How to Avoid 5 Critical Financial Mistakes Using myMoneyGuide®Submitted by Reby Advisors | Certified Financial Planners | Danbury, CT on March 1st, 2018
To read the case study referenced in the video, follow this link here: http://www.rebyadvisors.com/blog/early-retirement-success-stories
Remember, while myMoneyGuide® software is a powerful tool for high-level planning and analysis, it's not a substitute for professional advice from a fiduciary financial planner who understands your situation and can provide more specific recommendations: a custom portfolio, withdrawal strategies, healthcare strategies, estate planning, and tax minimization, to name just a few.
For complimentary access to myMoneyGuide software, follow the link below:
(If you're a client, we’ve likely already worked with you on many of the issues discussed in the video. Of course, if you have any questions or would like access for yourself or a friend, do not hesitate to reach out.)
So, why would you use myMoneyGuide software to create a financial plan?
Most important, it can help you avoid costly planning mistakes that cause people to run out of money. Here are 5 of those mistakes:
Number 1 – Not stress testing your assets against market crashes, rising prices and taxes. A downturn early in retirement can ruin your lifestyle if you’re not prepared.
Number 2 – Spending too much. In our case study, Kevin and Julia reduced expenses by just 8% to dramatically improve their probability of success.
Number 3 – Not prioritizing goals. Categorizing goals into needs, wants, and wishes helped Kevin and Julia pay for private school tuition and still retire on time.
Number 4 – Claiming Social Security at the wrong time. Discover the impact of claiming sooner versus later. The later you wait, the higher your monthly guaranteed income.
Number 5 – Retiring before you’re ready. Within myMoneyGuide you can easily adjust your savings, investment strategy, and retirement date until you have a plan you’re confident in.
In short, myMoneyGuide is a fun, easy way to create a retirement plan from the comfort of home, within 30 minutes.
If you’re not a Reby Advisors client and would like to use myMoneyGuide, contact us today to request complimentary access.
If you are a client, we’ve likely worked through these issues with you already. Of course, if you have any questions or would like access for yourself or a friend, do not hesitate to reach out.
Thanks for watching, and have a great day.