Skip to content

Getting Your Health And Wealth In Shape

Today’s Prep:

Are you feeling yourself slide into a bit of a rut? Need more tone and discipline in your life? Getting your body in shape can look a lot like getting your finances in shape.

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

 

Equipping Points:

Like getting a personal trainer at the gym, getting in shape with your financial planning is vital to your well-being. Let’s talk about the many parallels between getting into physical and financial shape.

When you are learning what to do to improve your fitness, you may turn to several sources of information. The knowledge from a book might help, but it’s not going to give you everything. Having a trainer can make a significant difference when it comes to your health, just like having a financial advisor may help you overcome the hurdles toward financial success.

If you do something incorrectly you could exasperate problems instead of helping yourself. Things like a wrong yoga move or an error on your taxes could come back to hurt you later on.

If you sit down with a trainer, the first thing you’ll do is outline your goals. Do you want to lose weight or build muscle? Likewise, with a financial advisor, do you want to travel in retirement or leave more of a legacy? Knowing your goals helps the trainer or advisor craft a plan that works for you.

Ever hear the expression, “abs are made in the kitchen, not the gym”? It means you need to have both the physical regiment and the discipline to do the right things with your nutrition. Likewise, in your retirement plan you need the discipline to stay on track, even when your investments don’t look great. Markets are always up and down, but over the long-term, these things tend to work themselves out. Advisors can help provide the strength and support you need to keep your behavior in check when it comes to making financial decisions, which can really pay off in the long run.

Are you ready to hit the gym and tighten up your core? How about meeting with an advisor and refining your retirement plan?

Listen to the full episode to hear a financial pep talk from an advisor or click on the timestamps below for a specific segment.

[2:05] – You can’t just read a book and know all there is to know.

[4:04] – Doing it on your own and doing it poorly could make things worse.

[5:04] – Start with some goals.

[6:56] – Don’t counteract your progress with bad habits.

[8:35] – Think about the long-term and the value an advisor may bring.

 

Related Resources:

Answering The 401(k) FAQs

How To Handle Financial Pain Points in Retirement

 

Today’s Takeaway:

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

Understanding The SECURE Act, Part 1

January 23, 2020

What is the SECURE Act? And how does it impact your retirement plans? We’ll outline some of the major changes you need to be aware of in this two-part series.

Read More

Retirement Savings Options: IRA Contributions & Roth Conversions

January 16, 2020

What happens if you’ve maxed out your 401(k) contribution limit? When is a good time to make a Roth conversion? Eric answers three questions from the mailbag this week all pertaining to the options you have when it comes to saving for retirement.

Read More

Making The Right Decisions When It Comes To Real Estate

January 9, 2020

Are you considering making a move this year? When it comes to home buying or selling decisions, there are a lot of factors to consider. Eric answers a few questions from the mailbag related to real estate.

Read More

Fortune Cookie Proverbs For Your Financial Plan

January 2, 2020

The message inside a fortune cookie may bring you more fortune than you think if you apply those proverbs in your financial plan. Let’s look at four fortunes and how it applies with your financial decisions.

Read More

Facing The Final Decade Before Retirement

December 26, 2019

The last few years leading up to retirement can have a significant impact on what your retirement actually looks like. This is when you start making the decisions and plans you’ll actually implement in a few years. Are you ready?

Read More

A Message For The Good Savers

December 19, 2019

Maybe you are great at saving and putting away money toward retirement. Is that enough? Find out three areas where a bit more strategy and behavior modification may come into play with your savings and investments as you enter into retirement.

Read More

What Flying Can Teach Us About Retirement

December 12, 2019

Any time you fly in a plane, there’s a lot going on as you travel to your destination. How does this relate to your financial plan? We compare the experience of flying to preparing for retirement in today’s episode.

Read More

What Holds You Back From Breaking Up With A Financial Advisor?

December 5, 2019

Breaking up is hard, but sometimes you stay in a relationship too long for the wrong reasons. Is your relationship with your financial advisor working as it should? Or are you using some of these common excuses to stay with the wrong advisor?

Read More

7 Deadly Sins of Financial Planning

November 26, 2019

Like in all areas of life, it’s important to be cognizant of your blind spots and sinful tendencies. When it comes to the seven deadly sins, how do those apply in your financial plans?

Read More

Let’s Play Financial Jeopardy

November 21, 2019

Financial for 200! Financial for 400! Are you ready to match the questions with the statements like in Jeopardy when it comes to your knowledge of financial terms? Which of these currently impact your retirement plan?

Read More

Leave a Comment