Retirement Ready

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. Remember, having a plan and understanding what’s in it can save you a lot of heartache later on. 

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

• Some people take too much risk to make up for lost time.

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

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!

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

• What does it mean when someone is risk averse?

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

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. Listen in as we talk about tax planning in retirement!

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

• Why is tax planning important?

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

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.

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

• Overconfidence in the stock market.

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

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. 

Here’s what you’ll learn on today’s show:

• What mistakes does Eric see repeatedly?

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

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? Stick around to find out!

Here’s what you’ll about learn today:

• The physical needs are your retirement basics.

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

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.

Here are the quotes we dive into and turn into financial advice:

• “Life’s like a box of chocolates, you never know what you’re going to get.”

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

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!

Here’s what we discuss in today’s show:

• Is deferring taxes the right choice?

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

When you work with a financial advisor, you aren’t just talking about money. Saving for your retirement also includes thinking about what kind of retirement lifestyle you want to have and what you need to keep in mind for the long-run. Do you want to work, by choice? What kinds of expenses will you have and how are they different in retirement? Is your money going to last for 30 years of retirement? Eric has seen his clients through all of these decisions and shares what to keep in mind about retirement.

Here’s what to consider before you retire:

• Some choose to work well into retirement. 

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

Let’s talk about the different tax mistakes retirees are prone to make. Between changing rules and a lot of financial documents to manage, you’ll want to avoid these tax mistakes. Eric talks us through where people get tripped up and why. What you pay in taxes can make a significant impact on your nest egg, so be sure to work with a financial profes-sional who can help you navigate them in retirement. 

Here are the tax mistakes we discuss today:

• Forgetting the required minimum distribution. 

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