Intelligence

Financial Planning Mistakes You Can’t Afford

Financial planning–particularly retirement planning–is an ongoing, evolving process and missteps can set your plan back. First Tennessee Bank is looking for expert commentary on how to avoid some of the most common mistakes. 1. How important is to accurate estimate your retirement planning needs? Why is this something people tend to struggle with? What factors should be considered to get an accurate number? 2. How much can delaying implementing a financial plan cost you, in terms of lost savings opportunities? This can apply to retirement, as well as college planning or simply saving for
an emergency fund. 3. What kind of safety nets are important to have as part of your financial plan? For example, life insurance, annuities, emergency funds. What are the dangers of going without these kinds of safety nets? 4. What might investors cost themselves by assuming they can handle all of
their financial planning alone? What can an advisor help with that someone might overlook on their own? How can someone choose an advisor who’s right for them? 5. What’s the importance of reviewing your financial plan regularly? How often should this be done and what should you be looking for as part of your review?