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 fourth set of twenty-five mistakes cover a variety of topics from distinguishing between a 529 Plan and a college funding plan to the importance of keeping an up-to-date will. They talk about solving for the future state and understanding that you are the fiduciary for your future self. Finally, Paul and Cory share a special bonus piece of advice. They advocate for listeners to make decisions on this list only after consulting with a financial coach or advisor.


  • 01:17 – Today’s topic: Top 100 Personal Financial Mistakes To Avoid, Part Four
  • 02:01 – Paul and Cory recap the latest episode with Scott Adams
  • 05:19 – Number Seventy-Six: Keep people in your friendship circle that you can’t talk to about your career and financial goals
  • 07:13 – Number Seventy-Seven: Not talk to your kids about money
  • 08:34 – Number Seventy-Eight: Not giving charitably
  • 09:52 – Number Seventy-Nine: Not having all of your important documents stored virtually and encrypted
  • 11:08 – Number Eighty: Not being academically allocated and globally diversified
  • 13:14 – Number Eighty-One: Conflating a 529 Plan with a college funding plan
  • 14:24 – Number Eighty-Two: Not being committed to becoming financially independent
  • 16:16 – Number Eighty-Three: Not knowing the rule around four percent distribution
  • 17:35 – Number Eighty-Four: Not solving for the future state
  • 18:46 – Number Eighty-Five: Not thinking about your future self as someone you have to be a fiduciary for
  • 21:26 – Paul interrupts the podcast to provide the audience with a special offer
  • 22:42 – Number Eighty-Six: Not having a written future state with your spouse
  • 24:10 – Number Eighty-Seven: Overestimate the value of real estate on your balance sheet
  • 25:20 – Number Eighty-Eight: Overestimate the value of any asset on your balance sheet
  • 28:34 – Number Eighty-Nine: Think that 100% of your 401(k) or IRA is yours
  • 29:45 – Number Ninety: Think your business balance sheet matters for retirement
  • 31:13 – Number Ninety-One: Not knowing your monthly cash burn
  • 32:49 – Number Ninety-Two: Spending money for prideful purposes
  • 34:33 – Number Ninety-Three: Not having a will or trust
  • 35:53 – Number Ninety-Four: Counting on a robo-advisor for the success of your finances
  • 37:29 – Number Ninety-Five: Not having your will or trust up-to-date
  • 38:50 – Number Ninety-Six: Care too much about tax savings
  • 40:51 – Number Ninety-Seven: Not understanding your investment decisions
  • 42:45 – Number Ninety-Eight: Not watching fees
  • 45:13 – Number Ninety-Nine: Not realizing that your time and your future income are your most important assets
  • 46:32 – Number One Hundred: Not owning long-term care insurance
  • 49:18 – Paul and Cory remind listeners to provide their feedback and leave a review
  • 50:35 – Where to follow Paul and Cory
  • 50:50 – Number One Hundred One: Thinking that you can make a single decision from this list without working with a coach or advisor



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



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