April Fool’s: Beliefs That Fool Retirement Savers The Most

April Fool’s Day is all about jokes and pranks, but when it comes to retirement planning, getting fooled can cost you real money. Today, we’re uncovering the beliefs that fool retirees and pre-retirees into making bad financial moves. We’ll cover some of the most common myths that can derail your retirement plans and explain why they might not be as true as they seem.

Should you really claim Social Security as soon as possible? Will Medicare cover all your healthcare costs? Don’t let financial myths fool you- tune in and take control of your retirement!

For this week’s Kingdom Minute, Wade shares some biblical wisdom from Proverbs on diligence, avoiding debt, and thoughtful investing.

Here are the myths we cover in today’s episode:

• “Guaranteed” high returns are easy to achieve
• Social Security is going away and you should claim it ASAP
• Underestimating how taxes can impact your retirement income
• The misunderstanding that Medicare will cover all healthcare costs
• The idea of the 'set it and forget it' retirement plan
• The misconception that retirees should be overly frugal
• The “I can just keep on working” fallacy

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/ 

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.