Posts by Eric Peterson
Life Insurance 101
While no one really likes to talk about it, life insurance can be an important part of your financial plan. We talk about why people cringe when they hear the term, who most needs it, and why you might want to reconsider your preconceived notions about it. Life insurance sometimes gets a bad rap, but it can be a powerful tool. If you care for someone else and you hate taxes, look at life insurance.
Read MoreFinancial Wisdom from Ron Swanson
Today, we take some quotes from the gruff but beloved Parks and Recreation character, Ron Swanson. He’s got a lot of dry sarcasm that can be hilarious, and surprisingly, can teach us a thing or two about financial planning.
Read MoreOutdated Financial Strategies
Some of the strategies of yesteryear might not be the right strategy for you today. We talk through different financial strategies people have used and what makes the most sense for your financial plan.
Read MoreWhat Is Non-Correlated Income?
The term might sound fancy, but non-correlated income doesn’t have to be confusing. Ask, which one of these is not like the other? In retirement planning, you want to have some income that is not dependent on something else, such as the stock market.
Read MoreFact or Fiction: Financial Situations in Retirement
We play a game of fact or fiction when it comes to these five financial statements. Eric explains which one is which and shares why these ideas are true or false. As you make a financial plan, it’s crucial to base it on facts and reality so you can best prepare for retirement.
Read MoreAvoiding Possible Financial Disasters
No one wants to find themselves in a financial disaster. Having a plan is a great way to start. On today’s show, we talk about simple strategies that can make a huge difference in your financial future.
Read MoreWhat Retirement Statistics Tell Us
Let’s talk about some interesting retirement statistics and hear Eric explain some of the reasons behind them.
Read MoreReasons People Don’t Visit a Financial Advisor
Why wouldn’t someone want to work with a financial advisor? In today’s episode, we’ll discuss some common reasons why someone might hesitate to work with one. To some, having an advisor sounds like added cost or something only for the rich. Instead, the value you receive from an advisor and having a customized financial plan could make all the difference in your financial life.
Read MoreMailbag: Should I Help My Parents with Long-Term Care Costs?
For those in the sandwich generation, you may be wondering how much to help aging parents who weren’t prepared for long-term care costs or your children trying to pay for college. Is it wise to step up financially to help them or are you better off focusing on your own retirement savings? This dilemma is a common one and something a financial advisor can help you to navigate realistically. When you come through a planning process, you might discover an opportunity to help your parents or other family members without hurting your financial future.
Read More3 Qualities of Money
All money has one (or two) of these three qualities: safety, liquidity, and growth. Eric shares which types of accounts carry these qualities for your money and why you should have a mix of each quality. What are the benefits and risks associated with each one?
Read MoreAwkward Financial Conversations
As a financial advisor, Eric has experience navigating some awkward conversations when it comes to managing money. Whatever the dynamic, you want to work with a financial advisor and fiduciary who can guide you through the situation.
Read MoreKnowing Your Money Mindset
When it comes to money, there are a variety of different stances and mindsets people have. Eric has seen a bit of everything in his years as a financial advisor. In this episode, he talks through some of the mindsets he frequently sees and how he advises people to best approach the mindset they are in with money.
Read MoreThe Different Types of Financial Risk
Life always has risk, and there are several types of financial risk. Do you know how much risk you have in your portfolio? Understanding the different types of risk may help you understand what kind of risk you are exposed to.
Read MoreGood News, Bad News
Sometimes you get good news and bad news at the same time. Which one will outweigh the other? More times than not, you are better off than you expected but you won’t know until you ask a professional. In this episode, we talk through a number of financial scenarios that can bring a bit of both good and bad.
Read More401(k) Considerations
A 401(k) is a highly valuable, widely used investment asset for many people. But what should you know when you set one up or contribute to one? In this episode, we’ll talk through some of the things you’ll want to consider when using this powerful investment tool.
Read MoreGenerational Challenges
Every generation has had a different experience and are currently at a different life stage. In this episode, Eric talks through some of the financial challenges that Millennials, Gen X, and Baby Boomers face. Understanding and acknowledging these different challenges can help you better plan according to where you are in life.
Read MoreAdvisor Pet Peeves
We all have pet peeves, so in today’s episode we talk about some pet peeves financial advisors have. Eric shares his experience as a financial advisor and sheds light on some things in the industry that can negatively impact both clients and professionals. From cookie-cutter financial plans to hidden fees, these things can really rub you the wrong way.
Read MoreGrading Your Financial Competency
Financial competency is something that is not taught nearly enough. As an advisor, Eric focuses on teaching not only strategic investing decisions but also the basic foundations of money. It starts by knowing how much you have. Then, ask yourself, how much do you really spend? It’s easy to spend more than you realize, so getting that in check can make a huge difference.
Read MoreFinancial Lessons from Yogi Berra
What kind of financial wisdom can we take from a baseball player’s quotes? Quite a bit! Today’s quotes from Yogi Berra have a bit of humor and a lot of truth when it comes to your financial plan. From navigating annuities to planning for inflation, Eric shares how these quotes can bring a lot of meaning and understanding to our finances.
Read MoreMailbag: Should I be Worried about Investing in a Bank?
You may have seen the news about some bank issues with banks like Silicon Valley Bank. Is that cause for concern? If you have money in the bank, Eric explains how much is covered and what you can do to protect yourself. With any investments you make, realize which of the three components you’ll have: safety, liquidity, or growth.
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