Payne Points of Wealth

Payne Points of Wealth


Ep #13: 4 Mindsets That Can Slow Down Your Retirement Planning

August 22, 2019

Sometimes you just need to get out of your own way in order to keep moving forward. There are four common mindsets that hold investors back and we’ll discuss each of them. Plus, technology has opened up so many avenues for information, but sifting through the filler to find the fuel can be a challenge. We’ll give you some tips to help you stay more informed.Check out the full show notes by clicking here.----more----Today's rundown:1:12 – How can you be more informed?1:56 – It’s difficult to figure out what’s true when you’re listening to all the experts.  2:35 – A client stayed in cash for so long because he couldn’t figure out which way to go.3:03 – Financial propaganda is a real problem.4:21 – You might see these calculators online that allow you to punch in numbers but they aren’t always great.5:23 – You need someone that you can trust with your unique situation.7:00 – Your financial health is right up there after your physical health.10:08 – Let’s talk about the most common mindsets we see from clients and why they can be dangerous.10:18 – 1st mindset: Complacency  12:03 – 2nd mindset: Overconfidence13:30 – 3rd mindset: Fear15:12 – 4th mindset: Cynicism19:23 – Mailbag time20:05 – Question from Jimmy: I’ve been taking about 8% per year out of my portfolio because I don’t anticipate living past 75. Is this a bad idea?22:44 – Question from Christine: I was under the impression I wouldn’t pay taxes on Social Security, but I was wrong. Why are the taxes different for each person?