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Many people try to take on financial planning without help, but one the issues you run into is making decisions based on assumptions you have about retirement.

These misbeliefs could cost you money at best and derail your retirement at worse. No one wants that to happen to them so clearing up these assumptions is our goal for this episode of the How Money Works podcast.

Craig and Jennifer Moser will take on these five retirement beliefs that you\u2019ll often hear:

-You need a certain amount of money to retire.

-Income needs will decrease in retirement.

-That inheritance you\u2019ll receive will cover any income gaps.

-401k retirement estimates are accurate.

-You\u2019ll figure it out when it comes time.

Have you heard any of these before? Did you previously assume some of this was true? Many people do so you wouldn\u2019t be alone, but we want to help inform listeners on this show and our radio show about the things we plan for to take the guessing off the table. A comprehensive plan makes all the difference because you\u2019ll go through every aspect of your financial plan and run through all the scenarios to make sure your retirement is on track.

So join us for this show and help us clear up some misunderstandings that often come up in conversations with people.

Thanks for listening to this episode. We\u2019ll be back again next week for another show.

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Get additional resources here: https://maestrowealth.com/\xa0

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Today's Show Rundown:\xa0

0:30 \u2013 The mindset that you can retire when you have a certain amount of money.

2:54 \u2013 What long-term implications does this huge stimulus plan have?

4:01 \u2013 Why a comprehensive plan makes a difference. \xa0

6:05 \u2013 A common belief is that our income needs will decrease once we retire. \xa0

7:49 \u2013 Get a second opinion to find out if you\u2019re expectations are accurate.

9:22 \u2013 The assumption that an inheritance will make up for an income gap.

11:24 \u2013 Two key things to remember about inheritances.

13:26 \u2013 Income estimates on 401k statements are taken too literally.

14:53 \u2013 Other things to think about when you\u2019re planning. \xa0

16:42 \u2013 Don\u2019t assume you\u2019re going to figure things out when you need to.

19:29 \u2013 We see people without a plan that are living day to day because they don\u2019t know how much they can be spending. \xa0