Episode #7: Asking Wrong Financial Questions

Many people ask wrong financial questions. They get caught up in the minutia rather than focusing on the larger vision for their retirement. Sean explains.

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The View From The Pinnacle

Many people ask wrong financial questions. They get caught up in the minutia rather than focusing on the larger vision for their retirement. Sean explains.

First Things First…

[00:43] – A recent Wall Street Journal article links a rise in dinner seminar events to the end of the fiduciary rule. 

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

[4:20] – “How much should I have saved in order to retire?” is the wrong question to be asking. However, many brokerage houses and financial institutions tend to advertise that thinking.  Instead of focusing on your “big” number, examine how much income you’ll need in retirement.  

[7:23] – Many folks ask whether they should get long-term care insurance or roll the dice. However, there are actually other options to examine when thinking about future healthcare costs. 

[10:07] – Stop asking yourself wrong questions on how to get the highest return on your money. Remember the famous Will Rogers quote:

I am more concerned with the return of my money than the return on my money.

– Will Rogers

11:48 – Folks spend a lot of time worrying about the fees associated with their financial advice. In reality, if you want low-cost advice, work with a robo-advisor. Remember, to an extent, you get what you pay for. Holistic financial advice might be a bit more expensive, but it will ultimately strengthen your financial health.  

13:30 – Everyone wants to find ways to alleviate their immediate tax burden, and tax planning is an important part of financial planning. However, you need to be forward thinking when it comes to tax planning. Stop fixating on the previous year, and instead, focus on the future. 

Looking Back From The Mountaintop

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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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