Retirement Ready

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   Here are the important strategies we discuss on today’s show: Updating out of date legal documents.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...

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...