Today’s Prep:
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.
(Click the featured times below to jump forward in the episode)
Equipping Points:
When making a financial plan, there’s a lot of things that are unique to you and your situation. That said, there are some things that we can all relate to on some level. Today we talk about how we’re all alike.
Social Security is something everyone wonders about and worries about. Will it still be there by the time you want to withdraw from it? All government programs face some challenges, but Social Security is a bedrock of retirement for many. You put money into the system and more than likely, expect to get those benefits back. There might be some changes in the future, but we don’t know just how it will look in the future.
Thinking you have a high risk tolerance, at least until there’s market volatility? We all tend to think we have a higher risk tolerance than we really do. Sometimes the market will look crazy like it does right now. You need to have a plan that can address that.
Listen to the entire episode or skip ahead to a particular question from the mailbag.
[0:47] – What can we all relate to?
[1:46] – What do we all have in our car?
[2:22] – We all are looking at Social Security.
[4:47] – We all forget someone’s name.
[6:28] – What’s your real risk tolerance?
Today’s Takeaway:
“Everyone’s comfortable with the risk when the market’s good. No one’s comfortable with the risk when the market’s bad.”
-Eric Peterson
Related Resources:
Building a Plan for the Long Haul
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