Today’s Prep:
There are probably lots of sayings you remember your grandmother using as you grew up. Find out how her musings might be applied as financial wisdom.
Equipping Points:
1:10 – Grandma’s Financial Wisdom: When It Rains, It Pours.
- Sometimes, you just get a lot of bad news. Market volatility, companies tanking, and overseas banking drama of some sort will always fill the news networks. It’s important not to panic at the first sign of a shaky market. Our investment decisions shouldn’t be based upon our emotions. Instead, we need a sound investing strategy and a well-diversified portfolio. If you know the volatility is going to keep you up at night, consider taking some of the risk out of your portfolio all-together. Invest in less risky options.
3:19 – Grandma’s Financial Wisdom: You Never Know.
- You never know what’s going to happen on Wall Street. After all, our only certainties in life are death and taxes. That’s why you need a financial plan to provide you with a sense of peace amidst the market roller coaster. Going back to taxes, you can even employ tax strategies to mitigate the tax burden on your portfolio. While we can’t possibly know what’s going to happen in Washington either, we do know taxes are at historic lows. This means there’s a good chance tax rates will increase in the future. Account for your tax burden now to save in the future.
5:39 – Grandma’s Financial Wisdom: I Heard It Straight From The Horse’s Mouth.
- This is a bizarre saying, but it basically implies you should get your information straight from the source. In our business, we often play this game of “Call The Company,” and this simply means we want to get information about certain products directly from the company who sold them. Rather than going through a broker, call up the company who sold the annuity or other insurance product to the broker in the first place. That’s the sure way to determine what you’re paying in fees and commissions on a product.
Other Preparation:
- 8:29 – Grandma’s Financial Wisdom: If Your Friends Jumped Off A Bridge, Would You Do It Too?
Today’s Takeaway:
“There’s all sorts of financial noise out there. Get your information straight from the source, and put together a comprehensive plan that will help you navigate the ups and downs of the investing world. – Retirement Ready“
Subscribe To The Podcast:
Apple Podcasts - Google Podcasts - Spotify - Stitcher - iHeartRadio - TuneIn
Check out some other recent episodes
Do 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 More
Inside Out: How We Can Look at Finances Through the Characters of Pixar’s Latest Flick
There can be a lot of emotions when it comes to investing and planning for retirement. And what better way to discuss those emotions than through the characters of Pixar’s latest film, Inside Out 2?
Read More
The 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 More
Preparing 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 More
Retirement 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 More
Retirement 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 More
Financial 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 More
Understanding 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 More
Understanding 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 More
From Graduation to Retirement
This one goes to the grads! Whether you know someone graduating high school, college, or even preschool, graduation marks a new stage and season in life. Similarly, retirement is a new chapter in life. It’s a time of change, celebration, and sometimes, uncertainty. On today’s show, we talk through the similarities between leaving school and entering retirement.
Read More