Retirement Ready

Mailbag: Does It Matter Who Gets What Asset in My Legacy Plan?

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 online: http://petersonfg.com 
 

More than Just a “Nice Person”

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 specialist?
 
Visit us online: http://petersonfg.com 

Mailbag: How Much is Too Much to Spend on a Forever Home?

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 retirement income is more than my working income?
 
For additional financial resources, visit us online: http://petersonfg.com 

Financial Jeopardy

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 return.
8:47 - This forces retirees to drain their retirement accounts.
 
Read more and get additional resources here: http://petersonfg.com

401(k) Weaknesses

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 - Withdrawals are complicated.
 
Read more and get additional resources here: http://petersonfg.com

Retirement Planning: It’s Not As Easy As It Looks

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 additional resources here: http://petersonfg.com 

Financial Security in Retirement

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 feeling panicked during market volatility?
 
Read more and get additional resources here: http://petersonfg.com 

Financial Planning for Business Owners

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 family taking over?
 
For more financial information, visit us online: http://petersonfg.com 

Economic News and Sensational Headlines

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 bumpy ride.
4:23 - Looming twilight of social insurance?
6:53 - America’s unemployment rate might be higher than you think.
8:42 - Should you buy gold?

Conventional Wisdom

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 relax?
8:51 - Should you try something else with investments?