Imagine your retirement plan as a ship sailing toward a horizon of rest and relaxation. But what if one leak could sink it all? In today’s episode, we spotlight some of the single oversights that could send your dreams to the bottom. We'll share key strategies to plug the gaps, ensuring your financial ship stays buoyant and on course.March Madness is also upon us, and as you fill out your bracket and watch the NCAA Tournament this year, there are a few retirement planning lessons that you can learn along the way. Tune in as we share them in today’s show!To wrap up this episode, Michael answers some listener questions about the tax implications of gifting money, financial indecision, retirement spending, and more. Here’s some of what we discuss in this episode:Inflation is steadily increasing + Prolonged higher interest ratesAccounting for the expense of a nursing home stay in your financial planThe current overbought state of the stock market + Planning for potential tax increases Focusing on your plan rather than attempting to predict outcomes + Being prepared for unexpected events or "upsets"The importance of diversification to mitigate risk + Avoiding emotional decision-making in the planning processIf you need to gift money to your child, what might be the impact on your overall plan?What is some advice for people who struggle with financial decision-making?LEARN MORE:Recent educational videos on YouTube: https://bit.ly/3CMiRbtSchedule a meeting with Michael: https://lwsde.com/schedule-a-meeting/Visit Michael's website for more resources: https://lwsde.com/Sign up for Newsletter: https://tinyurl.com/2p979jjz

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