“If you're growing at 8%, you're growing at 8%, no matter if you have a dollar or $10,000. And if you've got it spread over in five separate accounts, but it's all growing at the same rate, then you're making the same amount of money.”   Ever feel like you're wading through murky waters when it comes to retirement planning? You're not alone. Stephanie McCullough and Kevin Gaines of Sofia Financial and American Financial Management Group illuminate the path with their expertise, debunking pervasive myths that cloud the judgment of many investors.   They kick things off by setting the record straight on investment growth, cutting through the confusion surrounding account consolidation, and revealing the true engine of growth—percentage rates. Diversification is another victim of misunderstanding, and they’re untangling the real meaning from the common misperception that more accounts always equals better diversity.   As the discussion wades deeper, Stephanie and Kevin tackle the intricacies of IRAs with precision. Did you know that your 401(k) doesn't barricade the door to IRA contributions? Our hosts share why tax deduction eligibility is a whole different ball game. Plus, they don't shy away from the tough stuff—like financial emergencies—guiding you through the maze of withdrawal rules to keep penalties at bay. The conversation then turns to market volatility and holding steady to your investment strategy. So buckle up and tune in; this episode is your financial GPS, navigating you away from common pitfalls and towards a more secure retirement.     Key Topics: Growth Rate of Money in One Account vs Multiple Accounts (01:23) Investment Accounts and Diversification (03:14) IRAs, Contributions, and Emergency Funds (07:47) IRA and 401(k) Clarification (12:25) Financial Options for Emergencies (13:04) Borrowing and Credit (17:47) Changing Investment Strategy Because of World Events and Headlines (21:05) Investment Strategies for Various Life Stages (24:19) Retirement Planning with Nuanced Investment Strategies (29:59)     Resources: Movie Clip: The new phonebook is here (The Jerk) Movie Clip: There is always… Threat (Men in Black) Tack Back Retirement Ep. 12: What Women Need to Know About IRA’s, with Sarah Brenner Tack Back Retirement Ep. 44: Don’t Try This at Home! Unique Situations Call for Unique Strategies Tack Back Retirement Ep. 64: What is Money Insurance? Tack Back Retirement Ep. 27: Health Savings Accounts (HSA’s): What Women Need to Know       If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com   You can find the transcript and more information about this episode at www.takebackretirement.com.   Follow Stephanie on Twitter, Facebook, YouTube and LinkedIn.  Follow Kevin on Twitter, Facebook, YouTube and LinkedIn.