PODCAST EPISODE 143: TOP 100 MISTAKES, PART 1

EPISODE SUMMARY

In this episode of Your Business, Your Wealth, Paul and Cory break down the top one hundred mistakes to avoid to help get your finances in order. Breaking this down into four segments, the first twenty-five mistakes cover a variety of topics from the importance of building an emergency fund to how much money to invest in a 401(k). They talk about financial strategies, investing and taking ownership of your financial well-being. Finally, Cory and Paul identify common misconceptions about finance in order to provide a roadmap to a healthy financial future.

WHAT WAS COVERED

  • 01:25 – Today’s topic: Top 100 Personal Financial Mistakes To Avoid
  • 03:11 – Number 1: Own less than one million dollars in umbrella insurance
  • 04:22 – Number 2: Not having pictures of your home’s contents
  • 05:17 – Number 3: Not building an emergency fund
  • 06:22 – Number 4: No spending plan
  • 07:40 – Number 5: Not making a first day of the month bill that is your commitment to investment
  • 09:06 – Number 6: Only saving what is left after you’ve spent
  • 10:34 – Number 7: Have no disability insurance
  • 11:41 – Number 8: Have group disability insurance only
  • 13:01 – Number 9: Confusing your emergency fund with money that can buy assets
  • 14:26 – Number 10: Save less than fifteen percent of income
  • 15:37 – Paul announces a special giveaway to those who leave a podcast review
  • 16:09 – Number 11: Financing anything beyond its likely serviceable lifetime
  • 17:26 – Number 12: Carry credit card debt
  • 18:46 – Number 13: Pay off credit card debt without saving
  • 19:49 – Number 14: Pay off debt with money that should own assets
  • 21:03 – Cory interrupts the podcast to provide the audience with a special offer
  • 23:01 – Number 15: Thinking you can time the market
  • 24:01 – Number 16: Think someone else can time the market
  • 25:10 – Number 17: Trust others with your financial decisions
  • 26:21 – Number 18: Not having a financial strategy
  • 27:27 – Number 19: Not investing
  • 28:35 – Number 20: Not building a team of counselors
  • 29:43 – Number 21: Max out your 401(k) too early in life
  • 31:05 – Number 22: Make your 401(k) your only savings and investment vehicle
  • 32:33 – Number 23: Take too much risk when you are young
  • 33:41 – Number 24: Take too little risk when you are old
  • 34:58 – Number 25: Not reading at least a few financial books a year

TWEETABLES

LINKS

Sound Financial Group’s Website for a Financial Inquiry Call – Info@sfgwa.com (Inquiry in the subject)

Sound Financial Group on Facebook

Sound Financial Group on LinkedIn

Cape Not Required (Cory’s Book)

Sound Financial Advice (Paul’s Book)

Clockwork

Mike Michalowicz’s Book

SHARE THE SHOW

Did you enjoy the show? We would love it if you subscribed today and left us a 5-star review!

Click this link – Your Business Your Wealth

Click on the ‘Subscribe’ button below the artwork

Go to the ‘Ratings and Reviews’ section

Click on ‘Write a Review’

MUSIC CREDITS

“Legends Are Made” Copyright 2017. Music, arrangement and lyrics by Sam Tinnesz, Savage Youth Music Publishing SESAC and Matt Bronleewe, UNSECRET Songs SESAC

ATTACHMENTS

PRODUCTION CREDITS

Podcast production and marketing by FullCast

Recorded using Switcher Studio: sales@switcherstudio.com