Financial Jeopardy

Today’s Prep:

We play the game of Jeopardy as Eric answers financial questions on today’s show. Do you know all the answers?

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

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:

401(k) Weaknesses

Retirement Vacation Planning

Financial Things We Can All Relate To 

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

Mailbag: How Much is Too Much to Spend on a Forever Home?

August 4, 2022

Retirement decisions involve a lot more than just the money, but also the emotional and lifestyle decisions, too. Eric answers three questions from the mailbag from listeners making retirement decisions.

Read More

401(k) Weaknesses

July 21, 2022

If you have a 401(k), what are some of the downsides? Eric talks through what a 401(k) is best for and when it is better to invest elsewhere.

Read More

Retirement Planning: It’s Not As Easy As It Looks

July 14, 2022

What should you be considering when trying to DIY your retirement plan? Eric talks through why many later decide working with a financial advisor is best.

Read More

Financial Security in Retirement

July 7, 2022

What does it look like to achieve financial security? Let’s talk through a few financial goals people have when they meet with a financial advisor.

Read More

Financial Planning for Business Owners

June 30, 2022

When you’re a business owner, you put your heart and soul into your business. There’s a lot that goes into starting and running a successful business. When it’s time to retire though, how can you make sure your transition goes well?

Read More

Economic News and Sensational Headlines

June 23, 2022

How much should you pay attention to some of these recent financial news headlines? Eric shares what he thinks and what matters when it comes to your financial situation.

Read More

Conventional Wisdom

June 16, 2022

Should you follow conventional wisdom when it comes to your financial decisions? Eric shares when the conventional wisdom might not be best.

Read More

Retirement Vacation Planning

June 9, 2022

Let’s plan the vacation of your dreams: retirement. More than simply a week away, you want to spend the right amount of time and energy thinking about this major season in life.

Read More

Financial Things We Can All Relate To

June 2, 2022

What are we all facing and wondering about in our financial futures? Eric talks through a few topics you might have had on your mind lately.

Read More

Mailbag: Should I Move my Mom’s Money into Investments?

May 26, 2022

Where’s the best place for your money to go? Several people are considering where their money should be, so Eric answers three questions from the mailbag for today’s show.

Read More

Leave a Comment