Retirement is an often-overlooked part of life. Everybody wants to stop working at some point, but don’t exactly put the work in beforehand to bring that about. There are many articles talking about how to avoid retirement mistakes, and instead of adding yet another to the mix, we are going to analyze some preexisting material. This is another video analysis, this time from financial expert Chris Hogan. Part of Dave Ramsey’s network, Hogan is a credible and reputable character when it comes to personal finance. So, as not to add to the massive pile of “Avoid These Retirement Mistakes!” articles, we will watch and expert break one down himself; First, some background:
As was previously said, Chris Hogan is a part of Dave Ramsey’s content network. He is another very conservative financial advisor, and this helps keep his advice safe and reliable. Not only that, but he has a wealth of life experience building himself up from nothing, and his relatable commentary has proven useful for hundreds of thousands of people. With that out of the way, let’s check out the video.
Short and sweet. Though he follows along with a Nerdwallet article, Hogan provides valuable insight here. My main takeaways are how serious he is about two things: debt and health. These are some of the most common issues retirees have, and often come in tandem. Bringing in a mortgage payment, auto loan, or any other debt will suck your retirement savings absolutely dry. Not only that, but you may be not-so-willingly forced into retirement by your medical issues. Make sure you don’t let this drag you into poverty because you held on to debt too long, or didn’t save soon enough. There are many sound points, but those are my two points that really landed the hardest for me. So, save early and often, be prepared for medical care, and settle your debts far before you retire.
Thanks for reading!