The Biggest Retirement Planning Mistake High-Income Earners in Their 40s Make — And How to Avoid It

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Avoiding Hidden Retirement Planning Pitfalls in Your Forties

In this episode of The Retire Early Retire Now podcast, host Hunter Kelly, a certified financial planner and founder of Palm Valley Wealth Management, discusses common mistakes high income earners in their forties make while planning for retirement. Kelly provides a step-by-step guide on estimating your retirement needs using simple rule-of-thumb math. He emphasizes the importance of considering not just regular expenses but also large, one-off expenditures like travel, homes, and weddings. The episode also highlights the advantages of working with a financial advisor to identify and plan for potential blind spots, ensuring a well-rounded and achievable retirement strategy. By understanding trade-offs and making intentional decisions, listeners can better align their retirement plans with their values and goals.

00:00 Welcome to The Retire Early Retire Now Podcast
00:27 The Biggest Mistake High Income Earners Make
02:01 Estimating Your Retirement Number
05:11 Beyond the Numbers: Planning for Life's Complexities
07:31 The Importance of Accounting for Big Ticket Items
10:36 Making Intentional Financial Decisions
14:26 How Palm Valley Wealth Management Can Help
15:50 Conclusion and Final Thoughts

Check out the Palm Valley Wealth Management Website
PalmValleywm.com

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