May 30

018 | 2 Pieces of Financial Advice You Can Likely Ignore


In most of my prior podcasts, I’ve covered things you can and should do to be successful in your personal finances.

Well, today I want to share a couple of financial decisions that you may not necessarily need to do.

The two main pieces of financial advice that Dave discusses in this episode are target rate retirement funds and revocable living trusts.

Perhaps, you might be wondering what exactly are these two things.

Learn all that and more on this week's episode.

Target Date Funds are good, but other funds may be a better fit depending on your circumstances. Do your homework and make the decision that is right for YOU.

Trusts are important for some, say if you have a property in another state or someone in your family is disabled, but maybe not if you are young with just a few assets as an example. If you have very little financially you should not need a trust, but please, please take an hour and make a will as it's not expensive.

Don’t let the government decide where your assets will go if you die prematurely.

If you plan now you WILL be happier later when you retire.

Questions for Review:

  • Have you ever invested in a target-date fund and if so are you aware of how much risk you are taking on/or not taking on?
  • Have you thought about what would happen if you were to have that untimely death? Where would your assets go?
  • Have you taken the time to set up a simple will? Think today about what you would want to have on it.

Quote from the Episode: "The man on top of the mountain didn't fall there." -Vince Lombardi


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