Financial Planning and Gun Safety

Today’s Prep:

What safety measures do you use when you own a gun? Are you implementing similar tactics with your financial plan?

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

Equipping Points:

We like to use different analogies to relate financial planning with different aspects of life. From planning a vacation to playing chess, various topics will connect with different people and what they are most familiar with. So, today, we will compare financial planning to gun safety. What common safety measures apply to both?

Why take the risk when you do not need to? Even when playing, you never point a gun at someone because it’s a risk. What kind of investment risks are you taking that aren’t worthwhile? Have you had a risk assessment on your investments to find out just how exposed you are? It’s crucial to practice safety.

If you own guns, it’s important to keep your ammunition separate from your guns. Likewise, with your investments, you don’t want them all in the same place. Are yours properly spread out?

Sometimes we get a distorted view of what is entertainment and what is real. From video games to movies, you may think you are familiar with guns without any real experience or understanding. Similarly, financial shows or online tools may make things look simple or only share the success stories. Make sure you know the difference between education and entertainment.

Finally, is everything locked away as it should be? With a gun, you have a gun safe to keep it safe and out of the wrong hands. What about your assets and investments? What kind of safety net and emergency funds do you have set up? Don’t blur the lines between saving and investing. Make sure you have a plan in order to achieve your financial goals. 

Listen to the full episode or click on the timestamps below to skip ahead. 

[1:15] – How does gun safety relate to financial planning?

[2:03] – Why take unnecessary risk? 

[4:00] – Keep your ammunition separate from your guns.

[5:48] – Understanding education vs. entertainment.

[9:20] – Use a safe.

Today’s Takeaway:

Investing money will fluctuate; saving money shouldn’t. Saving money and income money needs to be a lot safer than what a lot of people have right now.

-Eric Peterson

Related Resources:

Facing the Villains in the Financial World

Financial Planning Lessons From Winston Churchill

Uncommon Sense in Financial Planning

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

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

A Perfect Match: Tennis and Retirement Planning

May 19, 2022

Ready to ace your retirement plans? Let’s talk tennis and see how much it relates to your financial plans on today’s show.

Read More

Mailbag: Money Management Tips For Younger Couples

May 12, 2022

What financial advice does Eric have for younger couples? What can you do to reduce next year’s taxes? Eric answers these questions and more from the mailbag.

Read More

Building a Plan for the Long Haul

May 5, 2022

What do you need to get you through the long haul of life? Eric talks us through what this looks like in your financial plan and how to build it with an eye on a distant horizon.

Read More

What Do You Need to Know About Today’s Inflation?

April 28, 2022

Everywhere you turn there’s a headline about inflation but what do you need to know about what’s going on? Eric weighs in on the recent numbers and what you can do about it.

Read More

Mailbag: Should I Save Elsewhere Besides My 401(k)?

April 21, 2022

What kind of savings do you really need for retirement? Are you working with the right advisor to get you there? Eric answers three questions from listeners.

Read More

Leave a Comment