How Money Works

Retirement planning isn't always a smooth ride, and sometimes it can feel more like spinning a wheel or picking a mystery box. In this playful but practical episode, Craig and Jennifer turn retirement planning into a game show, using iconic formats like The Price is Right and Are You Smarter Than a Fifth Grader? to unpack the real-life financial decisions people face every day. Underneath the fun lies serious wisdom. Craig and Jennifer discuss why focusing only on “the pile of money” misses the bigger picture, how the timing of your pension or Social Security benefits can make or break your plan, and why cash flow, not just account balances, is what truly matters. You'll also hear their take on simplifying your strategy so it works for you in real life, and not just on paper. Here's some of what we discuss in this episode:

Retirement planning comes with no shortage of conventional wisdom, but how much of it is actually true? In this eye-opening episode, Craig and Jennifer go full-on mythbusters mode to take down some of the most common financial planning myths that could seriously derail your future. From the illusion of simplicity ("all I need is a will") to dangerous assumptions about income, inheritance, and investment strategies, they expose how outdated thinking can cost you, sometimes for generations. It's a candid look at what real planning requires, especially if you're a business owner or navigating a complex life transition. With decades of experience, Craig and Jennifer guide you through the truth behind the myths, and the smarter steps you can take now to protect your lifestyle and legacy.  Here's some of what we discuss in this episode:

When the market takes a dip—or just feels unpredictable—it's natural to want to do something. But when it comes to your retirement plan, sometimes the smartest move is actually to pause. In this episode, Craig and Jennifer share a calm, methodical approach to navigating difficult markets without panicking, overreacting, or making costly mistakes. Tune in if you've been looking at your portfolio lately and wondering, “What should I do now?” You'll learn why the duo recommends a “bucketing” strategy to separate near-term needs from long-term growth, how to think about volatility in real dollars (not just percentages), and what questions to ask if you're worried about whether your plan can hold up. Plus, Craig explains how sensitivity analysis helps you stress-test your portfolio so you can stop guessing and start planning with clarity. Here's some of what we discuss in this episode:

Plenty of people have concerns about stock market volatility, a potential recession on the horizon, and fears for the economy right now. Retiring in a down market can feel like stepping onto a shaky bridge, but with the right structure, it doesn't have to be. In this episode, Craig and Cameron unpack strategies for financial stability and peace of mind- like smart diversification and tuning out the media noise- even when the headlines are shouting panic. They cover how to build a resilient portfolio using the “three-bucket” strategy, how to plan for consistent income even if the market drops, and why risk, volatility, and media noise don't have to define your retirement. You'll also hear a powerful real-world example of how sequence-of-return risk can derail a plan and what to do instead.  Here's some of what we discuss in this episode:

When it comes to your financial future, a few bad assumptions can lead to costly mistakes. In this episode, Craig and Jennifer break down some of the most common (and dangerous) misconceptions people have about retirement planning. We'll discuss why a Roth IRA is an account—not an investment, the truth about delaying Social Security benefits, and why assuming your pension lump sum is always the best option might not work for you. We'll also talk about the implications of tax brackets and how tax laws could shift dramatically if the Tax Cuts and Jobs Act (TCJA) expires. With more than 30 years working with clients, we can help you make more informed financial decisions and avoid bad assumptions with your retirement plan. Here's some of what we discuss in this episode:

Ever wonder what other people talk about with their financial advisors? A new survey of nearly 400 experienced advisors reveals the biggest concerns, challenges, and financial goals their clients are facing today. In this episode, Craig and Jennifer Moser break down the results and compare the findings to what we see at Maestro Wealth Advisors. We'll unpack insights on why 52% of clients are primarily focused on retirement planning, what higher-net-worth families often overlook (like estate planning!), and how to build reliable income streams that don't collapse in a market downturn. You'll also learn why outliving your money, healthcare costs, and supporting both aging parents and adult children are becoming top financial concerns. Here's some of what we discuss in this episode:

There are a lot of things to consider when it comes to investing in real estate, especially if you're buying a rental property. Not only are there tax implications that come with buying and selling real estate, but there is also the labor element that comes with being a landlord if you choose to buy a rental property.  In this episode, Craig and Jennifer will dive into the realities of real estate investing, from passive income potential to the hidden headaches of being a landlord. They break down the biggest financial mistakes rental property owners make, including underestimating maintenance costs, dealing with tenants, and the massive tax bills that can hit you when selling an investment property. Plus, they explain the 1031 exchange strategy, a powerful way to defer taxes and keep more of your gains when selling real estate. Here's some of what we discuss in this episode:

When you think of retirement planning, saving and investing are two of the things that likely come to mind first. That's why many people are unprepared for the next phase of the plan, which is the shift to distribution. Knowing how much income you'll need and where that money is pulled from is incredibly important for retirement success so today we're talking all about this essential component of planning. We'll talk through different factors that we need to understand before putting together the income plan, including your income goals, cash flow, and the impact of taxes and inflation on your retirement savings. This discussion provides a look into the complexity of retirement planning and the need for thoughtful consideration and expert guidance. Here's some of what we discuss in this episode: Income goals are one of the most crucial things you should decide on as you plan for retirement. Understanding the taxes you'll have to pay on your retirement savings is a big part of determining where to take your money from. What reliable sources of income will you have? Why are people usually unprepared in this area? Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

Kids and grandkids often play a big role in financial plans. Let's talk about some of the common scenarios we see where the future generations somehow come into play during the retirement planning process. Find out how Maestro Wealth typically advises people in these situations. This episode will explore challenges like supporting adult children as you approach retirement, preparing for future healthcare costs, and the various savings tools available for children's education. The conversation highlights the importance of having open discussions with family members about financial responsibilities and the potential impact on future financial security. Here's some of what we discuss in this episode: Families where mom and dad are on the verge of retirement with kids that are adults but still “on the payroll” in some fashion. Parents who had kids later in life and are still paying for college as they head into retirement. Grandparents who want to help with education costs for their grandchildren. Aging parents who are counting on their children to take care of them in their later years. People who want to be very intentional about leaving a financial legacy to their kids and grandkids. Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

It's been an incredibly busy week since the Trump administration took office and investors are wondering how the current economic landscape might be changing.  As we navigate through an era of volatility, understanding what changes are happening is crucial for making informed financial decisions. Most of the focus is on the recent changes in government policies and their implications on the economy. Having patience during this transitional phase is critical, as new policies take time to yield results. While volatility is to be expected, it also presents opportunities for savvy investors. Along with the policy changes, we're keeping our eye on interest rates, inflation, and AI as well over the cming year. Join us for a look ahead and learn more about strategies to navigate market volatility.   Here's some of what we discuss in this episode: There's pressure from the administration to move forward with further rate cuts sooner. If rates decline this year, wouldn't it make sense to have interest rate-bearing investments? Which sectors are more positive right now and where should you be investing for AI? It's important to talk about your fixed income strategy now that rates have plateaued. Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin 

We live in a world where truth, half-truths, and lies are seemingly getting harder and harder to distinguish in our day-to-day lives. Whether you're scrolling a social media feed or watching a financial show, what's fully true and what isn't can seem to be all over the place. Today we're going to help provide context to those half-truths so that you can understand why these financial statements don't paint the full picture. We'll share insights into managing investments at different life stages, the role of diversification, and the impact of fees on your portfolio. Plus, we'll explore the emotional versus mathematical aspects of paying off a mortgage and the role of bonds in reducing portfolio risk. Here's some of what we discuss in this episode: The market always goes up in the long run, but that may not be helpful depending on what stage of life you are in.  Understanding what fees are in your portfolio and knowing what you're getting for those fees. The question of whether you should pay off the house early or use the money to invest instead when interest is low. Diversification is a key to a strong portfolio but is it THE key? Do bonds significantly reduce the risk in your portfolio? Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin 

Retirement can be more stressful than it seems. After working your entire adult life, the lifestyle changes that come with retiring can feel overwhelming. Sometimes, your “dream retirement” isn't quite what you expected. Today, Craig and Jennifer will cover some unique challenges that come with retirement and share strategies to manage the stress that comes with it. They'll discuss setting meaningful goals, finding a new sense of purpose, and more. If you're feeling anxious or uncertain about retirement, this episode is a great way to get on the right track! Here's some of what we discuss in this episode: The challenges that come with this massive change of pace Setting goals and making the most out of every day Not everything is going to go exactly as expected, so be flexible How retirement has changed in more recent years Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

Retirement doesn't always turn out like you see in commercials and movies. We'd love to be laid back on a tropical island, but we want to manage expectations. It's essential to have a realistic view of your financial capabilities and lifestyle desires. Today, Craig and Jennifer discuss the importance of managing retirement expectations, adjusting to changing expenses, and the necessity of a comprehensive financial plan. Discover why it's vital to plan for both essential and lifestyle expenses, and learn how to navigate the complexities of taxes, inflation, and investment strategies in retirement. Here's some of what we discuss in this episode: Sticking to your budget and making sure the math works. Making sure to account for changing expenses in retirement. The need to be able to be flexible and be able to pivot. Finding new things to do in retirement if you're no longer working. Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

As we journey through life, certain questions about retirement and financial planning often go unasked until it's too late. On this episode, Craig is joined by Cameron Moser to shed light on these critical issues, offering perspective on the financial challenges that come with aging. The discussion will cover the realities of downsizing, tax implications after the loss of a spouse, and the importance of planning for long-term care. With insights from over 35 years of experience, Craig shares personal anecdotes and expert advice to help you navigate the complexities of retirement planning. Join us for a conversation that highlights the importance of preparing for the unexpected. Here's some of what we discuss in this episode: Downsizing and decluttering in life, from your home to your finances. Tax and other financial considerations when one spouse passes away. The reduction in Social Security income after one spouse dies and how to plan for that. Turning your savings into something that produces income. Making sure that your kids are on board with your long-term care plans. Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

Planning for retirement now is not what it used to be. Gone are the days when a pension, Social Security, and personal savings—the three-legged stool—were enough to secure a comfortable retirement. Today, individuals must navigate the intricacies of 401(k)s, IRAs, and other investment accounts that lack the guaranteed income of traditional pensions. While retirement success might be falling more and more on each individual to plan effectively, it doesn't mean it's impossible to accomplish. Craig and Jennifer will dive into the complexities retirees face today and the biggest challenges you'll need to address within your plan. Learn about the impact of market volatility, the importance of creating a reliable income stream, and how to navigate the challenges of longer life expectancies and rising healthcare costs. Here's some of what we discuss in this episode: When pensions were common, retirement planning used to be a lot easier. The hardest question to answer is often ‘what are your retirement goals?' People are living much longer into their retirement. The sandwich generation faces a huge strain on their finances. Anxiety around the future of Social Security. Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin 

Financial planning is much more than investing and constructing a portfolio. You have to take your entire picture into account, which isn't easy to do on your own. That's why you want to surround yourself with a trusted group of professionals who can guide you through each aspect of planning.    In this episode, we're going to talk about the best approach to building an advisory team. We'll discuss the importance of a fiduciary standard, the nuances of investment fees, and the significance of a tailored investment philosophy. Discover how to build a trusted advisor network with your CPA, attorney, and financial advisor to ensure your financial health. Plus, learn how to ask the right questions when meeting with an advisor for the first time. There's a lot to cover in this episode of How Money Works and you don't want to miss any of it, so tune in and hear from Craig and Jennifer. Here's some of what we discuss in this episode: What makes an advisor a fiduciary? Knowing what services you are getting for the fees you are paying. How we help create a trusted advisor network for you. Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin 

When it comes to investing for your retirement, there are some simple mistakes to avoid that can help make you look like a true financial wizard. The benefit of working with a financial advisor is tapping into the experience they have to identify those missteps before they happen. Let's talk about what it takes to navigate the complexities of financial planning and set yourself up for long-term success. From the pitfalls of premature IRA withdrawals to the importance of maximizing employer matches and health savings accounts, this episode is packed with actionable advice. Learn how to avoid common mistakes like spending too much during your peak earning years and retiring too early. Plus, discover smarter ways to approach college tuition and the benefits of Roth IRAs. Join Craig and Jennifer as they break down these financial choices and explain what they could mean for you. Here's some of what we discuss in this episode: Why you should avoid withdrawing from an IRA early. The risks with overspending in your peak earning years. The changing approaches to college funding. The problems with retiring too early. Why Roths could be appealing.   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin 

As you approach retirement, it's important to ask the right questions. That's why we're taking some time today to answer questions you might not have considered. Do you still need life insurance in retirement? What additional medical coverage should you have beyond Medicare? Craig and Jennifer are here to guide you through these important topics. Tune in as they break down the big questions and explain what you need to know to prepare for them on this episode of How Money Works! Here's some of what we discuss in this episode: What will my tax-deferred savings cost me in taxes? How much can I withdraw from my accounts each year? Should I maintain a life insurance policy during my retirement? How will I cover my medical expenses?   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

There are a few common retirement planning mistakes that can happen and set you back as you work to get to and through retirement. With more than 30 years of experience, Craig and Jennifer Moser have seen it all, and in this episode, offer up their best advice to avoid some common retirement planning mistakes. For example, as you approach your retirement years, there needs to be a shift from merely chasing high returns to ensuring you have a steady income. You also want to consider strategies to limit your tax liability. What about when you should start taking your Social Security benefits? There are a lot of questions and common mistakes that can come with retirement planning, and it's always helpful to have an experienced and qualified advisor on your side. Tune in to this episode of How Money Works for practical tips to ensure your retirement plan stays on track!   Here's some of what we discuss in this episode: Some of the unknowns of retirement planning. Limiting your tax liability. When to start taking Social Security benefits. Focusing on returns versus focusing on income. Making sure that you are getting advice from the right places.   Contact Maestro Wealth: Web: https://maestrowealth.com/ Email: info@maestrowealth.com Phone: 336-448-1086

As we begin to move into the final months of the year, there's plenty to keep an eye on as it relates to our money and retirement. In this episode, Craig and Jennifer discuss the current financial trends as we approach Labor Day and what they mean to planning. We'll give our thoughts on the volatility in the market, touching on the all-time high of the Dow Jones Industrial Average, the shift in leading sectors, and the implications of the Federal Reserve's potential interest rate adjustments. The conversation also covers alarming statistics on household debt, credit card delinquencies, and the rising cost of living. Join us for a comprehensive overview of the economic landscape and what it could mean for the future.   Here's some of what we discuss in this episode: The panic/euphoria model and what that's looking like right now. What the recent jobs report revision might mean. Most common debts people are in right now. How presidential elections impact the market.   Contact Maestro Wealth: Web: https://maestrowealth.com/ Email: info@maestrowealth.com Phone: 336-448-1086

In the ever-changing world of finance, preparing for the unexpected is not just wise—it's essential. In this episode, Craig and Jennifer will explore this very topic, using the timeless story of Noah's Ark as a metaphor for financial planning. We'll cover financial planning items like investing, diversification, long-term planning, and the role annuities can play in your portfolio. Retirement planning is a journey filled with uncertainties, much like Noah's experience building the ark. By expecting the unexpected, diversifying your investments, and sticking to a long-term plan, you can navigate the financial waters with confidence.   Here's some of what we discuss in this episode: Planning for things that you expect to happen in retirement. Strategies for building a balanced portfolio to protect yourself from the ups and downs of the economy. Maintaining a long-term horizon in financial planning. An example of how annuities can be used to help limit downside.   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin 

Retirement is a significant milestone, and with it comes the need to understand Medicare. For many, the transition from employer-provided health insurance to Medicare can be daunting. In this episode of the podcast, Craig and Jennifer dive into the essentials of Medicare to help you get a better understanding of this key piece of retirement planning. They break down the different parts of Medicare—A, B, and D—explaining what each covers and the costs associated. From hospital care to prescription drugs, we want to clarify common misconceptions and provide valuable insights for those nearing retirement. Tune in for a comprehensive discussion that will help you navigate the complexities of Medicare.   Here's some of what we discuss in this episode: What you need to know about the different parts and the costs associated. One of the most common misconceptions about Medicare is that it's free. The differences between Medicare Advantage plans and Medicare supplement plans. What Medicare doesn't cover.   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin 

Are you curious about the current state of the real estate market in North Carolina? In today's episode, special guest Nick Gonzalez, CCIM, the co-owner of Linville Team Partners in Winston-Salem, joins Craig on the show to talk all about the world of investing in real estate with a special focus on real estate investing in the Triad. Join Craig and Nick as they dive into the current real estate market in the area, highlighting significant economic growth driven by a massive population influx and major projects like Toyota's new plant. They also discuss common mistakes real estate investors make, risk calculations for investors, strategies to limit your tax liability when investing in real estate, and much more. Don't miss these great insights for both seasoned investors and those just starting out!   Here's some of what we discuss in this episode: An overview of the real estate market in the Triad. The number one mistake that real estate investors make. The need to diversify. Risks for real estate investors today. Strategies to limit your tax liability.   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin 

Ever wondered how the timeless wisdom of Mark Twain applies to finance? Known for his wit and profound observations on life, Twain's words offer more than just entertainment—they provide valuable lessons for managing your finances. Join us as we discuss financial tips through the lens of some classic Mark Twain quotes.   Here's some of what we discuss in this episode: Planning and preparing for the unpredictable. How to convert your investments into cash flow. Building a retirement plan that will survive changes in the law. Having a solid foundation for your big financial goals. Taking the first steps towards your retirement.   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

Investing can be a daunting task, especially for those who are just starting out. Even seasoned investors can fall into common traps that can derail their financial goals. In this episode, we'll share our experience on how to avoid rookie investing mistakes and build a solid financial plan.   Here's some of what we discuss in this episode: Making sure that you make investments with a purpose. Avoiding emotional decision making. Keeping focused and avoiding going after ‘hot tips.' Making sure that you aren't unknowingly paying fees. Common mistakes when it comes to tax implications.    Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin    

The 401(k) ​is ​a ​great ​tool. ​It's ​easy ​and ​painless, ​which makes it a ​great ​way ​to ​build ​our ​savings. But ​it's ​also ​easy ​and ​painless, ​which also ​means ​we ​ ​tend ​to ​forget ​about it ​for ​long ​periods ​of ​time. Today we're going to talk about a few of the places where people make mistakes with their 401(k).   Here's some of what we discuss in this episode: Why it's usually better to move money out of an old employer plan. Don't leave money on the table by not taking advantage of a company match. Target date funds aren't usually the best way to customize a portfolio. Your portfolio needs to be rebalanced as you closer to retirement. Your 401k might have higher costs than you realize.   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin 

Have you ever felt a rush of excitement when your investments soared, or a pang of fear when they plummeted? You're not alone. Emotions can play a powerful role in our financial decisions, sometimes leading us astray from our long-term goals. In this episode, we'll dissect the emotional undercurrents that can influence our investing behavior.   Here's some of what we discuss in this episode: Too many times, greed comes from a misunderstanding of returns. You need a portion of your investment portfolio to generate consistent income. Fear and panic drive people to act emotionally instead of logically. Several people come in and rely on hope to get them to retirement. How pride can get in the way of your financial success.   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin 

As the baby boomer generation begins reaching the later stages of life, a staggering amount of wealth is set to change hands. Experts estimate that between $40 trillion to $100 trillion will be transferred to younger generations over the next two decades. This seismic financial shift is not just about numbers; it's about families, legacies, and the future of personal wealth. On this episode, Craig and Jennifer tackle the intricacies of this great wealth transfer.   Here's some of what we discuss in this episode: Why this transfer of wealth could be so critical to future generations. Understanding the rules of inherited IRAs is very important. What changed with SECURE Act 2.0? Giving an asset like real estate or stock to somebody can create tax issues. How cost basis is calculated and why it makes a big difference in tax planning.   Contact Maestro Wealth: Web: https://maestrowealth.com/ Email: info@maestrowealth.com Phone: 336-448-1086

Today we're going to have a little fun weighing in with a spirited game of 'Agree or Disagree,' where Craig and Jennifer dissect and debate some of the most pressing financial questions facing individuals today.   Here's some of what we discuss in this episode: Whether you should pay off your mortgage as soon as you can. Are individual bonds better than bond funds? Should you get rid of your life insurance in retirement? What are the best ways to utilize annuities? Is it better to have a fee-based advisor or a commission-based broker? Contact Maestro Wealth: Web: https://maestrowealth.com/ Email: info@maestrowealth.com Phone: 336-448-1086

The journey to retirement is rarely a straight path, and sometimes it comes with a few surprises. So, when the rug is pulled out from under you with an unexpected retirement offer, do you take the money and retire, or get back on the job hunt? Join Craig and Jennifer as they discuss the complex decisions that come with retiring early in this episode.   Here's some of what we discuss in this episode: Should you accept retirement buyout offers if it includes a severance? The importance of running the numbers when it comes to making these decisions Considerations between choosing a pension versus a lump sum payment Opting for a reduced pension to cover a spouse versus purchasing a life insurance policy   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin     

Most people think about life insurance as a safety net for their loved ones in case of unexpected tragedy. While this is undoubtedly a crucial aspect, there is more to life insurance than many people are aware of. In this insightful episode, we're focusing on the multifaceted world of life insurance and its often-overlooked benefits.   Here's some of what we discuss in this episode: Considering life insurance for income replacement + obtaining it when you're healthy The role of life insurance in estate planning for liquidity purposes Life insurance as a tool for transferring generational wealth + business succession planning How life insurance can be a beneficial tool for high-income earners Using life insurance to fund long-term care expenses   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

Being in between jobs can be frustrating. If you find yourself in this season, it's important to have a clear plan of action to keep your finances in order. Stay tuned as Craig and Jennifer discuss some areas to consider for those facing job changes, layoffs, or contemplating early retirement.   Here's some of what we discuss in this episode: Do you have enough time and resources to start over in a new career? The considerations should be made before venturing into entrepreneurship How will you cover health insurance costs during this time? Is this a good time to roll over your 401(k), and what factors should be considered? When receiving a severance package, should you opt for lump sum or monthly installments? The importance of having sufficient insurance coverage beyond life insurance   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

The decade leading up to retirement comes with many things to think about. Not only are there some financial shifts and opportunities to navigate, but it's important to keep your physical health and goals for retirement in focus too. In this episode, we'll unpack the key elements that matter most during the home stretch of retirement planning.   Here's some of what we discuss in this episode: Staying active and healthy in the later years of your career Figuring out what you're retiring to and building that into your financial plan Some financial opportunities to take advantage of your last 10 years of working Taking a look at your debt + risk management   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

It's easy for business owners to get so focused on their work that they overlook some of the long-term planning areas that need to be addressed. Today we want to highlight a few of the items that need your attention and explain why it's necessary to have a sense of urgency with these things.     Here's some of what we discuss in this episode: Business owners need to be thinking about the what ifs for their business. Why you need to prioritize having an emergency fund built for 3-6 months of expenses. How should you handle an early buyout offer? Have you thought about life after working and have you started planning? Different challenges that come with succession planning for your business.   Contact Maestro Wealth: Web: https://maestrowealth.com/ Email: info@maestrowealth.com Phone: 336-448-1086

Everyone wants to get the year started on the right foot so today we're going to run through a checklist of financial items you need to address in 2024. We'll explore the nuances tax planning, share some tips for staying organized, and make sure you're making the most out of your retirement contributions in the coming year. Staying on top of your overall financial health will give you the opportunity to make adjustments before it's too late and help you stay on track to reach your retirement goals.   Here's some of what we discuss in this episode: Are you withholding the right amount of money from your paycheck? What you should think about with your retirement account contributions. Tips for gathering all your info for this year's tax filing. Now is a great time to assess your overall financial health.   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

We all seem to have a renewed focus on our health as the new year rolls around so let's take some time to talk about your financial health and a few of the key indicators that show you're in good health. Each of the things we'll discuss today might seem pretty straightforward or even obvious, but they are often overlooked or ignored. So let's lay out some easy steps you can take in the new year to make sure your financial health gets a   Here's some of what we discuss in this episode: Changing your spending habits to help increase your free cash flow. Why it's important to understand the future tax implications of your money. Do both you and your spouse know enough about your retirement plan to be able to manage it? A complete retirement strategy will help alleviate worries about your future.   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

Having certainty in retirement is always the goal, but life just doesn't allow for that. There are unforeseen circumstances that will undoubtedly arise in each of our lives, so how do you prepare for questions that don't have answers yet? We'll dive into the unpredictable world of financial planning and talk about how to stay informed and adaptable in retirement.   Here's some of what we discuss in this episode: What economic indicators should you be paying attention to? Recent trends in consumer spending and inflation. Positioning yourself so a recession early in retirement isn't devastating. Preparing for an uncertain future in healthcare. Tax planning without knowing what future rates will look like.   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

In this episode, we'll weigh the pros and cons of different accounts, starting with tax-deferred accounts like 401(K)s and IRAs. Then we'll shift to the tax-free options and the benefits that Roth IRAs can provide over time. Tax planning might not be the most exciting thing to dive into, but understanding the different tax strategies can help you keep more money in your pocket.   Here's some of what we discuss in this episode: The pros and cons of tax-deferred accounts, which most people use to invest. The benefits of tax-free accounts like the Roth IRA. Using a product like a CD instead of a type of account. Tax strategies for pre-tax accounts versus tax-free accounts.   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

In this episode, Craig and Jennifer unpack the common pitfalls people encounter when cutting corners in retirement planning. From taking excessive investment risks to neglecting legal documents and estate planning, this episode sheds light on some crucial aspects of financial preparedness. Stay tuned to see why thorough, proactive planning and informed decision making are so important in the world of finance.     Here are some of the cut corners we discuss in today's show: Taking too much risk in investments Neglecting essential legal documents and estate planning Not planning for long-term care   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

Everyone we work with will have a different comfort level when it comes to risk, which we account for when building a plan. But what does it mean when someone tells us they are risk averse? So how do we determine someone's true capacity for risk? In this episode, we'll tell you about an online tool we use with people to find out which range of outcomes they're comfortable with and explore the idea of being risk averse and what that truly means to planning.   Here's some of what we discuss in this episode: What does it mean to be risk averse? How does someone end up in risky investments when they think they're risk averse? A situation where we saw someone carrying a lot more risk than they realized. What are some ways that we would help someone plan who is risk averse?   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

It's pretty hard to believe that it's been nearly 30 years since the movie Forrest Gump hit theaters. In case you needed another reminder of your age, there you go. That was one of the great movies of all time, winning multiple Oscars and grossing more than $600 million at the box office, and it still holds up today with its memorable quotes. Today we're going to share some of our favorites but apply a little financial planning lesson from what Forrest said. And that's all we have to say about that.   Here's are the quotes we'll have fun with in this episode: "My mama always said, 'Life was like a box of chocolates. You never know what you're gonna get.'" "Mama always said you've got to put the past behind you before you can move on." "What's normal anyways?" "Mama always said, dying was a part of life. I sure wish it wasn't."   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

If you're someone who likes to procrastinate, especially when it comes to your finances, then this episode might be just what you need. We're going to ask Craig and Jennifer about some planning items and find out whether it's okay to put things off for later or whether they need our attention now.   Here's some of what we discuss in this episode: Why you may or may not want to defer taxes until a later date. Should we always make it a priority to pay off all of our debt? Estate planning documents are always best to take care of sooner than later. Times where you might want to take Social Security now and examples of when it's best to wait.   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin     

Are you considering incorporating annuities into your financial planning but find them too complex to comprehend? You're not alone. Annuities are often misunderstood, and this lack of understanding can deter people from utilizing this financial tool. In this episode of our podcast, we delve deep into the world of annuities, exploring their complexities, benefits, risks, and real-world applications.   Here is some of what we'll discuss on today's show: Before you can dive into annuities, you need first to understand the basics of annuities. The different rider options that come with the annuity and the costs associated with those. What does it mean to annuitize a contract. Using annuities to pay for long term care in retirement. The different risks that come with annuities. We'll share some examples of people who have utilized annuities into their retirement plan.   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

All the statements we're going to talk about on the show today are all commonsense items that pretty much no one would disagree with on the surface. But for some reason, our actions often don't line up with the obvious strategies. Let's talk about why that is and what we need to do to stay on track.   Here is some of what we'll discuss on today's show: Why is it so difficult for investors to follow the strategy of buying low and selling high? Investors don't think of a down stock market as a sale like they would when shopping normally. What can you do to avoid paying more in taxes than you have to? How can you keep costs and fees down so you don't eat into returns? An example of why diversification is so important.   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

What we want to do today is think about the clients we work with, the styles of people that we see, and determine if there are any investing similarities between people in the same industry.  The mindset and the skillset that drove them into the profession might also affect how they plan – or don't – for retirement. It's an interesting exercise but one that will be fun to talk through and discuss. Join us to see if your profession is on the list and let us know if you've seen similar traits.   Here is some of what we'll discuss on today's show: Most teachers have two main sources of income in retirement. Do teachers value planning more with their background of lesson plans? Does the intelligence of doctors translate to structured and sound financial planning? Engineers really like the details and opening up the hood on how the plan works. What we enjoy most about working with entrepreneurs and small business owners.   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

Today we're talking about retirement statistics. For example, did you know that 56% of Americans lose sleep when they think about retirement? That's no way to live your life. That's why we're here to help you plan.   We'll share some more stats that will make you think and might even change your mind on some topics. As always, if you have questions about retirement or investing, feel free to reach out to us for help.   Here is some of what we'll discuss on today's show:   Women are 27% more likely than men to have no retirement savings. 76% of Baby Boomers aren't confident they've saved enough for retirement. Nearly one-third of homeowners of retiring age still have mortgage debt.   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

Let's talk about some of the areas of your financial life where disaster might be right around the corner.  Too many people are walking around with no documents, or documents that are in desperate need of an update. Don't let this be you. As always, if you have questions about retirement or investing, feel free to reach out to us for help.   Here is some of what we'll discuss on today's show: Out of date legal documents (0:39) Tax time bombs (8:54) The classic 60/40 portfolio (15:59)   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

On the list of dozens of retirement-related concerns, how high on the list does the potential need for long-term care rank for you? If you live long enough, chances are you will need extra medical help, and those expenses can add up quickly. On today's show, we'll share some questions you should consider when deciding whether you need long-term care insurance.   Here is some of what we'll discuss on today's show: How likely is it for someone to self-fund their long-term care? (6:11) Is long-term care insurance a good investment for people? (9:16) Will a hybrid plan work for you? (14:52)   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

Just like the law of gravity in physics, there are financial laws that we need to consider. We'll share several important ones today, including the laws of behemoths, rising taxes, market movement and expectations. Do you know what the behemoths are? Tune in to today's show to find out more! As always, if you have questions about retirement or investing, feel free to reach out to us for help.   Here is some of what we'll discuss on today's show:   The Law of Behemoths (0:37) The Law of Rising Taxes (5:10) The Law of Inflation (7:57)   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

For many people, a 401(k) is their most powerful retirement savings vehicle. That's because they're able to contribute so much to it and their employer is often contributing as well with a company match up to a certain percentage. Since a 401(k) is so easy to use, there may be some things you're overlooking with it. Tune in as we cover some important 401(k) considerations in this episode.    Here is some of what we'll discuss on today's show:   A 401(k) is not very liquid. (2:02) What is a target date fund? (3:17) How high earners often handle investing. (4:37)   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin   

When was the last time you took a test? It's probably been a while, right? On today's show, we'll invite you to grade your own financial competency by seeing how many of these questions you can answer confidently. We'll explain why it's so important for your financial future that you know the ins and outs of these questions.    Here is some of what we'll discuss on today's show: Do you know your net worth right now? (6:00) How much do you spend? (8:33) Do you know how much risk you have? (11:45)   Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/  Schedule a meeting: https://timetoseemaestrowealth.as.me/ReadytoBegin