Financial independence is the ultimate goal now. It’s the life that everyone wants, but it could just as easily get out of reach because of bad decisions. Knowing what those are is key to stopping the worse from happening.Are you committing one of the common financial mistakes that could ruin your retirement? Today, Bob and I reveal how you can avoid those and build a passive income stream.For our spotlight segment, Payne Capital Financial Advisor, Chris Payne, talks about how he helped a couple who was taking more risks than necessary.Make sure that your money doesn’t run out. Start planning and don’t miss this episode on the No Payne, No Gain podcast! Financial Propaganda of the Week This week so many articles were flying back and forth. We scoured through each one of them to pick out the ones worth talking about.[03:39] – The propaganda never ends. Even when the market has had a phenomenal week, the media still loves talking about the disconnect between the economy and the stock market.[04:50] – The market is smarter and ahead of us. It’s looking at 3-6 months in the future.[05:49] – We saw the fastest sell off ever in history because the market was ahead of the news.[06:23] – All the steep, panic-driven declines have one universal characteristic, they recovered, and the recovery happened before the news got better.[07:00] – Just this past February, we’ve had one of the best economies in history. Since its decline, the Federal Reserve has injected $9 trillion into the economy.[07:35] – The financial media is talking over and over again about another big letdown in the market. [08:03] – Don’t be stubborn by sitting on your cash when you’re not getting any return. Follow the money and put yours in risk assets just like what the government is doing.[08:35] – Prices are low, and there's a lot of attractive income you can build into your portfolio right now. Easy Ways to Ruin Your RetirementIf you’re not careful, you could end up making these mistakes that could lead to dire consequences later. Let’s go over them here:[12:24] – One example is treating retirement as a destination instead of a journey. Your life doesn’t end once you retire.  [13:24] – People retiring now are more active than the ones who retired 20-30 years ago. This means they need more money to do the things they’re doing.[14:44] –  The whole point of planning is that you get to do the fun things you couldn’t do when you were working, and still get to go back to a beautiful home and relax.[15:03] – Another mistake is assuming your monthly spending habits are going to be the same as when you’re working or less.[15:12] – People are living longer today and are getting more opportunities. Your expenses when you retire are going to be more. Your cost of living is the biggest thing that could ruin your retirement. [16:13] – Investing your money like you’re 35 when you’re already in your 50s or 60s is not a good idea. You shouldn’t have the same type of risk tolerance for when you were younger.[16:57] – You have to be prepared ahead of time. When you have a plan then you can let go and have fun.[17:48] – The upside always takes care of itself, but if you don’t have a downside plan, then it can wipe out your entire retirement. Reaching Financial Independence Retirement is great, but financial independence is better. Imagine that you can stop working tomorrow because you have the passive income to maintain your lifestyle. But how do you get that?[22:15] – It takes cash flow to have all the money to not be dependent on anybody, and do what you want to do despite what anyone thinks.[22:43] – The first place you start is an income needs analysis. Add things up to know what your budget is. [23:39] – Then do a portfolio assessment to see if your portfolio matches your income needs. Make sure you’re not taking more risks unnecessarily.[24:58] – There’s no yield in certificates of deposits (CDs). Get a plan now because things are going to cost more in the future. [26:05] – The