Retirement Ready

What small piece of wisdom can we take away and apply to our financial plan? Eric talks through five fortune cookie statements and what they mean.   Key topics on this show:  1:37 - “Crisis is an opportunity…” 3:10 - “A feather in the hand is better than a bird in the air.” 3:45 - “Accept something you cannot change and you’ll feel better.” 6:03 - “A foolish man listens to his heart.” 7:00 - “Don’...

Episode preview: Which investors will end up ahead in the end? Eric talks through the types that might look successful…until they aren’t.   What we discuss:  0:47 - Who are the worst investors? 1:33 - Trying to get rich quick. 3:46 - Operating without a plan won’t work. 7:32 - Don’t only focus on short-term instead of long-term investing. 8:49 - Remember what happens when you invest in the stock m...

Episode preview: Ever wonder what to expect during a periodic review with your financial advisor? Eric shares what this looks like depending on the client.   What we discuss:  0:47 - What does a periodic review look like? 5:23 - What kinds of things do you talk about with an advisor? 10:39 - Get reassured about your plan in relation to what the market is doing.   More about this episode: On today’...

Think about the taxes! Eric answers three questions from the mailbag today that all involve financial decisions with tax implications.   What we discuss on this episode:  0:46 - Mailbag: Should I take the lump sum or monthly payment for my pension? 4:55 - Mailbag: Should I use my retirement savings to pay off debts? 9:57 - Mailbag: Does it matter who gets what asset in my legacy plan?    Visit us...

Financial advisors are people who want to get along with, but you probably want more than just a nice person. We talk through what you should expect with a fiduciary and when you should get a second opinion.   Key topics on this show:  0:47 - Working with a “nice” person? 2:06 - A lot of people ask for a second opinion. 6:08 - Is the communication lacking? 8:51 - Are you working with the right spe...

Retirement decisions involve a lot more than just the money, but also the emotional and lifestyle decisions, too. Eric answers three questions from the mailbag from listeners making retirement decisions.   Key topics on this episode: 0:46 - Mailbag: How does tax get calculated on stock sold? 4:04 - Mailbag: How much is too much to spend on a forever home? 6:44 - Mailbag: What do I do when my retir...

We play the game of Jeopardy as Eric answers financial questions on today’s show. Do you know all the answers?   Key topics on this show:  0:50 - Let’s play a little Jeopardy! 1:28 - Known for its high fees, this financial product has given a bad name to others. 4:47 - This requires a financial advisor to put the clients’ best interests first. 6:57 - This financial phenomenon will eventually retur...

If you have a 401(k), what are some of the downsides? Eric talks through what a 401(k) is best for and when it is better to invest elsewhere.   Key topics on this show:  0:46 - Let’s talk about the weaknesses of 401(k) accounts. 1:46 - The administrative costs are expensive. 2:52 - Target date funds are a tool. 5:32 - What kind of risk do you have? 7:44 - There are not many choices.   9:53 - Withd...

What should you be considering when trying to DIY your retirement plan? Eric talks through why many later decide working with a financial advisor is best.   Key topics on this show:  0:47 - Retirement planning is not as easy as it looks. 2:59 - How do you approach the plan as a whole? 7:03 - How much time do you want to spend focusing on this? 10:10 - What happens if…?   Read more and get addition...

What does it look like to achieve financial security? Let’s talk through a few financial goals people have when they meet with a financial advisor.    Key topics on this show:  0:47 - What is your definition of financial security? 3:18 - You don’t want to run out of money. 4:31 - Maybe you want to be able to work on your terms. 6:41 - Having an emergency fund protects you. 9:13 - How do you avoid...

When you’re a business owner, you put your heart and soul into your business. There’s a lot that goes into starting and running a successful business. When it’s time to retire though, how can you make sure your transition goes well?   Key topics on this show:  1:04 - If you start a successful business, will you be set for retirement? 5:30 - How will you sell it? 9:02 - Are you planning on the fami...

How much should you pay attention to some of these recent financial news headlines? Eric shares what he thinks and what matters when it comes to your financial situation.   Read more and get additional financial resources here: https://petersonfg.com/retirementreadypodcast/     What we discuss in this episode:  1:18 - Are we preparing for an economic hurricane? 3:22 - Mortgage rates are in for a b...

Should you follow conventional wisdom when it comes to your financial decisions? Eric shares when the conventional wisdom might not be best.   Read more and get additional financial resources here: https://petersonfg.com/retirementreadypodcast/     What we discuss in this episode:  0:47 - Should you invest in real estate? 3:49 - Is there good debt vs. bad debt? 5:52 - Is retirement a chance to rel...

Let’s plan the vacation of your dreams: retirement. More than simply a week away, you want to spend the right amount of time and energy thinking about this major season in life.   Read more and get additional financial resources here: https://petersonfg.com/retirementreadypodcast/     What we discuss in this episode:  1:08 - Where will you stay? 3:03 - Where are you going to eat? 6:10 - Unexpected...

What are we all facing and wondering about in our financial futures? Eric talks through a few topics you might have had on your mind lately.   Read more and get additional financial resources here: https://petersonfg.com/retirementreadypodcast/     What we discuss in this episode:  0:47 - What can we all relate to? 1:46 - What do we all have in our car? 2:22 - We all are looking at Social Security...

Where’s the best place for your money to go? Several people are considering where their money should be, so Eric answers three questions from the mailbag for today’s show.   Read more and get additional financial resources here: https://petersonfg.com/retirementreadypodcast/     What we discuss in this episode:  0:46 - What if I don’t know if I’m wanting to retire? 5:33 - Should I do a rollover to...

Ready to ace your retirement plans? Let’s talk tennis and see how much it relates to your financial plans on today’s show.   Read more and get additional financial resources here: https://petersonfg.com/retirementreadypodcast/     What we discuss in this episode:  0:47 - Eric reminisces about playing tennis back in the day. 1:49 - The court is different for singles vs. a doubles match. 5:19 - Fina...

What financial advice does Eric have for younger couples? What can you do to reduce next year’s taxes? Eric answers these questions and more from the mailbag.    Read more and get additional financial resources here: https://petersonfg.com/retirementreadypodcast/     What we discuss in this episode:  0:47 - What are good investing tips to share with others? 3:20 - Should I delay taking my Social S...

What do you need to get you through the long haul of life? Eric talks us through what this looks like in your financial plan and how to build it with an eye on a distant horizon.   Read more and get additional financial resources here: https://petersonfg.com/retirementreadypodcast/     What we discuss in this episode:  0:47 - What are the biggest downsides to a longer life expectancy? 3:33 - How c...

Everywhere you turn there’s a headline about inflation but what do you need to know about what’s going on? Eric weighs in on the recent numbers and what you can do about it.   Read more and get additional financial resources here: https://petersonfg.com/retirementreadypodcast/     What we discuss in this episode:  0:46 - What is happening with inflation? 3:00 - Gas is at the top of the list. 5:32...

What kind of savings do you really need for retirement? Are you working with the right advisor to get you there? Eric answers three questions from listeners on today's show.    Read more and get additional financial resources here: https://petersonfg.com/retirementreadypodcast/     What we discuss in this episode:  0:47 - Mailbag: If I can’t save 15 percent for retirement will I be okay? 4:45 - Ma...

Come on down! We talk about our favorite TV game shows and how it relates to our financial plan (and when it should look different).   Read more and get additional financial resources here: https://petersonfg.com/retirementreadypodcast/     What we discuss in this episode:  0:47 - Do you have a favorite TV game show? 2:08 - The Price is Right…with your stocks? 4:54 - Are You Smarter Than a 5th Gra...

What do you need to know when it comes to tax planning? Eric outlines the ways a tax strategy can make a big difference in your retirement plan.   Read more and get additional financial resources here: https://petersonfg.com/retirementreadypodcast/     What we discuss in this episode:  0:47 - Thinking about taxes? 5:57 - Will taxes be lower in retirement? 8:12 - How can you be strategic about your...

How do you get the answers you need? A lot of it comes down to asking the right questions. We talk through some of the wrong questions people often ask and what you should be asking instead.    Read more and get additional financial resources here: https://petersonfg.com/retirementreadypodcast/     What we discuss in this episode:  0:46 - How much money do I need saved for retirement? 2:25 - Shoul...

What should you do about 401(k) accounts from old jobs? How can you find out what your Social Security benefits would be? Eric answers these questions on today’s show.   Read more and get additional financial resources here: https://petersonfg.com/retirementreadypodcast/     What we discuss in this episode:  0:46 - What should I do about my investments taking a hit so close to retirement? 4:07 - H...