Retirement Ready

Navigating life's financial crossroads can be tricky, especially when it involves your financial future. In this episode of Retirement Ready, Eric addresses these complex issues head-on. How do you best evaluate your broker and your investment performance against the S&P 500? Eric says a lot of that comes down to setting expectations and understanding the risks. Then, Holly wants to know what to consider before making a midlife...

We are all guilty of procrastinating from time to time. Financially speaking, though, this can get you into a lot of trouble. Let’s talk about the areas where it might feel better to kick the can down the road. 

Ultimately, it’s best to get things taken care of sooner, rather than later. Dealing with financial stuff or tightening up the budget might not sound appealing at first, but doesn’t have to stress you out. Sometimes worryin...

Americans over 60 have lost more than $3.1 billion in various forms of fraud and scams in the last 12 months! Today we talk through some of the common scams people unfortunately fall for and how you can stay vigilant against it. As the scams get more sophisticated, it can be harder to see through them. Understanding what ones to look out for will help you steer clear of these schemes.

Here’s some of what we discuss in this episod...

There are a number of financial ideas that people have differing opinions on. Eric shares today which of these he agrees with or disagrees and why. From paying off the house to having life insurance after you retire, each of these financial concepts will give you something to consider as you compare to what you’re doing.

Here’s some of what we discuss in this episode:

• Should you pay off your house as soon as you can?
• Individu...

Unfortunately, divorce happens. When it does, no one wants to make costly financial mistakes amidst an already stressful time. Today, we talk about the mistakes that can happen and how to avoid them when it comes to dividing up your assets with a spouse. 

Here’s some of what we discuss in this episode:

• Choosing the house vs. other assets.
• Consider the tax implications and long-term impact.
• Combining accounts and rolling over ...

In movies, there are all-time classic villains like Darth Vader or the Wicked Witch of the West. When it comes to the financial world, what kind of villains should you look out for? Just like some of these cinematic villains, some of these financial elements may have a bit of nuance and history that can make it hard to label them all good or all bad.

Here’s some of what we discuss in this episode:

• The stock market can be a fo...

When you’re younger, life insurance is often thought of as an income replacement as needed. But as you get older and into retirement, you might find other uses for life insurance. When thinking ahead for your estate and how it passes to beneficiaries, life insurance can prove to be a useful tool.

Currently, the proceeds from life insurance are tax-free. How does that change how you include it in your financial plan? Eric outlines s...

What kind of risks do you take in your financial life? As you get less comfortable with things like climbing up ladders and riding on skateboards, you might also become less financially risky. When you enter retirement, how you view your money in the market changes significantly from your working years. It’s important to look at your portfolio to ensure your investments match your risk tolerance.

Eric and his team use a risk analys...

A lot of times, when you consider what is happening with your money, questions arise. Instead of letting those questions serve as a mental roadblock, ask a qualified financial professional. You may be surprised at what you hear! Or, you may feel validated that you are headed the right direction. On today’s show, Eric answers three questions from listeners.

Here’s some of what we discuss in this episode:

• Mailbag: How much mone...

Why is retirement planning different than the “good old days” that our parents and grandparents experienced? This is one of those cases where you most likely can’t follow the same plan as previous generations and expect it to work out the same. Things like pensions, Social Security, and even RMD age have changed. Is your financial plan set up accordingly or is it in need of some changes to match?

Here’s some of what we discuss in...

When is the perfect time to retire? One question from the mailbag asks whether retiring now or in two years will make a big difference. Stay tuned as Eric answers this listener question and more in this week's show. 

Here’s some of what we discuss in this episode:

• Mailbag: I’d like to retire soon, but how big of a difference will it make now or in two years?
• Mailbag: How important is it to have a financial advisor? 
• Mailbag: ...

More than likely, you’ve heard about financial commentator, Dave Ramsey. Today, we talk about some of Dave’s core beliefs and how they may differ from those of a licensed financial advisor. While Dave’s tips and baby steps have helped people, it’s worth taking some of his advice with a grain of salt. 

Here’s some of what we discuss in this episode:

• Should you cut up your credit cards?
• Is whole life insurance a rip-off?
• Should...

Every day you have to make choices about your money. What to spend it on, when to save, and how to manage it well. We tackle three questions from the mailbag today from people facing a financial decision. From learning how to take care of the household finances after one spouse passes to deciding about helping a child pay for college, Eric can help point clients in the right direction.

Here’s some of what we discuss in this episo...

What does the voice of greed sound like? We hear a lot in the financial space, some of it sound advice, and some of it just plain greedy (and even risky). There’s a time and a place for risk, but it comes down to planning. Not all of your money should have the same risk profile. Working with a financial advisor can help you determine how much risk is good vs. having safety.

Here’s some of what we discuss in this episode:

• The ...

Sometimes we fall into playing the guessing game when it comes to our finances. For instance, how much do you really need in retirement? Instead of grabbing at arbitrary numbers, first think about how much you spend. Some of your expenses may change in retirement compared to your working years, but plan for your needs based on your expenses and your goals.

Here’s some of what we discuss in this episode:

• How much will you need...

When you retire, you have to be strategic about what you do with your money. In today’s show, Eric answers three questions from the mailbag about how to make the best financial decision possible with your money once you’re retired. 

Here’s some of what we discuss in this episode:

• Mailbag: What’s the maximum income I can have in retirement without paying taxes?
• Mailbag: Should I pay off my daughter’s college loan?
• Mailbag: Any...

There are some common questions that come up around inheritance, so today we are going to tackle a few! Whether you have recently inherited or want to set up your estate in a way that makes it easier on your beneficiaries, there’s something for you to learn in today’s show.

Here’s some of what we discuss in this episode:

• Should my mom sign the house over to me before she dies?
• How will I be taxed on inherited stocks?
• What if ...

There are so many different ways to approach the subject of financial planning. In light of the holidays, we wanted to have a little fun and compare some Christmas classic songs with financial lessons.

For starters, as you sing about Rudolph, it’s easy to see now what a great asset he had in that shiny bright nose. What financial tools are underrated and a better asset than you originally thought? Or, what happens after grandma get...

When you sit down to talk about your finances, sometimes you run into a question that stumps you. Even if you can’t fully answer the questions, it’s still important to consider these when financial planning. For instance, no one really knows when the next market crash will hit. We can, though, consider what caused market crashes in the past and then set up your financial plan strategically to account for the possibility of a crash ...