{"id":5429,"date":"2015-03-04T05:08:16","date_gmt":"2015-03-04T13:08:16","guid":{"rendered":"http:\/\/blog.paladinregistry.com\/?p=5429"},"modified":"2015-03-04T05:08:16","modified_gmt":"2015-03-04T13:08:16","slug":"2-critical-retirement-planning-mistakes-avoid","status":"publish","type":"post","link":"https:\/\/www.paladinregistry.com\/blog\/retirement\/2-critical-retirement-planning-mistakes-avoid\/","title":{"rendered":"2 Critical Retirement Planning Mistakes to Avoid"},"content":{"rendered":"<p><a href=\"http:\/\/blog.paladinregistry.com\/wp-content\/uploads\/2015\/02\/retirement-planning-mistakes.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"174\" class=\"alignleft size-medium wp-image-5433\" src=\"http:\/\/blog.paladinregistry.com\/wp-content\/uploads\/2015\/02\/retirement-planning-mistakes-300x174.jpg\" alt=\"retirement planning mistakes\" srcset=\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2015\/02\/retirement-planning-mistakes-300x174.jpg 300w, https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2015\/02\/retirement-planning-mistakes.jpg 620w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a>When <span style=\"color: #0000ff;\"><a href=\"http:\/\/www.paladinregistry.com\/retirement\/retirement-in-america\" target=\"_blank\"><span style=\"color: #0000ff;\">retirement planning<\/span><\/a><\/span> there are two important things to do to get it right.\u00a0 You are planning for what is basically a 30 year vacation.\u00a0 It requires a sense of urgency, dedication, and teamwork.<\/p>\n<p><em><strong>Avoid these mistakes and you are way ahead of the crowd:<\/strong><\/em><\/p>\n<p><strong>Mistake #1:<\/strong>\u00a0 Not have a clear understanding of what your lifestyle is costing you.\u00a0\u00a0 <span style=\"color: #0000ff;\"><a href=\"http:\/\/blog.paladinregistry.com\/investing-2\/need-budget-financial-plan\/\" target=\"_blank\"><span style=\"color: #0000ff;\">Budget\u2026yes, the dreaded \u201cB\u201d word<\/span><\/a><\/span>.\u00a0 You have to know what your current lifestyle is costing.\u00a0 This is important to ensure your retirement planning reflects the right amount.<\/p>\n<ul>\n<li>I have heard clients say, \u201cBut I make so much money, I don\u2019t need to do a budget.\u201d\u00a0 That is all fine and good, but if you are spending it all, it doesn\u2019t matter.\u00a0 We have seen many couples in our office that were making several hundred thousand and even in several cases, over a million a year in income that had not saved $100,000 towards retirement.\u00a0 If this sounds like you, grab your financial information and RUN to our office. You need help, FAST!\u00a0 \u00a0You may be making great money now, but be honest, you will probably want to stop working at some point\u2026maybe sooner than you think. Your good earning years are numbered. You need to get control of your budget and invest enough for retirement NOW!\u00a0 You need a financial advisor to help you reign in your spending and incorporate your goals into your budget. This takes a little time on your part, but necessary if you want to stop working before age 90.<\/li>\n<li>Your spouse is your critical retirement success ingredient.\u00a0 Without him or her, your plan is destined for failure and<\/li>\n<\/ul>\n<p><strong>Mistake #2<\/strong>:\u00a0 Not including and working with your spouse in the retirement planning discussions.<\/p>\n<ul>\n<li>To supercharge your retirement plans, a spouse that agrees and is working with you hand in hand is critical not just to your retirement success but also to your marital harmony.\u00a0 Money issues are the number one reason for divorce in America.<\/li>\n<li>We will often see one spouse show up for an initial meeting.\u00a0 Maybe the person showing up has realized they have problems, but the other spouse either doesn\u2019t care, or is oblivious.\u00a0\u00a0 In these cases, it is next to impossible to make progress.\u00a0\u00a0 Even if one spouse is following a plan, it doesn\u2019t matter if the other spouse is blowing the plan up at the same time.\u00a0 Working together ensures both spouses feel they are being heard, and that their goals and dreams are part of the plan.\u00a0\u00a0 One spouse may be completely stressed out about money issues, while the other doesn\u2019t have a care in the world about it.\u00a0 If this sounds like you, its time you both visited a financial advisor that works with couples in your situation.<\/li>\n<\/ul>\n<p><em><strong>To learn more about Timothy Brown, view his <span style=\"color: #0000ff;\"><a href=\"https:\/\/www.paladinregistry.com\/financial-advisor\/eden-prairie-minnesota\/Timothy.Brown\" target=\"_blank\"><span style=\"color: #0000ff;\">Paladin Registry profile<\/span><\/a><\/span>.<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When retirement planning there are two important things to do to get it right.\u00a0 You are planning for what is basically a 30 year vacation.\u00a0 It requires a sense of urgency, dedication, and teamwork. Avoid these mistakes and you are way ahead of the crowd: Mistake #1:\u00a0 Not have a clear understanding of what your lifestyle is costing you.\u00a0\u00a0 Budget\u2026yes, the dreaded \u201cB\u201d word.\u00a0 You have to know what your<\/p>\n","protected":false},"author":57,"featured_media":5433,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[117],"tags":[],"class_list":["post-5429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retirement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>2 Retirement Planning Mistakes to Avoid<\/title>\n<meta name=\"description\" content=\"Your retirement planning requires two important things to do right. What is basically a 30 year vacation needs a sense of urgency, dedication and teamwork.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.paladinregistry.com\/blog\/retirement\/2-critical-retirement-planning-mistakes-avoid\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2 Retirement Planning Mistakes to Avoid\" \/>\n<meta property=\"og:description\" content=\"Your retirement planning requires two important things to do right. What is basically a 30 year vacation needs a sense of urgency, dedication and teamwork.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.paladinregistry.com\/blog\/retirement\/2-critical-retirement-planning-mistakes-avoid\/\" \/>\n<meta property=\"og:site_name\" content=\"Paladin Registry Blog\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/BrownWealthManagementLlc\" \/>\n<meta property=\"article:published_time\" content=\"2015-03-04T13:08:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2015\/02\/retirement-planning-mistakes.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"620\" \/>\n\t<meta property=\"og:image:height\" content=\"360\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Timothy Brown\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@BrownWealthMgmt\" \/>\n<meta name=\"twitter:site\" content=\"@PaladinRegistry\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Timothy Brown\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/retirement\/2-critical-retirement-planning-mistakes-avoid\/\",\"url\":\"https:\/\/www.paladinregistry.com\/blog\/retirement\/2-critical-retirement-planning-mistakes-avoid\/\",\"name\":\"2 Retirement Planning Mistakes to Avoid\",\"isPartOf\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/retirement\/2-critical-retirement-planning-mistakes-avoid\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/retirement\/2-critical-retirement-planning-mistakes-avoid\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2015\/02\/retirement-planning-mistakes.jpg\",\"datePublished\":\"2015-03-04T13:08:16+00:00\",\"dateModified\":\"2015-03-04T13:08:16+00:00\",\"author\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/#\/schema\/person\/bcc02c78e759858e3ae0ad90db4f7c4e\"},\"description\":\"Your retirement planning requires two important things to do right. 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