One mistake is one that many young people share: parking too much cash in savings accounts. According to financial advisors, your money will lose value over time due to inflation by doing this.

An extra tax on home sale profits over $250,000 was designed to target wealthy homeowners. But as home values have soared, the tax is impacting middle-income people, too. Two older homeowners said they wanted to downsize but had been discouraged by the tax.

Will your Roth 401(k) account distribution be tax-free? Make sure you understand the five-year rule.

Too many people assume disaster will never happen to them, leaving them unprepared when it does indeed strike. In the wake of a natural disasters like the California wildfires, the last thing anyone wants to deal with is trying to compile lists of items they’ve lost to submit for insurance payouts. That's why taking the time to inventory your belongings now, before tragedy hits, can go a long way toward giving you peace of mind should the unthinkable happen.

Expecting yourself to know everything is unrealistic and leads to burnout. Giving yourself permission to not know everything opens opportunities for trust-building and learning within your team, fostering growth and yielding thoughtful solutions.