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Rethink Your Money
Critical Year-End Planning Insights
Sep 23, 2024
Join Managing Director Ryan Swartz, a CERTIFIED FINANCIAL PLANNER™, as he uncovers crucial year-end planning strategies. Discover common financial misconceptions and the importance of personalized financial advice. Ryan emphasizes proactive steps like tax harvesting and reviewing subscriptions to maximize returns. He also discusses the significance of seeking a second opinion from fiduciary advisors and shares valuable tips for parents of college students regarding budgeting and financial literacy. Tune in for essential insights!
47:50
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Quick takeaways
- Year-end financial planning helps rectify misconceptions, emphasizing the need to tailor strategies to individual financial situations instead of following trends blindly.
- Not all financial advisors provide the same value; understanding their roles and incentives is crucial for aligning them with your personal financial goals.
Deep dives
The Danger of Following the Crowd
Blindly following popular trends can lead to poor financial decisions. The speaker highlights the mental reflex to conform, likening it to people waiting inappropriately for an individual in a multi-stall bathroom. This herd mentality is particularly hazardous in finance, where many common errors persist due to cyclical financial knowledge. Unlike cumulative fields such as medicine, finance often repeats behavioral mistakes, rooted in timeless emotions like fear and greed.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode