Retirement Ready

Are you looking at the future and wondering, “What if…?” We talk through several scenarios to see what may or may not be possible and how you can prepare accordingly. 

Read more and get additional financial resources here: https://petersonfg.com/the-what-if-game/ 

What we discuss on this episode: 

1:20 - What if… interest rates double?

3:24 - What if… married couples under 30 have one (or less) child per family?

6:31 - What if… college education becomes free?

8:56 - What if… we experience another economic downturn?

11:26 - What if… a state decides to secede from the union?

15:02 - What if… price of oil doubles?

16:10 - What if… we adopt a single payer healthcare system?

What kind of tax plans have been proposed lately? These plans may cause you to strategize differently when it comes to your financial plan.

Read more and get additional financial resources here: https://petersonfg.com/navigating-the-new-administrations-tax-plan/ 

What we discuss on this episode: 

1:08 - Top individual tax rates will increase.

3:50 - What happens when the corporate tax rate goes up?

5:42 - Long-term capital gains tax would almost double.

9:47 - What would the elimination of the step-up in basis mean?

12:52 - Is generational wealth being targeted?

On today’s episode of the Retirement Ready podcast, we check in to see how ready you really are. What sorts of things are you overlooking, and where do you need to stay better focused? Know all you need for retirement? Take this little quiz to see where you stand when it comes to retirement readiness.

Read more and get additional financial resources here: https://petersonfg.com/retirement-readiness-pop-quiz/

What we discuss on this episode: 

1:08 - How much does it cost you to fund your lifestyle?

3:26 - What do you need your net worth to be to retire?

7:08 - How does the latest news impact our retirement plans?

America’s pastime has been enjoyed by people of all ages for many, many years, but how much have you thought about baseball from a retirement planning perspective? Today we’ll explore the parallels between being successful in sport and finances.

Read more and get additional financial resources here: https://petersonfg.com/baseball-and-retirement-planning/ 

What we discuss on this episode:

1:40 – Home runs

4:35 – Data and analytics

7:19 – Five-tool players  

Which of these financial opinions are really worth paying attention to? Eric shares ways to reframe and better understand these financial opinions and how they work in your financial plan.

Read more and get additional financial resources here: https://petersonfg.com/unpopular-financial-opinions/ 

What we discuss on this episode: 

2:23 - What is the appropriate use of life insurance?

5:25 - Should you pay off the house early?

8:45 - How should you use annuities?

You may have heard of at least one if not all of these financial rules, but should you follow them? What do they really mean? On today’s episode of the podcast, we talk through four common rules of thumb when it comes to financial planning and what Eric advises about them.

Read more and get additional financial resources here: https://petersonfg.com/financial-rules-of-thumb/ 

What we discuss on this episode: 

1:51 - What’s the Rule of 100?

3:03 - The 75 percent rule means what?

4:50 - Do you need six months in savings?

8:01 - Should you use the 4 percent rule?

While financial planning has a lot of numbers involved, here are a few letters and abbreviations you should know, too. Eric explains several common financial abbreviations.

Read more and get additional financial resources here: https://petersonfg.com/financial-abbreviations-explained/ 

What we discuss on this episode: 

1:05 - What is an ETF? 

2:36 - Do you know what an RMD is?

4:22 - What about an RIA?

6:05 - What is an FRA?

We all hear retirement plans and opinions but does Eric agree with these? On this episode of the podcast we play a game of “agree or disagree?” with some commonly thought retirement planning statements. What do you think?

Read more and get additional financial resources here: https://petersonfg.com/do-you-agree-or-disagree-with-this-retirement-advice/ 

What we discuss on this episode:

0:58 - Should you pay off the house ASAP?

2:26 - Are individual bonds better than bond funds? 

4:17 - Do you need life insurance once you retire?

6:00 - Are annuities a rip-off?

7:39 - Will you be in a lower tax bracket in retirement?

When it comes to retirement, beyond the numbers, how do you want your life to look? Eric answers three questions from the mailbag this week that go beyond the basic financials and consider the retirement lifestyle and mindset listeners are most interested in pursuing.

Read more and get additional financial resources here: https://petersonfg.com/mailbag-can-i-sell-my-home-and-just-rent-in-retirement/ 

What we discuss on this show: 

0:47 - Mailbag: Can I sell my house and rent instead in retirement?

4:58 - Mailbag: What happens to my insurance when I get remarried?   

8:08 - Mailbag: Can I just invest in and live off of dividend-paying stocks? 

Have you been procrastinating putting together a financial plan or do you have a sense of urgency? What events may prompt you to act quickly?

Read more and get additional financial resources here: https://petersonfg.com/what-creates-a-sense-of-urgency-with-your-financial-plan/ 

What we discuss on this episode: 

1:23 - The loss of a job creates a sense urgency.

3:29 - Do you have to make a decision about an early retirement buyout?

4:58 - Have you been procrastinating about retirement coming?

6:28 - Maybe an illness has changed your trajectory. 

7:47 - The death of a spouse changes things.

9:30 - You don’t want a market crash to alter your retirement plans.