Retirement Ready

Mailbag: Can I Sell My Home and Just Rent in Retirement?

When it comes to retirement, beyond the numbers, how do you want your life to look? Eric answers three questions from the mailbag this week that go beyond the basic financials and consider the retirement lifestyle and mindset listeners are most interested in pursuing.
 
Read more and get additional financial resources here: https://petersonfg.com/mailbag-can-i-sell-my-home-and-just-rent-in-retirement/ 
 
What we discuss on this show: 
0:47 - Mailbag: Can I sell my house and rent instead in retirement?
4:58 - Mailbag: What happens to my insurance when I get remarried?   
8:08 - Mailbag: Can I just invest in and live off of dividend-paying stocks? 

What Creates A Sense of Urgency With Your Financial Plan?

Have you been procrastinating putting together a financial plan or do you have a sense of urgency? What events may prompt you to act quickly?
 
Read more and get additional financial resources here: https://petersonfg.com/what-creates-a-sense-of-urgency-with-your-financial-plan/ 
 
What we discuss on this episode: 
1:23 - The loss of a job creates a sense urgency.
3:29 - Do you have to make a decision about an early retirement buyout?
4:58 - Have you been procrastinating about retirement coming?
6:28 - Maybe an illness has changed your trajectory. 
7:47 - The death of a spouse changes things.
9:30 - You don’t want a market crash to alter your retirement plans.

Should You Follow Dave Ramsey’s Financial Advice?

Another popular financial radio host and podcaster is Dave Ramsey. What does Eric have to say about Dave’s advice? Does he agree or disagree with the baby step program? Find out on today’s episode of the Retirement Ready podcast.
 
Read more and get additional financial resources here: https://petersonfg.com/should-you-follow-dave-ramseys-financial-advice/ 
 
What we discuss on this episode: 
1:40 - Should you use credit cards?
4:43 - Is whole life insurance a bad idea?
6:16 - What should you invest in?
7:42 - Is it easy to find a mutual fund with a 12 percent rate of return?
9:38 - Should you pay off your home as soon as possible?

Financial Wisdom from Calvin and Hobbes

When it comes to retirement planning, some of the same concepts found in these fun quotes from Calvin and Hobbes can apply. What sort of financial wisdom can you glean from a boy and his tiger? Eric shares how these quotes can coincide with what he teaches clients every day.
 
Read more and get additional financial resources here: http://petersonfg.com/financial-wisdom-from-calvin-and-hobbes/ 
 
What we discuss on this episode: 
1:47 - “Life is full of surprises, but never when you need one.”
4:14 - “When life gives you lemons, chuck it right back.”
5:50 - “There’s no problem so awful that you can’t add some guilt to it to make it even worse.
8:27 - “A day can really slip by you when you’re deliberately avoiding what you’re supposed to do.” 

Can You DIY Financial Planning?

When it comes to weighing out the decision between working with a financial advisor and doing it yourself, what are common reasons why people consider DIY? Are these reasons valid or should you always work with a financial advisor?
 
Read more and get additional financial resources here: http://petersonfg.com/can-you-diy-financial-planning/ 
 
What we discuss on this episode: 
1:13 - What would you say to, “It’s not that hard, I can do it”?
2:54 - “Having a financial advisor costs too much.”
4:31 - “Financial advisors or a trust are just for rich people and I’m not rich.” 
6:46 - “If I ignore it, it will all work out in the end.”

Translating Financial Jargon

Do you know the difference between large cap and small cap funds? What are basis points? This episode will discuss various financial jargon to help translate what these really mean.
 
Read more and get additional financial resources here: http://petersonfg.com/translating-financial-jargon/ 
 
What we discuss on this episode: 
0:47 - Sometimes financial jargon comes up.
1:30 - What is asset allocation?
2:55 - What is your risk tolerance?
5:47 - What are basis points?
6:26 - What’s small cap, mid cap, and large cap?
7:22 - What are qualified accounts?

Financial Fill in the Blank

What’s the best way to not run out of money in retirement? What are most people worried about when retirement planning? Eric fills in these blanks in today’s episode.
 
Read more and get additional financial resources here: http://petersonfg.com/financial-fill-in-the-blank/ 
 
What we discuss on this episode: 
0:48 - The best way to not run out of money is to____.
2:40 - The stock market has the ability to____.
4:13 - Run the other way if your advisor tells you to____.
6:26 - When someone comes to visit for the first time, they’re most likely worried about ____.
7:50 - The most common mistake retirees and pre-retirees make is ____.

What to Know About Biden’s Initial Executive Orders

President Biden has made a number of executive orders in his time in office. What do they have to do with your financial plans? How might they affect you economically? 
 
Read more and get additional financial resources here: http://petersonfg.com/what-to-know-about-bidens-initial-executive-orders/  
 
What we discuss on this episode: 
0:47 - Biden has made several new executive orders. How will these impact us?
1:16 - Moratoriums extended on evictions, foreclosures, and federally guaranteed mortgages.
2:58 - Student loan interest payments on pause.
3:50 - The Keystone pipeline permit was revoked.
7:21 - Regulations are being reinstated.
8:44 - Minimum wage could be raised.

Mailbag: Retirement Planning With Separate Bank Accounts

From managing your income as a contract employee to managing your income in retirement, Eric answers three questions from the mailbag in today’s episode of the podcast.
 
Read more and get additional financial resources here: http://petersonfg.com/mailbag-retirement-planning-with-separate-bank-accounts/ 
 
What we discuss on this episode: 
0:47 - Mailbag: Should I switch to work as an independent contractor?
3:44 - Mailbag: Can we have separate bank accounts but still plan for retirement together?
5:33 - Does having separate accounts make it harder to plan for retirement? 
6:35 - Mailbag: How can I lessen my tax burden in retirement?

Estate & Legacy Planning FAQs

Have you recently inherited assets or one day expect to? How can you prepare your estate in a way that makes it easy for your heirs later on? We’ll look at all sides of legacy planning on this episode.
 
Show notes and additional financial resources here: http://petersonfg.com/estate-legacy-planning-faqs/ 
 
What we discuss on this episode: 
0:46 - Mailbag: Should my parents sign over their house to me before they die?
4:05 - Mailbag: Is an inherited taxable account considered capital gains?
5:40 - Mailbag: How do I change a beneficiary designation for an ex-spouse to me?
8:35 - Mailbag: Is it okay to have two separate financial advisors?