How Do You Say It?

Today’s Prep:

When it comes to phrases or jargon, it’s good to know how to say it and what means what. Do you know what we’re talking about with each of these things?

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

Equipping Points:

We’ll have a little lesson in linguistics and financial terminology to hear what Eric says about these different terms. Are they all the same or does saying it one way over another make a difference? How do you say it?

Market crash, market correction, or bear market — is it all the same? The media might say it’s a market crash every time it goes down, but it might be only a correction. A bear market happens over an extended period of time. When you invest, think about the long-term investment and then you don’t have to worry so much about the quick ups and downs.

Junk bonds or high yield bonds? Eric prefers calling them junk bonds because they are more descriptive of what you’re getting. Does junk mean it’ll automatically default? No, but it means you’re buying from a company whose borrowing capability is diminished. Realize what you’re getting before you invest.

Which does Eric say more, stocks or equities? Technically, they are the same, but Eric says stocks. More people understand stocks instead of equity though, so it’s more commonly used.

Is Eric a financial advisor, financial planner, stockbroker, or investment advisor? Actually, he prefers the term retirement planner! A financial advisor is different than an investment advisor in that they are looking at a more comprehensive plan, not just individual investments. When you’ve got a young family, you may work with an advisor to help you work toward savings goals and provide for your family. A retirement planner wants to protect their assets, generate retirement income, and transition the money you have leftover to the family.

Finally, client or customer? Eric prefers clients as they are building a relationship. Not all work they do generate sales, but it is for the benefit of the client. They answer questions or provide referrals. This is what you can expect when working with Eric and his team for all of your retirement planning needs.

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

0:47 Tennis shoes, sneakers, or gym shoes?

1:35 Market crash, market correction, or bear market?

4:26 Fireflies or lightning bugs?

5:00 Soda or pop?

5:25 Junk bonds or high yield bonds?

7:04 Stocks or equities?

7:39 Financial advisor, financial planner, stockbroker, or investment advisor?

10:45 Water fountain, drinking fountain, or bubbler?

10:59 Clients or customers?

Today’s Takeaway:

What’s included in the fees that we charge are these interactions that we have where all we do is talk about you and your plan. Sometimes there might be some tweaks we need to make.

-Eric Peterson

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

Things Your Financial Advisor Might Not Be Doing

December 7, 2023

Sometimes people get advice from financial “professionals” who maybe aren’t the right fit for their needs. Today, we discuss some of the things your advisor might not be talking to you about.

Read More

Tax Consequences

November 30, 2023

Taxes are a major part of your life, especially your life in retirement. Having a good understanding of how you can prepare may save you in the long-run. Discussing your options with a financial advisor can help point you in the right direction. Listen in as we chat about tax consequences in today’s episode.

Read More

Cutting Corners Financially

November 21, 2023

Sometimes we want to take the easy way out instead of the smarter way. Today, we talk about ways people have tried to cut corners financially and where that falls apart. Think you can take extra risk to make up for lost time? Letting your financial life fall to disarray?

Read More

Risk Aversion

November 16, 2023

No one loves losing money. So how do you strike the right balance of investing vs. being overly risk averse? Eric talks through how he guides clients through this dilemma. You might be surprised to find out your investment accounts are riskier than you realized!

Read More

Tax Planning in Retirement

November 9, 2023

Next to income, tax planning is the most important thing Eric focuses on with his clients. If you can control how much tax you pay, it’s more money you get to keep, spend, and enjoy. Retirement is a prime time to focus on tax planning as you have more opportunity to control the taxes you owe. 

Read More

Overconfidence in Your Financial Life

November 2, 2023

When can overconfidence cause catastrophe? If you are setting your financial goals based on a rule of thumb or a certain arbitrary dollar amount, you might want to reconsider. Having overconfidence, especially in the wrong things, can lead to financial disaster.

Read More

Learning From Financial Mistakes

October 26, 2023

Sometimes we learn from our mistakes, and unfortunately, sometimes we make the same mistake over and over. Having a financial advisor can help you navigate through your financial decisions so you don’t get stuck in the same rut of financial mistakes on repeat. In today’s episode, Eric will share some of the mistakes that he sees people make frequently. 

Read More

The Hierarchy Of Retirement Needs

October 19, 2023

You may be familiar with Maslow’s hierarchy of needs which breaks down a human’s needs into five different tiers. In today’s episode, we apply those tiers to what you need when retirement planning. Have you planned and saved in a way that will cover all of these needs?

Read More

Finances with Forrest Gump

October 12, 2023

The classic movie, Forrest Gump, is full of great quotes. We see how some of those quotes can be applied to your finances. From figuring out what to do when life isn’t going just like you thought to learning from past mistakes, there are a lot of takeaways from Forrest.

Read More

Financial Matters People Put Off

October 5, 2023

Humans can be really good at procrastination. When we have the basics covered, it’s easy to put off the decisions and actions that we don’t want to deal with just yet. Today, we talk about some of the financial matters people are prone to put off and what you would be better off tackling right away. You might be surprised to find it wasn’t so hard to handle after all!

Read More

Leave a Comment