On this episode of the Firepreneurs Podcast, we are continuing on with our Financial Wellness Series with Greg Freeman and Chris Bauchle of Trust Wealth where we are unpacking the 5 Common Mistakes that firefighters make when planning for retirement.
Mistake #3: Being Overly Conservative
Having money means having risk. Money in the stock market is subject to market risk, money in bonds is subject to the interest rate, and money in your savings account or under your pillow is subject to inflation. You have the choice in what type of risk is appropriate for you based on your own risk tolerance and capacity. We will break these down and give more insight into how to invest depending on those factors, with the appropriate level of risk.