Retirement Ready

Flying Toward Retirement

Any time you fly in a plane, there’s a lot going on as you travel to your destination. How does this relate to your financial plan? We compare the experience of flying to preparing for retirement in today’s episode.
 
Show Notes: http://petersonfg.com/what-flying-can-teach-us-about-retirement/ 
 
Today's Rundown: 
2:21 - Flying requires a flight plan ahead of time.
3:59 - You need to know in advance what your income (and taxes) will look like in retirement.
6:12 - When you’re thinking about a retirement plan, it also includes what to do with your time.
7:42 - When you experience turbulence, it can cause you to panic.
10:11 - You can’t get there alone.

What Holds You Back From Breaking Up With A Financial Advisor?

Breaking up is hard, but sometimes you stay in a relationship too long for the wrong reasons. Is your relationship with your financial advisor working as it should? Or are you using some of these common excuses to stay with the wrong advisor?
 
Show Notes and Additional Resources: http://petersonfg.com/what-holds-you-back-from-breaking-up-with-a-financial-advisor/ 
 
Today's Rundown: 
1:40 - My portfolio hasn’t done well, but my advisor seems nice.
3:49 - I know them through...a family friend, college, a neighbor, my parents.
4:24 - I feel confused after meeting with my advisor.
7:49 - I get a birthday card, but don’t get good communication otherwise.

7 Deadly Sins of Financial Planning

Like in all areas of life, it’s important to be cognizant of your blind spots and sinful tendencies. When it comes to the seven deadly sins, how do those apply in your financial plans?   
 
Show Notes: http://petersonfg.com/7-deadly-sins-of-financial-planning/ 
 
On This Episode: 
1:07 - How pride gets in the way of your finances. 
3:48 - Envy
6:12 - Wrath against your job, the market, or your financial situation can cause long-term consequences.
7:11 - Greed may cause you to look for a big payday…but then lose it.
9:40 - Sloth behavior can make establishing a retirement plan feel insurmountable.
11:13 - Gluttony is too much of one thing when you need to diversify.
13:37 - Lust may look like lofty goals, but it’s important to have realistic goals.

Let's Play Financial Jeopardy

Financial for 200! Financial for 400! Are you ready to match the questions with the statements like in Jeopardy when it comes to your knowledge of financial terms? Which of these currently impact your retirement plan? 
 
Show Notes: http://petersonfg.com/lets-play-financial-jeopardy/ 
 
On This Episode: 
1:18 - This financial product has given a bad name to some of its cousins.
3:50 - This requires a financial advisor to put his client’s best interests before his own.
4:53 - What is the difference between a fiduciary and a broker?
6:16 - This financial phenomenon is thought to be imminent or by others off in the distance.
9:14 - This is mandated by the IRS and force retirees to drain retirement accounts.
11:04 - This common staple of retirement is quickly becoming scarce.

Getting Your Health And Wealth In Shape

Are you feeling yourself slide into a bit of a rut? Need more tone and discipline in your life? Getting your body in shape can look a lot like getting your finances in shape.
 
Show Notes: http://petersonfg.com/getting-your-health-and-wealth-in-shape/
 
Today's Rundown: 
2:05 - You can’t just read a book and know all there is to know.
4:04 - Doing it on your own and doing it poorly could make things worse.
5:04 - Start with some goals.
6:56 - Don’t counteract your progress with bad habits.
8:35 - Think about the long-term and the value an advisor may bring.

Answering The 401(k) FAQs

Most likely, at some point or another, you’ve had the option of contributing to a 401(k). But do you know how to really leverage it? This episode will tackle some of the frequently asked questions when it comes to your 401(k).
 
Show Notes: http://petersonfg.com/answering-the-401k-faqs/ 
 
Today's Rundown: 
1:51 - Should I use the company-provided advice on my 401(k) plan for a low fee?
3:21 - Should I contribute as much to my 401(k) as I can or just up to the match?
6:01 - Should you use target date funds?
8:29 - Is it a bad idea to take out a loan against your 401(k)?
9:53 - When should I take money out of my 401(k) and roll it over to an IRA?

Understanding How Your Feelings Impact Your Financial Decisions

When you make a financial decision, does it start with looking at the numbers or asking the question, “How do you feel about that?” When should your feelings overrule the numbers, and what areas of your plan are most likely swayed by feelings and emotions?
 
Show Notes: http://petersonfg.com/understanding-how-your-feelings-impact-your-financial-decisions/
 
Today's Rundown: 
1:06 - Feelings get tied up in the family home.
3:36 - Make sure you can age in place and have the proper support around you.
4:06 - How important is it to you to leave a financial legacy? 
6:25 - Do you want to know the fine details of your financial plan?
8:41 - How you feel about the market volatility can impact your decisions.

Planning Your Road Trip Towards Retirement

Think back to your last road trip--what did you do to prepare? Chances are you didn’t suddenly jump in the car and then a few hours (or days) later simply arrive. Yet this is what some people think retirement looks like. Instead, you’ve got to plan ahead and know where you’re going and how you’ll get there.
On this episode: 
1:18 - Planning a road trip is like planning for retirement.
1:37 - Decide where you’re going.
3:57 - Determine the route.  
7:16 - Consider who you’re listening to.
9:55 - Know when to use cruise control.
Show notes and additional resources: http://petersonfg.com/planning-your-road-trip-towards-retirement/

Let's Talk About The “A” Word: Annuities

We’ve all heard about annuities, but there’s still tons of confusion about them. What are the different types of annuities? And are any of them worth having?
On this episode:
1:20 - There are four types of annuities.
2:58 - Immediate annuities are like a pension--payment for the rest of your life.
4:04 - The downside of immediate annuities.
5:05 - A fixed annuity is like a CD.
6:10 - The variable annuity has the worst connotation of the four types of annuities.
9:51 - Finally, the fixed index annuity interest rate is dependent on the movement of an external market index.
Show notes and additional resources: http://petersonfg.com/lets-talk-about-the-a-word-annuities/

Should You Adhere To Conventional Financial Wisdom?

What common financial advice have you heard that is actually worth following? Do these concepts provide a better financial future for you and your family? Or are these ideas more damaging in the long-run?
On this episode:
1:03- Real estate is said to appreciate in value. But is it a good investment?
4:22- There’s good debt and bad debt, and mortgage is considered good debt. Is it though? 5:42 - You can’t finance your retirement.
6:50- Should you pay off the house at an accelerated rate?
8:50- If your investments aren’t doing well, should you try something else?
Get the full show notes and additional resources by clicking here: http://petersonfg.com/should-you-adher…financial-wisdom/