10 BAD "Assets" That Will Make a Retiree Poor

Video Description

As we go through life, we are often hit with purchase or investment "opportunities" that will allegedly make us money, save us time, or provide some other benefit. These "opportunities" usually turn out to make the seller richer and the buyer poorer. Many people would call these money scams, or at least money traps for the uninformed... We cover 10 common "bad assets" retirees regularly purchase in this video. _____________________________________ Chapters: 00:00 Introduction 01:37 The New Car Pitfall 03:14 The Timeshare Promise 04:53 Luxury, Luxury, Luxury 06:00 The "Hope Tax" 07:10 The Retirement Fund Destroyer 08:16 The $35B Health Trap 09:11 Adult Children (too much) 10:09 The Murky World of Whole Life Insurance 11:12 Expensive Home Upgrades 12:08 The Empty Nest That Empties Your Wallet OUR THREE MOST POPULAR YOUTUBE VIDEOS OF 2024 10 CHEAP Purchases That Make Retirement SO Much Better: https://youtu.be/Rp3eLIJVlPs 7 Things a Retiree Should NEVER Disclose: https://youtu.be/8Vekr5Nwlfg 8 Ways You Can LOSE Your Social Security Payment: https://youtu.be/W8K9DgGUznA _____________________________________ OUR THREE MOST POPULAR ARTICLES ON HOLYSCHMIDT.COM How to Find the Right Medicare Plan: https://hlyshm.it/BestPlan Give My Regrets to Spreadsheets: Why You NEED Personal Financial Planning Software in 2025: https://hlyshm.it/ha2 Financial Tools Worth Every Penny: https://hlyshm.it/ha3 _____________________________________ OTHER IMPORTANT LINKS: FREE Retirement Ready Checklist: https://hlyshm.it/ha5 Follow Me on Instagram: https://hlyshm.it/ha6 Geoff's Facebook Page: https://hlyshm.it/ha7 Federal Reserve Board Survey of Consumer Finances: https://www.federalreserve.gov/econres/scfindex.htm Social Security Administration Application for Benefits https://secure.ssa.gov/iClaim/rib Current Social Security Cost of Living Adjustment https://www.ssa.gov/cola/ Social Security Payment Estimator https://www.ssa.gov/benefits/retirement/estimator.html Channel Disclaimer: this video is for educational and entertainment purposes only and is not meant to be a substitute for legal, accounting, tax, or professional advice. If you have any specific questions about any legal, accounting, tax or other professional service matter you should consult the appropriate professional services provider.