Today’s Prep:
Why does Eric do what he does? What’s his history and what are his passions? Find out on today’s episode of the podcast.
(Click the featured times below to jump forward in the episode)
Equipping Points:
When Eric first began to work as a financial advisor, what motivated him? Why does he have a passion for this profession? Who influenced him along the way? Eric shares a bit about his upbringing in today’s podcast to give the backstory of why he does this job that he loves.
Eric is quick to explain that he didn’t come from wealth. He went from being raised by a single mother to working in the Air Force to eventually pivoting to insurance and then financial advising. As he began talking to people nearing retirement he realized the value of holistic planning. He saw the impact he could make on people’s lives.
What does he love most about what he does? From perspective clients to long-standing clients, Eric enjoys hearing about their lives and how he can help them prepare for the future. With the right strategy implemented, many clients are still able to retire even in a tough financial year like 2020.
How do you get from where you are now to transitioning to retirement? Eric starts with a planning process. What are your risks? What are your taxes? What are your goals? Do those things align? Identifying the areas that may be problematic allows you to address them properly within your planning process.
Listen to the entire episode or click on the timestamps below to skip to a particular segment.
0:46 – Why does Eric do what he does?
1:19 – Who and what has shaped Eric’s view on wealth?
5:52 – What was the transition from insurance to financial planning like?
7:52 – What would Eric change about the industry?
Today’s Takeaway:
“When I come in and sit with a client or perspective client, I love hearing about their lives and finding out about how they got to where they are and how what we do can help them.“
-Eric Peterson
Related Resources:
What Goes Into a Customized Financial Plan?
Subscribe To The Podcast:
Apple Podcasts - Google Podcasts - Spotify - Stitcher - iHeartRadio - TuneIn
Check out some other recent episodes
Things Your Financial Advisor Might Not Be Doing
Sometimes people get advice from financial “professionals” who maybe aren’t the right fit for their needs. Today, we discuss some of the things your advisor might not be talking to you about.
Read More
Tax Consequences
Taxes are a major part of your life, especially your life in retirement. Having a good understanding of how you can prepare may save you in the long-run. Discussing your options with a financial advisor can help point you in the right direction. Listen in as we chat about tax consequences in today’s episode.
Read More
Cutting 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 More
Risk Aversion
No one loves losing money. So how do you strike the right balance of investing vs. being overly risk averse? Eric talks through how he guides clients through this dilemma. You might be surprised to find out your investment accounts are riskier than you realized!
Read More
Tax 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 More
Overconfidence in Your Financial Life
When can overconfidence cause catastrophe? If you are setting your financial goals based on a rule of thumb or a certain arbitrary dollar amount, you might want to reconsider. Having overconfidence, especially in the wrong things, can lead to financial disaster.
Read More
Learning 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 More
The 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 More
Finances with Forrest Gump
The classic movie, Forrest Gump, is full of great quotes. We see how some of those quotes can be applied to your finances. From figuring out what to do when life isn’t going just like you thought to learning from past mistakes, there are a lot of takeaways from Forrest.
Read More
Financial Matters People Put Off
Humans can be really good at procrastination. When we have the basics covered, it’s easy to put off the decisions and actions that we don’t want to deal with just yet. Today, we talk about some of the financial matters people are prone to put off and what you would be better off tackling right away. You might be surprised to find it wasn’t so hard to handle after all!
Read More