn what successful investors do that unsuccessful investors
don’t do. Learn how to follow the example of investment experts to
avoid mistakes that can diminish your money in
Main Questions Asked:
- What should you avoid doing to make your retirement money go
- What are the things that successful investors do that
unsuccessful investors don’t do?
Key Lessons Learned:
Seven Things Successful Investors Never Do
- Never claim your social security benefits without a strategy.
Successful investors have a strategy for everything they earn.
Don’t look at social security as an individual piece, but look at
the whole picture.
- They never invest without a plan. If you are over 50 years old,
you should have an investment plan or risk running through your
savings far too soon. It’s about many things working
- Never only have one source of retirement income. We need
diversified income plans and diversified portfolios. It’s important
to be able to turn different sources of income on and off during
- Never ignore inflation. Life expectancies are in the 90 year
range. This means inflation could be a killer to your retirement
security. One or two percent over 20 or 30 years can make a
- Never forget the key role that taxes play in investing. Many
times taxes are being ignored when money is being shuffled around.
It’s possible to lose 20 to 30 percent to the tax man. Successful
people pay a lot of attention to taxes.
- Never ignore risk. There is a misconception that wealthy people
take more risks when the opposite is actually true. People are
often taking more risk than they need to. Take as little risk as
possible with that core investment egg.
- They never withdraw money from their retirement accounts
without a plan. Contribution is automatic, but withdrawing the
money can be riddled with all kinds of traps like taxes. For every
dollar you earn the IRS is your partner. Savy people pay much less
by having a strategy.
Links To Resources Mentioned
Money Map Retirement Review
Thank you for listening!