Retirement Ready

When you sit down to talk about your finances, sometimes you run into a question that stumps you. Even if you can’t fully answer the questions, it’s still important to consider these when financial planning. For instance, no one really knows when the next market crash will hit. We can, though, consider what caused market crashes in the past and then set up your financial plan strategically to acco...

Sometimes people get advice from financial “professionals” who maybe aren’t the right fit for their needs. Today, we discuss some of the things your advisor might not be talking to you about. If you’re getting value for the fees you’re paying then that’s one thing. But if you’re not getting your needs met by your financial advisor, it might be time to find the right advisor for you.   Here’s some...

Taxes are a major part of your life, especially your life in retirement. Having a good understanding of how you can prepare may save you in the long-run. Discussing your options with a financial advisor can help point you in the right direction. A big part of the conversation will be about deciding how to best save in a 401(k) or a Roth 401(k). But you also need to consider the outcomes and limita...

Sometimes we want to take the easy way out instead of the smarter way. Today, we talk about ways people have tried to cut corners financially and where that falls apart. Remember, having a plan and understanding what’s in it can save you a lot of heartache later on.    Here’s some of what we discuss in this episode: Some people take too much risk to make up for lost time. Don’t fail to update your...

No one loves losing money. So how do you strike the right balance of investing vs. being overly risk averse? Eric talks through how he guides clients through this dilemma. You might be surprised to find out your investment accounts are riskier than you realized!   Here’s some of what we discuss in this episode: What does it mean when someone is risk averse? A lot of times you don’t know how risky...

Next to income, tax planning is the most important thing Eric focuses on with his clients. If you can control how much tax you pay, it’s more money you get to keep, spend, and enjoy. Retirement is a prime time to focus on tax planning as you have more opportunity to control the taxes you owe. Listen in as we talk about tax planning in retirement!   Here’s some of what we discuss in this episode: W...

When can overconfidence cause catastrophe? If you are setting your financial goals based on a rule of thumb or a certain arbitrary dollar amount, you might want to reconsider. Having overconfidence, especially in the wrong things, can lead to financial disaster.   Here’s some of what we discuss in this episode: Overconfidence in the stock market. Overconfidence in a certain dollar amount for retir...

Sometimes we learn from our mistakes, and unfortunately, sometimes we make the same mistake over and over. Having a financial advisor can help you navigate through your financial decisions so you don’t get stuck in the same rut of financial mistakes on repeat. In today's episode, Eric will share some of the mistakes that he sees people make frequently.    Here’s what you’ll learn on today’s show:...

You may be familiar with Maslow’s hierarchy of needs, which breaks down a human’s needs into five different tiers. In today’s episode, we apply those tiers to what you need when retirement planning. Have you planned and saved in a way that will cover all of these needs? Stick around to find out!   Here’s what you’ll about learn today: The physical needs are your retirement basics. Safety concerns...

The classic movie, Forrest Gump, is full of great quotes. We see how some of those quotes can be applied to your finances. From figuring out what to do when life isn’t going just like you thought to learning from past mistakes, there are a lot of takeaways from Forrest.   Here are the quotes we dive into and turn into financial advice: “Life’s like a box of chocolates, you never know what you’re g...

Humans can be really good at procrastination. When we have the basics covered, it’s easy to put off the decisions and actions that we don’t want to deal with just yet. Today, we talk about some of the financial matters people are prone to put off and what you would be better off tackling right away. You might be surprised to find it wasn’t so hard to handle after all!   Here’s what we discuss in t...

When you work with a financial advisor, you aren’t just talking about money. Saving for your retirement also includes thinking about what kind of retirement lifestyle you want to have and what you need to keep in mind for the long-run. Do you want to work, by choice? What kinds of expenses will you have and how are they different in retirement? Is your money going to last for 30 years of retiremen...

Let’s talk about the different tax mistakes retirees are prone to make. Between changing rules and a lot of financial documents to manage, you’ll want to avoid these tax mistakes. Eric talks us through where people get tripped up and why. What you pay in taxes can make a significant impact on your nest egg, so be sure to work with a financial profes-sional who can help you navigate them in retirem...

What kind of personality do you have when it comes to money? Before you put together a financial plan, it’s important to understand the way you think and approach money. We talk through a few different personalities Eric commonly sees and how he advises them. Whether you are spending whenever you get a good excuse to or more of an intentional spender, it’s good to be cognizant of how you handle it...

From teachers to engineers, there are a variety of people who work with Eric and his team to build a solid financial plan. Those in similar professions tend to have similar mindsets when it comes to finances. Listen in as we discuss what similarities Eric sees across different industries and how he approaches each of them.   Here’s what you’ll learn on today’s show: Teachers are used to stability...

While no one really likes to talk about it, life insurance can be an important part of your financial plan. We talk about why people cringe when they hear the term, who most needs it, and why you might want to reconsider your preconceived notions about it. Life insurance sometimes gets a bad rap, but it can be a powerful tool. If you care for someone else and you hate taxes, look at life insurance...

Today, we take some quotes from the gruff but beloved Parks and Recreation character, Ron Swanson. He’s got a lot of dry sarcasm that can be hilarious, and surprisingly, can teach us a thing or two about financial planning. We share some laughs and some financial wisdom as we talk through some of these fun quotes from the tv show.    Here are some of the quotes we talk about on today’s show: “Ther...

Some of the strategies of yesteryear might not be the right strategy for you today. We talk through different financial strategies people have used and what makes the most sense for your financial plan. Are you saving your money or investing it? Are you actually as diversified as you think you are? Are you using your Social Security strategically in retirement? Knowing how all of these things can...

The term might sound fancy, but non-correlated income doesn’t have to be confusing. Ask, which one of these is not like the other? In retirement planning, you want to have some income that is not dependent on something else, such as the stock market. In this episode, Eric talks through some different examples of non-correlated income and how it can shore up your retirement income.    Here’s what y...

We play a game of fact or fiction when it comes to these five financial statements. Eric explains which one is which and shares why these ideas are true or false. As you make a financial plan, it’s crucial to base it on facts and reality so you can best prepare for retirement. Today, we talk about what taxes really look like in retirement, what expenses you should expect, and how to keep your inve...

No one wants to find themselves in a financial disaster. Having a plan is a great way to start. On today’s show, we talk about simple strategies that can make a huge difference in your financial future.   Here are the important strategies we discuss on today’s show: Updating out of date legal documents. (1:05) Fixing your beneficiary designations. (4:19) Avoid the tax time bomb. (8:04)   Get in to...

Let’s talk about some retirement statistics and hear Eric explain some of the reasons behind it. Are you among the 56 percent of Americans losing sleep thinking about retirement? That might be a sign you need to make a plan so you can rest easily. Knowing is way better than worrying. A large percentage of Baby Boomers think they can’t retire yet, but can they? One third of retirees still having a...

Why wouldn’t someone want to work with a financial advisor? In today’s episode, we’ll discuss some common reasons why someone might hesitate to work with one. To some, having an advisor sounds like added cost or something only for the rich. Instead, the value you receive from an advisor and having a customized financial plan could make all the difference in your financial life.    Here are the rea...

For those in the sandwich generation, you may be wondering how much to help aging parents who weren’t prepared for long-term care costs or your children trying to pay for college. Is it wise to step up financially to help them or are you better off focusing on your own retirement savings? In this episode, Eric answers this question as well as two more regarding CD rates and what to do if facing a...

All money has one (or two) of these three qualities: safety, liquidity, and growth. Eric shares which types of accounts carry these qualities for your money and why you should have a mix of each quality. What are the benefits and risks associated with each one?   Here’s what you’ll learn on today’s show: What three things your money can do. (0:50) What options you have with your money. (1:46) If y...