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Apr 8, 2021

Have you ever regretted something you’ve done in your life? We’re all human, and that means we’ve likely wished things would have been done differently at one time or another.

Today, we thought we’d talk about financial statements people would regret. Thankfully, these are things you won’t hear around our office and Nancy Fleming will explain why on this episode of My Smart Retirement.

The first one deals with putting money into a Roth IRA. Doing so over the course of your life isn’t something you’re going to regret. That’s simply not something people say because it’s the key to funding retirement. Delaying gratitude to later in life is how you enjoy the lifestyle of your choosing. Plus, the Roth allows you to enjoy tax-free withdrawals, which is always a great benefit. This goes along with saving in general because you’ll never look back and wish you saved less and spent more.

When you’re thinking about whether life insurance is worth the investment, consider that you’ll never hear someone tell you they felt insulted when their spouse left them a large life insurance payment. Knowing that a loved one is taken care of provides comfort and life insurance helps accomplish this. It might not be for everyone, but no one will be upset they received money because of your careful planning.

The next item we talk about on the show is taxes. We won’t hear people talk about how patriotic they felt paying more in taxes than they had to. Our goal is to help you keep as much of your money as possible and that’s accomplished through tax planning. Then you have the option to use that extra money how you see fit and giving back might be the goal. But let’s make sure you do it on your own terms.


Another statement we’ll touch on is a love for market corrections. Who would ever say 2008 was a lot of fun? Or what about what we saw in the first and second quarter of 2020? While you might not enjoy seeing all that volatility in your retirement accounts, there are different strategies that can eliminate that worry and keep you from getting anxious during the roller coaster ride that the market can be.

We’ll have a few more statements that we’ll share during the episode, and we’re happy to discuss any of these financial planning topics further. Feel free to reach out and set up an meeting and make sure your future is on track.

Check out the full episode or use the timestamps below to hear a specific segment.

1:32 – I really regret putting money into my Roth IRA every year.

3:01 – I should have spent more and saved less over the years.

5:12 – Life insurance payment I got was insulting.

7:11 – It makes me feel patriotic to pay more in taxes than I have to.

10:32 – I love big market corrections.

13:05 – It’s okay that I have hidden fees and don’t know about them.

14:48 – I really like a cookie-cutter approach to planning.