Unlocking Your Financial Future

Ep 30: Mailbag Time - Contribution Limits, Social Security, & Marijuana Stocks

April 9, 2020

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.


Get the full show notes and additional resources herehttps://www.baschrock-fg.com/podcast/ep-28-mailbag-time-contribution-limits-social-security-marijuana-stocks/ 


Today's rundown: 

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?