Finding the Silver Linings

Today’s Prep:

If you have a financial setback, how can you find the upside in the situation? We talk through four major financial upsets that could actually be an opportunity in disguise.

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

Equipping Points:

Some of our biggest opportunities come from the silver linings of situations that may otherwise feel like a bad situation. For instance, when the market took a downturn in March of 2020, it might have felt scary or painful. But remember, that the market going down is actually a good buying opportunity.

If you have capital gains, consider the bright side. If you have money to pay in taxes, that means you made a lot of money that you didn’t have before. There are also strategic ways to handle this. Capital losses can offset capital gains. Eric talks through the rules on tax-loss harvesting.

Is there something good about a savings account? Remember that this is a liquid account that can bring comfort to have money readily available. You can only pick two of the three components of an investment: liquid, safety, and growth. Having investments across all three buckets can help protect you in case of the unexpected.

Whether you are forced into early retirement or your job is eliminated or you are laid off, how could that possibly be a silver lining? You might realize you are closer to being ready for retirement than you thought. Or, you might use that as a launching off point to doing something you really enjoy. Having an analysis and meeting with an advisor can be a beneficial way to figure out what’s next.

Listen to the entire episode or skip ahead using the timestamps below.

[0:46] What’s the silver lining in a market downturn?

[2:47] What’s the bright side of capital gains?

[5:01] What are the pros and cons of a savings account?

[6:36] How do you find a silver lining in job loss?

Today’s Takeaway:

“If you have an analysis, it can be very empowering for you.

-Eric Peterson

More From Eric:

The host: Eric Peterson - Contact - Call: (515) 226-1500

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