Unlocking Your Financial Future

Ep 39: Potential Hidden Gems in Your Financial Portfolio

If you’re like most people, you probably have some financial accounts that you haven’t paid much attention to recently. The statements are just collecting dust in your file cabinet, but they might actually be hidden gems that could be put to much better use. We’re going to talk about ways to re-purpose those old accounts for better returns.
 
Read more and get additional financial resources: https://www.baschrock-fg.com/podcast/ep-39-potential-hidden-gems-in-your-financial-portfolio/ 
 
Today's show schedule: 
0:51 – Getting to Know Ben - Do you have any superstitions?
2:55 – A free webinar up on the website now. 
3:54 – Beginning the main discussion on hidden gems.
4:32 – Old 401k accounts
5:43 – Are companies charging fees to hold your investments in an old account?
7:04 – Old life insurance policies
8:54 – Savings account/Money Market account
10:10 – Pensions
12:03 – Ben’s team helps clients find these hidden gems.

Ep 38: Should You Be Wary of Dave Ramsey’s Advice?

Dave Ramsey has become one of the leading names and brands in finance and for good reason. The advice he gives benefits a lot of people across the country but is all that guidance applicable to you? Let’s look at his most popular teachings and determine how much we agree with.
 
Read more and get additional financial resources here: https://www.baschrock-fg.com/podcast/ep-38-should-you-be-wary-of-dave-ramseys-advice/ 
 
Today's show schedule: 
1:11 – We’re in the process of moving into a new office.
2:40 – They’ve posted a free webinar to the website.
3:22 – What we’re talking about today.
4:57 – The Debt Snowball
6:27 – His investment advice dealing with mutual funds.  
8:39 – Unrealistic expectations with returns and spending in retirement
10:49 – A good idea to stop contributing to retirement accounts until debt is paid off.
12:33 – This one-size-fits-all approach goes against the benefits of an advisor.
15:09 – The more awareness on finances the better.

Ep 37: An Update on Our Clients & Our Office

We spend most of the time on this show talking about financial planning topics, but we thought it would be beneficial for a lot of people if we talked about how everyone has been doing. From our own office to the clients we’ve been keeping in touch with, find out how others are dealing with quarantine and what they’ve been doing to keep busy.
 
Read more and get additional financial resources: https://www.baschrock-fg.com/podcast/ep-37-a-coronavirus-update-on-our-clients-our-office/ 
 
Today's show schedule: 
0:40 – Today we want to get an update from Ben on how his clients and people in our community have been handling COVID-19.
1:49 – How to access Ben’s new webinar, Keep Calm and Retire On.
3:40 – What’s the latest on Ohio opening back up?
4:24 – How have our clients been impacted so far?
5:57 – How is everyone doing emotionally right now?
7:04 – Are clients able to stay busy and active?
8:08 – Has anyone had employment issues? Are you having those conversations?
9:16 – Working from home vs going into an office.
10:22 – What is the business doing to assist clients during this pandemic?
11:38 – Are people optimistic overall or worried about long this will last?
13:01 - We’re taking precautions in the office.

Ep 36: Protecting Your Nest Egg + Mailbag Questions

Your nest egg means everything to your retirement and you want to protect it through the difficult times. On this mailbag edition of the show, we address concerns about navigating turbulent times while protecting what you have, how much to be saving, is $1 million enough in retirement, and more.
 
Read more and get additional resources here: https://www.baschrock-fg.com/podcast/ep-36-protecting-your-nest-egg-mailbag-questions/ 
 
Today's show schedule: 
1:55 – Mailbag Question #1: I’m a younger worker with a tiny nest egg with decades of working ahead of me. Given the recent tumult in the global economy, what can I do to protect the little egg that I have but also to continue growing?
3:14 – How much do you worry about someone’s risk tolerance when they are a younger worker?
4:08 – Mailbag Question #2: I’m tired of having five rental properties, so I’m going to sell at least three, and maybe all five. I have quite a bit of equity in these properties, so the question is how should I invest this money after I sell?
6:05 – Mailbag Question #3: I haven’t wanted to pay off my house because it’s one of the few tax deductions I have left. But I do have the money to just pay it off—should I?
7:05 - Mailbag Question #4: I retired two years ago with more than a million dollars in my IRA, which I thought at the time would be more than enough to give me the retirement lifestyle that I want. But it makes me nervous every time I withdraw money from that account because I don’t want to live too long and run out of money. And the recent downturn makes it worse. Am I worrying too much?
8:51 – Mailbag Question #5: I’ve heard that I should be saving 10% of my income toward retirement. Does that sound accurate? I’m in my 50s, so I need to be sure I’m doing this right.
10:17 – Mailbag Question #6: I make too much money to contribute to an IRA or a Roth. What’s the best way for me to save for retirement?
11:50 – Mailbag Question #7: My financial advisor is older than me. Should I move to someone else who won’t retire before I do?

Ep 35: Life Events That Can Change Your Financial Plans

Sometimes events happen in life that make it really important for you to carefully assess your financial situation. Today we’ll look at five major life changes and explain why it’s a good reason for a financial review.
 
Read more and get additional resources: https://www.baschrock-fg.com/podcast/ep-35-life-events-that-can-change-your-financial-plans/ 
 
Today's show schedule: 
3:07 – Moving to a job that you planned for.
5:06 – Getting fired or getting laid off.
6:52 – How much money should you have in your emergency fund?
7:56 – Receiving an inheritance.
10:04 - Facing a serious medical condition.
11:40 – The death of a spouse. 

Ep 34: Good Intentions Don’t Always Lead to Good Advice

Seeking out financial advice is something we all do at some point but is the source of that information always providing good advice? Let’s explore four common outlets we use for guidance and why, despite having the best intentions, the advice might ultimately be ill-suited for you.
 
Read more and get additional resources here: https://www.baschrock-fg.com/podcast/ep-34-good-intentions-dont-always-lead-to-good-advice/ 
 
Today's show schedule: 
2:45 – What’s the one thing you want to do again when everything opens back up.
4:17 – Getting advice from family. What could be the problem?
5:43 – What about when we reach out to friends for advice?
7:58 – When you talk to us, you’re looking at the full picture.
9:00 - How about your CPA?
10:48 – The relationship with CPAs
11:50 - The final place we get advice from is the media and financial experts. 

Ep 33: Coronavirus Market Update - CARES Act, RMDs, & Volatility

As we begin the third month of the health crisis, Ben gives us an update on what he’s seen from the market in recent weeks, the provisions of the CARES Act clients are paying attention to, and what he thinks about volatility moving forward.
 
Read more and get additional resources here: https://www.baschrock-fg.com/podcast/ep-33-coronavirus-market-update-cares-act-rmds-volatility/ 
 
Today's show schedule: 
3:40 – Everything we’re doing is still virtual right now.
4:16 – Will clients be more inclined to meet virtually after this is all done?
4:55 – Other businesses might end up changing operations as well.
6:06 – Update us on what you’ve seen over the last month from the market.
7:34 - Ben explains what the VIX measurement is.
9:06 – What adjustments are being made to plans right now?
10:30 - The CARES Act allowing people to pull money out of retirement accounts without penalty.
12:02 - Are many clients considering this option right now?
12:48 - RMDs being waved for 2020 and this is a big deal for our clients.
13:55 - Do you expect any other individual relief to come down?
15:04 - Ben’s team is actively communicating with clients as things change. 

Ep 32: Mailbag Edition - Student Loans, Gold, Investing & More

A busy few months has generated a lot of curiosity from listeners so we’ll answer a bunch of financial questions on this show. From investing during the coronavirus to student loan dilemmas to long-term care coverage, we’ll cover a wide range of topics.
 
Read more and get additional resources here: https://www.baschrock-fg.com/podcast/ep-32-mailbag-edition-student-loans-gold-investing-more/ 
 
Today's show rundown: 
1:50 – Mailbag Question #1: We had kids later in life than most people so they’ll still be in college when we’re ready to retire. Should we make them take out student loans rather than trying to take out money from our accounts when we’re retired?
3:31 – Mailbag Question #2: Is it wise for me to own gold in my portfolio and what percentage would be appropriate?
4:23 – Mailbag Question #3: The coronavirus scare has me convinced the market will keep crashing again and again. I’m ready to move everything to cash. Should I wait?
6:22 – Mailbag Question #4: We’re both 63 and haven’t saved much for retirement. We’re about to sell our farm and that will net around $1 million. What should we do with that money?   
7:46– Mailbag Question #5: How much long-term care coverage is recommended? It seems there are hundreds of different options.
9:30 – Mailbag Question #6: I’ve had the same advisor for 20 years but it seems like he’s phasing out and passing things on to a younger advisor. Should I stick with them or find someone new?