Nicholas Ockenga cautions retirees not to be swayed by myths or false claims about what they can do with their savings. He emphasizes that taking money out of a 401(k) too early can have lasting consequences, such as losing out on years of tax-deferred growth and reducing the funds available later in retirement.
Nick encourages retirees to think long term – recognizing that the savings they’ve built are meant to support them throughout their lifetime, and potentially benefit their heirs as well. Instead of making impulsive decisions, he advises focusing on financial goals and evaluating whether liquidating assets truly aligns with one’s broader retirement strategy.
