31: Keep Your Retirement Assets in One Place

Would someone describe your finances as ‘having things everywhere’? Throughout life have you been opening accounts here and there and but never closing any? We’re not here to judge you, actually having scattered accounts may work for you when your saving, but if you’re close to or in retirement it’s definitely not optimal. Today Caleb and Riley discuss asset consolidation and why it can be a wise and helpful financial planning decision. Learn more about:

• The cost of delaying the decision to consolidate, and the real detrimental financial implications
• How to be motivated to make the decision to consolidate and why this is a wise and impactful life decision
• Misconceptions of what good consolidation is and what it isn't

Memorable Quotes:

• “I think asset consolidation is one of those areas that people just don’t fully understand. Because often the end state feeling of the solution is sometimes what is being sold.”
• “Consolidation is more than just about being more diversified, it also allows your advisor to properly implement withdrawal strategies, rebalance, etc....”
• “If a retiree never runs out of money and they can spend confidently, without also passing away with too much unspent savings, then we have been successful. We do this by systematically alleviating all of the uncertainties that people have in regards to how long their money will last.“

Hosted by Caleb Miller and Riley Anderson of InvestorDNA Meet Caleb and Riley Book a Call Subscribe on Apple Podcasts Subscribe on Spotify Subscribe on Google Podcasts