Retirement planning requires that we make a lot of assumptions about the future. From all of these assumptions and other data, most software spits out a "Chance of Success." That number can make the future appear more certain than it is. In fact, many people make some big mistakes with their retirement plans.
In this video we'll look at 9 of those big mistakes and how to avoid them.
New Retirement: https://go.robberger.com/new-retirement
FICalc: https://ficalc.app/
Longevity Data: https://www.capitalgroup.com/advisor/insights/articles/ir-retirement-longevity.html
Longevity Data: https://www.ebri.org/docs/default-source/rcs/2024-rcs/2024-rcs-release-report.pdf?sfvrsn=2447072f_1
Assisted Living Costs: https://www.seniorliving.org/assisted-living/costs/
Returns by Asset Allocation: https://investor.vanguard.com/investor-resources-education/education/model-portfolio-allocation
Long Term Care Data: https://www.northwesternmutual.com/life-and-money/how-long-does-the-average-person-need-long-term-care/
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*Financial tools I use:*
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*My budgeting tool of choice is Tiller. It downloads all your banking data to Excel or Google Sheets:*
https://robberger.com/tiller
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ABOUT ME
While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. Today I'm the Deputy Editor of Forbes Advisor, managing a growing team of editors and writers that produce content to help readers make the most of their money.
I'm also the author of Retire Before Mom and Dad--The Simple Numbers Behind a Lifetime of Financial Freedom (https://amzn.to/3by10EE)
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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. Your investment and other financial decisions are solely your responsibility. It is imperative that you conduct your own research and seek professional advice as necessary. I am merely sharing my opinions.
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