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No matter how long you’ve been investing, you’ve probably decided to put some portion of your money into mutual funds. They’ve always been a popular investment option, but how well do you understand the product? Let’s take some time to understand the common terminology, what makes up a mutual fund, and other basics.
Show Notes and Additional Resources:https://www.baschrock-fg.com/podcast/ep-19-understanding-the-basics-of-mutual-funds/
Today's Rundown:
0:37 – Today we’re talking mutual funds.
3:02 – Explain what a mutual fund is and what is consists of.
4:12 – How many stocks are in a mutual fund?
5:24 – What percentage of our clients are invested in mutual funds or have been at some point?
5:51 – Is the landscape changing at all?
7:07 – Explain the term expense ratio.
9:25 – What about the term ‘loaded’?
10:31 – Are there any other areas that trip people up when it comes to mutual funds?
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 19: Understanding the Basics of Mutual Funds
No matter how long you’ve been investing, you’ve probably decided to put some portion of your money into mutual funds. They’ve always been a popular investment option, but how well do you understand the product? Let’s take some time to understand the common terminology, what makes up a mutual fund, and other basics.
Ep 18: Retirement Checklist, Pensions, & More Mailbag Questions
Before we start up a new financial series, Ben’s going to open up the mailbag and answer a few questions from listeners that address retirement checklists, military pension benefits, and consolidating all of those retirement accounts you own.
Ep 17: Do You Have to Pay Taxes on Social Security Benefits?
Let’s wrap up our four-part series on Social Security misunderstandings by talking about the dreaded ‘T’ word. After years of paying the government, you might not think that you have to send more money their way when you start claiming your benefits. We’re going to clear up that subject today by explaining how taxes are calculated for an individual’s Social Security and how we work with our clients to lessen that burden.
Ep 16: Choosing the Best Social Security Claiming Strategy
Are you nearing retirement and thinking about how and when you’ll claim Social Security? It can be as simple as visiting your local Social Security Administration office and filling out the paperwork, but can they also help you decide which strategy to use? That’s the next topic in a four-part series on the top misunderstandings with Social Security.
Ep 15: What Age Should You Claim Social Security?
Our four-part series on Social Security misunderstandings continues with a discussion on the age you should target for claiming your benefits. Some people will tell you that claiming benefits as early as possible is your best option while others will insist on waiting as long as possible. So which is it? Let’s discuss the factors that go into the decision.
Ep 14: Is Social Security Going Broke?
As we begin a four-part series on Social Security misunderstandings, we begin with one that’s been on the minds of many retirees and pre-retirees. That’s the idea that Social Security is going broke and there’s a chance that benefits could disappear at some point. Should you be worried? We explain on this episode.
Ep 13: 401k Investing and IRA Volatility + Other Listener Questions
We’ve been hearing from a number of listeners who have sent in questions on a wide range of topics so we decided to dedicate an entire episode to answering as many as we can. From rental properties to fees and commissions to 401k company investing and more, we cover a lot of ground on this episode.
Ep 12: How Will the 2020 Election Impact Investing?
We’re only a year away from the 2020 presidential election and that’s making some investors anxious. How will the election affect finance? What about the candidates and their platforms? We get Ben’s thoughts on this topic plus two other recent headlines that all relate to retirement planning.
Ep 11: Awkward Conversations With Your Financial Advisor – Part 2
No one enjoys having to take part in those difficult conversations but it’s a necessary part of building a comprehensive retirement plan. Let’s finish up our two-part series with three additional topics that you might not enjoy discussing but your financial advisor needs to be asking these questions.
Ep 10: Awkward Conversations With Your Financial Advisor – Part 1
No one enjoys having to take part in those difficult conversations but it’s a necessary part of building a comprehensive retirement plan. Let’s explore two of those awkward conversations every good financial advisor should be bringing up with you. In part one of this series, we’ll look at how the death of a spouse and the possibility of nursing home care can affect your plan.
Ep 9: The Risks Savers Face: Not Spending Enough – Part 4
On the final installment on our series about the missteps that savers make along the way, we turn our attention to something most people love to do: spending. Savers aren’t the best at this because it’s a complete shift in mindset, but there will come a time when you need to spend the money you’ve been working so hard to accumulate.
Ep 8: The Risks Savers Face: The Tax Time Bomb – Part 3
Part 3 of our series on savers and the missteps they can make in planning, we turn to the dreaded topic of taxes. As you save and invest for your future, are you considering the tax time bomb that could be looming down the road? What about strategies that can help lessen your tax burden? Let’s discuss the options that you have to save yourself money in taxes.
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.
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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