Retirement Ready

Are These Things Overrated or Underrated?

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 mac and cheese? 
10:49 - How do you rate Roth IRAs?
 
Get Additional Information: https://petersonfg.com/retirementreadypodcast/

Building A Financial Foundation

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 take now?
9:41 - How does the Retirement Readiness Review help?
 
Get Additional Information: https://petersonfg.com/retirementreadypodcast/

Mailbag: Pensions, Vacation Homes, and More

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 pension?”
9:02 – “Should all my money be with one broker or financial planner?”

Wishful Thinking with Your Finances

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 we simply take care of each other in old age?
7:16 - I’ll spend less money in retirement. 
9:00 - I’ll keep getting good returns from the market.

Should You Do a 401(k) Rollover?

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 company?
9:06 - How do you know where to transfer it?

Spending with Confidence

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 you overcome a lack of confidence?

How Do You Know How Much You Need?

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 need?
8:53 - How much risk should you have?

Common 401(k) FAQs

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 - Is a 401(k) loan a bad idea?

How Do You Pick A Financial Advisor?

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.
7:51 - It’s not just about the financial income.

Finding the Silver Linings

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 cons of a savings account?
6:36 - How do you find a silver lining in job loss?