Financial Advisors Say Some Crazy Stuff... [Joe Knows Retirement, Episode 49]

Sometimes, financial advisors give advice that isn't helpful, or worse, say things that just aren't true. In this episode of Joe Knows Retirement, Joe shares eleven things he has heard financial advisors say that either aren't true for everyone or aren't true at all. From Roth conversions to income plans in retirement, Joe discusses it in this episode.

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Timestamps:
00:00 Financial advisors say some crazy stuff...
01:13 "I'm not a tax professional."
02:32 "Roths won't grow as much and you'll lose growth over time."
05:04 "All capital gains are at 15%"
06:28 "Paying off low-interest debt as soon as you can is always a good idea."
07:55 "Putting all your money into an annuity is always a good idea."
08:59 "Cash value life insurance is always a good idea."
10:32 "Fee-only is the best."
12:57 "A 10% return is better than a 7% return in retirement."
14:37 "It's fine to take out money when the market is down."
15:53 "Mutual funds are always a good idea."
17:07 "Working with younger financial advisors is always a bad idea."

Disclaimer: Since we do not know your specific situation, none of this information can serve as tax, legal, insurance, or financial advice, and may be outdated or inaccurate. The information comes from sources believed to be reliable but cannot be guaranteed. This content is prepared for educational purposes only. If you need advice, please contact a qualified CPA, attorney, insurance agent, financial advisor, or the appropriate professional for the subject you would like help with. Peak Retirement Planning, Inc. is an Ohio based registered investment adviser and able to offer advisory services in Ohio and in other states where registered or exempt from registration.