The year may not have started well, but there’s still the future to plan for. Are you looking at everything under the sun and making sure you’re still on track to building up your financial life? Today, Bob and I talk about the core principles of making money. Have you been making any of the 4 biggest financial mistakes of 2020? We also take a look at the 5 main areas you should focus on right now.For our spotlight segment, Payne Capital Financial Advisor, Aaron Dessen tells us how he helped a couple go back into the market and increase their annual income by $25,000.This is another phenomenal episode for our listeners. Don’t miss out by tuning in now to the No Payne, No Gain podcast! Financial Propaganda of the Week It’s time to call out those articles that are so egregious we just have to put them in the hot seat. Here’s what we’ve heard:[03:50] – The perma bears seem to have forgotten that Warren Buffett owns billions of dollars in stocks. The sale of his airline stocks did not mean he’s out of the market.[05:27] – Just because market prices are going down doesn’t mean it will continue to go down.[06:26] – The financial media channels didn’t predict that the market would go down, so they don’t know what’s going to happen next.[07:07] – Investing is not about buying low and selling high. It’s about achieving goals.[07:39] – The economy and the stock market are not the same thing. The economy is what’s happening right now. The market is already looking past the recession.[09:08] – The negative things being reported are not permanent. The market is looking at when things get back to normal. So don’t make decisions based on the current news.  Biggest Financial Mistakes of 2020There might be so much uncertainty going on, but that doesn’t mean you should do nothing. Doing nothing can be the worst decision you make. Which is why we want to talk about the bad decisions you should avoid doing this year.[12:48] – The number one mistake is when you stop putting money in your 401(k). [13:03] – The point of having a game plan is you stick to it when things get chaotic. Keep on buying and dollar-cost averaging. [14:04] – Another mistake is postponing getting your finances in order because we’re under a pandemic. Things may be different, but you still need a plan to reach your dreams and goals.[14:37] – The third mistake is deciding to just postpone your retirement. When things are down, it’s the best time to audit and reevaluate your goals and make better decisions.[15:43] – Your accounts might be down, but your spending is probably down too.[16:31] – Financial independence is better than retirement. It’s a great feeling when you know that you’re set for life. [17:54] – Don’t throw away or shred your statements because you don’t want to look at them. There are proper steps that you can make right now.  5 Main Financial Events To Address NowThe Tokyo Summer Olympics may have been postponed, but we can have our own financial planning Olympics. When it comes to your financial plan, there are financial events that you should be addressing. Let’s go over them now.[22:45] – The inflation marathon can be nasty. Don’t forget to factor in that everything is going to cost more in the future. Worse is healthcare. Healthcare inflation is off the charts.[24:01] – Another event you should be mindful of are recession hurdles. You can’t run through a recession, but you can hurdle over it with proper planning. Always assume that the sky will fall and make sure you have protection in place in your portfolio.[25:56] – The next event is the hidden fee toss. Wall Street and the insurance industry are masters of hidden fees. Even with annuities or mutual funds, there could be a lot of fees that you didn’t know you were paying for.[27:39] – You really need to understand what you own, what the expenses are, why you own it, and how it works. [28:04] – Synchronized planning is the next event. It’s when you make sure that you have an income game plan, investment g