Posts Tagged ‘Retirement Planning’
401(k) Mistakes
Your 401(k) likely plays a major role in your retirement savings. That’s why it’s important that it’s set up and functions in the way that’s most beneficial to you. Following our last podcast about beneficiary mistakes, now we focus on common mistakes people make with their 401(k).
Read MoreBeneficiary Mistakes
In this episode of the Retirement Ready Podcast, Eric guides us through the critical yet often overlooked details of beneficiary designations. Learn the simple yet vital steps to prevent beneficiary blunders that could lead to unnecessary headaches for your heirs. Eric calls these errors “low hanging fruit” because they’re easy to fix yet can save your family from future heartache.
Read MoreRetirement Planning Statistics
Retirement is closer than you think, but are you ready? With a staggering number of people lacking confidence in their retirement savings, Eric shares the misconceptions people have and what mistakes can derail someone’s financial future. Many people feel inadequate when it comes to what they have saved in their nest egg, uninformed about the pitfalls of target date funds, and unprepared about the reality of leaving the workforce earlier than expected.
Read MoreMailbag: Should I Fire My Broker?
Navigating life’s financial crossroads can be tricky, especially when it involves your financial future. In this episode of Retirement Ready, Eric addresses these complex issues head-on. How do you best evaluate your broker and your investment performance against the S&P 500? Eric says a lot of that comes down to setting expectations and understanding the risks. Then, Holly wants to know what to consider before making a midlife career change.
Read MoreCutting Corners Financially
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 MoreTax Planning in Retirement
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 MoreLearning From Financial Mistakes
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 MoreThe Hierarchy Of Retirement Needs
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 MoreInheritance 101
An inheritance isn’t something you experience every year, so when it does happen, there are a lot of details to understand. We talk about some of the questions surrounding inheritances. Eric also shares the most common mistakes and how you can avoid them.
Read MoreMailbag: Do I Have Too Much in Cash?
When people are in retirement or closer to retirement, the accessibility of money goes up. So, what does that mean when you have to take out RMDs? How do you know if you have too much money in the bank? Talking through this with an advisor might help you make the right next steps with your money. We also talk about what mistakes people are prone to make if they try to DIY their retirement planning without a financial advisor.
Read MoreRetirement Planning with Mr. Miyagi
Eric answers three questions from the mailbag today, all common scenarios that you might one day come across yourself. Find out what he has to say!
Read MoreRetirement Planning: It’s Not As Easy As It Looks
What should you be considering when trying to DIY your retirement plan? Eric talks through why many later decide working with a financial advisor is best.
Read MoreRetirement Planning with Shaq
Ready to spend some time on the basketball court? We have some fun talking through past quotes from Shaq and then applying them to financial decisions.
Read MoreMailbag: Pensions, Vacation Homes, and More
Have a question for Eric? As a retirement planner, he answers questions like this all day. We tackle three questions today about pensions, vacation homes, and having multiple brokers.
Read MoreDelayed Gratification in Retirement Planning
What financial rewards are worth waiting for? We talk through three sets of options to determine whether delayed or instant gratification is better in retirement.
Read MoreSECURE Act 2.0 – What to Know
Do you know about the changes proposed in the SECURE Act 2.0? Eric shares a few of the highlights as well as his thoughts on the changes.
Read MoreBaseball and Retirement Planning
America’s pastime has been enjoyed by people of all ages for many, many years, but how much have you thought about baseball from a retirement planning perspective? Today we’ll explore the parallels between being successful in sport and finances.
Read MoreMailbag: Should I Use My Severance Package to Pay Off the House?
Whether you want to learn more about using your HSA or trying to make strategic use of your severance package, Eric answers three questions from the mailbag. Do any of these questions relate to your situation?
Read MoreThings Your Advisor Should Be Doing
What kind of decisions are you making alongside your financial advisor? How do you know if they are doing everything you need when it comes to creating and implementing a retirement plan? Eric talks through what you deserve from a financial advisor and how his team works with clients to meet their needs.
Read MoreThe Customer Ain’t Always Right In Financial Planning
When you see a financial advisor, do you want them to always tell you “you’re right” or do you want someone to coach your through your financial plan? Let’s talk about when the customer isn’t always right when it comes to financial planning.
Read More