This video discusses 10 unexpected ways people actually destroy their retirement savings before and during retirement. You may have seen a few of these, but many will come as a surprise if you are like most people. The purpose of this video is to raise awareness of these unexpected events so that you don't fall prey to something you don't see coming until it's too late.
Index 00:00 Introduction 00:40 How People Lose Their Money in Retirement 01:11 Asset Acquisition vs Asset Consumption in Retirement 02:48 Why People Finance Big Purchases on Their Credit Card in Retirement 03:53 Should You Eat Out or Eat at Home in Retirement 04:37 What to Do When Couples Disagree on Retirement Goals and Lifestyle 05:04 Why People Underestimate Their Financial Needs in Retirement 05:57 The Reality of Long Term Care Insurance 06:46 Why You Need to Speak With a Financial Advisor ASAP! 07:25 What Happens When You Don't Change Your Money Habits When You Retire 08:02 What Happens When Retirees Fall for a Financial Scam?!? 10:52 Why It's a Mistake to Not Consider Taxes When Planning Retirement
Disclaimer: this video is for educational and entertainment purposes only and is not meant to be a substitute for legal, accounting, tax, or professional advice. If you have any specific questions about any legal, accounting, tax or other professional service matter you should consult the appropriate professional services provider.
