With so much information at our fingertips on a daily basis, we’ve never had more access than we do in 2019. But as you know, not everything your read is correct. In this episode, we bust some of the financial myths that exist before letting you know which financial questions to ask. We’re also joined by Michelle McKinnon for the spotlight segment.

There’s no limit to the amount of information you can find about finance and investing, but we all know you can’t believe everything you read on the internet. And occasionally, you also need to check some of the things you hear.

That’s what we’ll do on today’s episode of No Payne, No Gain. Ryan and Bob clear up three financial myths that you might have heard before while using some client stories to give you real-life examples.

From there, the guys identify some commonly asked financial questions they’ve received. You’ll get more accurate answers if you change the way you ask these questions and they’ll give you the guidance to do just that.

We’re also excited to have Michelle McKinnon join the show for this week’s Spotlight segment. She shares a recent client story about a couple that want to retire soon but haven’t been in the market since pulling out in 2008-2009. It’s something many people can relate to and she’ll share the advice she gave them.

We’ve laid out the show in the rundown below to make it easier for you to skip to the topics you care about most or to go back and listen to something again.

[1:03] – Myth 1: The more a plan weighs, the better it is.
[2:36] – Ryan shares a client story about sitting down a seeing wealth projections.
[3:33] – Myth 2: A simple will is enough.
[3:34] – Myth 3: Your spouse will be fine. She only needs half the amount of income.
[6:25] – Bob and Ryan share client stories of couples that recently dealt with these issues.
[9:49] – What’s a better question to ask than ‘how much money will I need for retirement?’
[11:24] – Ask a different question than ‘how can I get a higher return on my money?’
[12:52] – Don’t look for the lowest fees from an advisor. Look for the best value.
[17:48] – This week’s Spotlight: Michelle McKinnon joins the show to discuss a client that has been fearful of getting back into the market after getting out in 2008-2009 and how the effected retirement.

“Planning should be intuitive. It should be easy to understand. We always say simplicity over complexity.”

– RYAN PAYNE, No Payne No Gain Podcast

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