Retirement Ready

What kind of personality do you have when it comes to money? Before you put together a financial plan, it’s important to understand the way you think and approach money. We talk through a few different personalities Eric commonly sees and how he advises them. Whether you are spending whenever you get a good excuse to or more of an intentional spender, it’s good to be cognizant of how you handle it and what possible downfalls you may face.

Here are the spending personalities we talk about today:

• The emotional spender.

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

From teachers to engineers, there are a variety of people who work with Eric and his team to build a solid financial plan. Those in similar professions tend to have similar mindsets when it comes to finances. Listen in as we discuss what similarities Eric sees across different industries and how he approaches each of them.

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

• Teachers are used to stability and tend to be risk-averse.

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

While no one really likes to talk about it, life insurance can be an important part of your financial plan. We talk about why people cringe when they hear the term, who most needs it, and why you might want to reconsider your preconceived notions about it. Life insurance sometimes gets a bad rap, but it can be a powerful tool. If you care for someone else and you hate taxes, look at life insurance.

Here’s what we talk about on today’s show:

• Why is “life insurance” such a dirty word?

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

Today, we take some quotes from the gruff but beloved Parks and Recreation character, Ron Swanson. He’s got a lot of dry sarcasm that can be hilarious, and surprisingly, can teach us a thing or two about financial planning. We share some laughs and some financial wisdom as we talk through some of these fun quotes from the tv show. 

Here are some of the quotes we talk about on today’s show:

• “There’s only one thing I hate more than lying….”

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

Some of the strategies of yesteryear might not be the right strategy for you today. We talk through different financial strategies people have used and what makes the most sense for your financial plan.

Are you saving your money or investing it? Are you actually as diversified as you think you are? Are you using your Social Security strategically in retirement? Knowing how all of these things can work in your plan can make a big difference in your retirement income and taxes.

Here are some of the outdated strategies we discuss on today’s show:

• Using savings accounts for long-term growth.

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

The term might sound fancy, but non-correlated income doesn’t have to be confusing. Ask, which one of these is not like the other? In retirement planning, you want to have some income that is not dependent on something else, such as the stock market. In this episode, Eric talks through some different examples of non-correlated income and how it can shore up your retirement income. 

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

• How does non-correlated income work?

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

We play a game of fact or fiction when it comes to these five financial statements. Eric explains which one is which and shares why these ideas are true or false. As you make a financial plan, it’s crucial to base it on facts and reality so you can best prepare for retirement.

Today, we talk about what taxes really look like in retirement, what expenses you should expect, and how to keep your investments safe.

Which of these is fact and which is fiction:

• Fact or Fiction: Social Security is taxable.

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

No one wants to find themselves in a financial disaster. Having a plan is a great way to start. On today’s show, we talk about simple strategies that can make a huge difference in your financial future.

Here are the important strategies we discuss on today’s show:

• Updating out of date legal documents. (1:05)

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

Let’s talk about some retirement statistics and hear Eric explain some of the reasons behind it. Are you among the 56 percent of Americans losing sleep thinking about retirement? That might be a sign you need to make a plan so you can rest easily.

Knowing is way better than worrying. A large percentage of Baby Boomers think they can’t retire yet, but can they? One third of retirees still having a mortgage might go against some conventional ways of thinking, but is it a problem? Eric talks about how these things impact planning on today’s show.

Here are the stats we discuss:

• Women are 27 percent more likely to have no or low retirement savings. (0:59)

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

Why wouldn’t someone want to work with a financial advisor? In today’s episode, we’ll discuss some common reasons why someone might hesitate to work with one. To some, having an advisor sounds like added cost or something only for the rich. Instead, the value you receive from an advisor and having a customized financial plan could make all the difference in your financial life. 

Here are the reasons some people avoid meeting with an advisor:

• The perceived lack of trust holds people back. (1:14)

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