Unlocking Your Financial Future

Ep 60: Mailbag - Answering Your Questions About Inheritance, Investing and Income

On this episode of Unlocking Your Financial Future, we answer your questions about inheritance, investing, income and much more.
 
Read more and get additional financial resources here: https://www.baschrock-fg.com/podcast/ep-60-mailbag-answering-your-questions-about-inheritance-investing-and-income/ 
 
What we discuss on this show: 
2:39 – I’m worried my son will blow this inheritance
4:27 – I heard I can get half of my ex-husband’s Social Security benefit.
5:56 – Is my 401K income estimate accurate?
7:52 – Should I buy a car or invest this money?
9:34 – Is $250,000 enough for long-term care insurance?
10:54 – I’m worried about the market. Should I move it all to cash?

Ep 59: Frequently Asked Questions About 401Ks

Most people have a 401K or other retirement plan, but it’s not as simple as contributing money and collecting it when you retire. There are a lot of decisions you can make about investments, loans, rollovers and more. On this episode of Unlocking Your Financial Future, we answer some frequently asked questions about 401Ks.
 
Read more and get additional financial resources here: https://www.baschrock-fg.com/podcast/ep-59-frequently-asked-questions-about-401ks/
 
What we discuss on this show: 
1:51 - Should I accept 401K advice from my company?
3:34 - Should I take out a 401K loan?
5:47 - Are 401K rollovers a good idea?
8:00 - Should I use target date funds?
10:40 - Should I take my company match or contribute more?
12:06 - Should I do a Roth 401K?

Ep 58: Baby Boomer Common Retirement Mistakes and Concerns

We’re talking specifically to Baby Boomers on this episode. What are the most common challenges, fears and goals of this generation? What are some of the mistakes Boomers often make and how can they be avoided?
 
Read more and get additional financial resources here: https://www.baschrock-fg.com/podcast/ep-58-baby-boomer-common-retirement-mistakes-and-concerns/ 
 
What we discuss on this show: 
3:04 – Challenges of Baby Boomers
5:40 – How often do Baby Boomers have to worry about children living at home?
7:35 – Baby Boomers’ fears and concerns
9:00 – What mistakes do Baby Boomers make?
10:46 – Why don't Baby Boomers take buyouts?

Ep 57: Five Financial Commandments to Follow

On this episode, we share five commandments that should be written on stone tablets in your retirement plan.
 
Read more and get additional financial planning resources here: https://www.baschrock-fg.com/podcast/ep-57-five-financial-commandments-to-follow/ 
 
What we discuss on this show:
2:36 – Thou shall not compare your investments to the stock market without the proper context
5:13 – Thou shalt not give up before giving your strategy enough time to play out.
7:15 – Thou shalt not chase big returns too late in life.
9:08 – Thou shalt not ignore costs and fees.
10:37 – Thou shalt not overlook the importance of rebalancing and diversifying.

Ep 56: Is $8 Million the New Target for Retirement?

Is $8 million the new target for retirement? We found an article that points to that idea so we’ll share our thoughts about how this impacts planning on today’s podcast. 
 
Read more and get additional financial resources here: https://www.baschrock-fg.com/podcast/ep-56-is-8-million-the-new-target-for-retirement/ 
 
What we discuss on this show: 
1:51 – Financial Samurai blog
3:22 – Where did the 4% rule come from?
4:47 – Will you need $8 million?
6:32 – Balancing your portfolio
9:05 – Other ways to supplement income
11:11 – Let’s look at some positives
13:16 – Mailbag: Will I spend more money in the first few years of retirement?
15:02 - Can I overcome a divorce financially in my late 50s?

Ep 55: Hindsight 20/20 - Five Common Financial Mistakes

Financial decisions are a lot easier with the benefit of hindsight. Here are some common mistakes people have made this year and how hindsight could have helped them in 2020.
 
Read more and get additional financial resources here: https://www.baschrock-fg.com/podcast/ep-55-hindsight-20-20-five-common-financial-mistakes/ 
 
What we discuss on this show:
2:09 – Getting out of the market
5:20 – Not knowing your risk factor
8:39 – Not knowing your social security options
11:04 – Not putting money in a Roth IRA
12:28 – Retiring too early and going back to work

Ep 54: Five Outdated Financial Strategies

Just like technologies change and become outdated, so do some retirement planning strategies. Let’s look at five financial strategies that have become obsolete.
 
Read more and get additional financial resources here: https://www.baschrock-fg.com/podcast/ep-54-five-outdated-financial-strategies/ 
 
What we discuss on the show: 
2:55 – 4% rule
4:27 – 10/5/3 rule
6:22 – Move money from stocks to bonds as you get older
7:44 - $1 million retirement target
9:42 – Needing less money in retirement
11:52 – Mailbag: Should we invest differently based on the election?
14:42 – Mailbag: Should I buy gold coins, gold bars or no gold at all?

Ep 53: Common Housing and Retirement Questions

Clients often ask us about their house (or houses) and how they fit into retirement plans. From downsizing to rental properties to interest rates, let’s explore some of the top retirement questions as it relates to all things housing.
 
Read more and get additional financial resources here: https://www.baschrock-fg.com/podcast/ep-53-common-housing-and-retirement-questions/ 
 
What we discuss on this show: 
2:15 - Pay off the house early or slowly?5:01 - Downsize to a smaller home at retirement?7:27 - Is rental property a good idea for creating income?10:50 – Complications with real estate legacy plans?12:48 – Mailbag: Redo kitchen or save more for retirement?