Episode 100: What Are the Top 3 Pieces of Financial Advice?
Have your question answered on the Money Wisdom Question Series!
In honor of the 100th episode of the Money Wisdom Question Series, Joel Johnson, CFP® gets into the answers to top questions we’ve gotten over the years.
Today’s question is: what are the top three pieces of financial advice?
First of all, you want to take care of yourself. We have seen so many people come in for financial advice that have taken care of their kids, their grandkids, and everybody else. Then, when they get into retirement, they find themselves running out of money or not having the type of lifestyle they want because they’ve helped other people too much. That sounds counterintuitive but take care of yourself first.
The second thing is you want to sit down and write a financial plan with somebody that you can trust and have that person monitor that plan. It’s really important that you work, as a team, with a fiduciary financial planner that has the wisdom of helping other clients walk from the point of retirement all the way to their passing. So, it’s important that you find that team member.
Lastly, have the most flexibility and control over your plan. Make sure that you or your financial advisor is in control of that plan. Make sure somebody else isn’t in control, like maybe a former employer when you have money in a 401(k) or so on.
Those are the top three pieces of financial advice that I would give you today based on so many questions that we’ve gotten from you, our audience.
Information presented in our podcasts is considered current as of the created date. Over time, some information presented may become stale. We recommend you consult with your Financial Professional before making any changes based on information contained here.
Johnson Brunetti is a marketing name for the businesses of JB Capital and JN Financial.
Investment Advisory Services offered through JB Capital, LLC. Insurance Products offered through JN Financial, LLC.
The guarantees provided by any type of insurance contract are based on the claims-paying ability of the insurance company.
Related Resources
-
What Habits Should I Unlearn Before I Retire?
Today’s insightful question explores the behavioral finance side of retirement planning – specifically, which financial habits you should leave in the rearview as you transition into retirement. … -
How Can You Understand and Improve Your Credit Score?
In retirement, your credit score is still relevant in achieving and maintaining financial independence. The question is, how can you best understand and improve your score to reap the benefits of … -
Should I Consolidate My Multiple 401(k) Accounts?
If you’ve contributed to multiple 401(k) or other employer sponsored plans over the years, you may be wondering about today’s question, is it time to roll your old accounts into an IRA? In this we… -
When Should I Consider Borrowing Against My Assets?
Welcome back to the Money Wisdom Question Series. Today’s question is, when would it be beneficial to borrow against my assets? While there are ways to borrow against assets such as a vehicle, we’… -
How Do I Avoid Tax Bracket Creep?
Today’s question is central for anyone who wants to avoid an unpleasant surprise come tax season: what can I do to prevent tax bracket creep? Jake Doser, CFP®, CPWA® joins the Money Wisdom Questio… -
What Are My Options for Long-Term Care Coverage?
Today’s question is particularly fitting for Long-Term Care Awareness Month: what are my options for long-term care coverage? Heath Grossman, CFP® joins this week’s Money Wisdom Question Series to… -
My Financial Advisor Retired – Now What?
So much in life can take us by surprise, including today’s question: “my advisor has retired—what should I do now?” You might be asking yourself who you can rely on for support in this next chapte… -
Podcast Episode 387: Should Target Date Funds Be in Your Portfolio?
Investors will often use target date funds in a retirement account because they’re easy to use and align with the goal of retiring at a certain time. Is it really that simple or can you find alter… -
How Do I Break Up with My Financial Advisor?
Today’s question is an interesting one, how do I break up with my financial advisor? Nicholas J. Colantuono, CFP® joins the Money Wisdom Question Series to share his thoughts about how important t… -
When Should I Meet With a Financial Advisor?
In today’s complex financial landscape, understanding when to meet with a financial advisor is crucial for achieving your long-term goals. We often hear this question, and the answer can vary base…
