Retirement Ready

What Game Night Can Teach Us About Financial Planning

What do Monopoly, Trivial Pursuit, Candy Land, and Risk have in common with retirement planning? More than you might think! In this episode, Eric breaks down the surprising financial lessons hidden in classic board games, offering valuable insights to help you navigate your retirement strategy.
From the asset management lessons of Monopoly to the strategic thinking required in Risk, these games mirror real-life financial decisions. Just as in Trivial Pursuit, where players must collect wedges in different categories, a well-rounded retirement plan requires knowledge of investments, Social Security, Medicare, and tax strategies. And if you’re relying on luck—like in Candy Land—rather than a solid financial plan, you might be in for a rude awakening.
Eric also explores how risk management and retirement readiness reviews can give you a clearer financial picture, helping you avoid costly missteps.
Here’s some of what we discuss in this episode:
🎩 Monopoly & Money Management – Avoid financial ruin by understanding asset allocation and risk.
🧠 Trivial Pursuit & Retirement Strategy – Build a well-rounded plan with investments, Social Security, and Medicare.
🎲 Candy Land & Investing Mindset – Luck won’t cut it—why strategic planning beats wishful thinking.
⚔️ Risk & Financial Defense – Balance offense and defense in your investment approach.
 
Get in touch with the Peterson Financial team: https://petersonfg.com/

Mailbag – Upsizing, Financial Advisors & Business Owner Planning

Join us as we answer questions about the challenges of downsizing, the emotional aspects of planning for family gatherings, and the realities of transitioning into a financial advisory career. Whether you're a grandparent considering a new home or a professional seeking a career change, this episode will hopefully cover something that might impact your retirement.
Here’s some of what we discuss in this episode:
Is upsizing in retirement to accommodate family gatherings a crazy idea?
What advice would Eric give to someone thinking about becoming a financial advisor?
What should business owners focus on if they haven’t been saving in a 401k or retirement account?
Get in touch with the Peterson Financial team: https://petersonfg.com/

Planning for Unique Situations in Retirement

On this episode, Eric dives into the complexities of crafting a personalized retirement strategy. While many face the same general retirement concerns, each individual’s situation is unique, requiring tailored solutions.
We’ll explore real-life scenarios like age gaps and separate finances, highlighting the specific challenges people encounter when planning for the future.
Here’s some of what we discuss in this episode:
What changes with planning when you and your spouse have an age gap?
The things you have to plan for if you want to retire early.
How we help couples who keep their finances separate.
Rebounding from divorce and building your finances back up for retirement.
Get in touch with the Peterson Financial team: https://petersonfg.com/

Planning for Kids, Grandkids, & Your Future

Anyone with children knows that they will have a huge impact on your money, and retirement planning is no different. There are family dynamics that impact decisions you’ll need to make during the planning process.
As many nearing retirement age are discovering, adult children and grandchildren can significantly influence financial strategies, making it crucial to understand how to navigate these relationships effectively.
Here’s some of what we discuss in this episode:
When should you make sure your kids are no longer ‘on the payroll’?
Making the decision to prioritize retirement versus helping your children with college funding.
The best ways for grandparents to help with their grandchildren’s education costs.
Is it okay to count on your children to help take care of you as you age?
Get in touch with the Peterson Financial team: https://petersonfg.com/

Financial Planning Conversations for Couples

Financial advisors wear a lot of hats, but one role you probably didn’t expect us to play is a counselor or therapist. That happens more than you would imagine because we help couples communicate about money and have conversations that they might not normally have at home.
This episode is focused specifically on the planning we do with couples with insights on how we help them navigate tricky conversations about money and retirement.
Here’s some of what we discuss in this episode:
The things that married couples tend to disagree about most when it comes to money.
What financial matters do couples do a poor job communicating about?
Why you want to have conversations about how you want to spend your time in retirement.  
What should you discuss as a couple before meeting with a financial advisor?
Get in touch with the Peterson Financial team: https://petersonfg.com/

Is Your Retirement Based on Wishful Thinking?

Retirement is often viewed as a golden era of relaxation and enjoyment, but it can also be riddled with misconceptions that can lead to financial pitfalls. Many people fall into the trap of wishful thinking when it comes to what they expect will happen in retirement, but a successful retirement isn’t built on hope and assumptions. In this episode, Eric sheds light on these common myths and offers practical strategies for effective retirement planning.
Here’s some of what we discuss in this episode:
Can retirees live off the interest generated by their investments in retirement?
Many people think they’ll be in a lower tax bracket in retirement but is that reality?
Once you stop working, many expenses will no longer be necessary, but does that mean you’ll end up spending less overall in retirement?
People are often shocked at the cost of healthcare when it comes out of their own pocket.  
Get in touch with the Peterson Financial team: https://petersonfg.com/

Spending With Confidence in Retirement

Retirement is a time for relaxation, exploration, and enjoying the fruits of years of hard work. However, for many, the transition from saving to spending can be a daunting challenge. It’s a common dilemma that we’ll discuss in this episode while offering up insightful strategies to help retirees spend with confidence.
Here’s some of what we discuss in this episode:
Shifting from the saving mindset of your working life to the spending mindset of retirement.
How proper planning can build up confidence for retirement.
The accumulation vs. distribution phases.
Not being overly confident.
Get in touch with the Peterson Financial team: https://petersonfg.com/

Watch Out For These Financial Half Truths

In the latest episode of Retirement Ready Podcast, Eric pulls back the curtain on some of the most common financial half-truths that many retirees and investors encounter. As someone gearing up for retirement, it's crucial to have a clear understanding of these financial nuances to ensure your strategy is both effective and resilient.
Here’s some of what we discuss in this episode:
While the market will go up in the long run, a downturn when you need to sell stock can be a major issue.
Paying off a mortgage early vs. investing more in your retirement.
Diversification is important, but it is not the only thing you need for a successful retirement.
Bonds reduce risk, but they’re not risk-free.
Get in touch with the Peterson Financial team: https://petersonfg.com/

Answering Common 401K FAQs

The 401k is the most common way that people save for retirement, which is why we get a lot of questions on the show and in the office about this employer-sponsored plan. You want to take full advantage of your 401k when you’re working, but there are some intricacies that you might not even be aware of. This episode will tackle those frequently asked questions and break down the areas that people are most curious about.
Here’s some of what we discuss in this episode:
Should you take advantage of employer-offered 401K advisory services?
Should you put more into your 401K than the company match?
Are 401K loans a good idea?
When should you rollover a 401K into a Roth IRA?
Get in touch with the Peterson Financial team: https://petersonfg.com/
 

Mistakes People Make When Choosing An Advisor

When you’re ready to start working with a financial advisor, how do you find the right person to help you reach your financial goals? Not every advisor is the same but most people don’t really know what to look for. This episode is all about helping you ask the right questions and avoid the mistakes that people commonly make when they choose a financial advisor.  
Here’s some of what we discuss in this episode:
Different financial tools are used for different goals that people have.
Discussing fee structure with a prospective advisor.
Avoiding putting too much trust in big name brands.
Not being afraid to ask questions.
Making sure that you are working with somebody who has the right specialty.
 
Get in touch with the Peterson Financial team: https://petersonfg.com/