It’s time to find out what’s on your mind as it relates to retirement planning. Let’s open up the mailbag and answer a number of questions spanning from home equity loans to market volatility to Roth 401k options and much more. We’ll cover many different topics over a short period of time so this should be a valuable episode to anyone looking to learn.

 

Read more and get additional resources here: https://johnsonbrunetti.com/?p=5000 

 

Today's rundown: 

0:09 – Mailbag question #1: I want to put in a screened-in porch but the only way to pay for would be take an extra $20K out of my IRA or taking out a home equity loan. Which is better?

3:41 – Mailbag question #2: I haven’t decided on a specific retirement date but it should be in the next four years. With all of the market volatility, should I just move my retirement savings to cash until it all blows over?

5:34 – Mailbag question #3: As part of my divorce settlement, I’ll receive a portion of my husband’s pension for as long as he’s alive. Should I take out a life insurance policy on him in case he dies well before me since I’ll lose a large portion of my retirement income?

7:27 – Mailbag question #4: My company matches my 401k contributions but they do it in the form of company stock. I’m not excited about that investment but I don’t want to miss out on any matching funds. Should I still try to put in as much as I can?

8:33 – Mailbag question #5: I know that I need an emergency fund, but instead of putting money into a savings account, can’t I use a home equity line for that?

10:14 – Mailbag question #6: I never hear anything from my financial advisor unless I call him myself and this bothers me. Should I be bothered or is that okay?

10:59 – Mailbag question #7: My husband was born in the 50s but has the mindset of someone born during the Great Depression. I think we’ve saved enough for retirement but he’s convinced we both need to continue working and not spending behind the basics. Is there a way to fix this?

12:50 – Mailbag question #8: I’m probably not what you’d call a savvy investor. I’ve always saved a lot for 35 years and have a big 401k balance. But I have no idea how I should be investing my current dollars or future savings. Have I handicapped myself by having no knowledge of the investing world?

14:50 – Mailbag question #9: They recently announced at work that our 401k would now have a Roth option. Should I put my future savings in that rather than the traditional 401k?  

16:44 – Mailbag question #10: I’ve looked forward to retirement for many years but now that I’m retired, I can’t shake the feeling that I’ll run out of money. Is there any solution to fighting this feeling?