Today’s Prep:
We play the game of Jeopardy as Eric answers financial questions on today’s show. Do you know all the answers?
Equipping Points:
Let’s look at a few financial concepts and see if Eric can answer in the form of a question as well as give an explanation on today’s version of financial Jeopardy.
With high fees and broken promises, this financial product has given a bad name to some of its cousins. What is a variable annuity? Annuities are issued by insurance companies, but not all annuities are the same. Eric explains the differences and what you should look out for.
A financial advisor who is required to put the best interests of the client first is a fiduciary. There’s a difference between a fiduciary and someone who isn’t, like a broker.
What financial phenomenon is bound to return? Whether we are in one now or it’s far off, a market correction is inevitable. There are always ebbs and flows to the market. The key to success in the market is being able to weather these corrections by not having to sell those and lock in the losses. If you look at the long-term trend of the market, it’s always up but if you look at it granularly, there’s some negativity.
This forces retirees to drain their retirement accounts: RMDs. Required minimum distributions are not only for retirees, it can also apply to those who inherit an IRA. What can you do to reduce these RMDs? You need to work with a planner, especially someone who understands taxes.
0:50 – Let’s play a little Jeopardy!
1:28 – Known for its high fees, this financial product has given a bad name to others.
4:47 – This requires a financial advisor to put the clients’ best interests first.
6:57 – This financial phenomenon will eventually return.
8:47 – This forces retirees to drain their retirement accounts.
Today’s Takeaway:
The key to success in stocks is not being scared out of them when correction does occur
-Eric Peterson
Related Resources:
Subscribe To The Podcast:
Apple Podcasts - Google Podcasts - Spotify - Stitcher - iHeartRadio - TuneIn
Check out some other recent episodes
What The Psychology of Money Reveals About Retirement
We all like to believe we’re rational when it comes to money, but our emotions often tell a different story. In this episode, Eric unpacks key insights from Morgan Housel’s The Psychology of Money and explains how our upbringing, fears, and life experiences shape how we save and spend. From the fear of running out to the trap of always wanting more, Eric explores why logic alone isn’t enough to build a solid retirement plan.
Read More
The Services We Offer (That You Didn’t Know You Needed)
Most people assume all financial advisors offer the same services, but that couldn’t be further from the truth. From taxes to Social Security, Medicare to estate planning, the depth and quality of your advisor’s services can make or break your retirement plan. In this episode, Eric walks through the often-overlooked services a true, holistic advisor should provide and why they matter.
Read More
How to Stay Calm When the Market Isn’t
Thanks to a variety of economic and geopolitical circumstances, many people are experiencing some form of financial anxiety right now.
Read More
Mailbag: 4% Rule, Life Insurance, and Early Retirement Questions
In this episode, Eric opens the mailbag to answer three listener questions that hit on some of the most common—and often misunderstood—retirement topics.
Read More
Beyond Stocks: The Problem-Solving Power of Financial Advisors
Most people think a financial advisor’s primary job is picking investments, but that’s just a small piece of the puzzle. In today’s episode, Eric explains that the real work happens in solving the complex, emotional, and unexpected problems that come with retirement: early job loss, tax challenges, the loss of a spouse, or even recovering from bad advice.
Read More
Mailbag – Roth IRA, Emergency Funds & Tax-Deferred vs. Tax-Free
Making more money is great, but what happens when it becomes a roadblock for contributing to a Roth IRA? And how can you make your emergency fund work smarter for you? In today’s episode, we pull from the mailbag and answer a mix of listener questions. Eric addresses concerns that reflect the real-life hurdles many face on the road to retirement.
Read More
How 2025 Tax Updates Can Impact Your Financial Plan
Although tax season has come to a close, the time for smart tax planning has just begun! In this episode, we unpack the upcoming tax updates that could affect your planning for the next few years, including changes to 401(k) contribution limits, tax deductions, and the potential benefits of using tax-advantaged accounts like HSAs.
Read More
Early Retirement: Dream Come True or Financial Trap?
Ever fantasize about leaving your 9-to-5 before traditional retirement age? You’re not alone, but is early retirement even possible? In today’s episode, Eric explores what it really takes to retire early including how to tackle healthcare costs, how to make money last longer and the importance of shifting your mindset from spender to saver.
Read More
What 400+ Advisors Say Really Keeps Retirees Up at Night
What are Americans really concerned about when it comes to retirement? In this episode, we unpack the results of an insightful survey from Financial Advisor Magazine, which was completed by over 400 financial advisors. We’ll also compare these answers with the real-world concerns we hear every day from the clients in our own practice.
Read More
Bracket Busters and Stock Flops: The Risky Game of Picking Winners
March Madness is here, and just like filling out a bracket, picking individual stocks can feel like a thrilling gamble. But the odds of winning big are slim. In fact, history shows that most stock picks, like most brackets, end up busted.
Read More