Ep 50: Overconfidence in Financial Planning

Overconfidence in financial planning can cause a lot of issues. It's best to meet with a financial planner to keep you level-headed and informed on an expert's opinion.

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The Game Plan

With all the information on the internet these days about investing and saving for retirement it can be easy to fall into the trap of overconfidence. We often think we know enough to make smart retirement decisions. However, this type of overconfidence can cause gaps and mishaps in our financial plans. It’s usually best to get an expert’s opinion on big financial decisions.

On today’s episode, we are going to be discussing overconfidence in financial planning. Perhaps you know someone that is a little too confident in their ability to predict the stock market. A lot of us even have too much reliance on our own knowledge and decision-making skills. Let’s go over 5 areas in financial planning where people tend to get overconfident and how a financial planner can help mitigate these vulnerabilities.

The X’s & O’s

Check out the timestamps below to skip around to specific topics on the show.

[1:00] October is here!

[2:30] Stock market

[5:48] A million dollars to retire

[7:23 ] Rule of thumb

[9:12] Our own understanding

[12:40] Our own decision making

“To me it’s about leaving those specialties to those special people.”

– Dale Tondryk

More To Explore

Ep 67: Are You A Risk Taker? How To See If Your Tolerance for Risk Matches Your Plan

Do you like to take risks? Or would you rather play it safe and steady? When it comes to the market risk can come with great reward, but it can also be damaging if our risk tolerance is out of balance with our plan. Most people don’t realize how much risk they are taking on and have a much lower tolerance than their portfolio reflects. 

Ep 66: Picking Sides in Important Financial Debates

Financial debates have existed for a long time and when we’re planning we may encounter quite a few. While there are various opinions out there, not everyone’s solution will fit your needs. Each situation is going to depend on your plan and goals.

Ep 65: Are These Retirement Statistics Encouraging or Disturbing?

We’ve gathered some updated retirement statistics from across the country. It’s time to find out if these are encouraging or disturbing findings if they’re reflective of the average client, and what you can do to improve your own retirement preparedness based on this information.

QUESTIONS FOR DALE?

MORE WAYS TO GET IN TOUCH

952-401-1671

dale@tondrykfinancial.com