A Perfect Match: Tennis and Retirement Planning

Today’s Prep:

Ready to ace your retirement plans? Let’s talk tennis and see how much it relates to your financial plans on today’s show.

(Click the featured times below to jump forward in the episode)

Equipping Points:

What can we learn about financial planning in the game of tennis? Quite a bit actually! Next time you hit the courts this summer, you can think about how tennis and financial planning relate.

For starters, when you play singles the court is a little different than when you play doubles. You have a bit more space when playing doubles. Similarly, your financial plan can look a little different when you’re married. Two incomes and double the assets can be nice while also in a lower tax bracket. If you’re single, divorced, or widowed, there will be a different set of rules and income. You’ve got to plan for this, so consider what happens when one spouse passes away.

Just like all courts aren’t the same, financial advisors aren’t all the same. Some courts are clay or grass…or if you’re unlucky like Marc, full of holes. Financial advisors have similar tools but play differently to use the right tools to their strengths. Clients also have different needs depending on their age, expenses, income, and goals.

Finally, you can better control the game if you’re holding a serve. In your financial plan, what can you control? You can’t control the stock market or inflation or taxes, but you can control how you plan for it. Control what you can control and you’ll perform better, instead of worrying about the things you can’t control.

Your serve! Listen to the entire episode or skip ahead to the timestamps below to learn more. Then reach out to Eric and his team to get your financial game in gear.

[0:47] Eric reminisces about playing tennis back in the day.

[1:49] The court is different for singles vs. a doubles match.

[5:19] Financial advisors are different.

[8:14] What can you best control in your financial plan?

 

Today’s Takeaway:

Different players on different surfaces perform better. We are in the space of people near retirement or in retirement on the distribution and preservation stage of their lives, not on the accumulation stage.”

-Eric Peterson

Related Resources:

Building a Plan for the Long Haul

Playing the Retirement Game Show

Understanding Financial Feelings

More From Eric:

The host: Eric Peterson - Contact - Call: (515) 226-1500

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