Retirement Ready

What kind of financial wisdom can we take from a baseball player’s quotes? Quite a bit! Today’s quotes from Yogi Berra have a bit of humor and a lot of truth when it comes to your financial plan. From navigating annuities to planning for inflation, Eric shares how these quotes can bring a lot of meaning and understanding to our finances. 

Here are the quotes we talk through on the show:

• “I never said most of the things I said.” (1:49)

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

You may have seen the news about some bank issues with banks like Silicon Valley Bank. Is that cause for concern? If you have money in the bank, Eric explains how much is covered and what you can do to protect yourself. With any investments you make, realize which of the three components you’ll have: safety, liquidity, or growth.

In this episode, Eric also answers two more questions from the mailbag related to retiring early and required minimum distributions. Find out what best practices and rules apply and how they can impact your financial plan. 

Here are the questions Eric answers on today’s show:

• Mailbag: With recent bank failures, should I be worried about investing in a bank? (0:46)

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

Building a successful retirement requires careful planning and wise decision-making. Unfortunately, it's all too easy to undo all of that hard work by falling prey to common pitfalls. Rather than risking the enjoyment and security of your golden years, we’ll discuss some ways to avoid these mistakes and secure your financial future in this episode.  

Here are ways you can easily ruin your retirement (and what to do instead):

• Treating retirement as a destination. (1:12)

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

Every once in a while, financial concepts or strategies get misunderstood or misconstrued. It’s important to understand what you have and why you have it. On today’s show, we break down some financial ideals to find the “mistruths” or lies that can mistakenly be adopted. 

Here are the mistruths we talk about on today’s show:

• “We can beat the market.” (1:40)

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

Roth IRAs have been around for about 25 years, but a lot of people still don’t know how they differ from a traditional IRA. Understanding the difference between the two will help you determine which option is best for your retirement goals. In this episode, Eric shares what you’ll want to know about a Roth IRA and when to use it.

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

• The difference between a Roth IRA vs. traditional IRA. (1:56)        

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

Some financial products or terms are easy to mix up. They sound the same or might do some of the same things, but there’s still an important difference between them. Eric guides us through several of these commonly mixed up financial things. Knowing the difference could help you make the right decisions when it comes to your financial plan.

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

• What are Roth contributions vs. Roth conversions? (1:05)

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

When saving for retirement, a lot of people look to their 401(k). But what happens after you’ve maxed out your contribution based on the yearly limit? Eric explains what options you have to invest toward your retirement beyond a 401(k). This will include money in the different buckets as well as other products to consider.

Here are the questions Eric answers on today’s show:      

• Mailbag: After maxing out a 401(k), where should we go for retirement savings? (0:48)

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

When it comes to where you’ve ended up financially, you may have a running narrative on how that happened. There are a number of common stories people tell themselves to make sense of their situation. On today’s show we discuss some of these stories and how we can both understand them and improve upon them.

Whether you are feeling defeated by the threat of recession or ill-equipped to handle what you have, having a good financial advisor can help you rewrite some of these stories to find your “happily ever after.” 

Here are the common stories people can get tripped up by:

• “I never had someone teach me.” (1:10)

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

When you watch TV shows or movie, it doesn’t take long until you realize who is the main character or who is more of a secondary character. When it comes to your financial life, which strategies, products, or tools are main characters in your financial plan and which ones are secondary?

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

• What role does your 401(k) play in your financial plan? (2:07)

For additional financial information, visit us online: http://petersonfg.com

Do you have all of your money in one place? Sometimes your money should be kept in separate funds and separate places so that it can be used for the appropriate purposes. You want to be able to access the money you have when you need it, both now and in the future.

On today’s show we talk about a few categories that can sometimes get combined and whether they should be together or separate.

Here’s what you’ll learn more about:

• Don’t have your emergency fund with your stock market money. (1:03)

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