Money Mistakes You'll Regret & How To Avoid Them

December 7, 2023

“Learn from the mistakes of others. You can’t live long enough to make them all yourself.” – Eleanor Roosevelt… Ever wish you could foresee financial missteps before they happen? In today’s episode explore some real-life stories of regret and arm yourself with the essential dos and don'ts to ensure your money works for you, not against you.

“Learn from the mistakes of others. You can’t live long enough to make them all yourself.” – Eleanor Roosevelt… Ever wish you could foresee financial missteps before they happen? In today’s episode explore some real-life stories of regret and arm yourself with the essential dos and don'ts to ensure your money works for you, not against you.

Listen in as we discuss the drawbacks of early IRA withdrawals and how important it is to keep lifestyle creep in check in your peak earning years. We’ll also chat about the potential impact of overspending on tuition for your children, the risks that come with retiring early without proper planning, and more.

At the end of this episode, Frank will chat about his favorite winter activity and answer a mailbag question about whether to terminate a whole life insurance policy.

Here’s some of what we discuss in this episode:

0:00 – Intro

4:25 – Premature IRA withdrawals

7:34 – Lifestyle creep

10:24 – Assisting your children

13:29 – Retiring too early

18:06 – Roth IRAs

21:50 – Favorite winter activity

25:53 – Listener question about whole life insurance policy

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Licensed Insurance Professional. Respond and learn how financial products, including life insurance and annuities can be used in various planning strategies for retirement. The information contained herein is based on our understanding of current tax law. The tax and legislative information may be subject to change and different interpretations. We recommend that you seek professional tax advice for applicability to your personal situation.

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