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Episode Info:

There are actually a lot of principles from the personal training and fitness world that can be applied to retirement planning. Your portfolio is much like your body in that you have to actively take care of it to maintain its health and wellness. Today we’ll explore those similarities before playing a game of Financial Jeopardy.

On this episode: 

1:14 - Let’s explore the similarities between physical fitness and financial fitness. The first thing is you can’t just read a book or go online to design your plan.

3:08 - Investing your money can be very emotional. Think back to 2008.

4:18 - The next similarity is you need someone that’s looking out for you and making adjustments to your plan based on your needs.

6:20 - Another similarity is you have to put the goals in place before you can put the plan and strategy and place.

8:30 - Let’s play a game of Financial Jeopardy.

9:08 - First answer: Known by many for its high fees and broken promises, this financial product has given a bad name to some of its cousins.

11:15 - Second answer: This requires a financial advisor to put his or her client’s financial best interests before their own.

12:08 - Here’s the best way to find out if your advisor is truly a fiduciary.

14:02 - Third answer: This financial phenomenon is thought by some to be imminent but by others to be far off in the distance, but there’s no denying it will be back eventually.

16:19 - Spotlight Segment featuring Financial Advisor Aaron Dessen

16:48 - Aaron shares the story of a couple he worked with recently that needed to make some changes to get on track for the retirement date he wanted.

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