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

Today’s Prep:

This or that? Depending on who you listen to, you may have heard a variety of opinions on these financial debates. Eric shares his thoughts on debt, mortgages, life insurance, and mutual funds.

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

 

Equipping Points:

[1:06] – IN THE NEWS: STUDENT LOAN DEBT

  • Bernie Sanders wants to forgive about $1.6 trillion in student loan debt. Is this a good idea or realistic?
  • Who is going to pay for it?
  • The first rule you should learn about taking out loans.
  • Eric gives his take on the topic.

[3:55] – PAY OFF DEBT OR BUILD UP SAVINGS?

  • Both are important but here’s how you treat yourself.
  • Strategy you should use in your life.

[5:00] – KEEP A MORTGAGE OR PAY OFF HOUSE AS QUICKLY AS POSSIBLE

  • Why do people say mortgage debt ‘better’ than other types of debt?
  • Eric shares a client example of someone wanting to pay off their mortgage with retirement account money.
  • Is it advantageous to refinance?

[7:11] – TERM LIFE INSURANCE VS PERMANENT LIFE INSURANCE

  • What is term life insurance?
  • When would term life benefit you?
  • What type does Eric carry?
  • What is permanent life insurance?
  • Both have advantages and disadvantages.

[8:54] – MUTUAL FUNDS: GOOD OR BAD?

  • What can mutual funds provide and are they still as solid as they used to be?
  • Are exchange-traded funds better?
  • With mutual funds, the actions of others can impact you.

 

Related Resources:

PODCAST: 3 Questions You Should Ask a Potential Advisor

PODCAST: If Retirement Were Like a Game Show

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

How To Ask Better Financial Questions

August 15, 2019

Asking questions is always a good thing. The more you ask, the more you understand. But sometimes you don’t get the answer you need until you ask the right question. These four common financial questions are a bit better when they are rephrased and reconsidered.

Read More

Financial Mythbusting: Making A Financial Plan Based On Reality

August 8, 2019

Do you know the difference between a financial myth and financial reality? When you make a plan for your future, you want to make sure it is based on what’s true. We’ll talk through four ideas to discover whether they are myths and real.

Read More

Should You Take House Debt Into Retirement?

August 1, 2019

What do you do when…? Eric answers three pressing questions from the mailbag in today’s podcast. Whether you are being thrust into an early retirement or are considering delaying retirement due to debt, financial advice from an advisor will set you in the right direction.

Read More

Watch Out For These Red Flags When Working With A Financial Advisor

July 25, 2019

When you are working with an advisor, you want your relationship to be built on trust and quality expertise. But how do you know if an advisor is a bad fit? What red flags should you avoid? We’ll tell you in this episode.

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

Leave a Comment