Everyone loves a good game show, whether it’s The Price Is Right, Jeopardy, or Who Wants To Be A Millionaire. It’s fun to play along, but remember, they’re just games. Today we’ll talk about game shows and how they relate to your retirement planning process. Ready to play?
(Click the featured times below to jump forward in the episode)
[1:43] – The Price Is Right
- The key to investing is buying low and selling high.
- You have to look at fundamentals like, “what are you paying for on an earnings standpoint?”
- In retirement, you need income to support your lifestyle.
- You still want growth in order to outpace inflation down the road.
- Proper diversification can help with big losses.
[3:33] – Are You Smarter Than A 5th Grader?
- If you can’t explain your retirement to an 11-year-old, then it’s too complicated.
- Eric shares a teachable moment he had with his son while at the store.
- People make retirement more complicated than it needs to be, but an advisor should be able to relay it to you in a way that makes sense.
- In a client example, Eric talks about someone who took his class after being laid off.
- Yes, there are complicated formulas behind the scenes but an advisor is here to help you.
Check out some other recent episodes
In part two of our series on the SECURE Act, we talk about some of the downsides to the changes. Eric explains the stretch IRA and what impact the SECURE Act made on it.Read More
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
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