B.A. Schrock Financial Group

Exploring Retirement Income Sources: Beyond Social Security and Pensions

Knowing the retirement income sources available to you can help you plan for a sustainable financial future

When you consider your future retirement, are you simultaneously excited and terrified? If so, know that it’s normal! Retirement is a chapter of life that presents exciting opportunities, of course, but many retirees worry about running out of money in their golden years, too. Careful financial planning is essential and, while Social Security and pensions […]

Retirement Income Planning: Generating and Sustaining Income Throughout Your Retirement

Retirement income planning allows you to mitigate the dangers of outliving your nest egg

Retirement is a milestone that brings new opportunities and challenges, particularly when it comes to managing your finances. As you transition from accumulating wealth to relying on your savings, retirement income planning becomes a crucial component of your financial strategy. In this article, we’ll explore the importance of retirement income planning and share strategies to […]

How Long Can I Keep My Money in My Retirement Account?

How Long Can I Keep My Money in My Retirement Account? BA Schrock

In most cases, you can’t actually keep your money in your retirement accounts forever. Even if you don’t need the money from your retirement accounts, many of them will require you to begin withdrawing from them when you are 73 years old.[1] This is called a required minimum distribution (often shortened to RMD). More specifically, […]

What Happens to Inherited Retirement Accounts?

What Happens to Inherited Retirement Accounts? BA Schrock

You may know plenty about the differences between traditional IRAs and Roth IRAs, as well as the risks to your IRAs in this market, but what happens to an IRA (or other retirement account) that still has money in it when its owner passes away? You may think that the beneficiary just gets all the […]

What if 1 Million Dollars Isn’t Enough to Retire?

What if 1 Million Dollars Isn't Enough to Retire? B. A. Schrock

If you are headed toward retirement soon, or you have just retired, you may find yourself wondering, “Is my nest egg enough?” It’s a common question and one that causes a lot of people a lot of reasonable anxiety. Because retirement finances are much more about prediction than they are about facts and assurances, it […]

Navigating Retirement as a High-Net-Worth Individual

Navigating Retirement as a High-Net-Worth Individual BA Schrock

For high-net-worth individuals and families, retirement is a significant shift. A high-net-worth individual, also known as an HNWI, is typically someone with at least $1 million in cash or assets that can be easily converted into cash, including stocks, bonds, mutual fund shares, and other investments.[1] As an HNWI, you may not be too worried […]

Will Your Retirement Savings Be Enough?

Will Your Retirement Savings Be Enough? BA Schrock

Are you unsure of how much money you will need in retirement? This is a very common concern for Americans as they approach retirement age. This blog will give you some tips on how to begin estimating your needs in the future, as well as some tips on how to increase the longevity of your […]

The Value of Opening a Roth IRA at the End of the Year

The Value of Opening a Roth IRA at the End of the Year BA Schrock Financial Group

These days, retirement planning will likely involve Individual Retirement Accounts in one way or another. Whether you’re looking to roll over a 401(k), optimize your withdrawal timing, or take advantage of catch-up contributions, your IRA strategy may be one of the main components of your income strategy. So, let’s talk about the Roth IRA and […]

Making the Switch to Paying Yourself

Making the Switch to Paying Yourself BA Schrock Financial Group

You’ve probably had a daily routine for most of your life – from tying your tie and greeting your coworkers to loosening that tie when you get home. When thinking about retirement, not only does your daily routine change but your financial routine does too. In your working years, you made sure to have a […]

Does the 4% Rule Really Work?

Does the 4% Rule Really Work? BA Schrock

During your saving years, your main goal is to accumulate wealth so that you have the resources to achieve a comfortable retirement. But that is just half the battle. How you use your savings to cover your living costs is the real key to living the retirement you dream of. You may have done some […]

Lazy Money Guide BA Schrock

Lazy Money Guide

Savings accounts, checking accounts, money markets, and CDs might seem like secure choices, but they often lead to disappointment. To combat “lazy money” and maximize your financial potential, consider incorporating Fixed Indexed Annuities (FIAs) into your portfolio. While the urge to safeguard your funds is natural, traditional options might yield meager returns in today’s low-interest-rate environment. FIAs offer a unique blend of principal protection and growth potential, potentially outperforming conventional choices while keeping your capital secure. Ready to enhance your financial strategy? 

What to Consider in Your Charitable Giving Plan

What to Consider in Your Charitable Giving Plan

Congratulations! You’ve decided to give to a charitable organization. Charitable giving is a wonderful way to help further causes you are passionate about and feel good while doing it.

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