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Financial advisors have seen it all.
Thats what makes their jobs equal parts challenging and rewarding.
And in those patterns, there are somecommon mistakes.
Those people sometimes dont realize they can factor continued income from their businesses into theirretirement budgets.
Worse, they may avoid budgeting for retirement altogether because they think it would mean giving up their passions.
Its important to remind clients that retirement doesnt have to look like the traditional model, said Kovar.
Best of all, you dont have to do anything other than make the initial transfer.
Comparatively, the average APY from traditional banks is 0.42% a high difference in how much you earn.
If you didnt, Woroch wants you to know.
This includes monthly bills, she said.
Use that cash to pay off your purchases.
But this mindset can lead to missed opportunities to build wealth.
Instead, people should look into high-yieldcheckingand savings accounts,CDs, or investment accounts.
*Information is accurate as of January 23, 2025, and is subject to change.
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