Retirement Ready

We are all guilty of procrastinating from time to time. Financially speaking, though, this can get you into a lot of trouble. Let’s talk about the areas where it might feel better to kick the can down the road. 

Ultimately, it’s best to get things taken care of sooner, rather than later. Dealing with financial stuff or tightening up the budget might not sound appealing at first, but doesn’t have to stress you out. Sometimes worrying about it is worse than it really is.

Here’s some of what we discuss in this episode:

• Talk with your parents about financials as they age.

Get in touch with the Peterson Financial team: https://petersonfg.com/

Americans over 60 have lost more than $3.1 billion in various forms of fraud and scams in the last 12 months! Today we talk through some of the common scams people unfortunately fall for and how you can stay vigilant against it. As the scams get more sophisticated, it can be harder to see through them. Understanding what ones to look out for will help you steer clear of these schemes.

Here’s some of what we discuss in this episode:

• Financial advisors have high level protection and help clients who may have been hacked.

Get in touch with the Peterson Financial team: https://petersonfg.com/

There are a number of financial ideas that people have differing opinions on. Eric shares today which of these he agrees with or disagrees and why. From paying off the house to having life insurance after you retire, each of these financial concepts will give you something to consider as you compare to what you’re doing.

Here’s some of what we discuss in this episode:

• Should you pay off your house as soon as you can?

Get in touch with the Peterson Financial team: https://petersonfg.com/

Unfortunately, divorce happens. When it does, no one wants to make costly financial mistakes amidst an already stressful time. Today, we talk about the mistakes that can happen and how to avoid them when it comes to dividing up your assets with a spouse. 

Here’s some of what we discuss in this episode:

• Choosing the house vs. other assets.

Get in touch with the Peterson Financial team: https://petersonfg.com/

In movies, there are all-time classic villains like Darth Vader or the Wicked Witch of the West. When it comes to the financial world, what kind of villains should you look out for? Just like some of these cinematic villains, some of these financial elements may have a bit of nuance and history that can make it hard to label them all good or all bad.

Here’s some of what we discuss in this episode:

• The stock market can be a force for good or for bad.

Get in touch with the Peterson Financial team: https://petersonfg.com/

When you’re younger, life insurance is often thought of as an income replacement as needed. But as you get older and into retirement, you might find other uses for life insurance. When thinking ahead for your estate and how it passes to beneficiaries, life insurance can prove to be a useful tool.

Currently, the proceeds from life insurance are tax-free. How does that change how you include it in your financial plan? Eric outlines some of the options and benefits life insurance can provide.

Here’s some of what we discuss in this episode:

• Life insurance for income replacement.

Get in touch with the Peterson Financial team: https://petersonfg.com/

What kind of risks do you take in your financial life? As you get less comfortable with things like climbing up ladders and riding on skateboards, you might also become less financially risky. When you enter retirement, how you view your money in the market changes significantly from your working years. It’s important to look at your portfolio to ensure your investments match your risk tolerance.

Eric and his team use a risk analysis with prospective clients to help them understand what you have and how exposed you are to risk. From there, you can better make adjustments according to your risk tolerance and financial plan to put your mind at ease.

Here’s some of what we discuss in this episode:

• What kind of financial risks do Eric’s clients take?

Get in touch with the Peterson Financial team: https://petersonfg.com/

A lot of times, when you consider what is happening with your money, questions arise. Instead of letting those questions serve as a mental roadblock, ask a qualified financial professional. You may be surprised at what you hear! Or, you may feel validated that you are headed the right direction. On today’s show, Eric answers three questions from listeners.

Here’s some of what we discuss in this episode:

• Mailbag: How much money do you need to qualify for a continuing care community?

Get in touch with the Peterson Financial team: https://petersonfg.com/

Why is retirement planning different than the “good old days” that our parents and grandparents experienced? This is one of those cases where you most likely can’t follow the same plan as previous generations and expect it to work out the same. Things like pensions, Social Security, and even RMD age have changed. Is your financial plan set up accordingly or is it in need of some changes to match?

Here’s some of what we discuss in this episode:

• Pensions were a staple of retirement plans back in the day.

Get in touch with the Peterson Financial team: https://petersonfg.com/

When is the perfect time to retire? One question from the mailbag asks whether retiring now or in two years will make a big difference. Stay tuned as Eric answers this listener question and more in this week's show. 

Here’s some of what we discuss in this episode:

• Mailbag: I’d like to retire soon, but how big of a difference will it make now or in two years?

Get in touch with the Peterson Financial team: https://petersonfg.com/