Episode #2: Fill In The Financial Blanks

Today’s Prep:

Avoid any gaps in your financial plan. Join us as Eric fills in the financial blanks in your retirement.

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

Equipping Points:

1:30 – The Best Way To Avoid Running Out Of Money In Retirement Is To _______.

  • Plan For It. However, this is harder than it seems. Find income streams that don’t end until you end. It’s easy to think you can’t control whether you’ll run out of money, but you really can. Build an income plan with your advisor that uses your Social Security, a possible pension, and old 401(k)s to generate a lifetime of income.

2:53 – The Stock Market Has The Ability To ________. 

  • Create Wealth And Destroy Wealth. Yes, we acknowledge this is basically saying the market goes up and down. Over the long-term the market has proven its ability to accumulate wealth (Click here, and select the “Max” option to view the S&P 500 over time). However, it’s exceptionally volatile over the short-term (Click here, and select the “YTD” option to view the S&P 500 this year), and the market has the ability to destroy wealth. The market is a wonderful tool to build wealth, but it’s not good for generating income. When you retire, you want safer ways to provide consistent income. Wall Street is often accompanied by layers of fees and volatility.

6:51 – When Someone Comes To Visit, They’re Likely To Worry About ________.

  • This used to be Market Crashes. Folks were incredibly fearful of a repeat of 2008. However, we now see most folks worried about Healthcare. People are worried they won’t be able to find affordable care in retirement. In fact, some folks are so worried, they’re waiting until 65 to retire, simply so they can jump straight from their own insurance to Medicare. Unfortunately, it seems retirees were some of the hardest hit by the Affordable Care Act. They want to retire at 62, but now they’re seeing the increased line item in their budget to cover insurance, and they’re waiting to retire as a result. Healthcare is a blank to plan ahead for in retirement. Prepare yourself to face rising costs in the future.

Other Preparation:

  • 4:47 – If Your Advisor Tells You The Market Always Goes Up, Run The Other Way.
  • 10:07 – Retirees Don’t Have “Needed” Money Coming From Predictable Sources.
  • 12:33 – We’re Here To Help.

Today’s Takeaway:

More From Eric:

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

Subscribe To The Podcast

Check out some other recent episodes

Episode #16: Retirement Checklist

December 6, 2018

Much like a pilot going through his pre-flight checklist before takeoff, it’s important you examine your pre-retirement checklist before walking away from a paycheck. Eric explains the items on that list.

Read More

Episode #15: Understanding Your Statements

November 29, 2018

Your financial statements are confusing. They contain all sorts of jargon and puzzling graphics. On this edition of the podcast, Eric enters the fray and helps to clear up the confusion. 

Read More

Episode #14: Grandma’s Financial Wisdom

November 22, 2018

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. 

Read More

Episode #13: The Retirement Gridiron

November 15, 2018

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. 

Read More

Episode #12: To Agree Or Disagree

November 8, 2018

Join us for a game of Agree or Disagree. Discover whether Eric agrees with popular statements about finances and retirement planning.

Read More

Episode #11: Financial Warning Lights

November 1, 2018

Much like the lights on your dashboard that indicate issues with your car, there are indicators in your financial life that highlight problems in your portfolio. Join us as Eric serves as our financial mechanic.

Read More

Episode #10: Reading The Fine Print

October 25, 2018

Many investments promise enticing perks and large returns. They’re usually too good to be true and inundate you with fees. Avoid a headache by reading the fine print. 

Read More

Episode #9: Retirement Procrastination

October 18, 2018

Procrastination is dangerous as it pertains to your retirement. Don’t let these lines of thought keep you from planning your financial future. 

Read More

Episode #8: Being Between Jobs

October 11, 2018

Finding yourself between jobs can be frustrating, but it presents opportunities. Consider the challenges and opportunities that accompany an employment gap.

Read More

Episode #7: Financial Pop Quiz

October 4, 2018

Today’s Prep: Eric takes a multiple choice pop quiz about retirement planning. See how his answers stack up with your own. (Click the featured times below to jump forward in the episode) Equipping Points: 1:29 – At What Age Should You Start Saving For Retirement?  The answer we’re really looking for is, “As soon as…

Read More

Leave a Comment