Today’s Prep:
What do you do when…? Eric answers three pressing questions from the mailbag in today’s podcast. Whether you are being thrust into an early retirement or are considering delaying retirement due to debt, financial advice from an advisor will set you in the right direction.
Equipping Points:
When it comes to retirement planning, there are a number of questions that come up along the way. Eric gives his professional advice to answer these three questions from the mailbag.
When faced with an early retirement due to a company getting bought out, there are a number of things you will want to do to ensure you are prepared. Once you have your package, have a conversation with an advisor to look into your options. While maybe you weren’t wanting to retire yet, this may end up being for the best, so consider what other things you might want to do with your time.
What do you do with debt when heading into retirement? Mel from Ames is wondering if she should pay off the house even if it means delaying retirement for a year or retiring as planned. It might mean looking at the numbers to see what’s possible or getting creative with what to do about work.
Finally, what do you do if your financial advisor is hard to get in contact with? Maybe your account is smaller than the average client’s, but you should still be treated with respect and get the value needed from an advisor. If you feel ignored, it’s probably true–which is wrong. Eric believes in treating all of his clients with the respect they deserve.
Listen to the entire episode or click the timestamps below to hear a particular question from the mailbag.
0:47 – Mailbag: What does an early retirement offer look like? How should you prepare?
3:40 – Mailbag: Should you keep working until you’ve paid the house off or retire as planned?
5:08 – You can always do something else in retirement, such as part-time work.
6:05 – Mailbag: Financial advisor is tough to get in touch with. Is this common practice?
Related Resources:
Retiring Early: Is It Possible and Is It for You?
Mailbag: Retention Bonus or Retirement?
Today’s Takeaway:
“We always treat our clients with the same level of respect that they had when they came on board, regardless of their account size. –Eric Peterson“
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