Are you wondering what to do with your 401(k)? How can you make sure this investment is set-up well to suit your needs? Let’s answer some of the most common questions regarding this popular retirement account.   Read more and get additional financial resources here: http://petersonfg.com/making-the-right-decisions-with-your-401k/    On today's show:  1:04 - Is free advice worth taking? 3:10 - Is it a good or bad idea to take a loan out on a 401(k)? 4:45 - When should you do a 401(k) rollover? 7:00 - Should you use target date funds? 9:15 - Which is better: Roth or Traditional 401(k)? 

Retirement Ready

Making The Right Decisions With Your 401(k)

What kind of classic TV personality do you most relate with when it comes to handling your finances? Are you more like Gilligan or Barney Fife? Find out on today’s podcast!   Read more and get additional financial resources: http://petersonfg.com/which-tv-character-describes-your-financial-personality/    Today's show schedule:  1:08 - Jed Clampett from the Beverly Hillbillies got rich quick. 3:55 - Fred Mertz from I Love Lucy was always looking for the cheapest solution. 6:11 - Barney Fife felt big dreams were attainable. 8:06 - Gilligan has terrible luck on Gilligan’s Island.

Which TV Character Describes Your Financial Personality?

What little (or not little) things get under your skin when it comes to financial planning? Are they the same pet peeves as Eric’s? Find out on today’s podcast!   Read more and get additional financial resources here: http://petersonfg.com/financial-pet-peeves/    Today's show schedule:  1:11 - Pet peeve: Hidden fees. 3:11 - Pet peeve: Advisors who work more as a salesman. 5:16 - Pet peeve: One-size-fits-all. 6:48 - Pet peeve: Jargon without explanation. 7:55 - Pet peeve: Massive financial plans. 

Financial Pet Peeves

How would you grade yourself on your financial competency? Are you at the top of the class or falling behind? Find out on this episode.   Read more and get additional financial resources here: http://petersonfg.com/grading-your-financial-competency/    Today's show schedule:  0:57 - Do you know how much you actually have? 3:04 - Do you know how much you truly spend? 4:29 - How much risk do you have? 5:58 - What are you paying in fees? 8:43 - Do you know what your income streams are going to look like in retirement?

Grading Your Financial Competency

Are you wondering how much longer you really have to wait before claiming Social Security? Or are you looking to find the perfect financial advisor but haven’t found them yet? Eric answers three questions from the mailbag in this week’s podcast.   Read more and get additional financial resources here: http://petersonfg.com/mailbag-when-should-i-take-social-security/    Today's show schedule:  0:46 - Mailbag: Should I wait to take Social Security until 70? 2:22 - Do you understand the taxes with Social Security? 4:37 - Mailbag: Should I refinance my home and re-do my kitchen? 7:40 - Mailbag: How do I decide the perfect financial advisor for me? 

Mailbag: When Should I Take Social Security?

Whether you are growing some backyard tomatoes or have 100 acres of farmland, what are some financial lessons to be learned? You don’t need a green thumb to understand these financial principles.   Read more and get additional financial resources here: http://petersonfg.com/financial-lessons-learned-from-the-farm/    Today's show schedule:  1:55 - Understanding net worth vs. cash flow. 4:41 - What sort of predators might you face? 7:22 - A diversity of crops is important to maintain.

Financial Lessons Learned from the Farm

Need someone to tell it to you straight? On today’s episode, Eric gives four financial truth bombs that might change the way you think about your financial plan and your portfolio.   Read more and get additional resources here: http://petersonfg.com/financial-truth-bombs/    Today's show schedule: 1:23 - Bonds aren’t always as good as retirees think. 5:14 - The hardest part of investing is managing our own behavior. 7:47 - You aren’t an expert at everything. 10:27 - You probably have more risk in your portfolio than you realize.

Financial Truth Bombs

What financial rules are worth following and which ones need an update? On this episode, we discuss several known financial rules to see which ones are dated and which ones stand the test of time.   Read more and get additional resources here: http://petersonfg.com/outdated-financial-rules/ Today's show schedule:  1:38 - Should you follow the four percent rule?  4:36 - What is the 10-5-3 rule? 5:55 - Does it make sense to change from stocks to bonds as you age? 8:30 - Are you following the million-dollar rule?

Outdated Financial Rules

How can you know your retirement plans are what they should be? What thoughts and assumptions can ruin your retirement? One thing’s for sure--you don’t want to mess it up!   Read more and get additional resources here: http://petersonfg.com/how-to-mess-up-your-retirement-plans/    Today's show schedule:  0:46 - What are some easy ways to mess up your retirement? 2:02 - Thinking of retirement as your destination.  3:45 - Believing that retirement is the cure-all for your problems. 6:18 - Assuming that your spending habits will stay the same. 8:31 - Don’t invest like you are younger than you actually are. 

How To Mess Up Your Retirement Plans

When you see a financial advisor, do you want them to always tell you “you’re right” or do you want someone to coach your through your financial plan? Let’s talk about when the customer isn’t always right when it comes to financial planning.   Read more and get additional financial resources here: http://petersonfg.com/the-customer-aint-always-right-in-financial-planning/    Today's show schedule:  0:47 - Is the customer “always right” in financial planning? 3:29 - When should an advisor push back? 5:14 - Market volatility or financial trends may trigger sudden new ideas, but are they good ones? 6:51 - Consistent coaching can help you with long-term goals. 

The Customer Ain’t Always Right

While many are hitting hard times financially, maybe you are among the few who are doing well and trying to make the most of it like Grace in Ames. Eric gives some advice on what to do with extra cash as well as answering two other questions from the mailbag.   Read more and get additional financial resources here: http://petersonfg.com/what-to-do-with-unexpected-extra-cash-other-mailbag-questions/    Today's show schedule:  0:47 - Mailbag: Should I rollover my 401(k) now? 2:24 - What do you miss out on when moving your 401(k) to an IRA? 4:31 - Mailbag: How should I best invest extra money right now? 7:32 - Mailbag: Is it good or bad to have taxes, legal documents, and investments all handled by the same firm? 

What To Do With Unexpected Extra Cash?

To keep up with current events, we talk about how coronavirus is impacting us on a local level. Then, Eric explains the history of interest rates in light of the latest interest rate forecast from the Federal Reserve.   Read more and get additional financial resources here: http://petersonfg.com/coronavirus-update-and-a-look-at-interest-rates/    Today's show schedule:  1:10 - What is life like right now for Eric in Iowa during coronavirus? 3:55 - Watch where you are getting your news from. 5:20 - What does Eric think about the rate forecast from the Fed? 6:34 - To understand interest rates, let’s go back to 1971. 9:46 - If you are a saver, what is a good way to get a fixed rate of return?

Coronavirus Update and a Look at Interest Rates

When you retire, it’s important to set up several sources of income, particularly predictable income. What are some forms of reliable income and what streams of income are more vulnerable? We'll explore the options and help you determine if they might work for you.    Read more and get additional resources here: http://petersonfg.com/finding-predictable-income-sources-in-retirement/    Today's show schedule:  0:46 - What are retirement income sources people assume are predictable? 2:04 - Are variable annuities a worthwhile retirement income?   4:17 - Should you use bonds to create retirement income? 5:51 - Is there really such as thing as guaranteed income? 8:12 - Right now, coronavirus is highlighting some of the gaps in guaranteed retirement income. 

Finding Predictable Income Sources in Retirement

Do you know the difference between a Roth contribution and a Roth conversion? Or between individual bonds and bond funds? Eric explains the difference between these important financial terms so you can decide what should be included in your financial plan.   Read more and get additional resources: http://petersonfg.com/whats-the-difference-between-these-common-financial-terms/    Today's show schedule:  1:06 - What’s the difference: Roth contributions vs. Roth conversions? 5:08 - What’s the difference: term life and universal life insurance? 7:23 - What’s the difference: qualified account vs. non-qualified accounts? 9:12 - What’s the difference: variable annuity and fixed annuity? 11:26 - What’s the difference: 60-day rollover vs. trustee to trustee rollover? 13:59 - What’s the difference: individual bonds and bond funds?

What’s The Difference Between These Important Financial Terms?

Are you clinging to financial ideas that give you a false sense of hope? On this episode, Eric points to clear strategies for you to make wise decisions when retirement planning.   Read more and get additional resources: http://petersonfg.com/the-fools-gold-of-retirement-planning/    Today's show schedule:  2:12 - You don’t have to hit a certain dollar amount to retire. 4:10 - Don’t think your income needs will decrease necessarily. 7:34 - Don’t count on an inheritance to make up for your poor planning. 9:11 - Now is the time to figure out what your plan is.

The Fool’s Gold of Retirement Planning

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

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Retirement Ready

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