Ep 80: Avoid Making These 5 Retirement Mistakes

Common Sense Financial Podcast

Episode Intro

“The more money you have, the bigger the mistakes,” someone once told Brian… How does that translate into retirement planning? And how can you help ensure you approach your financial planning for your “golden years” in the best possible way?  In this new episode of the Common Sense Financial Podcast, host Brian Skrobonja goes over five retirement mistakes that you should stay away from at all costs, as well as what retirement is actually about.

Show Notes

  • Brian touches upon something that a very successful person told him when he was getting started with his business back in 1993: ‘The more money you have, the bigger the mistakes.’
  • With his desire to work hard and strong work ethic, Brian quickly became successful. But there was a problem with his approach – Brian opens up about that.
  • Brian shares some of the retirement mistakes he has seen people make in his 30-year career.
  • Having a distorted view of what wealth really is and having what Brian calls “vertical diversification” are two common mistakes Brian has seen over and over again in his career.
  • There are many factors to consider when attempting to diversify. You shouldn’t believe that a bank account and a portfolio of public investments are all that’s available to you as you move your diversification horizontally.
  • Brian points out a common practice to avoid: making an investment decision based on the tax deduction alone.
  • When making decisions regarding how you save money, Brian suggests considering how you’ll ultimately use the money.
  • Brian discusses why you shouldn’t have too much dependency on markets nor having complacency.
  • Brian sees retirement as a balancing act between growing money for the future while drawing income for your retirement needs.

BUILD Banking™️ is a DBA of Skrobonja Insurance Services, LLC. Benefits and guarantees are based on the claims paying ability of the insurance company. Not FDIC insured. Results may vary.

Any descriptions involving life insurance policies and its use as an alternative form of financing or risk management techniques are provided for illustration purposes only, will not apply in all situations, may not be fully indicative of any present or future investments, and may be changed at the discretion of the insurance carrier, General Partner and/or Manager and are not intended to reflect guarantees on securities performance.

The term BUILD Banking™️, private banking alternatives or specially designed life insurance contracts (SDLIC) are not meant to insinuate that the issuer is creating a real bank for its clients or communicating that life insurance companies are the same as traditional banking institutions. This material is educational in nature and should not be deemed as a solicitation of any specific product or service. BUILD Banking™️ is offered by Skrobonja Insurance Services, LLC only and is not offered by Madison Avenue Securities, LLC. nor Skrobonja Wealth Management, LLC.

Any references to protection, safety or guarantees, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier.

Skrobonja Insurance Services, LLC does not provide tax or legal advice. The opinions and views expressed here are for informational purposes only. Please consult with your tax and/or legal advisor for such guidance.

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