Recent Shows
We spend a lot of time we researching and gathering information but some of the best guidance for retirement planning can be found right in front of us. We’ll show you that’s the case by taking farming and extracting five lessons that you can apply to your planning strategy.
Show notes and additional resources: https://principalpreservationservices.com/ep-24-5-retirement-lessons-you-can-gather-from-farming/
Today’s rundown:
1:02 – Mike and his family own a hobby farm with multiple animals.
2:20 – Let’s take farming and relate it to retirement planning.
2:33 – The first lesson is understanding liquid vs non-liquid assets.
5:08 – The second lesson we can find in the chicken and the egg.
8:13 – The third lesson is protecting yourself from risk like predators on a farm.
10:34 – Long-term care is another predator people don’t always consider.
11:53 – Hidden fees is the last one that can attack your ‘chickens.’
12:30 – The fourth lesson is a diversity of crops to make sure your business isn’t too reliant on any one asset.
15:39 – The final lesson can be taken from the rooster.
17:31 – Mailbag question: I’d really like to meet with a financial advisor but my husband says we’re fine handling our investments ourselves. Is that okay to do on our own?
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Episode Show Notes
Ep 24: 5 Retirement Lessons You Can Gather From Farming
We spend a lot of time we researching and gathering information but some of the best guidance for retirement planning can be found right in front of us. We’ll show you that’s the case by taking farming and extracting five lessons that you can apply to your planning strategy.
Ep 23: Lies Learned in Broker School
A lot of financial professionals will tell you things that just aren’t true. That doesn’t mean they do it intentionally. Many times these professionals have been given talking points, which they might even feel to be true themselves. We want to talk about the statements you should be cautious of if you hear them from an advisor.
Ep 22: Is Having ‘Cash’ Good or Bad
Of course we all want to have a healthy bank account and feel the security of knowing we have money at our disposal. Having plenty of cash on hand can help in the event of an emergency but building up your account too much can actually be a detriment to your retirement. Let’s talk about the situations where cash can be a benefit and the times when it can hurt you.
Ep 21: Be Aware of Bias in Financial Media
We live in an era where everyone has a platform and it’s more profitable to be entertaining than to be informative. That’s led to bias in media and finance is no exception. Let’s take a look at the most common places you’ll find bias and how to make sure you’re getting information that’s accurate for your retirement plan.
Ep 20: Do You Need to Be Debt Free to Retire?
Do you believe you need to be completely debt free to retire successfully? Or are you okay carrying some balances beyond your working years? There are many opinions about the best way to handle debt and retirement planning, so we’ll tackle them all on today’s show.
Ep 19: The Ins and Outs of Mutual Funds
Nearly everyone invests in mutual funds at one point or another, but is that the best strategy for your retirement plan? As the landscape continues to change, we wanted to look at the ins and outs of mutual funds to give you a better understanding of what you’re buying into. We’re joined by advisor Kasey Byrd to talk about our strategy when it comes to this investment option.
Ep 18: Are You Making These Excuses to Avoid Retiring?
There’s plenty of misinformation and rumors in the world of Social Security and that might cause a little anxiety when it comes time to claim your benefit. On this show, we’ll look to clear up the top 5 misunderstandings about Social Security.
Ep 17: 5 Traits Your Financial Advisor Should Have
How do you know if an advisor is a good fit? That’s a question that keeps many people from working with a professional so let’s identify the essential traits every advisor should possess. That might be easier said than done so let’s also talk about how you can determine whether an advisor has these characteristics.
Ep 16: Top 5 Biggest Social Security Misunderstandings
There’s plenty of misinformation and rumors in the world of Social Security and that might cause a little anxiety when it comes time to claim your benefit. On this show, we’ll look to clear up the top 5 misunderstandings about Social Security.
Ep 15: Finding the Silver Lining in 4 Challenging Financial Situations
Not everything goes as planned when it comes to your financial life, but how will you respond to difficult situations? We’ll look at some negative circumstances that many retirees and pre-retirees face and help you find the silver lining.