We’re educating you about smart ways to manage your money. We hear so often that today the individual must be responsible for their own retirement. Joining us is Eric Hogarth, Certified Financial Planner and Johnson Brunetti Partner to answer some questions.
Hogarth answers frequently asked questions in today’s market:
- Sandy asked, “I’ve heard many times to never borrow money from your 401(k). When I borrow money from my 401(k), I am paying myself back. Isn’t that better than borrowing money from a bank or credit card company and paying them interest? I’d like to hear why you think that is a better alternative.”
- Cindy was wondering, “Do you have to invest a specified amount in an annuity?”
- Mike has heard it is a good time to buy stocks now that the market is down. His question is,” My wife and I are retired and never bought any stocks before, is this is a good time to buy and how do we determine what to buy?”
- Tim wanted to know what he should do with his 401K since he lost quite a bit of money. He asked, “Can I withdraw from my 401K without being taxed during the pandemic and is this a good idea?”
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Johnson Brunetti’s goal is to take the fear out of your financial future and give you confidence in what lies ahead.