Today’s Hack
Sometimes it’s hard to make financial sacrifices when the reward might not be seen until several years in the future. Today we’ll talk about some of the situations where you might be inclined to take the immediate benefit, when you should really consider the delayed rewards.
While it might be tempting to pass up on a 401(k) match during tight budget times or to take Social Security when you turn 62, today’s conversation is a good reminder of the benefits that can come from practicing patience and financial discipline. Don’t miss this insightful episode filled with practical tips on navigating financial decisions and embracing the power of delayed gratification!
Here’s some of what we discuss in this episode:
- Passing up a 401k match [2:32]
- Saving only in tax-deferred accounts [5:32]
- Depleting emergency fund [8:05]
- Cashing out retirement plan [10:37]
- Delaying home maintenance [13:24]
- Social Security at age 62 [15:28]
- Working with wrong advisor [18:26]
If you have any questions about what we discussed in this episode, reach out and we’ll be happy to set up a time to talk.