This is the Lightning Round, a weekly segment of the show where we answer questions from texts, emails, and meetings with people wanting to reach their retirement dreams.
In today's clip from the show we feature three questions from our listeners!
Sherri Is Wanting Money Tips For The Christmas (Shopping) Season
Begin Listening at 1:04
The biggest thing I can say to reducing your stress is start early and spread out the spending. It's September, go ahead and knock out some gifts and worry.
The second point of advice I'll share is around cutting down your list. Is it really necessary for every niece, nephew, brother-in-law and co-worker to receive a Christmas gift from you? I'm not trying to be a Grinch, but consider larger gift exchanges or picking names. There are ways you can consolidate the number of gifts you have to buy without leaving anyone off.
Finally, this one is HUGE if your a parent Sherri, it's how me and my wife started just last year handling the gifts that our kids give us!
Merry Christmas shopping!
Will Wants To Avoid A Common Financial Mistake
Begin Listening at 3:11
This is a common question and even one I've been asked as an ice breaker at parties -- so, what is the most common mistake you see in regards to financial planning?
From my experience, people most often are taking too much risk. They're exposed in ways that isn't necessary and don't realize there are safer options with similar benefit.
A lot of people are chasing the high return, but don't fully understand the big danger when being so aggressive. Or equally a mistake, they are forced to often miss big growth opportunities when the market changes.
Fred Asks About Pulling Cash Out and Being On The Market Bubble
Begin Listening at 5:28
It all depends on your risk tolerance. The greatest opportunity for growth is right after the market drops.
The bet way to get explosive growth is to stay as long as you can be confident you're invested correctly.