Retirement Ready

Are your financial habits setting you up for a secure retirement or are they leading you down a path of uncertainty and uneasiness? Eric shares about the consequences of bad financial habits and what you can do to cultivate better ones. Instead of burying your head in the sand or overemphasizing the wrong things, take some time to recalibrate and get your financial life in the right direction.   H...

Have you ever wondered how major historical events influence our financial behaviors? Or wondered what the root is of some of your or your family members’ financial decisions? In today’s podcast, we dive into the profound impact of these "black swan" events on our investment and saving habits. From the Great Depression to the 2008 housing crisis, these events have left lasting impressions on gener...

Many people can have a couple of “blind spots” so to speak when it comes to their retirement plans. Do you worry you may not be accounting for everything you might need for your retirement? Then today’s episode is perfect for you!   Here’s some of what we discuss in this episode: The dangers of a market downturn early in your retirement. Accounting for inflation. Planning for medical costs. Unders...

There can be a lot of emotions when it comes to investing and planning for retirement. And what better way to discuss those emotions than through the characters of Pixar’s latest film, Inside Out 2? In this episode, Eric breaks down how emotions can impact your financial decisions and shares practical strategies to help you manage them.    Here’s some of what we discuss in this episode: The potent...

Preventative care isn't just for your health; it's essential for your financial well-being too. By consulting a financial advisor early and often, you can avoid financial distress and make informed decisions that lead to a secure and fulfilling retirement. Join us as we talk about the importance of preventative care with your finances in today's episode!   Here’s some of what we discuss in this ep...

Financial planning involves a lot of planning ahead, much like Noah did when he started building the ark long before the rain began. This metaphor serves as a powerful reminder that proactive planning is essential for weathering financial storms. Eric highlights that while we can't predict events like market crashes or global pandemics, we can prepare for them by stress-testing our financial plans...

When planning for retirement, one of the most critical aspects to consider is your income. But what does this mean, and how can you ensure you have enough income to cover your needs and desires?   Here’s some of what we discuss in this episode: Income is key. Considering medical expenses. Unexpected travel costs. Supporting family members in the sandwich generation. The impact of taxes.   Get in t...

Retirement is a significant milestone that requires careful planning and preparation. In today’s podcast, Eric shares a comprehensive checklist to ensure you're fully prepared for your golden years.   Here’s some of what we discuss in this episode: Understanding your monthly income needs. Choosing the right account for withdrawals. Timing Social Security benefits appropriately. Addressing longevit...

In the latest episode of the Retirement Ready Podcast, Eric invites us to explore the timeless wisdom of Mark Twain and how it applies to modern financial planning. Mark Twain, known for his wit and keen observations, offers quotes that are surprisingly relevant to today's financial landscape. Eric takes these quotes and translates them into practical advice for those planning their retirement.  ...

Are bonds really the safe investment we've always been told they are? What percentage of assets should a retiree or pre-retiree hold in bonds? In today’s episode, Eric addresses some of his most frequently asked questions about the world of bonds…   Here’s some of what we discuss in this episode: What is a bond and how does it work? How do bond funds and individual bonds differ? What makes bond pr...

Financial statements can often feel like a foreign language, filled with jargon and numbers that seem to have little relevance to your everyday life. However, understanding these documents is crucial for effective retirement planning. In the latest episode of the Retirement Ready Podcast, Eric breaks down the essentials of reading and interpreting your financial statements.   Here’s some of what w...

This one goes to the grads! Whether you know someone graduating high school, college, or even preschool, graduation marks a new stage and season in life. Similarly, retirement is a new chapter in life. It's a time of change, celebration, and sometimes, uncertainty. On today’s show, we talk through the similarities between leaving school and entering retirement.   Here’s some of what we discuss in...

Your 401(k) likely plays a major role in your retirement savings. That's why it’s important that it’s set up and functions in the way that’s most beneficial to you. Following our last podcast about beneficiary mistakes, now we focus on common mistakes people make with their 401(k).   Here’s some of what we discuss in this episode: Moving a 401(k) to another retirement account. Allocation and rebal...

In this episode of the Retirement Ready Podcast, Eric guides us through the critical yet often overlooked details of beneficiary designations. Learn the simple yet vital steps to prevent beneficiary blunders that could lead to unnecessary headaches for your heirs. Eric calls these errors "low hanging fruit" because they're easy to fix yet can save your family from future heartache.   Here’s some o...

Dive into the world of financial emotions in this episode with Eric Peterson. Discover how greed, fear, hope, and pride can make or break your investment strategy. Eric unravels the complexities of managing emotions to ensure a secure and enjoyable retirement. This episode isn't just about financial strategies; it's about understanding the human side of investing. It's about knowing when to hold o...

Retirement is closer than you think, but are you ready? With a staggering number of people lacking confidence in their retirement savings, Eric shares the misconceptions people have and what mistakes can derail someone’s financial future. Many people feel inadequate when it comes to what they have saved in their nest egg, uninformed about the pitfalls of target date funds, and unprepared about the...

Navigating life's financial crossroads can be tricky, especially when it involves your financial future. In this episode of Retirement Ready, Eric addresses these complex issues head-on. How do you best evaluate your broker and your investment performance against the S&P 500? Eric says a lot of that comes down to setting expectations and understanding the risks. Then, Holly wants to know what...

We are all guilty of procrastinating from time to time. Financially speaking, though, this can get you into a lot of trouble. Let’s talk about the areas where it might feel better to kick the can down the road.  Ultimately, it’s best to get things taken care of sooner, rather than later. Dealing with financial stuff or tightening up the budget might not sound appealing at first, but doesn’t have t...

Americans over 60 have lost more than $3.1 billion in various forms of fraud and scams in the last 12 months! Today we talk through some of the common scams people unfortunately fall for and how you can stay vigilant against it. As the scams get more sophisticated, it can be harder to see through them. Understanding what ones to look out for will help you steer clear of these schemes.   Here’s som...

There are a number of financial ideas that people have differing opinions on. Eric shares today which of these he agrees with or disagrees and why. From paying off the house to having life insurance after you retire, each of these financial concepts will give you something to consider as you compare to what you’re doing.   Here’s some of what we discuss in this episode: Should you pay off your hou...

Unfortunately, divorce happens. When it does, no one wants to make costly financial mistakes amidst an already stressful time. Today, we talk about the mistakes that can happen and how to avoid them when it comes to dividing up your assets with a spouse.    Here’s some of what we discuss in this episode: Choosing the house vs. other assets. Consider the tax implications and long-term impact. Combi...

In movies, there are all-time classic villains like Darth Vader or the Wicked Witch of the West. When it comes to the financial world, what kind of villains should you look out for? Just like some of these cinematic villains, some of these financial elements may have a bit of nuance and history that can make it hard to label them all good or all bad.   Here’s some of what we discuss in this episod...

When you’re younger, life insurance is often thought of as an income replacement as needed. But as you get older and into retirement, you might find other uses for life insurance. When thinking ahead for your estate and how it passes to beneficiaries, life insurance can prove to be a useful tool. Currently, the proceeds from life insurance are tax-free. How does that change how you include it in y...

What kind of risks do you take in your financial life? As you get less comfortable with things like climbing up ladders and riding on skateboards, you might also become less financially risky. When you enter retirement, how you view your money in the market changes significantly from your working years. It’s important to look at your portfolio to ensure your investments match your risk tolerance....

A lot of times, when you consider what is happening with your money, questions arise. Instead of letting those questions serve as a mental roadblock, ask a qualified financial professional. You may be surprised at what you hear! Or, you may feel validated that you are headed the right direction. On today’s show, Eric answers three questions from listeners.   Here’s some of what we discuss in this...