Ep 34: The Incomplete Financial Plan - Don't Let Gaps Threaten Your Financial Security

Wisdom & Wealth: Financial Clarity For Families in Transition

Are you confident that your financial plan is complete? Many people believe they have a solid plan in place, only to realize later that they've missed important areas. From not accounting for long-term care expenses to overlooking the impact of taxes on retirement income, there are many ways a financial plan can be incomplete.

On this episode, we'll be pointing out the most common areas people overlook when planning and provide actionable tips to ensure that your plan is as comprehensive as possible.

Here’s some of what we’ll discuss in this episode:

• Donna addresses the danger posed by a market downturn early on in your retirement. (2:17)
• Most Americans don’t realize they have a tremendous opportunity to save money on taxes as they approach retirement. And if you factor in that taxes might go up in the future it highlights why this is often one of the biggest missing pieces in the average retirement plan. (7:42)
• Another overlooked area of planning is when people underestimate the likelihood they’ll have a long-term care need when they get older. (11:00)
• Donna underscores why it’s important to have a living and breathing financial plan and not one that you just set and forget. (15:10)

Listen to the full episode to also learn about inflation, the dangers of rising medical costs, the challenges presented by RMDs, how to handle unexpected job losses and more…

If you are interested in any of the topics we discussed, please reach out and we would be happy to help you navigate your financial situation.

Get additional financial information: https://sephtonfinancial.com/podcasts/