The 5 Biggest Retirement Concerns I Hear

The number one concern we see from this crowd is they say is, "I don't know what I don't know." Oftentimes we see that your situation is gonna be more advanced.

We often see that you're gonna have more planning opportunities and strategies.

It's not necessarily a cookie cutter approach.

It's, it's very complex when you have a high income and a high net worth in retirement.

You're gonna have different things that apply to you that may not apply to your peers.

And so oftentimes, I mentioned earlier, people get to this point and they never studied financial planning.

They're not a certified financial planner.

They didn't take a seven-hour test to pass and, and, and hold that credential.

Um, they don't have the focus of looking at this stuff for hours and hours and hours every day.

They may have never planned a retirement [laughs] before.

Their retirement may be their only one that they've planned.

I often tell this story that if you were to go to an advisor and they had never done a retirement plan before, and you went to them for their first time, and they said, "Hey, I'll do this for you for free," would you trust that person with your entire retirement and life savings? It's free.

Would you say, "Hey, whatever you say I'm gonna do"? Maybe they have good advice, but personally, I don't know if I trust that.

I wanna work with a team who's worked with thousands of people in my exact situation to make sure I don't make any silly mistakes because, again, it comes back to the concern that many people have is, I don't know what I don't know.

And so we'll talk about how to be able to come over this, uh, in, in point number five.

But more than anything, make sure you get help from a trusted team that can help fill the gaps to make sure you're not worried about this.

If you do really wanna take this on from a DIY approach, we get a lot of people watch this channel have been DIY, and a lot of those people reach out to us and say, "Hey, I'm looking for a team because I don't wanna do this on my own [laughs] anymore." And so if that's you, find that team, make sure you're getting everything set.

But if you say, "Hey, I love this.

I enjoy it.

I wanna keep doing it," my biggest advice for you is to make sure you study, study, study, study, study.

Rules change every day.

You wanna make sure you're staying on top of tax code changes.

You wanna make sure you're looking at your investments using a very data-driven approach.

We know Vanguard has a study that says working with a professional investment management team typically does 1 to 3% better from really being hands-on there and making sure everything's aligned the right way.

So highly encourage you to spend a lot of time on that, and it may be more time than you wanna spend, so just look into that.