The Setup:

A busy few months has generated a lot of curiosity from listeners so we’ll answer a bunch of financial questions on this show. From investing during the coronavirus to student loan dilemmas to long-term care coverage, we’ll cover a wide range of topics.

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

The Combination and Key Points: 

Every month we try to dedicate a full episode to the things on your mind and that’s what we’ll do today.

On this episode of Unlocking Your Financial Future, we have six mailbag questions sent in from listeners that we’ll do our best to answer. If you’re ever curious about anything, shoot us an email or a message on Facebook.

Student Loans

More and more people are getting married later in life and that is presenting them with a difficult decision when their children reach college. Should use money you have saved as you’re heading into retirement or should you make them take student loans?

1:50 – Mailbag Question #1: We had kids later in life than most people so they’ll still be in college when we’re ready to retire. Should we make them take out student loans rather than trying to take out money from our accounts when we’re retired?


Whenever the market takes a dive, people start looking to move their money into ‘safe’ investments. One of those has always been gold and that’s the case today. Is this something you should consider if you want to move your money out of the stock market? We’ll share our thoughts on that precious metal.

3:31 – Mailbag Question #2: Is it wise for me to own gold in my portfolio and what percentage would be appropriate?

Market Concern

If you’re worried about the future of the market, you’re not alone. No one can be completely confident on when things will turn around and whether we’ll continue lower. One listener is concerned that the coronavirus will continue crashing the market and wants to move it all to cash.

4:23 – Mailbag Question #3: The coronavirus scare has me convinced the market will keep crashing again and again. I’m ready to move everything to cash. Should I wait?

Investing Later in Life

In an ideal world, we start investing in our 20s, follow a financial plan, and enjoy a comfortable retirement. But that’s not how it goes for most people. In some cases, we have clients that reach their 60s without much in savings, and that’s the case with one listener who is about to sell property too net a nice amount of money. What’s the best investment options for them?

6:22 – Mailbag Question #4: We’re both 63 and haven’t saved much for retirement. We’re about to sell our farm and that will net around $1 million. What should we do with that money?   

Long-Term Care

If you’re thinking about long-term care coverage, you’re already ahead of the game. But once do, it can be overwhelming trying to sort through the options. Ben gives us some information to help you make that decision.

6:22 – Mailbag Question #4: We’re both 63 and haven’t saved much for retirement. We’re about to sell our farm and that will net around $1 million. What should we do with that money?   

Time for New Advisor?

If you work with an advisor long enough, there’s a chance they will transition to retirement before you. Many advisors pass the business off to someone else in the office, but how do you know if that relationship will be a strong as the previous one? It’s okay to see what other options are out there.

9:30 – Mailbag Question #6: I’ve had the same advisor for 20 years but it seems like he’s phasing out and passing things on to a younger advisor. Should I stick with them or find someone new?

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


Related Content:

Mailbag Time! Life Insurance, Company Stock, & Retiring Early

Coronavirus Fallout: What Financial Steps Should You Take Next?

Is Retiring at 65 Still a Realistic Goal?