Episode #13: The Retirement Gridiron

Today’s Prep:

This time of year, you can find football on TV almost every night. Let’s see what we can learn about retirement from the gridiron.

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

Equipping Points:

[00:50] – The Financial Red Zone.

  • On the gridiron, the red zone consists of the last twenty yards before the end zone. If your team is on offense, their goal is to score in the red zone. Conversely, if your team is on defense, they want to make a stand in the red zone. Teams are usually judged on their efficiency in the red zone. In retirement, the red zone consists of the five to ten years leading up to retirement and the five to ten years immediately following your retirement. During that time, you want to plan efficiently for your retirement. This is the time to start developing an income plan and taking some of the risk out of your portfolio. Similarly to a football game, the stakes are high in the retirement red zone. You don’t want to take too many chances and hurt your finances in retirement.

[4:34] – The Hurry-Up Offense. 

  • Football teams deploy their hurry-up offensive strategy on the gridiron when their behind in the game. The trick is to work quickly to erase your deficit on the scoreboard.  In retirement, this might equate to playing catch-up with your savings and investments. Especially if you’ve started saving and investing later in life, you’ll want to make the most of a hurry-up investing strategy. However, you have to be careful. Teams tend to execute poorly if they lack a hurry-up offensive strategy. If you’re adding lots of risk to your nest egg just to get ahead, you could find yourself in trouble if the market takes a dip. There are certainly ways to save more aggressively as you age, but you’ll want to work with your advisor to make sure you have a responsible strategy in place.

Today’s Takeaway:

More From Eric:

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

Subscribe To The Podcast:

Apple Podcasts  -  Google Podcasts  -  Spotify  -  Stitcher  -  iHeartRadio  -  TuneIn

Check out some other recent episodes

Financial Debates – Debt, Mortgages, Life Insurance & Mutual Funds

July 18, 2019

Inside of a mutual funds, the actions of others can impact you. If a lot of people are trying to sell that mutual fund, the manager has to sell some stuff to meet the redemptions and that can negatively impact you.

Read More

Retiring Early: Is It Possible and Is It Right For You?

July 11, 2019

Some may think that retiring early is just a dream, but can you turn this dream into a reality? In this episode, Eric talks about the ins and outs of taking an early retirement. Find out when you can retire and whether you will actually want to stay retired.

Read More

Tending To Your Retirement Garden

July 3, 2019

What does retirement planning have in common with growing a garden? Both need patience, vision, determination, and the proper tools to succeed. Eric Peterson explores all the comparisons on this week’s podcast.

Read More

Retirement Decisions: More Than Just Investments

June 27, 2019

When it comes to planning for your retirement, there’s a lot more to consider than where to invest. Going beyond the data and numbers, you need to consider these areas of your life and what you want them to look like in retirement.

Read More

Presidential Quotes And The Financial World

June 20, 2019

There are a lot of great quotes from past presidents that also apply in the financial industry. Have you heard all of these? How would you apply them to your financial portfolio?

Read More

Mailbag: Retention Bonus or Retirement?

June 13, 2019

As you near the final months or years before taking the plunge into retirement, there are always a few details to work out and questions to ask. Eric answers a few questions from the mailbag about pensions, paying taxes in retirement, and deciding when to walk away from a retention bonus and just retire already.

Read More

Handling What You Can’t Control in Retirement

June 6, 2019

Some things are just out of your hands. In retirement planning there are a lot of things completely out of your control, but if you re-frame your thinking, there is actually something you can do about them. Eric talks through these four areas where you have an opportunity to prepare for the unpredictable.

Read More

Wishful Thinking In Retirement Planning

May 30, 2019

Is your head in the clouds when it comes to retirement? Here are three common phrases people say when it comes to retirement planning. Eric shares whether these mentalities are wishful thinking. 

Read More

Underrated Or Overrated?

May 23, 2019

We’re playing a game to determine what’s underrated and overrated when it comes to a few topics in the financial world (and even a few outside of financial planning). Let us know what you think. 

Read More

Lazy Money

May 16, 2019

Do you have money sitting around without a purpose? We’ll explain the dangers of lazy money, why people have it, and how you can put it to work! Make your money work for you as you plan for retirement.

Read More

Leave a Comment