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money mistakes

The 10 most common money mistakes people are making

How confident are you that you’ve made all the right financial decisions? We often get asked what mistakes people are making so our clients can self-correct. After all, learning from other people’s failures is the best way to learn. So here are the Top 10 money mistakes people make with their finances



Top 10 Money Mistakes


  1. Investments are misaligned with risk tolerance, capacity, and requirement.
  2. No Will, Trust, Durable Power of Attorney, or advanced medical directive in place
  3. Beneficiaries and estate documents are not updated or missing
  4. The savings rate does not meet desired end state
  5. Too much debt
  6. Too much acceptance of risk: life, disability, long-term care
  7. Lack of clearly defined goals
  8. Believing what they are invested in is more important than their savings rate and investing behavior
  9. Missing a fully-funded emergency fund
  10. No tax planning


In summation; living reactively rather than proactively. Do any of these mistakes resonate with your situation? Do you have a plan to fix them?

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