Need someone to tell it to you straight? On today’s episode, Eric gives four financial truth bombs that might change the way you think about your financial plan and your portfolio.

Want to know the truth about your financial plan? Some of these may come as a surprise if they feel counter intuitive or go against what you thought you knew. Eric explains four financial truths you’ll want to know while working on a financial plan.

Have you always assumed bonds are good as a retiree? Truth bomb: maybe it’s not as great as you think. While this can be a big surprise to many, it’s important to understand bonds and how they really function. Not only that, are you investing in a bond or a bond fund?

What’s the hardest part of investing? Is it picking the perfect fund? Believe it or not, it’s managing your behavior and being careful with your emotions when it comes to making investments. Is your financial advisor coaching you well, even in crisis?

If the tools are easy to use, shouldn’t you be an expert? While moving an investment online might be easy, the part that you may need help with is the planning piece of it. You are an expert in your own field at work, but you can’t expect to be an expert on everything. Or maybe you don’t even want to be an expert! From fixing a car to financial planning, sometimes it’s better to work with a professional.

Finally, how much risk do you actually have in your portfolio? You might be surprised to have more risk than you thought. When things are going up, it feels like a good thing, but as soon as we take a dive like this past March, you may realize how exposed you really are.

Listen to the full episode or click on the time stamps below to hear the truth bombs you’ve been needing.

[1:23] – Bonds aren’t always as good as retirees think.

[5:14] – The hardest part of investing is managing our own behavior.

[7:47] – You aren’t an expert at everything.

[10:27] – You probably have more risk in your portfolio than you realize.