When it comes to planning for retirement, there's no shortage of advice out there. Unfortunately, much of it can be misleading or only half-true. That can be a problem for investors because they end up following guidance that doesn’t apply to their situation. Today we continue our two-part discussion on these potentially misleading statements by shedding light on some of the most common retirement half-truths and explain why they might not tell the whole story.

Here’s what we discuss in this episode:

• Half-truth #6: You should withdraw 4% annually from your retirement savings.
• Half-truth #7: Saving just enough to match your employer’s 401(k) contribution is sufficient.
• Half-truth #8: You don’t need a retirement plan if you plan to work throughout retirement.
• Half-truth #9: Medicare will take care of all your healthcare needs after retirement.
• Half-truth #10: Social Security will cover your basic expenses in retirement.

Learn more: https://caffeinecashflow.com/

Get in touch with Michael-

Web: https://www.westpacwealth.com/team/michael-schulte

Email: michael.schulte@westpacwealth.com

Phone: 702-767-4897

We hear a lot of half-truths in the financial world, not necessarily because people try to make misleading statements, but because sometimes a simple statement just doesn’t quite tell the whole story.

Join us for part one of this discussion as we cover common misconceptions about market losses, portfolio fees, mortgage interest, diversification, and bonds. We’ll provide insights on why these half-truths can be misleading and how to navigate them for better financial planning.

Here’s what we discuss in this episode:

• Half-truth #1: The market always goes up in the long run, so don’t worry about individual losses.
• Half-truth #2: The fees in your portfolio are less than 1 percent.
• Half-truth #3: If you have a low interest mortgage, you’re better off investing than paying off the house early.
• Half-truth #4: Diversification is THE key to investing.
• Half-truth #5: Bonds will significantly reduce the risk in your portfolio.

Data referenced in this article:

https://interactfa.com/the-index-matrix-app/

https://www.upmyinterest.com/bloomberg-us-aggregate-bonds/

Learn more: https://caffeinecashflow.com/

Get in touch with Michael-

Web: https://www.westpacwealth.com/team/michael-schulte

Email: michael.schulte@westpacwealth.com

Phone: 702-767-4897

Paying for college has become increasingly harder with rising costs. Starting early for your child's or grandchild's education can make a big difference and reduce the need for excessive borrowing later. In this two-part series, we’ll cover the key aspects of college financial planning from both the parent and grandparent perspectives.

Part one broke down the costs associated with college, how much they’ve risen, and how to determine if the value is worth it over time. Now we’re focused on the strategies for saving money to cover rising tuition costs, determining who should pay for college, and the various tools available for funding education.

Here’s some of what we discuss in this episode:

• How much and how early should you be saving?
• What are the best savings vehicles or accounts for college savings?
• Should you risk your own retirement to help fund your child’s education?

Learn more: https://caffeinecashflow.com/

Get in touch with Michael-

Web: https://www.westpacwealth.com/team/michael-schulte

Email: michael.schulte@westpacwealth.com

Phone: 702-767-4897