Ep 39: Hidden Gems in Your Financial Portfolio

Home 9 Podcast 9 Ep 39: Hidden Gems in Your Financial Portfolio

The Concept:

If you’re like most people, you have old financial accounts that you haven’t looked at it recently and the statements are filed away collecting dust. You might not think much of them, but those accounts might be hidden gems for your portfolio if used in a different way. Let’s talk about where you should look and what you could gain out of these old investments.

The Reality of the Matter:

Working towards retirement takes a lot of planning ahead and forecasting so it’s not surprising that we don’t take enough time to look back through what we already have. Many of us possess accounts or investments that are filed away somewhere and don’t get much of our attention.

It’s important to always be assessing what your financial situation because there might be a better use for your money. By doing so, you might find that those old accounts could suddenly become hidden gems in your portfolio. On this episode of the Retirement Reality Podcast, we’re going to tell you where you might find these and how they could end up benefiting you more with a few adjustments.

The four areas we will focus on during the show are old 401k accounts, life insurance policies, savings accounts, and old pension funds. Do any of these sound familiar? Chances are that most of these probably do and we’ll take you through each with the help of Mike Kojonen.

Hopefully you’ll come out of this conversation with motivation to dig out those old statements and find out these hidden gems.


We also have some time on the show to answer a couple mailbag questions from listeners. The first asks about those online calculators that you’ll find on financial websites. Can you actually use the guidance they provide?

The second topic we’ll cover is investing extra cash you’ve accumulated. This listener has a significant amount of money in savings but is struggling to decide if they should just hold that money without getting much interest or invest it during a period of volatility in the stock market. Mike will weigh the pros and cons to each but also share other options this person might have.

Listen to the full episode or click on the timestamps below to skip around to a specific topic.

1:02 – Hoping to get educational seminars going again soon.

2:35 – More virtual seminars going up to the website as well.

3:11Mailbag question 1: An online calculator gave me an amount I need for retirement. How accurate do you think that is?

5:02Mailbag questions 2: I have almost $150,000 sitting in my savings account. I don’t like getting no interest on it but I’m also too scared to invest right now. Should I just leave it in the bank?

8:02 – Let’s talk hidden gems starting with the old 401k.

11:43 – What should you do with the life insurance policy you have?

14:00 – How can savings accounts be hidden gems?

16:11 – Last hidden gem: old pension fund.

19:04 – We work with clients to go through all of these things in a discovery meeting.

Thanks for checking out the Retirement Reality Podcast. We’ll talk to you again next week.

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