{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Ep 29: Spotting Red Flags In Your Finances","description":"Today we\u2019re sharing some potential red flags you should be aware of in your finances. How would you answer these questions? Can you name all of the investments in your portfolio?  It\u2019s not a red flag if you can\u2019t name them all, but you should know generally what you own. If you can name them all, you might not be very well diversified. If you don\u2019t know how your money is invested, maybe you\u2019re not diversified enough or maybe you\u2019re taking too much risk or not enough. You have to pay attention to how your money is invested.   How often do you meet with your financial advisor?  You\u2019re paying someone to give you advice, so you need to be in touch with them regularly. Meetings don\u2019t always have to be long and detailed. Sometimes a 15-minute conversation is all you need to check in. Are your account balances constantly moving up and down?  Most people are OK with volatility when they\u2019re trying to accumulate funds. It can be to your advantage because you can buy when the market drops. Retirees, on the other hand, don\u2019t like the ups and downs of the market. You need to meet with your advisor and know more about your investments and the big picture. How much income will you need in retirement? If you are close to retirement and you don\u2019t know how much you\u2019ll need in retirement, that\u2019s probably a red flag. Everyone spends different amounts, but you need to know, generally speaking, how much money you need in your bank account each month. Listen to the entire episode or click on the timestamps below to skip ahead to a particular question.  3:12 \u2013 Name your investments  5:26 \u2013 Meeting with your advisor  7:31 \u2013 Account balances  10:14 \u2013 How much income you\u2019ll need  12:40 \u2013 Retirement plan   Read more and get additional resources here: https:\/\/makeretirementwork.com\/make-retirement-work\/podcast.html  ","author_name":"Make Retirement Work","author_url":"https:\/\/makeretirementwork.com\/","html":"