When should you start taking Social Security? Do you really need a financial advisor? How should you invest your 401(k)? And what should you do if you receive an inheritance or financial windfall?

In part two of this Balance Your Wealth FAQ episode, Ryan is joined by Shaun, Bob, Tyler, Nic, and Adam to answer more of the financial planning questions they hear most often.

The team discusses why Social Security should not be viewed in isolation, how to think about the value of financial advice, common 401(k) investing mistakes, what to consider after receiving an inheritance, and how to know whether you are saving enough for your goals.

In this episode, you’ll hear discussions on:

• When it may make sense to take or delay Social Security• Why Social Security decisions should be part of a bigger plan• Whether you need a financial advisor or can manage things yourself• How an advisor can help with planning, behavior, tax strategy, and decision-making• Common 401(k) investing mistakes to avoid• What to do after receiving an inheritance or windfall• How to know if you are saving enough• Why comparison can create poor financial decisions• How to balance saving for the future with enjoying life today

They also explain why personal finance decisions are rarely one-size-fits-all. The right answer often depends on your age, income, tax situation, family needs, risk tolerance, retirement goals, and overall financial plan.

Which question do you think is the hardest to answer?

(1) When should I take Social Security?

(2) Do I need a financial advisor?

(3) How should I invest my 401(k)?

(4) What should I do with an inheritance?

(5) Am I saving enough?

Drop your answer below.

#FinancialPlanning #RetirementPlanning #SocialSecurity #401k #WealthManagement #InheritancePlanning #SavingMoney #BalanceYourWealth

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This material is purely intended to be general and educational in nature, and should not be construed as specifically-tailored investment, financial planning, tax, legal, or other professional advice. Information and data contained herein is as-of the date of publication, and may be subject to change in the future without notice. Any investment performance referenced is purely past performance, which is no guarantee of any future performance. Nothing contained herein should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or other financial product or investment strategy. All investment, tax, and financial planning strategies involve risk that you should be prepared to bear. You are highly encouraged to consult with professionals of your choosing before taking any action based on this material.