Unlocking Your Financial Future

Ep 51: Why Living Long Can Be Risky Financially

We all want to live a long life, but that can be risky financially. On this week’s episode of Unlocking Your Financial Future, Ben explains the risks and why it’s an awkward conversation to have with clients.
 
Read more and get additional financial resources here: https://www.baschrock-fg.com/podcast/ep-51-why-living-long-can-be-risky-financially/ 
 
What we discuss on this episode: 
1:51 – Off-topic conversation: 30-year mortgage rates are low
4:24 – Living long a bad thing?
5:12 – Oldest client
5:55 – Longest living person in Ben’s family
7:56 – Why is it risky living long?
9:27 – How average people address these challenges
10:24 – Story about Ben’s client
13:00 – Contact Ben

Ep 50: 5 Ways to Ruin Retirement

You’ve heard advice about how to improve your finances and prepare for retirement, but what about mistakes? On this week’s episode of Unlocking Your Financial Future, Ben shares five ways you could be ruining your retirement.
 
Read more and get additional financial resources here: https://www.baschrock-fg.com/podcast/ep-50-5-ways-to-ruin-retirement/ 
 
What we discuss on this episode: 
2:37 - Treating retirement as a destination
5:15 - Believing retirement will solve all your problems
6:38 - Assuming your monthly spending habits will be same
8:58 - Not staying active in retirement
10:23 - Investing like you’re 35 years old

Ep 49: Ben & Kaitlin Schrock on Marriage, Business and Family Traditions

Today we celebrate the one-year anniversary of the show but bringing on the backbone of the operation, Kaitlin Schrock. What’s it like to work with your spouse? That’s the number one question Ben and Kaitlin get. On this week’s episode of Unlocking Your Financial Future, get to know more about Kaitlin and how she keeps the family business organized and running smoothly.
 
Read more and get additional financial resources here: https://www.baschrock-fg.com/podcast/ep-49-ben-kaitlin-schrock-on-marriage-business-and-family-traditions/ 
 
What we discuss on this episode: 
0:35 – One year since podcast launched
2:21 – Meet Kaitlin Schrock
4:25 – Our strengths
6:24 – Advice for getting into business with a spouse
8:20 – Who handles the family finances
8:52 – What’s difficult about working with Ben
10:32 – What Kaitlin means to the team
11:43 – Will their kids get involved in family business?
12:20 – Unique family traditions

Ep 48: How Complex Should Your Financial Plan Be?

If you visit a financial advisor, how complex should your plan be? Is a one-page plan too simple? Is a 50- to 100-page plan too much? We’ll explain how much detail you should expect in your financial plan.
 
Read more and get additional financial resources here: https://www.baschrock-fg.com/podcast/ep-48-how-complex-should-your-financial-plan-be/ 
 
On today's show: 
2:48 – What’s the typical range of a financial plan?
4:39 – What’s the ideal length of a plan?
6:10 – Does it depend on what the client wants?
8:20 – Examples of complicated plans
9:52 – Examples of simple plans
10:38 – Are long plans a red flag?
13:14 – Mailbag: Retiring at 55

Ep 47: Market Crash Survival Guide

When the market crashes, it’s normal to feel panicked. But we’re here to help you build confidence and get through these tough times with a five-step market crash survival guide.
 
Read more and get additional financial resources here: https://www.baschrock-fg.com/?p=2068&preview=true 
 
On today's show: 
1:23 – Poll: Americans want to prioritize financial planning
4:37 – Know how much risk you are exposed to
6:18 – Protect your gains
7:34 – Have appropriate diversification
9:47 – Don’t try to time the market
12:31 – Don't panic

Ep 46: Handling Finances After the Death of a Spouse

It’s a somber topic that no one likes to think about, but it’s important to have a financial plan in place if your spouse dies. Our team can help you with those sensitive, difficult conversations so money is the least of your worries if your loved one passes away.
 
Read more and get additional financial resources here: https://www.baschrock-fg.com/podcast/ep-46-handling-finances-after-the-death-of-a-spouse/ 
 
On today's show:
2:22 – A somber topic
3:08 – A difficult but necessary conversation
4:25 – The number one financial question after losing a spouse
6:17 – Immediate financial challenges after losing a spouse
7:00 – How to handle pensions
7:40 – What to know about social security
8:39 – How will it affect your taxes?
10:06 – Why it’s important to meet with both spouses
11:09 – A widow in a tough financial position
12:26 – A smooth transition

Ep 45: Meet Our New Advisor, Dan Oaklief

Meet our team’s newest financial advisor, Dan Oaklief. Find out how he has reenergized and motivated our team and how he’ll be helping our clients. 
 
Read more and get additional financial resources here: https://www.baschrock-fg.com/podcast/ep-45-meet-our-new-advisor-dan-oaklief/ 
 
On today's show:
3:40 – Meet Dan Oaklief
4:30 – Guiding clients through a very rocky financial year
6:04 – What will Dan’s role be?
6:36 – What are clients’ biggest challenges?
7:19 – What is Ben’s vision for Dan?
7:56 – Dan cares about people
8:43 – Dan’s accreditations
10:09 – A getting-to-know-you question for Dan and Ben

Ep 44: Should You Tell Children About Inheritance Plans + Other Listener Questions

If your estate plans include leaving behind a money to your children, should you tell them about it ahead of time or make it a surprise? There are arguments for both sides and we’ll share some of our guidance on that topic. Plus, we’ll cover annuities, retirement income, trusts, and investment strategy on this mailbag edition.
 
Read more and get additional financial resources here: https://www.baschrock-fg.com/podcast/ep-44-should-you-tell-children-about-inheritance-plans-other-listener-questions/ 
 
Today's show schedule: 
0:48 – Mailbag Question #1: I have a variable annuity and just found out the fees are very high. I’d like to move the money but I’d have to pay a penalty to take it out. Is it worth it to avoid the fees?
2:26 – Mailbag Question #2: We should be leaving a decent amount of money to our kids. Should we tell them about it now or surprise them with it later?
4:51 – Mailbag Question #3: We have big travel plans when we retire, including all seven continents. Do we need to plan having even more income in retirement than we have now.
7:06 – Mailbag Question #4: Is it wise to have a trust as part of my financial and estate plan?
8:50 – Mailbag Question #5: When should I start focusing less on growing my money and more on protecting it instead? I plan to retire in two years.