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Ep #10: Should We Follow Conventional Wisdom for Retirement Planning?

Today’s Debate:

When it comes to investing, conventional wisdom guides a lot of our decisions and strategies. While it usually benefits it, conventional wisdom isn’t always black and white. Following this advice on real estate, debt, and retirement lifestyle might not be in your best interest. We’ll explain on this episode.

Click the timestamps below to jump ahead in the episode…

Key Takeaways From This Episode:

Has anyone ever told you that real estate is always a great investment? What about taking on good debt instead of bad debt? 

These are just two examples of conventional wisdom that’s been around for years in finance. The ideas have worked for many people and get passed along as advice as a result. Many times they can be useful but there’s no guarantee they’ll be successful. 

To help sort through these common ideals, we will present four of them to Chris and get his opinion on each. We’ll discuss real estate, good debt vs bad debt, life in retirement, and managing investments in your portfolio. You’ve probably heard these so let’s get a deeper understanding as to why they might not be right for your retirement.

Check out the timestamps below to skip around to each topic.

[0:18] – We’re talking conventional wisdom today. 

[0:34] – Conventional wisdom says you can’t go wrong with real estate. 

[2:38] – Conventional wisdom says there’s good debt and bad debt to take on. 

[5:06] – Conventional wisdom is retirement gives us a chance to relax after a long career.

[8:17] – Conventional wisdom says if your investments aren’t doing well you should change it up.

 

A Potent Quotable:

Related Content:

What Financial Wisdom Can We Gain from Beatles Songs?

Do These Popular Beliefs Actually Work in Financial Planning?

 

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The Host:

Chris Scalese – Contact

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