Brad Lineberger is president and founder of Seaside Wealth Management, a comprehensive wealth management firm based in Carlsbad, CA. Brad graduated from UCLA and started the independent firm with a goal of providing unbiased advice, free from conflicts of interest. Brad holds the designation of Certified Wealth Strategist.
Brad has a passion for teaching and has become known in his community as both an educator and coach not only for his clients, but for the public as well. He frequently volunteers his time in the community. He has taught Dave Ramsey’s Financial Peace, community workshops and financial planning classes at Mira Costa College and local non-profits. He feels it is his mission to teach and share his knowledge of wealth building strategies while helping out in his community in various charitable endeavors.
We asked Brad to share his insight into financial planning and why getting an early start is of the utmost importance.
Brad, why do you feel it is in someone’s best interest to start their financial planning as early as they can?
Brad Lineberger: The earlier you start the better the odds of creating a successful outcome. Too many times we watch as people delay the process. They wake up too late in the game and they find they have to rush to prepare to retire. This creates windows for mistakes to happen. The earlier someone starts the better off they are. It gives more time for their accounts to grow. It gives them more time to think about the vision they have for their future.
What is the biggest misconception people have about planning for their financial future?
Brad Lineberger: People are scared that it has to be this big, intimidating and overwhelming process. We think quite the opposite. If you keep it simple, if you boil it down to a few common core things that you must execute it can actually be a fun, engaging and invigorating process that allows you to create the vision you have for your future. It can be quite fun if approached in the appropriate manner.
Is it really possible to save for your retirement while maintaining a comfortable lifestyle?
Brad Lineberger: Absolutely. It comes down to having an awareness of what it is you really want both today and also in your future. It comes down to an awareness of what you’re really spending and asking yourself is that what you really value. Most of all today there is such great technology and tools available to help you track and monitor your progress. There is no reason why people can’t have their cake and eat it too.
What do you think are the biggest mistakes people make when they try to plan for their retirement on their own?
Brad Lineberger: People wait too late to get started, people think they can do it on their own. It’s kind of like building a house from the ground up. It’s not something you would undertake on your own. You would get a general contractor, you would have an architect. You would have all of the appropriate professionals in place to do the job. It’s very similar to retirement planning. People take on too much risk in their investments or sometimes they don’t take on enough risks in their investments.
One of the other biggest factors is people underestimate how long they are going to live. We’re finding that one out of two people are going to live to the age of ninety two. You need to make sure that you don’t run out of money. This is becoming a really common mistake. People underestimate their life expectancy.
So what you are saying is that when people plan for their retirement they don’t plan to have their assets last as long as they do?
Brad Lineberger: Exactly. Everyone thinks it won’t happen to them. They don’t think they will make it to ninety two or ninety five. The scary question is what happens if you are wrong and you do. Are you prepared?
Why would working with a professional such as yourself greatly improve a person’s chance of success in planning for their retirement?
Brad Lineberger: When you work with somebody who’s going to partner with you in the journey you are engaging a coach, a guide and a counselor. Someone who is going to be there to keep you on track, to make sure you do the little things correctly on a daily basis and on an annual basis to keep you moving forward.
Really, it’s having an accountability partner to make sure you do get to accomplish and create the vision you have of your future.
Brad Lineberger can be contacted at Seaside Wealth Management by calling 760-730-8120. His business website is: http://www.seasidewealthmanagement.com. Brad Lineberger offers securities through First Allied Securities, Inc. Member FINRA/SIPC. Advisory services offered through First Allied Advisory Services, Inc.