Jun 16, 2022

Let’s open up the mailbag and answer some of our listener’s questions about retirement, market volatility, and more.

Wanda says, “With my 6 siblings I inherited a 70-acre farm. 4 of my siblings want to sell and the rest of us want to keep it. Is it worth trying to buy out the rest of the farm? Or should we argue until we get to keep it all?”

We definitely don’t recommend arguing it out with your siblings. The four that want to sell it are in the majority so you’d probably lose out on that. We’ve seen too many family members fight during an estate settlement. If it’s possible to buy out the rest of the farm, that’s probably your best approach. Certainly, have a unified plan with your siblings that want to keep it.

Marty has been out of the market for several years. He’s missed out on a lot of growth. Should he wait to jump back in if there is a market crash?

There are no right answers in the market. We can’t predict whether there will be a crash or not. We suggest developing a long-term investment strategy. Depending on how far away you are from retirement determines how much risk you can take on.

Investing does involve a degree of volatility. Sometimes staying the course can be a bit intimidating, but preparing your plan to withstand volatility is your best approach.

Check out the full episode or use the timestamps below to hear a specific segment.

1:27 – Have you seen Top Gun?

2:55 – “Is it worth buying out the farm my siblings and I inherited?

7:52 – “Should I stay out of the market in case there is a crash?”

10:08 – Breaking down volatility

16:15 – You are doing this for the long term

For more, visit us online at http://flemingfinancialservices.com