Sometimes it’s hard to make financial sacrifices when the reward might not be seen until several years in the future. Today we’ll talk about some of the situations where you might be inclined to take the immediate benefit when you should really consider the delayed rewards…
While it can be tempting to pass up on a 401k match when money is tight or take Social Security as soon as you turn 62, considering the broader implications and future impact of those choices is critical.
Here’s some of what we discuss in this episode:
0:00 – Intro
3:41 – Passing up on 401k match
5:51 – Saving in tax-deferred accounts
8:30 – Depleting emergency fund
10:38 – Cashing out retirement plan
13:48 – Taking Social Security at 62
18:10 – Getting to know Frank
21:07 – Listener question
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