Skip to content

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

Retirement Savings Options: IRA Contributions & Roth Conversions

January 16, 2020

What happens if you’ve maxed out your 401(k) contribution limit? When is a good time to make a Roth conversion? Eric answers three questions from the mailbag this week all pertaining to the options you have when it comes to saving for retirement.

Read More

Making The Right Decisions When It Comes To Real Estate

January 9, 2020

Are you considering making a move this year? When it comes to home buying or selling decisions, there are a lot of factors to consider. Eric answers a few questions from the mailbag related to real estate.

Read More

Fortune Cookie Proverbs For Your Financial Plan

January 2, 2020

The message inside a fortune cookie may bring you more fortune than you think if you apply those proverbs in your financial plan. Let’s look at four fortunes and how it applies with your financial decisions.

Read More

Facing The Final Decade Before Retirement

December 26, 2019

The last few years leading up to retirement can have a significant impact on what your retirement actually looks like. This is when you start making the decisions and plans you’ll actually implement in a few years. Are you ready?

Read More

A Message For The Good Savers

December 19, 2019

Maybe you are great at saving and putting away money toward retirement. Is that enough? Find out three areas where a bit more strategy and behavior modification may come into play with your savings and investments as you enter into retirement.

Read More

What Flying Can Teach Us About Retirement

December 12, 2019

Any time you fly in a plane, there’s a lot going on as you travel to your destination. How does this relate to your financial plan? We compare the experience of flying to preparing for retirement in today’s episode.

Read More

What Holds You Back From Breaking Up With A Financial Advisor?

December 5, 2019

Breaking up is hard, but sometimes you stay in a relationship too long for the wrong reasons. Is your relationship with your financial advisor working as it should? Or are you using some of these common excuses to stay with the wrong advisor?

Read More

7 Deadly Sins of Financial Planning

November 26, 2019

Like in all areas of life, it’s important to be cognizant of your blind spots and sinful tendencies. When it comes to the seven deadly sins, how do those apply in your financial plans?

Read More

Let’s Play Financial Jeopardy

November 21, 2019

Financial for 200! Financial for 400! Are you ready to match the questions with the statements like in Jeopardy when it comes to your knowledge of financial terms? Which of these currently impact your retirement plan?

Read More

Getting Your Health And Wealth In Shape

November 14, 2019

Are you feeling yourself slide into a bit of a rut? Need more tone and discipline in your life? Getting your body in shape can look a lot like getting your finances in shape.

Read More

Leave a Comment