Skip to content

Unlikely Wisdom From Unlikely Voices

Today’s Prep:

You might not expect to gain wisdom from these popular celebrities. To be honest, these quotes weren’t intended to be about finances either. However, there’s plenty of retirement planning wisdom we can learn from these personalities.

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

Equipping Points:

[1:07] – Lindsay Lohan On Owning Your Problems.

“I’m my own worst enemy, and I know that.”

  • Acknowledge your problems, and own them.
  • Stop trying to justify poor financial decisions.
  • There are no magic tricks or secrets to getting ahead in the stock market. You must follow a long-term investing strategy.
  • Behavioral investors let their emotions get the best of them. They get excited and buy when the market is high, and then they panic and sell as it drops. A savvy investor follows a strategy. They aren’t driven by emotions.

[5:00] – Rosie O’Donnell On Being Wary Of The Media

“Anybody that you put on TV for five hours a week is bound to say something stupid at some point.”

  • We live in a 24-hour news cycle, and sensational news sells.
  • News channels appeal to their listeners. You’re going to listen to the channel you find most appealing.
  • Be wary of the financial advice you receive from television personalities.

[3:57] – Mike Tyson On Changing Plans

“Everybody has a plan until they get punched in the mouth.”

  • You think you know what you’re doing, and then you face one of those “life happens” moments. Suddenly, you need to change your plans.
  • An illness, early retirement, or layoff could all force you to change your plans in retirement.
  • Be ready to adjust your plan.

Today’s Takeaway:

Additional Resources:

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

Reasons Why People Don’t Retire

February 13, 2020

Why would someone put off retirement? Are there valid reasons to wait, even if you are of retirement age? Today we’ll look at the reasons that we often hear and the meaning behind what is said.

Read More

Financial Advisor Green Flags

February 6, 2020

How do you know if you’ve found the right type of financial advisor? What is most important when looking for someone to work with who will create the right types of financial strategies for where you are in life?

Read More

Understanding The SECURE Act, Part 2: Stretch IRAs

January 30, 2020

In part two of our series on the SECURE Act, we talk about some of the downsides to the changes. Eric explains the stretch IRA and what impact the SECURE Act made on it.

Read More

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

Leave a Comment