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Money Mistakes You'll Regret and How to Avoid Them

Release Date: 11/09/2023

5 Ways Wishful Thinking Can Damage Your Retirement

The Income For Life Show

A little hope is good for the soul, but when it comes to retirement planning, wishful thinking can lead to serious financial mistakes. Today, we’re walking through five common examples of wishful thinking that can quietly damage your retirement and how you can build a plan that protects your future instead of relying on luck. In addition to our main topic, usual get-to-know-you questions and quotes of the week, we’ll also share some key things for parents and grandparents to teach a new graduate. Tune in as we cover some practical ways you can help your graduate make smart financial...

Retirement Lessons From The Masters

The Income For Life Show

The Masters is a beautiful reminder of just how much strategy, patience, and long-term focus goes into a great round of golf. Turns out, retirement works a lot like the game. Today, we’re teeing up a few key lessons from the course and how they translate into smarter planning for your financial future. As always, we’ve got some great “get to know you” questions lined up for this week’s show, plus a few witty quotes of the week from Winston Churchill and Malcolm Forbes. We’re also bringing you a fun second topic today- the retirement assassins- those sneaky, silent killers of your...

The Five Love Languages of Financial Planning

The Income For Life Show

The five love languages were made popular by author Gary Chapman. If you’re not familiar with them, they include acts of service, quality time, words of affirmation, gifts, and physical touch. Let’s think about how you may encounter the love languages when it comes to financial planning. This week’s getting-to-know-you segment is full of laughs as we dive into childhood beliefs, magic wishes, and what our personal warning labels would say. Plus, we’ve got some great quotes of the week to share! For this week’s listener question, Sam from Rhode Island asks whether managing investments...

What Do Proposed Tariffs Mean For Your Portfolio?

The Income For Life Show

The day President Trump took office, he announced plans to implement a 25 percent tariff on goods from Mexico and Canada. Additional tariff conversations have exploded since that day. How might this impact your personal finances and the economy? Today, we’ll explain a bit of the and discuss these . Like always, we have some great quotes of the week to share and fun getting-to-know Matt and Sam questions to get the episode started. Later in the episode, we hear from one of our listeners, Peter, who’s at his wit’s end with his soon-to-be former broker. He’s shocked by the high fees...

5 Financial Mistakes to Avoid in Your 60s

The Income For Life Show

Financial mistakes can happen at any age, but they can have a particularly significant impact in your 60s. In this episode, we’ll explore 5 common financial mistakes to avoid during this crucial decade, along with 4 budget-friendly retirement activities to inspire your golden years. As usual, we have some fun getting-to-know Matt and Sam questions lined up, as well as quotes of the week from Walt Mossberg and Jack Canfield. For this week’s listener question, Dale asks whether he should make his 401(k) investments more conservative despite their recent strong performance. For our Retirement...

New Year, New Me: How To Change Your Money Attitude In 2025

The Income For Life Show

As we kick off 2025, a lot of people consider what they want the year to look like and how to put their best foot forward, especially financially. Think: “new year, new me!” To figure out what the new “you” is all about, sometimes it helps to reflect first on what you’ve done in the past and what you want to change moving forward. Today, we’ll talk about the financial decisions and habits you’ve maybe had in the past and what changes you can make this year to embrace the new you. This week, we're diving into more fun 'getting-to-know-you' questions and sharing two inspiring...

Most Americans Are Forced to Retire Early - Are You Ready?

The Income For Life Show

Did you know most Americans retire earlier than planned, often due to unexpected health issues, job changes, or financial surprises? These challenges can force people out of work early, leaving them unprepared for decades of retirement. In this episode, we’ll explore recent research highlighting the importance of planning for early retirement, even if it’s not in your current plans. We have some fun getting-to-know-you questions lined up for today’s show and great quotes of the week by George Burns and Antoine de Saint-Exupéry. For this week’s listener mailbag, Sandy in Buffalo asks...

Don’t Gamble With Your Nest Egg (The Special Election Edition)

The Income For Life Show

Everyone loves a good game show. Whether it’s spinning the big wheel or hitting the buzzer with all the right answers. But what happens when people turn their retirement planning into a game? Spoiler alert: it’s not always a win! In this episode, we tackle the risky moves people make when they treat their finances like a game of chance. It has been a crazy week here in our nation. That’s why, instead of our usual Retirement Ride Along segment, this will be a special election edition of the show. We thought it was important for us to take a moment to reflect and dive a little deeper into...

Kim Kardashian’s Advice Could Save Your Retirement: Unlikely Financial Wisdom

The Income For Life Show

You wouldn’t necessarily expect Mike Tyson, Kim Kardashian, or Snooki to dispense valuable insights about financial planning matters. In fact, you’d probably expect the opposite. But with a little bit of creativity, we can get some financial planning pearls of wisdom from even the most unlikely of sources. We have some fun getting-to-know-you questions lined up for today. We’ll also share a few great quotes of the week, including one from Napoleon Hill. For this week’s mailbag question, Nelson from Fort Collins asks if he would be safe to retire at age 62. For this week’s Retirement...

The Magic 8 Ball’s Guide to Retirement Planning

The Income For Life Show

Remember the thrill of shaking a Magic 8 Ball to get answers to your childhood questions? Would we ace that math test? Would we be famous someday? Well, today, we're bringing a bit of that magic back. But instead of asking about pop quizzes and playground crushes, we’re turning to the Magic 8 Ball for advice on something much more important: your retirement planning! What would the Magic 8 Ball have to say about these common retirement questions if it had the wisdom of a financial advisor? Of course, we’ll have our fan-favorite getting-to-know-you segment to kick off the show. We also have...

More Episodes

“Learn from the mistakes of others. You can’t live long enough to make them all yourself.” – Eleanor Roosevelt... Ever wish you could foresee financial missteps before they happen? In today’s episode, explore some real-life stories of regret and arm yourself with the essential dos and don'ts to ensure your money works for you, not against you.

We kick off this episode with some fun getting to know you questions. Then, we’ll share a great quote of the week by Jim Rohn. We also dive into a fantastic MarketWatch article about the current Social Security crisis.

For this week’s mailbag question, Jennifer from Scottsdale, Arizona asks if it’s a good idea to invest the leftover cash from a home sale and take on a new mortgage. For this week’s Retirement Ride Along segment, Matt and Sam talk about their six-day trip to Las Vegas.

Here’s some of what we discuss in this episode:

Christmas shopping and a $13 coffee (9:45)
Get-to-know-you questions: Gardening, weird places to sleep, hitting snooze (15:58)
Quote of the week from Jim Rohn (23:20)
MarketWatch Article: The Social Security crisis is a bipartisan outrage — and it’s way worse than Lehman Brothers (24:10)
Money mistakes you’ll regret and how to avoid them (39:17)
Mailbag: "We're planning to downsize within the next year. When interest rates were lower, we were thinking of getting a mortgage and investing the leftover cash from our current home. Is that strategy no longer recommended?" (50:58)
Retirement Ride Along: Matt and Sam’s six-day trip to Vegas (56:51)