Welcome To Our Podcast
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?
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 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.
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.
Ep 54: Five Outdated Financial Strategies
Just like technologies change and become outdated, so do some retirement planning strategies.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.
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.
Ep 52: Mailbag: Second Marriages, Life Insurance and the Rule of 100
How do I handle finances in a second marriage? Should I cash out my old life insurance policies? Is the Rule of 100 a good thing? Let’s dive into the mailbag and answer these and other questions.
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.
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.
Ep 49: Ben & Kaitlin Schrock on Marriage, Business and Family Traditions
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.
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.
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.
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.
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.
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.
Ep 43: Financial Bots are Here
Have you ever plugged your financial info to a website and gotten a retirement projection? As technology improves, how much can you trust these bots? Ben tried it for himself and got surprising results. We’ll share those plus talk about how useful these bots can be for planning.
Ep 42: 4 Milestones for Retirement
Being mentally ready to retire and financially ready are two completely different things. You might be prepared to call it a career but does your financial situation match your readiness? Let’s look at four milestones that might indicate you’re in a position to retire. Have you hit all these yet?
Ep 41: Do You Lack Confidence to Retire?
The turbulence of 2020 might have you questioning just how close you are to retirement. That’s a common feeling for many people but today we’ll share a story about a client that came in without much confidence in retiring and left with the plan to quit working in three months.
Ep 40: Retirement Projections, Diversification & Other Mailbag Questions
It’s time to answer your questions once again on the podcast. Today we’ll cover, retire-ment projections, proper diversification, how much you’ll need for retirement, a surprise inheritance, and working while earning Social Security.
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.
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.
Ep 37: A Coronavirus 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.
The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by BA Schrock Wealth Management. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program.
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