New Year, New Ideas to Consider

Today’s Prep:

We all like the idea of a fresh start in the new year. What changes are already underway? Or, what changes might be unwelcomed when it comes to your retirement plan?

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

Equipping Points:

We’ve made it into the new year and time will tell if 2021 is a big improvement over 2020. What are some things to keep in mind as we transition into the year? What changes could impact you? On today’s episode of the Retirement Ready podcast we discuss a variety of new things–from how we celebrated the holidays to new SEC rules to dealing with an unexpected early retirement.

When you build a relationship with somebody, it’s nice to hear from someone else who has had a similar experience. What is their service like? Are they attentive? Just like when you choose a restaurant and check reviews online, it’d be nice to get similar testimonials on advisors. Previously the SEC did not allow testimonials but has now changed to allow it. There will be some regulations and some time before it rolls out, but Eric thinks this will benefit those seeking to begin a relationship with a financial advisor.

Among the changes in the new year, some are facing layoffs. Are you being forced to retire early? Eric has had clients who realized they could make retirement work, even earlier than planned. Reviewing the numbers and understanding how to make your plan work will give you a better idea of how you can pivot from a bad or unexpected situation. If you do retire early, whether by choice or not, what will you do for health insurance?

Knowing what the possible unknowns are can help you feel confident in your plan. What kind of return do you need to make your plan work? What happens if you come across bad times and you need to take money out of your account early? Everyone makes resolutions at the beginning of the year, so if getting your retirement in order is on your list, reach out to Eric and his team.

Listen to the entire episode or click on the timestamps below to skip to something new in the new year.

[0:47] – What were the holidays like for Eric?

[3:13] – SEC rules are changing to allow people to use testimonials.

[6:14] – You never know when things will happen or you might lose your job.

[8:17] – When does Medicare kick in during retirement?

[9:11] – What’s your new year’s resolution?

 

Today’s Takeaway:

You want to retire when you want to, not when you’re forced to.

-Eric Peterson

Related Resources:

Things Your Advisor Should Be Doing

Managing Your Risk Aversion

Uncommon Sense in Financial Planning

More From Eric:

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

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