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Common Financial Mistakes

One of the nice things about getting older is that we frequently learn from past mistakes. However, when it comes to finances, our needs and objectives change over time and we may make mistakes unrelated to prior mistakes. The following is a breakdown of some of the mistakes people may make during their lifelong financial journey, based on age:

  • 20s – Tend to be too conservative in their investments.
  • 30s – Start outliving their means, leading to credit card debt, and spending instead of saving.
  • 40s – Find they have a hard time saving while having to pay out college expenses.
  • 50s – Enjoy the fruits of higher income, often developing lifestyles that cannot be maintained in retirement.
  • 60s and up – Overestimate their capabilities and may wait too late to delegate important financial responsibilities (e.g., assisted living facility, assigning power of attorney). 

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Danielle Christensen


Danielle is dedicated to serving clients to achieve their retirement goals. As a Paraplanner, Danielle helps the advisors with the administrative side of preparing and documenting meetings. She is a graduate of the College of St. Benedict, with a degree in Business Administration and began working with Secured Retirement in May of 2023.

Danielle is a lifelong Minnesotan and currently resides in Farmington with her boyfriend and their senior rescue pittie/American Bulldog mix, Tukka.  In her free time, Danielle enjoys attending concerts and traveling. She is also an avid fan of the Minnesota Wild and loves to be at as many games as possible during the season!