Today’s Prep:
Which investors will end up ahead in the end? Eric talks through the types that might look successful…until they aren’t.
Equipping Points:
When it comes to your retirement journey, you want to be a wise investor. What are the traits shared among the worst investors (and how can you avoid being one of them)? Eric shares what investment strategies will end up being more successful than others.
Those who are trying to get rich quickly don’t usually win in the end. An investor who is slow and steady but saving and working hard over time is more likely to succeed. Making safer, smarter choices with your money is key.
Instead of just hoping it all works out eventually, have a plan. You don’t want to reach retirement and realize you have no plan. Start working on your financial plan several years before retirement to make smarter choices on where to put your money. Don’t just assume because “everyone” else is doing it that it’s right for you. Instead, have a plan that focuses on your needs and goals. Make sure you’re accounting for your long-term goals and not caught being short-sighted.
Listen to the entire episode or skip ahead to a particular question using the timestamps below.
[spp-timestamp time=”0:47″] – Who are the worst investors?
[spp-timestamp time=”1:33″] – Trying to get rich quick.
[spp-timestamp time=”3:46″] – Operating without a plan won’t work.
[spp-timestamp time=”7:32″] – Don’t only focus on short-term instead of long-term investing.
[spp-timestamp time=”8:49″] – Remember what happens when you invest in the stock market.
Today’s Takeaway:
My money I need for income needs to be protected in safer, smarter places.
-Eric Peterson
Related Resources:
Subscribe To The Podcast:
Apple Podcasts - Google Podcasts - Spotify - Stitcher - iHeartRadio - TuneIn
Check out some other recent episodes
Healthcare in Retirement
One major (yet often overlooked!) expense in retirement is healthcare. Especially if you are retiring early, healthcare can be a huge expense as you bridge the gap between your working years and when eligible for Medicare. Not only will you have an increased monthly cost, but you may need to budget for additional medical costs as time goes on or even long-term care needs.
Read More
Family Matters When It Comes to Finances
Today we talk about what happens in a family, particularly when someone has passed away and the financial impact that can have.
Read More
Water Wheels and Retirement Planning
Have you ever wondered how a water wheel can relate to your retirement planning? It might seem like an odd comparison, but in today’s podcast, Eric breaks down this fascinating analogy and its significance in maintaining a stable financial future.
Read More
Most Common Retirement Planning Mistakes
We all make mistakes from time to time. But what if your financial mistakes could be avoided with just a little insight? Eric shares some of the most common retirement planning mistakes people are prone to make and what you can do to save yourself from heartache.
Read More
Common Complaints About Financial Planning
When it comes to planning for retirement, the relationship you have with your financial advisor is crucial. Many people express common complaints about their financial advisors, from taking on too much risk to paying high fees or a lack of communication. In today’s podcast, Eric sheds light on these concerns and offers valuable insights to help you navigate your financial journey.
Read More
Navigating Spousal Disagreements in Retirement Planning
Inside a marriage, retirement planning is a journey that ideally involves both partners working together towards a common goal. However, as with any significant life decision, disagreements can arise. Eric sheds light on some of the most common spousal disagreements regarding retirement and offers practical advice on how to navigate them.
Read More
Financial Wisdom from Ernest Hemingway
According to Ernest Hemingway, “In order to write about life, you must first live it.” Eric shares how his years working as a financial advisor have given him the experience to guide others through various market conditions and make a financial plan that is possible to follow. It’s not just about understanding the products and tools; it’s about knowing how people react to different financial stimuli and steering them accordingly.
Read More
Knowing Where You Stand in Retirement
Saving for retirement is not like it used to be. For too many, it’s a mystery whether or not they have what they need to retire comfortably. To best prepare for retirement, it’s important to know where you stand. Do you have an understanding of what your goals and financial needs are?
Read More
The Different Investor Personality Types
When it comes to financial planning, understanding your investor personality type can significantly impact your retirement plan.
Read More
Bad Financial Habits
Are your financial habits setting you up for a secure retirement or are they leading you down a path of uncertainty and uneasiness? Eric shares about the consequences of bad financial habits and what you can do to cultivate better ones. Instead of burying your head in the sand or overemphasizing the wrong things, take some time to recalibrate and get your financial life in the right direction.
Read More