It’s Sunday, which means...it’s recap time here on the Retirement Quick Tips Podcast

This week the theme was: Top 5 Money Traps To Avoid

In case you missed any episodes, here’s what we discussed this week…

• Buy Now, Pay Later

• Debt Consolidation Loans

• Adjustable Rate Mortgages

• Timeshares

• 401(k) Loans

A couple of close contenders that didn’t make the cut: car leases, certain types of life insurance and annuities, and virtually any type of debt that’s not a mortgage: student loans, pay day loans, credit card debt, etc. 

The most important takeaway from this week is…the biggest money traps are almost always tied to debt. Whether it’s a 401k loan or a buy now pay later scheme, taking on more debt to fund a particular lifestyle comes home to roost eventually, and it’s concerning the amount of people who are still up to their eyeballs in debt, especially when you’re close to retirement. So pay attention and be aware of these money traps so you can steer clear. 

Tomorrow, I’m starting a brand new theme: Setting Up Your College Grad For Financial Success

It’s graduation season! If you have a child graduating college this year, congratulations! Many of you listening have a recent college grad, or a child (perhaps multiple children) who will be graduating college in the next few years. So with that in mind, I’m sharing with you my best ideas for how you can set up your college grad for financial success. 

Thank you so much for listening this week! If you’re enjoying the podcast, chances are someone else you know who is getting close to retirement could also benefit from checking it out, so please share the show with a friend, a neighbor, your sister, or your boss. Just go to your favorite podcasting app, hit the share icon, then text or email the show link to someone you know who is eyeing retirement. 

Thanks for sharing the love and spreading the word. I hope you have a blessed Sunday. My name is Ashley Micciche, this is the Retirement Quick Tips Podcast.

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance