Ep 002 - Do You Have Holes in Your Buckets?

Retired and Free

Ep 002 - Do You Have Holes in Your Buckets? • In this episode, Pedro aims to help simplify complex financial questions and educate you as a consumer • The bucket analogy: • Most people have been saving money in retirement accounts or buckets • Most don’t realize that their buckets often have holes in the bottom • Pedro explains there are three major holes he has come across in his experience working with clients: risk, fees and taxes • Risk: the stock market is at an all-time high • Crucial to assess how much risk is present in your bucket • Fees: most people do not know how much they are paying in fees • Understanding how much fees you are actually paying is critically important to knowing how much money is going in and out of your retirement bucket • Taxes: when it is time to pull money out, Uncle Same will be there waiting • Pedro’s goal is to help reduce, eliminate or mitigate those holes in the retirement bucket to save your money. • Homework: “to what extent do you think you are exposed to the three holes in the bucket we talked about today—risk, fees, and taxes? Is it time to get a new bucket?” OUTLINE OF THIS EPISODE OF RETIRED + FREE • [ 1:08] The Bucket Metaphor • [ 3:22] The Problem with Our Industry • [ 3:55] The Holes in Your Bucket • [ 4:20] Risk • [ 5:43] Fees • [7:24] Taxes • [9:20] Homework Thanks for listening to the show! Pedro Adao Visit our website for more information on becoming Retired and Free: http://www.retiredandfree.com LIKE us on Facebook > http://www.facebook.com/retiredandfree Let us know how you like the show at [e-mail] Review our show on iTunes: https://itunes.apple.com/us/podcast/id1316789011# DISCLAIMER: Opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance references are historical and do not guarantee future events.