Retirement Ready

How you feel about things has a big impact on your financial decisions. We talk through several areas where understanding your feelings can help you determine what’s best for your financial plan.   Read more and get additional financial resources here: https://petersonfg.com/retirementreadypodcast/     What we discuss in this episode:  0:46 - We all feel strongly about money. 3:00 - How do you fee...

Do people usually fret about running out of money? Are there ways to set aside retirement money for your adult children? Eric answers these questions and more on today’s show.   Read more and get additional financial resources here: https://petersonfg.com/retirementreadypodcast/   What we discuss in this episode:  0:46 - Can I help my adult son save for retirement? 4:04 - Is it common to worry abo...

What kind of costs are you paying that you might not even realize? Eric identifies some hidden fees to look out for when planning for retirement.   Read more and get additional financial resources here: https://petersonfg.com/retirementreadypodcast/   What we discuss in this episode:  1:47 - Mutual funds often have hidden fees. 4:42 - What are variable annuity fees like? 7:42 - Inflation is typica...

Time for some questions from the mailbag! Are you making wise financial decisions when it comes to generating retirement income? Hear what Eric has to say on today’s show.   Read more and get additional financial resources here: http://petersonfg.com     What we discuss in this episode:  0:47 - Mailbag: Should I sell my rental property for more liquidity? 4:11 - Mailbag: Should I defer my Social S...

Ready to spend some time on the basketball court? We have some fun talking through past quotes from Shaq and then applying them to financial decisions.   Read more and get additional financial resources here: http://petersonfg.com     What we discuss in this episode:  0:46 - Let’s get some advice from Shaq! 2:43 - “Excellence is not a singular act…” 4:33 - “I’m like tax, you’re going to pay one wa...

What do an airport and your retirement plan have in common? Find out things like what to leave behind, what’s worth the money, and what’s a rip-off on today’s podcast!   Read more and get additional financial resources here: http://petersonfg.com     What we discuss in this episode:  0:46 - What should you remove before retirement? 2:15 - What’s worth paying for? 3:38 - How might you need to adapt...

What retirement plans simply don’t work out the way you want them to? Eric talks through the realities of retirement and how we can better plan accordingly.   What we discuss: 0:47 - What are the things that don’t work? 2:20 - Having a target date fund might not fit your needs. 4:02 - We’ll take care of each other in old age. 6:52 - You can’t guess how long you’ll live. 8:47 - Do you have someone...

When it comes to phrases or jargon, it’s good to know how to say it and what means what. Do you know what we’re talking about with each of these things?   What we discuss: 0:47 - Tennis shoes, sneakers, or gym shoes? 1:35 - Market crash, market correction, or bear market? 4:26 - Fireflies or lightning bugs? 5:00 - Soda or pop? 5:25 - Junk bonds or high yield bonds? 7:04 - Stocks or equities? 7:39...

Let’s play a little game of overrated or underrated to see how Eric feels about a number of financial topics (and some silly ones) in today’s podcast! Which of these do you agree with?   What we discuss: 1:09 - Over or under: getting a big tax refund? 3:23 - Is Star Wars overrated? 5:38 - Should you pay off your house early? 7:21 - Are variable annuities over or underrated? 9:39 - Who is a fan of...

What does it take to create a strong financial foundation in your financial plan? Today we talk about the importance of your income plan and how it influences your spending decisions in retirement.   What we discuss: 0:46 - What is your income plan? 2:55 - How many people have an income plan in place? 6:22 - Why do we find ourselves unprepared when we near retirement? 7:47 - What steps should we t...

Have a question for Eric? As a retirement planner, he answers questions like this all day. We tackle three questions today about pensions, vacation homes, and having multiple brokers.   Read and learn more: https://petersonfg.com/mailbag-pensions-vacation-homes-and-more/   What we discuss: 0:46 – “Should I buy a vacation home with my adult children?” 4:46 – “Should I take the lump sum or monthly p...

Planning to “live off the interest” or be in a lower tax bracket in retirement? Eric breaks down some of these concepts and points out what’s realistic vs. wishful thinking on today’s podcast.   Read and learn more: https://petersonfg.com/wishful-thinking-with-your-finances-2/   What we discuss: 1:03 - Can you live off the interest? 3:30 - I’ll be in a lower tax bracket when I retire. 5:20 - Can w...

When and how is the best way to do a 401(k) rollover? Eric discusses the benefits and details of doing a rollover.   Read and learn more: https://petersonfg.com/should-you-do-a-401k-rollover/   What we discuss: 0:47 - What are the main benefits of rolling an old 401(k) into an IRA? 5:41 - What are the tax implications of doing rollovers? 7:09 - Can you do a rollover while still working at that com...

What can you do to spend with confidence now and in the future? Eric discusses what will ensure you feel good about your financial decisions and spending habits.   Read and learn more: https://petersonfg.com/spending-with-confidence/   What we discuss: 0:49 - What does Bill Murray say about taxes? 2:03 - How do we get around the nerves in retirement? 4:20 - What does your budget do? 5:53 - How do...

How can you know just what you need? Eric talks through four different financial scenarios to help you get a better idea of what you need to consider and feel confident in your decisions.   Read and learn more: https://petersonfg.com/how-much-you-need/   What we discuss: 1:35 - How much income will I need in retirement? 4:43 - How much do you need in savings? 6:40 - How much life insurance do you...

What are some of the most frequently asked questions when it comes to a 401(k)? There can be a lot to a 401(k) so we’ll help you plan correctly.   Read and learn more: https://petersonfg.com/common-401k-faqs/   What we discuss: 1:11 - Company plan offers advice for a low fee, should I take it? 4:04 - Do I put as much as I can in or just up to the match? 6:03 - Should I use target-date funds? 7:16...

Maybe you know you want to work with a financial advisor but don’t know how to determine which one is best for you. Where do you start? What should you look for?   Read and learn more: https://petersonfg.com/how-do-you-pick-a-financial-advisor/   What we discuss: 0:47 - How do you know when picking an advisor if it’s the right fit? 3:31 - Big name is not always better. 5:52 - Ask for clarification...

If you have a financial setback, how can you find the upside in the situation? We talk through four major financial upsets that could actually be an opportunity in disguise.   Read and learn more: https://petersonfg.com/finding-the-silver-linings/   What we discuss: 0:46 - What’s the silver lining in a market downturn? 2:47 - What’s the bright side of capital gains? 5:01 - What are the pros and co...

What financial rewards are worth waiting for? We talk through three sets of options to determine whether delayed or instant gratification is better in retirement.    Read and learn more: https://petersonfg.com/delayed-gratification-in-retirement-planning-2/   What we discuss: 1:12 - Relief with the household budget vs. the getting 401(k) match.  3:30 - Tax deduction now vs. better tax planning for...

What kind of lies do you need to watch out for when it comes to your finances? Eric shares the truth you need to know in these five financial situations.    Read and learn more: https://petersonfg.com/two-truths-and-a-lie/   What we discuss: 1:23 - Which beats out inflation? 2:37 - Who does rising interest rates hurt? 3:55 - Emergency funds should be what? 5:35 - Market crashes are most problemati...

Are your expectations of retirement realistic? We talk through four things to keep in mind when you dream about your retirement future.   Read and learn more: https://petersonfg.com/retirement-reality-checks/   What we discuss: 0:46 - How can we manage expectations? 4:16 - Account for a change in expenses. 8:01 - You need to be flexible. 8:56 - Ask for help.

Think you’ve figured out the secret to beating the system when it comes to your finances? What financial lies might you be telling to yourself and how can you overcome them?   Read and learn more: https://petersonfg.com/financial-lies-we-tell-ourselves/   What we discuss: 1:00 - How often do people borrow money from their 401(k)? 2:42 - The stock market seems rigged. 5:04 - Isn’t the bank the safe...

Sometimes wisdom comes from the most unlikely places. Today we take celebrity advice and apply it to our own financial lives for a new take on how to approach your financial plan.   Read and learn more: https://petersonfg.com/unlikely-financial-wisdom/   What we discuss: 1:21 - “I’m my own worst enemy.” 4:43 - “Anybody you put on TV for five hours a week is inevitably going to say something stupid...

Are there any good reasons to skip out on working with a financial advisor? We talk through some funny ones on today’s show.   Read more and get additional financial information: https://petersonfg.com/reasons-to-not-work-with-a-financial-advisor/   What we discuss on today's episode:  1:03 - You’ve already mastered the internet. 3:36 - You like to DIY. 5:25 - Maybe you want to work until you die....

We are opening up the mailbag today to answer some listener questions. We will be discussing rental properties, taxes on sold businesses, and changing advisors based on investment performances.    Read more and get additional financial information: https://petersonfg.com/mailbag-rental-properties-advisor-reviews-and-more/   What we discuss on today's episode:  0:46 - Should I pay off my mortgage b...