Bedrock Investment Advisors
President, Financial Advisor
Jeff Boettcher began his career in the financial services industry at the Chicago Mercantile Exchange (CME), specializing in currency futures and options. As technology was quickly reshaping the commodities markets, and because of Mr. Boettcher's interest in helping people, Mr. Boettcher left the CME to begin assisting clients to grow and protect their investments.
As Mr. Boettcher's business and experience grew, he worked with several Investment Firms culminating at the Private Bank of Wachovia Securities. With years of experience under his belt and because of his desire to provide unbiased investment advice, Mr. Boettcher took the opportunity to establish Bedrock Investment Advisors, LLC (Bedrock). Bedrock provides exclusively fiduciary-driven, objective, advice, to clients around the Country, who value a close working relationship with their primary financial advisor.
Jeff's focus has always been helping clients grow and protect their wealth, but his knowledge has also compelled other financial professionals also to hire him to help them provide better solutions to their clients. Jeff has built his business through an education-focused methodology working closely with his clients so they can better understand their investments and financial options.
Outside of work Jeff enjoys hiking, golfing, and spending time with his wife and growing family.
Miami University (Ohio)
Assets Under Management:
For informational purposes only. Articles and/or information shared are not to be considered investment advice nor an offer to buy or sell securities. All investment strategies have the potential for profit or loss. Content should not be construed as legal or tax advice. Investment advisory services offered through BWM Advisory, LLC (BWM). Insurance services offered through Bedrock Financial Services, LLC (BFS). BWM Advisory, LLC d/b/a Bedrock Investment Advisors is registered as an investment adviser with the SEC and, along with BFS, only conducts business in states where it is properly licensed, notice filed or is excluded from notice filing requirements. Registration is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a particular level of skill or ability. Current 'Assets Under Management' figures can be found on BWM's updated ADV.
To Robo - Or Not to Robo... Time and expectations are key. The fact that you are asking questions through a generic forum suggests that the Robo-solution may not be the best answer for you. A Robo-solution may be best suited for someone who already has the answers they need and are simply looking for a particular portfolio implementation tool. Robo-solutions still fall short, at least in my opinion, of providing holistic advice to clients. The fact that you ask a rather general question, without going into detail about your needs (current, near-term, future, etc.) means that you may not fully understand what questions you should be asking - much less the answers to those questions. You could gain this knowledge through education, etc., but you might not be a perfect fit for the Robo solution at this time. Your son, on the other hand, has the benefit of a longer investment time horizon. Therefore he won't be as heavily punished should he fail to make the best investment decisions. His relative youth is a huge advantage to him and allows him the opportunity to save and invest less precisely - making up for certain mistakes as he ages and saves more. You, on the other hand, have fewer years and less opportunity to recover should you make mistakes implementing your retirement plan. In short - If you need answers to your questions, then you should begin your search for a knowledgable professional who can help you find the answers (and the questions) that you need.
Behind the Eight-Ball. Maximizing your 401(k) at this stage will be tough, but there are mechanisms you can and should engage in. Starting this late in your life makes Compound Interest (which Einstein called the 'Eighth Wonder of the World') less effective. However, you still have your company match, and that is likely going to be the most beneficial part of your 401(k) plan. Put as much into your 401(k) as you can but certainly consider putting in the amount that allows you to take full advantage of your company match (sounds like you already are - excellent). Now - let's talk about your Social Security claiming strategy. Your Social Security is likely a much more important part of your question and comment above. Sounds like you are going to have limited means when you retire and my suggestion about claiming your Social Security Benefits (SSB) in August is simple - DON'T. Don't claim your SSB this early. Obviously, there are extenuating circumstances that might make cause you to need that money today, but your SSB is going to be an incredibly large part of your retirement income. Allowing your SSB to continue to compound over the next several years while earning 'Late Retirement Credits' through Social Security, will provide you with more income when you finally retire (the amount you will earn from Social Security will continue to increase until you are 70). Consider the fact that you're currently earning an income from your employer and your income will also cause your Social Security Benefits to be taxed at a higher rate suggests that you should wait to claim your SSB's until you are much closer to retirement (possibly as late as 70).
The price you pay for a good should be directly related to the value you receive from it. Costs are relevant, and in a vacuum, with identical options and no other variables, it would be logical that you choose the cheapest option. But your circumstances don't offer this comparison. You have one choice to make, and it has very little to do with the internal cost of your employer's investment options. The choice you have is whether or not to put your money into your employer's plan. The decision you made will impact whether or not you receive your employer's match (and to a lesser degree whether you will be subject to the fees charged within the plan). I would suggest you focus on what matters in this circumstance. If you avoid the 401(k) as a result of fees, then you forgo the matching contributions. Imagine a hypothetical circumstance of being offered $100 to participate in something (this could be a fair example of your company's match), but you refuse to participate because you don't want to be charged a $1 entry fee (the 'hidden' fees you mention). So - to avoid the $1 fee you forgo the $100 you would have been paid. I can't tell you if what you heard from your employer is entirely correct or not because I have no accurate information on your plan - but, given the example, would your decision to participate be any different if the entry fee were $2 or even $5? You're wise to look into the fees - just remember to focus on the cost as a comparison to your available options and also as a function of what you expect to receive in exchange for that expense. By Jeff Boettcher
For informational purposes only. Articles and/or information shared are not to be considered investment advice nor an offer to buy or sell securities. Investment advisory services offered through BWM Advisory, LLC. Insurance services offered through Bedrock Financial Services, LLC (BFS). BWM Advisory, LLC d/b/a Bedrock Investment Advisors is registered as an investment adviser with the SEC and, along with BFS, only conducts business in states where it is properly licensed, notice filed or is excluded from notice filing requirements. Registration is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability.All investment strategies have the potential for profit or loss. Content should not be construed as legal or tax advice. You can see more articles published by Jeff Boettcher on PSRetirement.com and Retirement.News