Are You Making These 5 Common Retirement Mistakes?
Retirement Talk Podcast with Laura Stover
English - August 30, 2023 12:00 - 30 minutes - 42.2 MB - ★★★★ - 38 ratingsInvesting Business 401k financial money ohio retirement business investtalk laura lifestyle moneymanagement Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Investors often underestimate the risk in their portfolio. Today, Laura Stover and Michael Wallin break down 5 common portfolio mistakes, as outlined by Christine Benz in Morningstar. They are portfolio sprawl, when your assets often overlap and have too high a correlation A redundant individual stock portfolio can be risky as well. For example, if you are overly weighted in tech stocks, what happens if there is a chip shortage?
Other risks include also-ran mutual funds, asset allocation not formed by the plan, and suboptimal asset allocation. It is crucially important to develop a plan that works for your individual situation, and stick to it. This includes modifying your portfolio when necessary.
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Rate, Review and Subscribe to the Podcast:
https://podcasts.apple.com/us/podcast/retirement-talk-podcast-with-laura-stover/id571347188
How to Connect:
Schedule a Review: https://redefiningwealth.info/schedule/
Timestamps (show notes):
0:00:49 Discussion on common portfolio mistakes
0:02:05 Portfolio sprawl and the importance of diversification
0:03:41 Redundant individual stock portfolios and the risks involved
0:05:59 The drawbacks of relying too heavily on mutual funds
0:07:51 The benefits of diversification and asset allocation
0:12:31 The impact of suboptimal asset location on taxes
0:18:39 The importance of dividing assets into income and growth
0:19:16 The need for a comprehensive retirement plan
0:26:45 The importance of tax alpha in retirement portfolios