Episode 123: Listener Questions – Diversification, Retirement Savings & More

Apple PodcastsSpotifyAmazon MusicTuneIniHeartRadioPodbean

Today’s Smart Money Question:

In today’s episode of Smart Money Questions, Matt answers a number of questions from listeners. From saving enough for retirement to claiming Social Security, we will talk through several scenarios listeners are currently facing.

Apple PodcastsSpotifyGoogle PodcastsStitcheriHeartRadioTuneInSubscribe via RSSShareLeave a ReviewDownloadListen in a New WindowSoundCloudSubscribe on AndroidPlayer Embed

(Click the featured times below to jump forward in the episode)

Here Are Just A Handful Of Things You’ll Learn:

This coming holiday weekend often feels like the start of summer! But it might be a bit different with some of the current restrictions depending on your plans. Whether you hit the beach or not, we’ve got plenty of listener asking about their financial plans.

If you have dozens of different mutual funds, is that enough diversification? Sometimes those funds are actually similar and therefore not diversified. You want to diversify your portfolio in different types of funds, not just in several different funds. Matt shares about a few different funds and what this might look like when trying to diversify.

Have you saved enough for retirement? While a common question, a better question to ask first might be when do you want to retire? What will your other retirement income sources be? How will you be taxed on your retirement accounts?

If you start taking Social Security, can you still earn an income? Depending on your age, there are certain restrictions and taxes you’ll want to be aware of. This may play into your decision on when you begin claiming your Social Security.

Finally, if you unexpectedly inherit a large sum of money, what should you do? How can you make a responsible financial decision about it? Matt explains some of the rules that came out with the SECURE Act. Ask yourself, what purpose should the money be for?

0:38 – We’re about to kick off summer with the holiday weekend.

4:48 – Mailbag: I have 33 different funds, is that adequate diversification?

8:20 – What is your underlying asset class?

10:29 – Mailbag: Based on my age, am I saving enough?

15:18 – Mailbag: Can I start my Social Security benefits and still earn an income?

18:37 – Mailbag: I just inherited a large unexpected sum of money, what should I do?

Additional Podcast Episodes:

 

Do You Have A Smart Money Question?

Ask Matt your smart money question. Click here.

More From Matt:

The host: Matt Hausman – Contact – Resources – Call: 610-719-3003

 

Subscribe To The “Smart Money Questions” Podcast:

Share This Post

More To Explore

Load More

GOT A SMART MONEY QUESTION?

Do you have a question that we haven’t covered yet? Just leave me a message and your question just might be on my next podcast!

Why Ask A Question?

Although everyone’s situation is different, your question might help hundreds of other people who are in the same boat. Don’t be afraid of the answers, be afraid of not asking the question!

What Do You Get?

The clearest answer I can give on how to address your retirement question and links to resources that may help you.

Don't Have A Microphone?

Just fill out the form below to ask your question!

SCHEDULE A TIME TO MEET

It’s fast and easy to make an appointment with Matt. You can start with a 30-minute conference call or meet in-person at the office in Malvern, PA.

Book Appointment

Contact

Privacy Policy

All written content on this site is for information purposes only. Opinions expressed herein are solely those of Smart Money Questions and our editorial staff. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual advisor prior to implementation. ©2018 All written content on this site is for information purposes only. Opinions expressed herein are solely those of Old Security Group and our editorial staff. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual advisor prior to implementation. Fee based financial planning and investment advisory services are offered by Old Security Group a Registered Investment Advisor in the State of Pennsylvania. Insurance products and services are offered through Old Security Trust Corp. Old Security Group and Old Security Trust Corp. are affiliated companies. The presence of this web site shall in no way be construed or interpreted as a solicitation to sell or offer to sell investment advisory services to any residents of any State other than the States of Pennsylvania, Delaware and Maryland or where otherwise legally permitted.