April Fool’s Day is all about jokes and pranks, but when it comes to retirement planning, getting fooled can cost you real money. Today, we’re uncovering the beliefs that can fool retirees and pre-retirees into making bad financial moves. We’ll cover some of the most common myths that can damage your retirement plans and explain why they might not make much sense for you.
Is Social Security at risk of running out of money, and should you claim benefits as soon as possible? Is the 4% rule the best strategy for withdrawing from your retirement savings? Don’t let financial myths fool you- tune in to see what you can learn today!
Here’s what we discuss in this episode:
0:00 – Intro
2:11 – The danger of “guaranteed high returns”
4:06 – Claiming Social Security ASAP
5:43 – Set it and forget it retirement plans
7:01 – The 4% rule
8:44 – The fear of spending
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