Today’s Smart Money Question:
(Click the featured times below to jump forward in the episode)
Here Are Just A Handful Of Things You’ll Learn:
After a long year in 2020, many of us want to make sure 2021 starts off right. On this episode of the podcast, Matt answers several questions from listeners and clients when it comes to making wise investment and financial decisions in the new year.
One listener is worried about what 2021 will bring after all that has happened in 2020. How can he avoid the craziness of the stock market but still be prepared for retirement? Matt says the market will always be crazy and volatile. It’s important to think about making sure your money isn’t all subject to market condition. How far are you from retirement? If you aren’t going to invest in the market, where will you invest it?
Think back the past 50 years and realize we’ve continued to have a market protectory that is up despite all the volatility. Never be fearful. It’s helpful to be cautiously optimistic when you go into the market. And if you aren’t investing in the market, understand the risks associated with other types of alternative investments.
Social Security is a huge asset that you have, but the timing of it is really important. Are you still working? Are you aware of the taxes associated with it? Do you know how it fits with your financial plan?
Are you considering an early retirement but still have a mortgage? Some clients of Matt’s were wondering if they should still refinance even if they plan to retire in the next few years. How can they think about this strategically? Is there a better way to do it than a traditional refinance?
Tempted to flip houses as your investment strategy? Similar to being in the market, you don’t want this to be the only type of investment you do. How experienced are you in the real estate market? Do you have the capital to make this happen? Real estate can be capital intensive, whether you are flipping or renting the property.
Listen to the entire episode or click on the timestamps below to hear Matt’s answer to a specific question.
3:36 – How can I avoid market volatility but still save for retirement?
9:32 – Do you understand how Social Security works?
13:27 – Should you refinance when close to retirement?
20:46 – What’s your opinion on flipping houses as an investment strategy?
22:33 – What are the tax implications?
“We want to be logical with our money. Part of that logic is understanding, if we’re going to invest in something, we understand the risk and we’re comfortable with the risk.”
-Matt Hausman
Additional Podcast Episodes:
TOP PLACES TO RETIRE AND HOW THEY AFFECT YOU FINANCIALLY
ELECTION WORRIES & STEPS TO SAVING FOR RETIREMENT
BE AWARE OF THE LATEST FRAUDS, STAYING POSITIVE, AND INHERITANCE QUESTIONS
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The host: Matt Hausman – Contact – Resources – Call: 610-719-3003
