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Is this a good time to buy bonds? Should I hire a younger financial advisor? How much should I save for retirement? Let’s dive into the mailbag and answer these and other questions.

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Show Notes For This Episode

On this episode of Saving the American Dream podcast, we dive into the mailbag and answer some of your most pressing financial questions.

First up, is this a good time to buy bonds? It’s a question that’s been on a lot of people’s minds recently, and it’s really important to have a well thought out philosophy as it relates to investing. Michael explains how you can smooth out the market roller coaster through bonds.

Next, what kind of advice should you get from a financial advisor? Advisors manage investments, but should they talk to you about other things, such as social security, life insurance or legacy plans?

Most advisors aren’t looking at those things, but it’s critical that you work with an advisor who can assist you with all areas of your balance sheet and not just your investment portfolio.

Other listeners want to know how to retire at age 55 and whether to buy their company’s stock at a significant discount. Is that a wise move? Everything should be customized to a particular person’s unique situation. It often does make sense to take advantage of company stock, and there are several reasons why.

Another person asks: I’ve heard that I should be saving 10% of my income toward retirement. Does that sound accurate? Ten percent is a popular number that’s thrown out there a decent amount, but it doesn’t always hold up once you scrutinize it.

Finally, if you have a financial advisor who’s older than you, should you move to someone else who won’t retire before you do? Michael, who is 30, loves this question. Find out why in the podcast or use the timestamps below to jump to a specific section.

Navigating the Show

[1:20] Is this a good time to buy bonds?

[7:10] – What should I discuss with my financial advisor?

[10:20] – Should I buy stock in my company?

[14:30] – How can I retire at 55?

[20:38] – Should I save 10% of my income toward retirement?

[26:55] – Should I find a financial advisor who is younger?

 

“It’s really important to have a well thought out philosophy as it relates to investing, whether it’s your own philosophy or whether it’s the philosophy of your advisor.”

– Michael Schulte