10 Financial Mistakes You Should Avoid – A SavvyReview

10 Financial Mistakes You Should Avoid: Strategies Designed to Help Keep Your Money Safe and Growing

Paperback: 134 pages

Publisher: Stephen S.K. Ng Financial Group, LLC (2015)

Stephen Ng Financial Group, LLC,


No matter where you are in your financial or retirement planning journey, our mission statement remains the same: to help you grow and preserve your wealth by caring more, doing more, and knowing more.

10 Financial Mistakes You Should Avoid: Strategies Designed to Help Keep Your Money Safe and Growing shares the same approach as the mission statement for Stephen Ng Financial Group, LLC. The author, Stephen S. K. Ng is the founder and President.

The read opens with an introduction that paints a very broad overview of the ten mistakes as actual strategies to help prevent you outliving your money. The focus is on learning and applying the ten strategies, a plan for financial freedom and success, now and later.

The 10 Strategies

  • Have a Plan!
  • Understand Time Horizons
  • Preserve Your Investments
  • Understand Taxation
  • Educate Yourself
  • Diversify
  • Seek Advice
  • Risk Management Strategies
  • Understand Longevity Risk
  • Understand the Sequence-of-Return Risk

Stephen’s enthusiasm for helping others feel confident about their future is present throughout each chapter. He shares real life experiences that not only explains the reasons why financial mistakes are often made but also how to avoid making them.

For me the most underrated strategy is Seek Advice. As Stephen explains in his introduction we are well educated when it comes to our professional lives and careers however we do not educate ourselves with the same vigor with regards to our finances.

In my reading, I discovered new ways to look at some of the basics of financial planning. One example is Stephen’s use of a football analogy to discuss risk management strategies and the power of life insurance. Put your linebacker, tackler, and cornerback in place so that no single event or tragic mishap can tackle your financial health.

& I quote, “The best defense is a strong offense, which is why you should take action today. Insure your assets against death. Insure your income against disability. Insure your future against unforeseen costs associated with long-term care. Be on the offensive so that you won’t be on the defensive when tragedy strikes.”

Final Thoughts

This is an easy read, in the sense that it will keep you engaged with its conversational style and important insights.  I found the Epilogue most enjoyable as Stephen shares another new way to look at a theme we know well; physical and fiscal fitness. Stephen’s take on having a fulfilling retirement, The Three Stars, “You need to have health, you need to have wealth, and you need to have time.”

10 Financial Mistakes You Should Avoid: Strategies Designed to Help Keep Your Money Safe and Growing is available at Amazon in Paperback and Hardcover editions.


Brian Tramuel is a regular contributor and helms the 'A Richer Understanding' series. He lives with his wife Michelle, their children Geneva and Brian, and their Cocker Spaniel Maestro in Charlotte, NC. They, along with his two older children from a previous marriage, Davina and Aaron, provide a constant source of inspiration. Aaron lives, works and plays in Charlotte and Davina lives, works and plays in Roanoke, VA.

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