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

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