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We continue our discussion on savers and some of the missteps they can make along the way. Saving is key to retirement success but are you getting the best return on your money? Today we look at risk and how it can impact your portfolio negatively if you don’t put a plan in place to deal with downturns.
On this episode:
2:03 – Today’s main topic is part 2 of our Risks Savers Face series.
2:18 – Why is risk so important to understand when setting up your portfolio.
3:23 – What are some examples of riskier investment products?
4:55 – We have software that can analyze your risk tolerance.
6:27 – What kind of reactions do you get from clients when they learn their risk number?
7:38 – The highest risk number we’ve seen is 98.
8:27 – How we help clients understand risk and prepare their portfolio to handle it.
10:56 – We like boring in our office.
12:04 – Mailbag question: My wife bought an annuity several years ago. She has the option at 60 to take money now but for a third less than if she waited until 65. What do you usually see clients do in this situation?
Show notes:https://www.baschrock-fg.com/podcast/ep-7-the-risks-savers-face-being-too-aggressive-part-2/
Weekly financial and retirement guidance with Ben Schrock of BA Schrock Financial Group in Wadsworth, Ohio. This podcast will help you learn important financial concepts that allow you to retire with confidence.
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Episode Show Notes
Ep #7: The Risks Savers Face: Being Too Aggressive – Part 2
We continue our discussion on savers and some of the missteps they can make along the way. Saving is key to retirement success but are you getting the best return on your money for your needs? Today we look at risk and how it can impact your portfolio negatively if you don't put a pan in place to deal with downtu
Ep #6: The Risks That Savers Face: Too Much Cash – Part 1
Even the best savers make mistakes when planning for retirement and we’re launching a new series that will go in-depth on that topic. Part 1 of The Risks that Savers Face will discuss cash and why becoming so enamored with it can end up costing you money over the long run.
Ep #5: Shifting from Stocks to Bonds Removes the Volatility – Busting Financial Myths, Part 5
Today we wrap up the five-part series on Busting the Biggest Financial Myths with a conversation on stocks and bonds. There’s a common belief that shifting to bonds removes all the volatility out of your portfolio, but that not a certainty. To help us explain this idea, we bring on a guest that specializes in building and maintaining client portfolios.
Ep #4: Financial Planning Can Be Done by Anyone with Technology – Busting Financial Myths, Part 4
On part four of our financial myths series, we take a look at the idea that financial planning today is much easier to do because of technology and it’s something you can easily take on by yourself. While it’s great to have access to everything the internet has to offer, it’s far from a perfect solution to planning your future.
Ep #3: You’ll Be in a Lower Tax Bracket When You Retire – Busting Financial Myths, Part 3
Now we move to part three of a five-part series about financial myths and this episode focuses on taxes. Once we finish working, it’s easy to assume that our taxes will drop because we’ll move into a lower tax bracket. Well, that’s not the case. Find out why your taxes might increase and what strategies you can use to offset that.
Ep #2: Will You Need Less Income When You Retire – Busting Financial Myths, Part 2
Today it’s part two of a five-part series about financial myths and this episode focuses on an important one. The common belief in retirement is that you’ll need less income than you did while you were working. While we all hope this is true, basing your plan off this idea can put you in a difficult situation down the road.
Ep #1: Do You Need Life Insurance After Retiring – Busting Financial Myths, Part 1
We kick off our five-part series about financial myths with a product that Ben has worked with in his career: life insurance. Many people feel life insurance isn’t needed after retirement, but that’s not the case. We’ll explain life insurance options, why it can be needed after retiring, and how it can become an income source.
Ep #0: Get To Know Ben Schrock & The New Podcast
Before we launch the first episode of Unlocking Your Financial Future, we wanted to introduce you to the show and the people. In this ‘Getting to Know You’ episode, we’ll learn more about Ben Schrock, his business, and the future of the podcast.
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