5 Ways We Sabotage Our Own Retirement

With all of the things in the financial world that you can’t control, why would you sabotage your own retirement by messing up the things you can control? Let’s discuss some ways that people sabotage their own financial health.

The View From The Pinnacle

Click the timestamps below to fast forward to certain points of the episode.

Thing’s You’ll Learn Along Today’s Journey

Retirement planning requires discipline and patience but we aren’t always able to stick to the steps as they were designed. Sometimes we react emotionally or we fail to give a part of the plan our full attention.

These self-inflicted mistakes can damage our portfolio and prevent us from reaching our goals in retirement. Today on the Retirement Elevated podcast, Sean Lee shares the common ways people sabotage their retirement plans. Each of these items are within our control but they are also easy to mishandle.

Let’s bring all of these things to the forefront and help you plan accordingly. One of our favorite parts of the job is helping develop a plan that allows people to retire on time or earlier than anticipated, and this episode can help you get there.

You can listen to the entire podcast above or click on the timestamps below to check out a specific item.

0:28 – We’re talking about sabotaging our own retirement today.

0:58 – The market continues to be very volatile in 2019.

1:58 – The first way we sabotage ourselves is getting to obsessed with the ups and downs of the market.

3:24 – Sometimes people have a plan but aren’t too confident in it if they are obsessing.

4:35 – Another way we self-sabotage is Social Security.

6:25 – The next way we sabotage is by pretending long-term care won’t affect us until much later in life.

8:40 – We can sabotage our retirement when we assume we’ll always like our job because we enjoy it now.

10:08 – One of our favorite parts of the job is developing a strategy that allows clients to retire a little earlier.

11:42 – The last way is by not identifying how we want to live in retirement so that we can figure out how to maintain our lifestyle.

Looking Back From The Mountaintop

Look at Social Security as a tool, nothing more than that. You just have to figure out what the right strategy is for you. Don’t listen to the noise. -Sean Lee

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MEET YOUR HOST...

For over a decade, Sean Lee has helped families reach and maintain their financial goals. As a trusted advisor, he coaches and assists his clients with their financial goals by focusing on the fundamentals and takes a practical and personal approach when working with them.

As a trusted professional in Utah, Sean has been featured in The Wall Street Journal’s Market Watch, The Deseret News, The Salt Lake Tribune and USA Today. He has also been featured as a local financial advisor on Utah’s NBC station, KSL 5.

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