The Setup:

It’s a mailbag edition of the podcast and Ben answers five questions from listeners covering a wide array of financial and retirement topics, including company stock, real estate investing, Social Security benefits, mutual funds, marijuana stocks and more.

[spp-player url =https://unlockingyourfinancialfuture.podbean.com/mf/play/i6ucbv/028_-_BEN_SCHROCK_-_MAILBAG.mp3]

Click the timestamps below to skip to a specific topic in the episode.

The Combination and Key Points: 

As more feedback and questions come in from listeners, we’ve decided to dedicate a full show to opening up the mailbag and tackling as many topics as we can.

That’s the plan for this episode. We love to pull out questions that hit on different areas of financial and retirement planning so there’s a better chance that we’ll cover something that pertains to your situation. We have five questions on this edition of Unlocking Your Financial Future.

You can see each of the questions below in the timestamps but the reason we like the direction of this show is because the topics span a wide range of ages and planning stages. We’ll lead off the show talking about 401k contributions. Some people are allowed to put more into their account but is that the best idea? Along those same lines, we talk about mutual funds in your 401k. How much do you know about what you’re invested in and are you sure it’s as diversified as you think. Our team can run an evaluation on your portfolio and tell you exactly, but what should you do if you aren’t sure?

Then we’ll get into investing in real estate. That’s something many investors in Ohio will talk to us about. Should they move money from retirement accounts to real estate? The market has been extremely strong so it makes sense why you’d want to consider it.

Then there’s a great question about investing in companies and products that don’t align with your beliefs. Take marijuana stocks as an example. How can you be sure you aren’t investing in those through mutual funds and ETFs? We personally won’t invest in marijuana stocks for our clients so this topic is important for us.

A couple other things we’ll cover:

  • Is it a good idea to work with multiple advisors?
  • Should you delay your Social Security benefits as long as possible?

Thanks for listening to another episode of Unlocking Your Financial Future. We’ll talk to you again next week!

0:39 – We’re opening up the mailbag to take a number of questions today.

2:20 Mailbag question #1: It appears that I’m now able to contribute more to my 401k this year than I was allowed to last year. Should I go ahead and put in the extra amount?

3:56Mailbag question #2: I have several thousand dollars of company stock I’d like to cash in to make a down payment on some land where I’ll eventually build a vacation home. Is there any reason I shouldn’t do that?

5:08 – Do you have a lot of clients looking move money from their retirement accounts into real estate?

5:52 Mailbag question #3: I’ve worked with a couple of different financial advisors over the years and I like them both. Do I need to pick just one or the other, or is it ok to work with a couple of different people?

7:08 – Would Ben recommend his clients stick with one advisor?

8:12Mailbag question #4: I just looked at my Social Security estimate that shows how much I’ll get if I started at ages 62, 66, and 70. I’m blown away by how much more I’d get at 70, so I’m inclined to just wait until then to start it, even though I’ll probably retire around 66 or 67. I’m assuming that putting it off like this is the best course of action for someone like me?

10:00 – We offer a Social Security guide on the website that will help you with a number of things.

11:03 Mailbag question #5: I rolled over a 401k to an advisor a couple of years ago and he put all of the money into something called American Funds. Is that ok, or should I be invested in other things too?

12:41 Mailbag question #6: How do you avoid investing in things that you view as immoral? Take marijuana as an example. I’m in several mutual funds, but I don’t know what stocks they’re using. Could I be profiting off of the marijuana industry by accident? I don’t want to do that. How do you help navigate people through the investment world while respecting certain morals and religious beliefs?

14:18 – Are many people interested in marijuana stocks?


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