In this episode, we delve into the world of finance, discussing common financial mistakes and even some unconventional ways to deal with weeds in your garden. We start by examining the financial blunders one expert confessed to, including not setting up a Roth IRA, neglecting long-term care insurance, and paying off low-interest mortgages early. Steve provides insights into each of these topics, shedding light on the potential pitfalls and benefits of various financial decisions.
Steve also shares his personal experiences with investing and highlights the importance of understanding your investments’ long-term goals rather than chasing quick gains. He introduces the concept of “need, not greed,” emphasizing that your investment strategy should align with your financial goals and risk tolerance.
Additionally, we explore the overlooked aspect of 401(k) plans. If you’re 59 ½ or older, you might have more options than you realize to optimize your 401(k). Learn about the benefits of rolling over your 401(k) into an IRA and how it can provide you with more flexibility and control over your retirement savings.
Tune in with Steve Aul for “The Aul Financial Hour” every Saturday at 10 a.m. on KMOX News Radio 1120!