Posts by Eric Peterson
March Madness & Your Money: Don’t Bust Your Retirement Bracket
Filling out a March Madness bracket is fun, but when it comes to your retirement, you can’t afford to treat it like a bracket pool. Upsets, bold picks, and emotional calls make for a good time, but the same principles can wreck a financial plan if you play it the same way. In this episode, Eric connects the dots between tournament chaos and retirement strategy, and why your financial game plan needs more discipline than your Final Four.
Read MoreWhat Mr. Rogers Can Teach Us About Retirement Readiness
Fred Rogers spent decades teaching life lessons through kindness, patience, and thoughtful reflection. While his words weren’t meant to be financial advice, many of his most memorable quotes offer surprising wisdom when applied to in-vesting and retirement planning. Today, Eric takes a few classic Mister Rogers quotes and connects them to the realities of retirement planning.
Read MoreDo You Have These Blind Spots In Your Retirement Plan?
Many people can have a couple of “blind spots” so to speak when it comes to their retirement plans. Do you worry you may not be accounting for everything you might need for your retirement? Then today’s episode is perfect for you!
Read MoreThe Importance of Preventative Care
Preventative care isn’t just for your health; it’s essential for your financial well-being too. By consulting a financial advisor early and often, you can avoid financial distress and make informed decisions that lead to a secure and fulfilling retirement. Many people will put it off for fear they will be told something they don’t want to hear or because of the perceived costs of financial advisors.
Read MorePreparing for Retirement like Noah’s Ark
Financial planning involves a lot of planning ahead, much like Noah did when he started building the ark long before the rain began. This metaphor serves as a powerful reminder that proactive planning is essential for weathering financial storms. Eric highlights that while we can’t predict events like market crashes or global pandemics, we can prepare for them by stress-testing our financial plans.
Read MoreRetirement Income
When planning for retirement, one of the most critical aspects to consider is your income. But what does this mean, and how can you ensure you have enough income to cover your needs and desires?
Read MoreRetirement Checklist
Retirement is a significant milestone that requires careful planning and preparation. In today’s podcast, Eric shares a comprehensive checklist to ensure you’re fully prepared for your golden years.
Read MoreFinancial Wisdom from Mark Twain
In the latest episode of the Retirement Ready Podcast, Eric invites us to explore the timeless wisdom of Mark Twain and how it applies to modern financial planning. Mark Twain, known for his wit and keen observations, offers quotes that are surprisingly relevant to today’s financial landscape. Eric takes these quotes and translates them into practical advice for those planning their retirement.
Read MoreUnderstanding Bonds in Today’s Market
Are bonds really the safe investment we’ve always been told they are? What percentage of assets should a retiree or pre-retiree hold in bonds? In today’s episode, Eric addresses some of his most frequently asked questions about the world of bonds…
Read MoreUnderstanding Your Financial Statements
Financial statements can often feel like a foreign language, filled with jargon and numbers that seem to have little relevance to your everyday life. However, understanding these documents is crucial for effective retirement planning. In the latest episode of the Retirement Ready Podcast, Eric breaks down the essentials of reading and interpreting your financial statements.
Read More401(k) Mistakes
Your 401(k) likely plays a major role in your retirement savings. That’s why it’s important that it’s set up and functions in the way that’s most beneficial to you. Following our last podcast about beneficiary mistakes, now we focus on common mistakes people make with their 401(k).
Read MoreRetirement Planning Statistics
Retirement is closer than you think, but are you ready? With a staggering number of people lacking confidence in their retirement savings, Eric shares the misconceptions people have and what mistakes can derail someone’s financial future. Many people feel inadequate when it comes to what they have saved in their nest egg, uninformed about the pitfalls of target date funds, and unprepared about the reality of leaving the workforce earlier than expected.
Read MoreMailbag: Should I Fire My Broker?
Navigating life’s financial crossroads can be tricky, especially when it involves your financial future. In this episode of Retirement Ready, Eric addresses these complex issues head-on. How do you best evaluate your broker and your investment performance against the S&P 500? Eric says a lot of that comes down to setting expectations and understanding the risks. Then, Holly wants to know what to consider before making a midlife career change.
Read MorePutting It Off
We are all guilty of procrastinating from time to time. Financially speaking, though, this can get you into a lot of trouble. Let’s talk about the areas where it might feel better to kick the can down the road.
Read MoreCommon Scams to Avoid
Americans over 60 have lost more than $3.1 billion in various forms of fraud and scams in the last 12 months! Today we talk through some of the common scams people unfortunately fall for and how you can stay vigilant against it.
Read MoreDivorce Mistakes
Unfortunately, divorce happens. When it does, no one wants to make costly financial mistakes amidst an already stressful time. Today, we talk about the mistakes that can happen and how to avoid them when it comes to dividing up your assets with a spouse.
Read MoreUses for Life Insurance
When you’re younger, life insurance is often thought of as an income replacement as needed. But as you get older and into retirement, you might find other uses for life insurance. When thinking ahead for your estate and how it passes to beneficiaries, life insurance can prove to be a useful tool. Currently, the proceeds from life insurance are tax-free. How does that change how you include it in your financial plan? Eric outlines some of the options and benefits life insurance can provide.
Read MoreUnderstanding Financial Risk
What kind of risks do you take in your financial life? As you get less comfortable with things like climbing up ladders and riding on skateboards, you might also become less financially risky. When you enter retirement, how you view your money in the market changes significantly from your working years. It’s important to look at your portfolio to ensure your investments match your risk tolerance.
Read MoreThe Good Old Days
Why is retirement planning different than the “good old days” that our parents and grandparents experienced? Things like pensions, Social Security, and even RMD age have changed. Is your financial plan set up accordingly or is it in need of some changes to match?
Read MoreMailbag: When Should I Retire?
When is the perfect time to retire? One question from the mailbag asks whether retiring now or in two years will make a big difference. Eric explains what you’ll need to consider and what differences you might encounter from a work and lifestyle standpoint. Then, he answers Nancy’s question on how important it is to have a financial advisor in retirement.
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