Financial Fridays with Bob Gustafson - podcast cover

Financial Fridays with Bob Gustafson

Bob Gustafson, Certified Financial Planner•financialfridays.com
Education
Financial education in less than 10 minutes. Host Bob Gustafson provides financial education on all aspects of comprehensive financial planning including cash flow analysis, retirement planning, risk management, investment management, tax management and estate planning.
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Episodes

Smart Strategies for Building Wealth in Your 20s and 30s

Building wealth might sound intimidating, especially when you're just starting your career and possibly juggling student loans. But here's the good news—it’s not as hard as it sounds. With some smart strategies and consistency, young people can set themselves up for financial success.

Sep 24, 2024•12 min

Essential Tips to Become Financially Independent

Many people ask their financial advisors how to become financially independent. For many, it is a goal many aspire to, but the path can seem daunting. It’s more than just saving money—it's about creating a financial strategy that allows you to live life on your terms.

Aug 30, 2024•12 min

Living Trust vs. Irrevocable Trust vs. Will: Pros and Cons

When it comes to estate planning, understanding the differences between a living (revocable) trust, an irrevocable trust and a will is crucial. Each option serves a unique purpose and comes with its own set of advantages and disadvantages. Dive into the specifics to help you decide which one might be the best fit for your needs.

Jul 22, 2024•11 min

HELOC or Home Equity Loan - What's the Difference?

When it comes to tapping into your home’s equity, you’ve got two popular options: a Home Equity Line of Credit (HELOC) and a Home Equity Loan. Both can provide you with the funds you need, but they work in different ways.

Jun 25, 2024•8 min

Common Retirement Planning Mistakes to Avoid

Retirement planning is like navigating a ship through uncharted waters. You need a solid plan to steer clear of hidden obstacles and reach your destination smoothly. We explore some common retirement planning mistakes and how to avoid them.

May 28, 2024•13 min

Tips to Help Your Savings Last Through Retirement

It’s really important you have enough money for retirement. The last thing anyone of us wants is for our money to run out during our retirement years. So, here are our top tips for ensuring your savings last through retirement.

Apr 29, 2024•13 min

Roth IRA Conversion: Is It Right for You?

If you have managed to save for retirement using a traditional IRA or 401(k), you may wish to consider doing a Roth IRA conversion. There are some good reasons for doing so, most of which include managing taxes. But should you go that route?

Mar 25, 2024•9 min

Charitable Giving through Estate Planning

Charities rely on donations and for many donors, charitable giving is important to them. Many include charitable donations as part of their estate plan. So, whether you want to donate to an organization or cause that you are passionate about or help your school or university, there are steps you can take to ensure your money actually gets to them.

Feb 28, 2024•5 min

The Impact of Aging on Financial Decision Making

As humans get older, our bodies aren’t what they used to be, and neither are our minds. When it comes to financial decision making, it’s up to you to recognize the need for a transition plan.

Feb 25, 2024•12 min

Active vs Passive: Which Investing Strategy is Best?

The debate of active vs passive investing has been raging since the 1970s. Proponents on both sides offer up what they believe to be objective evidence that supposedly supports their respective positions. If you are not that familiar with the active vs passive debate, let me briefly explain.

Jan 24, 2024•11 min

Factors to Consider Before You Invest in Real Estate

People often wonder if they should invest in real estate. Depending on who you ask, opinions will vary. Real estate investment can be a lucrative and rewarding venture, but it's essential to tread carefully and thoughtfully because not everyone is cut out to own real estate.

Dec 20, 2023•11 min

Fiduciary Financial Advisor: Client-Centric Financial Guidance

When it comes to financial planning and wealth management, you want an advisor that has expertise in financial advice and investment strategies. But, more valuable is a financial expert who is also bound by a legal and moral duty to prioritize your best interests.

Nov 26, 2023•12 min

Are You Saving Too Much for Your Retirement?

Is it even possible to save too much for retirement? This question is a popular one in the media right now. Experts are weighing in and the topic is being discussed in a lot of different places.

Sep 20, 2023•13 min

Mutual Funds or ETFs - Which is Better for Your Portfolio?

Investors are always looking for ways to diversify their portfolio. To do this, they often look to various types of funds that can provide this diversification without having to buy individual securities. Mutual funds or exchange traded funds (ETFs) are two of your options.

Aug 18, 2023•7 min

What is a Real Estate Investment Trust (REIT)?

A REIT, or Real Estate Investment Trust, is a company that owns or finances real estate properties. A REIT lets you be involved in the real estate market without having to actively manage a property.

Aug 14, 2023•7 min

Self-Directed IRA - Is It a Good Investment Option?

A self-directed IRA is a specialized retirement account for investing in alternative investments that are not allowed in a traditional IRA. Learn about the pros and cons of this type of investment option.

Aug 11, 2023•5 min

Should You Reduce Portfolio Risk Near Retirement?

If you follow financial industry information, you may have read that it’s best to reduce risk in your portfolio as you near retirement. That’s a very valid concern. And the advice is generally true. But there is another way to reduce risk and still achieve your long-term goals.

Aug 08, 2023•5 min

What to Do With an Inheritance

Many people think getting a large lump of money may last longer than it really does. Unfortunately, most inheriting a large sum of money won't know how to put it to good use. But with some planning and understanding of your financial needs, you can make sure your inheritance can help you reach your financial goals, maybe a bit quicker than you had expected.

Aug 04, 2023•4 min

Inflation Impact on Retirement Planning

Few things can cause as many problems for your retirement outlook as the impact of inflation. You know that when the average inflation rate increases, things get more expensive. But did you know that the types of goods and services used by the elderly are affected more by inflation than the goods and services used by younger people?

Jul 15, 2023•10 min

Top 5 Investing Myths and Misconceptions That Can Be Costly

There are many common investing myths that can be very costly, leading you to be too conservative, too risky or avoid investing completely. We’d like to steer you away from some of the most common investing misconceptions that can significantly injure your investment power and financial strength.

Jul 14, 2023•10 min

Fixed Annuities: Are They Right For Your Retirement Plan?

Fixed annuities will provide a guaranteed pay-out at a rate of return over a period of time. The rate of return usually mimics current interest rates. What could ever be bad about that? Let's find out whether a fixed annuity is right for your retirement portfolio.

Jul 12, 2023•9 min

5 Most Common Investment Mistakes to Avoid

Some people just aren’t financially savvy. Instead of calling an expert for investment advice, they try to figure it out on their own. This is never a good idea. See below for the most common investment mistakes to avoid. Learn from others’ failures and don’t fall into these traps!

Jul 10, 2023•11 min

Financial Tips for Gig Economy Workers

More and more workers are leaving their full-time jobs and becoming part of the gig economy. Whether you are starting a consulting business working from home, a handyman service for seniors or creating an internet business, you are part of the gig economy.

Jul 05, 2023•11 min

Financial Tips for Young Adults

Do you have a child who recently entered the workforce? As a parent, you should still offer advice and guide them on their financial journey. Check out the following ten financial tips to help your young adult find financial success.

Jul 03, 2023•11 min

Finances and Divorce: Surviving the Financial Nightmare

Going through a divorce is never fun. Not for you, and definitely not for your children (if you have them.) Add the finances to the divorce discussion, and results of a heated, adversarial divorce can be catastrophic – both financially and emotionally for you.

Jun 30, 2023•11 min

Portfolio Diversification: Shielding Assets from Market Volatility

When you hear the term ‘portfolio diversification’ with regard to your investments, you might believe you’ve got a clear concept of it: don’t put all your eggs in one basket. But there are many categories and degrees of risk that each of your ‘eggs’ can encompass

Jun 27, 2023•10 min
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