Think you’ve figured out the secret to beating the system when it comes to your finances? What financial lies might you be telling to yourself and how can you overcome them?   Read and learn more: https://petersonfg.com/financial-lies-we-tell-ourselves/   What we discuss: 1:00 - How often do people borrow money from their 401(k)? 2:42 - The stock market seems rigged. 5:04 - Isn’t the bank the safest place? 7:05 - Maybe I’ll get more serious about investing next year. 9:44 - We’ll take care of each other when we’re older.   

Retirement Ready

Financial Lies We Tell Ourselves

Sometimes wisdom comes from the most unlikely places. Today we take celebrity advice and apply it to our own financial lives for a new take on how to approach your financial plan.   Read and learn more: https://petersonfg.com/unlikely-financial-wisdom/   What we discuss: 1:21 - “I’m my own worst enemy.” 4:43 - “Anybody you put on TV for five hours a week is inevitably going to say something stupid at some time.” 7:03 - “Everybody has got a plan until they get punched in the mouth.”  

Unlikely Financial Wisdom

Are there any good reasons to skip out on working with a financial advisor? We talk through some funny ones on today’s show.   Read more and get additional financial information: https://petersonfg.com/reasons-to-not-work-with-a-financial-advisor/   What we discuss on today's episode:  1:03 - You’ve already mastered the internet. 3:36 - You like to DIY. 5:25 - Maybe you want to work until you die. 6:56 - You want to rely on the government for support. 9:32 - You hope your kids get nothing.  

Reasons to NOT Work With a Financial Advisor

We are opening up the mailbag today to answer some listener questions. We will be discussing rental properties, taxes on sold businesses, and changing advisors based on investment performances.    Read more and get additional financial information: https://petersonfg.com/mailbag-rental-properties-advisor-reviews-and-more/   What we discuss on today's episode:  0:46 - Should I pay off my mortgage before buying a rental property? 4:21 - What are the tax implications on selling a business building? 8:03 - Should I reevaluate my advisor based on portfolio performance?    

Mailbag: Rental Properties, Advisor Reviews, and More

What do you need to know about retirement income? From Social Security to planning for inflation, Eric breaks down the basics of what you need to know and how to make a plan that fits your future.   Read more and get additional financial information: https://petersonfg.com/retirement-income-planning-essentials/   Key Points:  0:47 - Should we plan to retire for years or decades? 2:04 - How long will you be able to work in retirement? 4:00 - When should you turn on Social Security? 7:22 - Don’t forget inflation!

Retirement Income Planning Essentials

We all want to get to the easy improvements, especially ones that can make a big impact. On today’s show, we talk about easy financial changes you can make to improve your situation. Have you done any of these already?   Read more and get additional financial information: https://petersonfg.com/easy-financial-improvements-to-make/   Key Points:  1:01 - What should you do with cash? 4:22 - Do you have an old life insurance policy? 6:15 - Have you left behind a 401(k)? 7:39 - Are your managed accounts being well managed?

Easy Financial Improvements To Make

As your children go off to college, trade school, or work and leave your home, what do you need to know about empty nest syndrome? What are some major financial issues you might face in this time of life?  Today, we discuss the kind of financial decisions you may make in this next stage of life.     Read more and get additional financial information: https://petersonfg.com/empty-nest-syndrome/   Key Points:  1:24 - What do you do about college expenses? 3:10 - How can you teach kids about retirement savings? 5:39 - What opportunities do you have now?  6:44 - How do you ease off expenses? 8:55 - Should you downsize?

Empty Nest Syndrome

We quiz Eric with a few multiple-choice questions all about retirement. Which one will he choose? Do you agree?    Read more and get more financial information at: https://petersonfg.com/is-that-your-final-answer-retirement-quiz/   Key Points:  0:46 - Let’s play a multiple-choice game! 1:02 - What scares the average person the most about retirement? 2:26 - What scares Eric about the coming years? 3:19 - Which tax situation describes the average retiree? 5:16 - How much money do you need to retire comfortably? 8:35 - What do people wish they had more of in retirement?

Retirement Quiz - Is That Your Final Answer?

Instead of getting stuck in a rut after a financial mistake, it’s important to move forward in the right direction. So, what can you do to recover? Find out on today’s show.   Read more and get additional financial resources here: https://petersonfg.com/moving-on-from-financial-mistakes/    What we discuss on this episode:  1:27 - Start by determining the cause. 3:11 - Increase the savings rate. 4:52 - Recalibrate your goals. 7:08 - Have a plan of action.

Moving On From Financial Mistakes

Are you feeling frustrated when it comes to your financial planning? If so, these three common financial complaints might make you feel like you aren’t alone, but also give you hope for a better scenario.   Read more and get additional financial resources here: https://petersonfg.com/what-to-do-about-common-financial-complaints/    What we discuss on this episode: 1:45 - “My advisor takes too much risk.” 4:35 - “My fees are too high.” 8:20 - “I only hear from them when they want something.”

Common Complaints About Financial Advisors

What do couples tend to argue about when it comes to their money in retirement? Eric talks through what you need to do to get on the same page.   Read more and get additional financial resources here: https://petersonfg.com/navigating-retirement-disagreements-between-spouses/    What we discuss on this episode:  1:08 - How much risk should you have in your portfolio? 3:06 - What age makes sense to retire? 6:23 - Do we leave something behind for heirs? 10:25 - What is the dream retirement?

Navigating Retirement Disagreements Between Spouses

Do you have a strategy in place to avoid these retirement planning mistakes? Eric talks through what to do instead to make sure your plan is a success.   Read more and get additional financial resources here: https://petersonfg.com/5-most-common-retirement-planning-mistakes/    What we discuss on this episode:  1:01 - What are the top five retirement planning mistakes? 1:09 - Ignoring the future tax implications. 2:49 - Starting Social Security too early. 5:05 - Focusing on returns vs. the income needed. 6:56 - Taking advice from friends and family. 8:25 - You have to find the right balance.

5 Most Common Retirement Planning Mistakes

In those final years before retirement, what should you be considering and doing now? We tackle a list of things you should do in the years before retirement.   Read more and get additional financial resources here: https://petersonfg.com/the-retirement-countdown/    What we discuss on this episode:  0:46 - Ready for the final countdown toward retirement? 1:20 - When should we try to be debt-free before retirement?  3:30 - How do you generate income in retirement? 5:48 - Should you and your spouse retire at the same time? 8:44 - Is there a financial advantage to staggering retirement?

The Retirement Countdown

When retirement planning, you may have to make decisions regarding your finances such as which pension package to take or how to plan for long-term care. Eric answers three questions from the mailbag in today’s podcast.   Read more and get additional financial planning resources: https://petersonfg.com/mailbag-do-i-need-long-term-care-insurance-if-i-expect-an-inheritance/    What we discuss on this episode: 0:46 - Mailbag: Do I need long-term care insurance if I’ll later receive inheritance? 4:54 - Mailbag: Which pension package should I choose? 8:33 - Mailbag: What should I do if my job is eliminated and I’m only 55 years old?

Mailbag: Do I Need Long-Term Care Insurance If I Expect an Inheritance?

Many of us have a 401(k), but what mistakes can get overlooked? Eric shares a few key points to keep in mind when it comes to your 401(k). Read more and get additional financial resources here: https://petersonfg.com/retirementreadypodcast/   What we discuss on this episode:  0:46 - The 401(k) is an easy way to save. 3:05 - Did you leave it with a former employer? 5:25 - Are you rebalancing? 7:06 - Is your target date fund right? 9:18 - Who is the client in the 401(k) plan?

401(k) Mistakes You Don’t Want To Make

Financial and retirement planning guidance from Des Moines' Eric Peterson of Peterson Financial Group.

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Retirement Ready

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