Ep 40: Retirement Projections, Diversification & Other Mailbag Questions

It’s time to answer your questions once again on the podcast. Today we’ll cover, retirement projections, proper diversification, how much you’ll need for retirement, a surprise inheritance, and working while earning Social Security.

 

Read more and get additional financial resources here: https://www.baschrock-fg.com/podcast/ep-40-retirement-projections-diversification-other-mailbag-questions/ 

 

Today's show schedule: 

0:59 – Mailbag Question #1: An online calculator says I’m going to need over $700,000 for retirement. How accurate do you think this is?

2:27 – Mailbag Question #2: I have almost $150,000 sitting in my savings account. I’m tired of getting virtually no interest but also too scared to invest right now. Should I just leave it in the bank?

3:27 – How Ben feels about the state of the market right now.

4:13 – Mailbag Question #3: I counted out the mutual funds in my IRA and it appears that I have 33 different funds. Is this adequate diversification?

5:40 – Mailbag Question #4: I’m 55 and I have about $300K saved for retirement but I feel like I’m really behind where I should be compared to most people I know. Am I in trouble?

7:12 – Mailbag Question #5: Can you clarify whether I start my Social Security benefit and still earn an income or not?

8:38 – Mailbag Question #6: I just inherited a very large sum of money from my dad that I wasn’t expecting. What’s the most responsible way to handle it?