Retirement Ready

By Eric PetersonBusiness News Investing Business News

Retirement Ready episodes

December 08, 2022Year-end Roth Conversions
As we start to close out 2022, what are the things we should be doing with our finances? Is now the time to do a Roth conversion? Depending on your situation, you may want to consider it before the ball drops on New Year’s Eve. Eric explains how a Roth conversion works, what the benefits are, and why you’ll want to talk to your advisor about whether you should do one right now.

Here’s what we talk about in regard to Roth conversions:
Why you should consider a Roth conversion and what it is. (2:38)
What the limits are and why a conversion benefits high-income earners. (4:30)
Avoid making these common Roth conversion mistakes. (5:43)
Act wisely and have a tax analysis. (7:09)

Contact us: http://petersonfg.com
12 min
December 01, 2022Inheritance 101
An inheritance isn’t something you experience every year, so when it does happen, there are a lot of details to understand. We talk about some of the questions surrounding inheritances. Eric also shares the most common mistakes and how you can avoid them.

Here are the questions Eric answers on today’s show:
What you need to know about the tax implications with an inheritance. (1:00)
The elimination of the stretch IRA changed the rules for inherited IRAs. (3:16)
These are some of the most common mistakes people make. (7:05)
What mistakes do beneficiaries make? (9:02)

Contact us: http://petersonfg.com
12 min
November 22, 2022Mailbag: Do I Have Too Much in Cash?
When people are in retirement or closer to retirement, the accessibility of money goes up. So, what does that mean when you have to take out RMDs? How do you know if you have too much money in the bank? Talking through this with an advisor might help you make the right next steps with your money. We also talk about what mistakes people are prone to make if they try to DIY their retirement planning without a financial advisor.

Here are the questions Eric answers on today’s show:
Mailbag: How do I figure out all my RMDs? (0:47)
Mailbag: Do I have too much in cash? (4:57)
Mailbag: What aspects of my retirement plan am I most likely to mess up without an advisor? (8:02)

Contact us: http://petersonfg.com
12 min
November 17, 2022Retirement Planning with Mr. Miyagi
Let’s dust off one of our favorite movies from the 80s today and talk about the financial advice you might get from Karate Kid’s Mr. Miyagi. The story is about someone who learns with the help of a mentor, just like you might learn from a financial mentor. With some planning and some focus, you’d be amazed just what you can accomplish. Find out what Eric has to say about retirement planning and how it relates to these movie quotes.

Here are the quotes we discuss on today’s podcast:
“Walk on the left side of the road, safe. Walk on the right side, safe. Walk in the middle? Sooner or later, get squished…” (3:40)
“Trust the quality of what you know, not the quantity.” (5:59)
“Sometimes what the heart knows, the head forgets.” (8:54)
“Man who catch fly with chopstick can accomplish anything.” (11:10)

Contact us: http://petersonfg.com
16 min
November 10, 2022Mailbag: Is It Irresponsible to Retire Early?
From yearly taxes and investing strategies to retiring early, there’s always a question that comes up about your current financial situation.
Eric answers three questions from the mailbag today, all common scenarios that you might one day come across yourself. Find out what he has to say!
Here are the questions Eric answers on today’s show:
Mailbag: If now is actually a good time to invest, should I rearrange money from savings? (0:47)
Mailbag: Without the child tax credit, I always owe on my taxes. Is that a problem? (3:51)
Mailbag: Ready to walk away from my job. Is it irresponsible to retire early? (5:46)
Contact us: http://petersonfg.com
11 min
November 03, 2022Retirement Red Zone
Let’s talk football! As fans of the game, we make some comparisons between football terms and retirement planning. How can you win when it comes to our financial plan? Understanding the strategies ahead of time and having the right team behind you can make all the difference.
Which of these sayings relate to your financial life?
What is the retirement red zone? (0:47)
Is the hurry-up offense a good strategy? (5:09)
When should you take the victory formation? (7:39)
Even the best of the best have a good coach. (9:20)
Contact us: http://petersonfg.com
13 min
October 27, 2022Mailbag: Do I Need To Budget For Retirement?
Does a budget really make that big of a difference? Eric talks about what this looks like in retirement and why it is critical to your financial plan.
Not only does it impact your retirement lifestyle, but it has a huge implication on your taxes. Eric answers this question and two others from the mailbag on the podcast.
Which of these sayings relate to your financial life?
Do I need to start budgeting before I retire? (1:12)
Are ETFs always better than mutual funds? (4:15)
How should my son invest some gifted money? (6:46)
Contact us: http://petersonfg.com
12 min
October 20, 2022How Often Do These Financial Situations Happen?
Day-to-day, Eric works with a lot of people as he helps them navigate a variety of financial decisions. But what might seem rare to you could be a more common occurrence to witness in his office. How often does Eric come across scenarios like these? You might be surprised by some of the answers!
Which of these sayings relate to your financial life?
Do people find out they can retire tomorrow if they wanted to? (0:47)
Are clients prone to disregard the advice from their financial advisor? (2:37)
Emotions happen. How often does someone cry during a financial meeting? (5:13)
Are unexpected inheritances a rare occurrence? (8:17)

Contact us: http://petersonfg.com
12 min
October 13, 2022Mailbag: Should I Get a Prenup?
What are the financial implications of getting married later in life? There are a lot of variables that go into this financially speaking. Have you talked through what happens when one of you passes away? Do you or your fiancé have children? Eric and Marc go over what this may look like and also answer two other questions from the mailbag.
Which of these sayings relate to your financial life?
Mailbag: How complicated is a 401(k) rollover? (0:47)
Mailbag: Should I get a prenup before marrying at age 52? (3:47)
Mailbag: What do I need to know about an inherited IRA? (8:54)

Contact us: http://petersonfg.com
14 min
October 06, 2022Financial Advice from Seinfeld
Ever take financial advice from your favorite TV show? Believe it or not, you might learn something, even from an unlikely source. Inspired by a classic sitcom, today we take some quotes from Seinfeld to apply them to our financial plans.
Which of these sayings relate to your financial life?
“Sometimes the road less traveled is less traveled for a reason.” (2:47)
“It’s amazing that the amount of news that happens every day always fits in the newspaper.” (4:17)
“The true spirit of Christmas is people being helped by people other than me.” (7:19)
“I am so busy doing nothing…” (9:47)

Contact us: http://petersonfg.com
14 min