Skip to content

Should You Take House Debt Into Retirement?

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.

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

 

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:

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