Retirement Ready

As a financial advisor, Eric has experience navigating some awkward conversations when it comes to managing money. Maybe someone wants to cut a family member off financially after being estranged. Or a couple decides to get divorced after several years together. Whatever the dynamic, you want to work with a financial advisor and fiduciary who can guide you through the situation.   Here are some of...

When it comes to money, there are a variety of different stances and mindsets people have. Eric has seen a bit of everything in his years as a financial advisor. In this episode, he talks through some of the mindsets he frequently sees and how he advises people to best approach the mindset they are in with money.   Here are the mindsets we cover on today’s show: “I hate my job, how soon can I reti...

Life always has risk, and there are several types of financial risk. Do you know how much risk you have in your portfolio? Understanding the different types of risk may help you understand what kind of risk you are exposed to.   Here are the different types of risk we discuss on today’s show: Usually, people think of stock market risk. (1:45) Interest rate risk was low until recently. (5:24) Infla...

Sometimes you get good news and bad news at the same time. Which one will outweigh the other? In this episode, we talk through a number of financial scenarios that can bring a bit of both good and bad. More times than not, you are better off than you expected but you won’t know until you ask a professional.   Here’s some of the good/bad news we’ll discuss on today’s show: You have a lot of debt, b...

A 401(k) is a highly valuable, widely used investment asset for many people. But what should you know when you set one up or contribute to one? In this episode, we’ll talk through some of the things you’ll want to consider when using this powerful investment tool. Stay tuned to learn how to get the most out of your 401(k).   Here’s what you’ll learn about on today’s show: Understand your need for...

Every generation has had a different experience and is currently at a different life stage. In this episode, Eric talks through some of the financial challenges that Millennials, Gen X, and Baby Boomers face. Understanding and acknowledging these different challenges can help you better plan according to where you are in life.   Here’s what we talk about on today’s show:     Millennials face price...

We all have pet peeves, so in today’s episode we talk about some pet peeves financial advisors have. Eric shares his experience as a financial advisor and sheds light on some things in the industry that can negatively impact both clients and professionals. From cookie-cutter financial plans to hidden fees, these things can really rub you the wrong way. Here are the pet peeves we talk about on toda...

Financial competency is something that is not taught nearly enough. As an advisor, Eric focuses on teaching not only strategic investing decisions but also the basic foundations of money. It starts by knowing how much you have. Then, ask yourself, how much do you really spend? It’s easy to spend more than you realize, so getting that in check can make a huge difference. When it comes to investing,...

What kind of financial wisdom can we take from a baseball player’s quotes? Quite a bit! Today’s quotes from Yogi Berra have a bit of humor and a lot of truth when it comes to your financial plan. From navigating annuities to planning for inflation, Eric shares how these quotes can bring a lot of meaning and understanding to our finances.    Here are the quotes we talk through on the show: “I never...

You may have seen the news about some bank issues with banks like Silicon Valley Bank. Is that cause for concern? If you have money in the bank, Eric explains how much is covered and what you can do to protect yourself. With any investments you make, realize which of the three components you’ll have: safety, liquidity, or growth. In this episode, Eric also answers two more questions from the mailb...

Building a successful retirement requires careful planning and wise decision-making. Unfortunately, it's all too easy to undo all of that hard work by falling prey to common pitfalls. Rather than risking the enjoyment and security of your golden years, we’ll discuss some ways to avoid these mistakes and secure your financial future in this episode.     Here are ways you can easily ruin your retire...

Every once in a while, financial concepts or strategies get misunderstood or misconstrued. It’s important to understand what you have and why you have it. On today’s show, we break down some financial ideals to find the “mistruths” or lies that can mistakenly be adopted.    Here are the mistruths we talk about on today’s show: “We can beat the market.” (1:40) “There are no fees.” (3:39) “Your tax...

Roth IRAs have been around for about 25 years, but a lot of people still don’t know how they differ from a traditional IRA. Understanding the difference between the two will help you determine which option is best for your retirement goals. In this episode, Eric shares what you’ll want to know about a Roth IRA and when to use it.   Here’s what you’ll learn on today’s show: The difference between a...

Some financial products or terms are easy to mix up. They sound the same or might do some of the same things, but there’s still an important difference between them. Eric guides us through several of these commonly mixed up financial things. Knowing the difference could help you make the right decisions when it comes to your financial plan.   Here’s what you’ll learn on today’s show: What are Roth...

When saving for retirement, a lot of people look to their 401(k). But what happens after you’ve maxed out your contribution based on the yearly limit? Eric explains what options you have to invest toward your retirement beyond a 401(k). This will include money in the different buckets as well as other products to consider. Here are the questions Eric answers on today’s show:       Mailbag: After m...

When it comes to where you’ve ended up financially, you may have a running narrative on how that happened. There are a number of common stories people tell themselves to make sense of their situation. On today’s show we discuss some of these stories and how we can both understand them and improve upon them. Whether you are feeling defeated by the threat of recession or ill-equipped to handle what...

When you watch TV shows or movie, it doesn’t take long until you realize who is the main character or who is more of a secondary character. When it comes to your financial life, which strategies, products, or tools are main characters in your financial plan and which ones are secondary?   Here’s what we talk about on today’s show: What role does your 401(k) play in your financial plan? (2:07) Life...

Do you have all of your money in one place? Sometimes your money should be kept in separate funds and separate places so that it can be used for the appropriate purposes. You want to be able to access the money you have when you need it, both now and in the future. On today’s show we talk about a few categories that can sometimes get combined and whether they should be together or separate. Here’s...

When you retire, your income changes but so do your options. One listener is wondering how to convince his wife that they don’t need to put so much money in the bank and can enjoy it a bit, too. Eric explains where things like your emergency fund can come and how couples usually think about savings. He also answers two other questions from the mailbag regarding retirement. Here are the questions E...

Do you have an old account laying around collecting dust, so to speak? Instead of forgetting about these, it’s important to find them, assess them, and get them up-to-date. It may even be an easier process than you think.   Here are the old accounts people tend to neglect or forget about: An old 401(k) might be out there. (1:09) Life insurance policies should be reviewed. (2:44) Savings accounts c...

Congress passed the SECURE Act 2.0 at the end of 2022, and you might have missed it because it was part of a larger bill. Now that the bill is law and many of the provisions have already taken effect, we want to talk through what changes that might mean for your financial plan. From RMD age to 529 plans, there’s something for everyone to be on the lookout for.   Here are some of the changes passed...

Retirement planning is so much more than simply having enough money socked away. Social activity, hobbies, skills, physical activity, and routines are all big components of your life now and likewise, should be in your retirement. When considering your time in retirement, don’t overlook these parts of your life and how it impacts your financial plan. Having an idea of what type of lifestyle you wa...

Sometimes even the best of intentions can lead you astray. When you get financial advice, it’s good to be a little cautious and consider where you are getting your information from. Everyone’s situation is a little bit different, so you need to focus on what the right thing is for you and your unique situation.   Look out when you hear financial information from these sources: Family may try to he...

How can you use your money wisely? Eric answers three questions that range from short-term travel plans to long-term estate planning decisions. While it’s good to be a good steward with your money, remember what it’s really there for. Sometimes money should be saved for your future, and sometimes making memories with your money now is worth more. These are the three questions Eric answers from the...

Are you dreaming of retirement? We talk through the different levels of desire people have in regard to retirement. Some can’t wait to cross the finish line and others have no plans soon to leave their jobs and careers. Depending on where your desire lies, here’s what you can do to prepare for the future.   Here are some of the levels of desire people feel when it comes to retirement: Level 1: I d...