Invest in Knowledge

If you've been watching the financial markets lately, you know that volatility is the name of the game. Prices rise, they fall, and it can feel like you're riding a rollercoaster at times. But here's the good news: Volatility doesn't always have to be a bad thing. In fact, with the right strategy, market downturns and fluctuations can present incredible opportunities for savvy investors.Welcome to The Retirement Fix, a podcast offering strategies for less stress and more success in your go-go retirement years. I'm your host, John Gigliello, a CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group and I'm here to be your guide to keeping more of your hard-earned money by making smart financial decisions in retirement. This podcast is for people nearing or in retirement who want to learn more about proactive tax planning, retirement income planning, social security timing, investment management and asset protection.  After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with people who are looking to make smart and responsible choices with their money. You can find out more about the services I offer as well as all my contact information on my website: www.jgigliello.com. For any questions, feel free to contact me at jgigliello@albanyfinancial.com.In today's episode, we're diving into a timely topic: How to turn stock market volatility into opportunity. I'm going to share 7 ways you can potentially take advantage of a market downturn and make volatility work in your favor. While I want to touch on all 7 points, we will spend most of this episode talking about tax-loss harvesting - a common strategy that may help you save money by lowering your tax bill. Since this strategy can offset ordinary income, taxpayers in high tax brackets and high-tax states may benefit most.Before I get into the details on the 7 strategies, I want to emphasize that I never encourage clients to try to “time the market,” but rather I urge most investors to stick with the long-term financial plan that we have designed to pursue their individual goals. Market volatility is built into each client's financial plan because we know it's going to happen. But we rarely know when.And even when taking advantage of market downturns in the ways that I am about to explain, it is crucial to not lose sight of the overall plan.

Do you know how much are you paying in income taxes nowadays?  if you're like most retirees, you might be paying more than you need to—and the frustrating part? The IRS isn't going to tell you how to lower your tax bill!But that's where I come in.One of the services I offer high net worth retirees is proactive tax planning. We review anticipated income, from all sources, each year and employ strategies to help clients make the most of their hard-earned money. If this sounds like something from which you could benefit, reach out to us. You can find more about the services we offer at www.jgigliello.com. "Welcome to The Retirement Fix, a podcast offering strategies for less stress and more success in your go-go retirement years.  I'm John Gigliello, a CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group and Enrolled Agent licensed by the U.S. Treasury Department, and I'm here to be your guide to keeping more of your hard-earned money by making smart financial decisions in retirement. This podcast is for people nearing or in retirement who want to learn more about proactive tax planning, retirement income planning, social security timing, investment management and asset protection.  After a life-altering health issue at age 39, my personal journey in life became clear: To share my knowledge of personal finance with people who are looking to make smart and responsible choices with their money. By the way, before I get into the meat of this episode, I want to take a minute to mention that we've changed the name of this podcast, formerly known as Invest in Knowledge. The name change to The Retirement Fix was made simply to better reflect the content that I have been sharing for the past three years and to help the appropriate audiences find me. You can still expect more of the same great tips on tax strategies, retirement planning, investment management and other challenges faced by people wanting to craft a secure and comfortable retirement.In today's episode, I am going to addresses a big pain point for many retirees – TAXES. Most of you just recently filed your 2024 tax returns, so the numbers may be fresh in your mind. Did you pay more than your fair share? Are you interested in learning ways to potentially save on your tax bill for this tax year and subsequent years? Then stay tuned, because you won't want to miss this episode.  Today, we're breaking down:How to avoid RMD tax penalties and keep more of your savings The secret to reducing or eliminating Social Security taxes How to pay 0% capital gains tax on your investments Ways to lower your Medicare premiums and avoid the Medicare Surcharge trap that most retirees don't even realize is possible Estate planning tricks that ensure your heirs get more, not the government And some pitfalls to consider with state income tax planningSo, if you're ready to keep more of your money and stop overpaying the IRS, let's dive in!"

As Benjamin Franklin said - there are only two certainties in life, and today, I'm not here to talk about death.If you're like most people I know, you're probably frustrated with our tax system.  Whether you feel that your taxes are too high or irritated that our federal, state and local governments waste tax dollars, trust me, you are not alone.  I remember a comedian mentioning one time that he was reviewing his paycheck and noticed a lot of his tax dollars going to “some guy name FICA” and proceeded to give a great punchline…  I don't even know the guy!” So, let's talk about taxes: Income taxes to be specific. If you earn a paycheck, you likely pay income tax, but if you are like many people the how and the why behind their annual 1040 forms remains a mystery to be solved only by their accountants every year.  Today, I am going to take a look at what, exactly, is income tax and how it works.Hi, I'm John Gigliello and you are listening to Invest in Knowledge, a podcast for people nearing or in retirement who want to learn more about proactive tax planning, retirement income planning, social security timing, investment management and asset protection.  After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with people who are looking to make smart and responsible choices with their money. Did you know that Income Tax was first collected by the United States government in 1862 to help finance the Civil War. President Abraham Lincoln signed into law a revenue-raising measure to help pay for Civil War expenses. The measure created a Commissioner of Internal Revenue and the nation's first income tax. It levied a 3 percent tax on incomes between $600 and $10,000 and a 5 percent tax on incomes of more than $10,000.The federal tax code was created in 1913, at the time, just 400 pages long. It now covers more than 70,000 pages of complex rules regarding income, exemptions and credits.So, what is Income Tax, other than something that we all dread paying? In a nutshell: Governments impose Income tax on money generated by businesses and individuals within their jurisdiction. By law, taxpayers in the U.S. must file an income tax return annually to determine their tax obligations.This tax then serves as a source of revenue for governments, used to fund public services, pay government obligations, and provide goods for citizens. Historically, the funds collected also help pay for government programs and services, such as Social Security, national security, schools, and roads. In addition to the federal government, many states and local jurisdictions also levy income taxes.One of the services I offer high net worth retirees is proactive tax planning. We review anticipated income, from all sources, each year and employ strategies to help clients make the most of their hard-earned money. If this sounds like something from which you could benefit, reach out to us. You can find more about the services we offer at www.jgigliello.com. And don't forget, we always encourage you to take part in the financial planning process to pursue a confident financial future and in turn, feel optimistic and proud about your accomplishments.  If you've diligently saved over the years and have accumulated investment and retirement assets AND you understand that the success of your retirement is too important to be managing yourself and you value experienced and professional guidance, feel free to give us a call for a complimentary initial consultation.  If there is a financial planning topic you would like us to address on a future episode of Invest in Knowledge, please reach out and let us know.

Before you file your tax return, listen up! A few important changes this year could put money back in your pocket. Be sure you're not missing out and tune in as we break down the key updates to the 2025 tax code. Spoiler alert: Not all of the changes will save you money.Hi, I'm John Gigliello, a CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group, and you are listening to Invest in Knowledge, a podcast for people who are planning for retirement or already retired and want to know more about proactive tax planning, retirement income planning, social security timing, investment management and asset protection.  After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with people who are looking to make smart and responsible choices with their money. Tax season is officially underway, so let's take a look at the changes for this filing season. Some may save you money, but some may not.  Even though Congress did not make major changes for this year, there are some new details to be aware of, especially for those who sell things online, bought an electric vehicle, or who prefer to get their refund as a savings bond.Before we get started, please remember that the rules for income taxes are complex and they change a bit every year, including annual inflation adjustments for tax brackets and the standard deduction. Bigger changes may be in store for next year and beyond, depending on how President Trump and Congress address the fate of the 2017 Tax Cuts and Jobs Act, which sunsets on Dec. 31 this year.Filing taxes might also be a little less cumbersome this year since the IRS upgraded its online services by adding features and making it easier to check the status of refunds. It takes taxpayers an average of 13 hours and $290 to prepare and file their tax returns, according to the IRS.  But the time and money seemed to pay off. Last year, tax refunds averaged $3,138, according to the IRS. Taxpayers who file electronically and choose direct deposit should get the payments within 21 days.Here are some key changes for this year to note:The Standard deduction has increased, along with other annual inflation adjustments.If you sold anything online, you might receive a 1099K.If you bought an Electric Vehicle in 2024, you may qualify for a tax credit. But you may also owe.Filers in disaster relief areas may be eligible for extended deadlines. More taxpayers are getting hit with penalties for underpayment. This year, there are more ways to file your taxes free.I bonds are no longer an option for your refund.

 Tax planning is an essential tool in managing finances, especially for the wealthy. If you are a high-net-worth retiree, looking to maintain the substantial wealth you have accumulated over your lifetime, this podcast episode is for you.Hi, I'm John Gigliello, a CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group, and you are listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.Today I am going to talk about tax planning for high-net-worth retirees.What is considered high net worth? Generally, it includes anyone with liquid assets of at least $1 million dollars, excluding primary residence, but many families below that threshold may also benefit from the tax planning advice I am going to share today. In this episode, I will provide insight into four areas of tax planning for HNW retirees: Roth IRA conversions, tax-efficient investing, estate planning and trusts, and charitable giving. High-net-worth retirees, in particular, need to pay special attention to their tax planning strategies. Planning for taxes can help them control retirement income, while leaving a legacy for their heirs, with less concern for tax consequences.The substantial assets of HNW retirees often mean they bear a heavier tax burden than average retirees. The key to managing their tax liability lies in creating a plan for taxes, utilizing various tax-efficient strategies, and remaining agile in response to changes in tax laws. 

For the 2023-2024 academic year, the average cost of college, per year, came to $11,260 for public colleges, if the student lives in-state, and $41,543 for a private university, according to college data.com. When you factor in room and board, those figures almost double at some institutions.These staggering figures leave many families to fret and wonder if they can possibly pay for higher education.Hi, I'm John Gigliello and you are listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.Today, we are going to talk college planning, specifically about Parent PLUS Loans – which are just one option when it comes to paying the price tag of a college education. We'll explore the pros and cons with our guest speaker and resident expert on all things college planning – Mike Whitney.Mike is a CERTIFIED FINANCIAL PLANNER™ who works as a financial paraplanner at Albany Financial Group. He helps families with college planning issues, as part of their overall financial plan, and has published white papers on the subject. 

The word Fiduciary has become a buzzword in the financial industry over the last few years, but what does it really mean?An investment fiduciary is a person, or entity, that has a legal and ethical responsibility to act in the best interest of their clients when managing their investments. This obligation requires the investment professional to prioritize the client's interests above their own when making decisions related to investment strategies, financial planning, or other related services.It may seem like common sense, but, believe it or not, some financial professionals are not fiduciaries and today, I will explain the difference. Hi, I'm John Gigliello and you are listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.  Today, I am going to explain what it means to be an investment fiduciary, why you might want to consider working with one and how to determine who is, and who is not, a fiduciary.Let me start by saying that in my practice as a CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group, I am an investment fiduciary. Clients are always welcome to ask me about that and what it means for them specifically. It's a question I get all the time: Don't all advisors act in the best interest of their clients?Well, most probably do, but not all are required to. That's what separates investment fiduciaries from other advisors. 

Investors are missing out on billions of dollars when they switch jobs. The reason is that many end up pulling their retirement savings out of the stock market—often without meaning to.This was the subject of a recent Wall Street Journal article which I think is important to talk about today.Many workers, when changing jobs, roll their 401k balances out of the employer plan and into an Individual Retirement Account. Many also, unwittingly, leave the balance in cash, which is a very costly mistake.Hi, I'm John Gigliello and you are listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.Today, I want to talk about the options workers have for their retirement savings when changing jobs and how to avoid costly mistakes.

For more than a decade, savings accounts offered little to no interest, making it near impossible to keep up with inflation. But in recent years, the tides have turned, if you know where to look.If you have extra cash on hand and want to start an emergency fund or a nest egg—a high-yield savings account can be a great option, providing an easy way to build your savings, with virtually no risk.Hi, my name is John Gigliello and you are listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life. Today, I am going to talk about high-yield savings accounts and how you can take advantage of the relatively high interest rates of the past two years.The content for this podcast episode was derived, in part, from a recent Wall Street Journal article on this subject.High-yield savings accounts have been providing some of the best returns on cash in years, and with inflation still above the Federal Reserve's 2% target, savers should have at least a few more months to enjoy generous interest rates, the Journal reported. But the bounty won't last forever. When the Fed starts cutting its benchmark federal-funds, rates on savings accounts should decline as well. Wall Street observers now expect rate cuts to begin in September or later. Until recently, the prevailing idea was that cuts would begin early this summer.Even though good rates are available now, many savers continue to earn meager returns. The average savings account pays just 0.45%, according to the Federal Deposit Insurance Corp.—but with a little legwork you can do far better. Some savings accounts offer an Annual Percentage Yield (APY) as high as 5%, a rate that's especially appealing considering inflation is hovering around 3%.Taking advantage of higher rates could mean as much as $500 a year for every $10,000 you have saved, Michael Finke, professor of wealth management at the American College of Financial Services told the Wall Street Journal, adding. “If you're not paying attention, you're leaving a lot of money on the table.”Choosing the best savings account for your needs involves looking at more than just the advertised rate, though. You need to consider how you plan to use the account, how you prefer to bank and how much you plan to keep in savings.

If someone told you about an investment that has made some people millionaires overnight and has both a number of high-profile supporters and a global reach, would you be tempted to invest? If you were then told that the same investment also could lose most or all of its value almost overnight, and you might not have access to your money when you need it, how would it sound now?You've just confronted the debate surrounding the digital phenomenon known as Bitcoin — an alternative currency that exists strictly as digital code. Hi, I'm John Gigliello, CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group and you're listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.When it comes to Bitcoin, if you're wondering what all the fuss is about, I'm going to give you a brief introduction to Bitcoin, how it works, and some of the potential pitfalls it presents.

Accidents happen. They just do. Your foot slips and you press the gas pedal when you meant to brake. Your child hits a line drive through a neighbor's window during baseball practice.Your dog panics and bites a stranger.The question is: are you adequately prepared to handle these situations - specifically the economic consequences of these situations - when and if they occur?Hi, I'm John Gigliello, CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group and you're listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.Today I am going to talk about umbrella insurance and how it differs from the other insurances for which you likely already pay.What Is Umbrella Insurance?Umbrella insurance provides “excess liability insurance,” simply meaning additional coverage, beyond the liability insurance you already have in your auto, homeowners and/or watercraft insurance policies. Umbrella insurance kicks in for expensive situations where medical bills and/or repairs exceed what auto, homeowners or boat insurance policies will pay.Umbrella insurance is a good way to buy extra coverage to protect your assets. You can think of it as asset protection because it can prevent you from losing your assets while trying to pay for a lawsuit judgment against you.

Picture this:  Your wife or partner and you are driving along one day, rushing about to tackle the numerous errands you have planned for the busy morning.  Back home, your two daughters are working to finalize their plans for a birthday party for their favorite uncle.  Your errands take you all over town, and the Saturday morning traffic is starting to build.  And then suddenly, in the blink of an eye, your car is struck in the passenger side, t-boned at a busy intersection.  It all happens so fast; you have no time to think or react.  You feel pain throughout your body, and you manage to look over into the passenger seat.  Your wife is bleeding and not moving.  The last thing you remember before you pass out is the distant sound of an ambulance siren.    Your daughters arrive at the local hospital and are ushered quickly to the emergency room.  They find you in a condition that no one ever wants to see.  The doctors explain to your daughters the severity of your conditions and that some difficult decisions will have to be made regarding treatment.  He then asks, “Who has the authority to make medical decisions on behalf of your parents?”  The girls look at each other, confused, and ask the doctor, “What do you mean; what are you talking about?”  The doctor tells your daughters that there is a chance that your wife and you may never resume consciousness and that someone will have to make medical decisions on your behalf.  “Do your parents have a health care POA or a living will?” the doctor asks.  The daughters respond that they have “no idea” and have never heard of these types of documents.  In a heightened state of emotion, the girls look at each other and ask, “What do we do now?”Hi, I am John Gigliello, CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group and you are listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with people who are looking to make smart and responsible choices with their money. Only through education, action and accountability can you build the confidence and security you need to live a satisfying life.Today, I am going to talk about the 5 Essential Documents of a Complete Estate Plan.

The choices for Medicare coverage can be overwhelming and mistakes people make when choosing Medicare options can be costly for a lifetime. In this episode, CERTIFIED FINANCIAL PLANNER™ John Gigliello talks with local industry expert Chris Amorosi about  how to avoid the 5 most common mistakes people make when choosing a Medicare plan.

Interest rates have never looked better for savers. But you shouldn't put all your eggs in one basket, or in this case, CD.With the Federal Reserve's recent quarter percentage point rate hike, interest rates have reached a new high. At 5.25% to 5.5%, this is the highest the benchmark federal funds rate has been since 2002. This era of higher interest rates makes borrowing money expensive, but it can also make saving money lucrative. Interest rates may be near a cyclical peak, creating an opportunity for some to lock in higher yield savings. This could be especially important for retirees living on a fixed income who want the security of a guaranteed rate.Since rates are cyclical and are likely to decrease at some point in the future, I'd like to talk today about how you can capitalize on the higher rates while they last.Hi, I'm John Gigliello, Certified Financial Planner with the Albany Financial Group and you're listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.In today's episode I am going to address the upside of higher interest rates, particularly for those who have reached the retirement phase of their lives. The inspiration for this episode comes from a Wall Street Journal article, which addressed this very issue on April 18, 2023.

Making economic forecasts and stock market predictions can be humbling. It's especially tough when you expect stocks to go higher and get a big drop instead. The environment today is the opposite, but still tricky, as recession hasn't followed the chorus of predictions. In some ways, figuring out what to do now that stocks have gone up is as difficult as considering what to do when stocks are down. Today's more fully valued stock market is pricing in an increasingly optimistic outlook for economic growth and corporate profits, but the economy still faces challenges that will likely lead to slower growth in the second half — and perhaps even a mild economic contraction. So why stay invested?Hi, I'm John Gigliello, Certified Financial Planner with the Albany Financial Group and you're listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.In today's episode I am going to talk about why you should not try to time the markets.  First, it's difficult to time the market. We've seen this play out several times in just the past few years. For example, few foresaw the strong market rebound that occurred as we came out of lockdown in 2020, or that inflation would become the ongoing problem that we're still dealing with today. We saw it again this past spring – professional portfolio managers and investors alike were broadly pessimistic about the stock market, particularly in the wake of several bank failures. Yet, stocks have gone virtually straight up since. 

Inheriting a house can be a blessing. OR a curse. The difference is in the PLANNING as there will be tough emotional and financial decisions to make when the time comes.Hi, I'm John Gigliello, Certified Financial Planner with the Albany Financial Group and you're listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.Today I am going to talk about what it means to inherit a house and how that can affect your overall financial plan. The inspiration for this episode came from a recent Wall Street Journal article reporting that heirs are electing to rapidly sell their parents' homes, rather than to hold on to them for living, sentimental or income purposes.Leaving a home to children remains a common way to transfer wealth.More than three-quarters of parents plan to leave a home to their children when they die. This is according to a 2023 Charles Schwab survey of more than 700 American investors between the ages of 27 and 95, as reported by the Journal. Some children may be reluctant to sell for sentimental reasons, but finances and the simplicity of unloading a property often win out. Nearly 70% of those who expect to inherit a home from their parents plan to sell it, the Journal reported in the June 1st article. Deciding what to do with a family property is often both an emotional and financial decision, but currently the finances are ruling -- the rising costs of renovations, property taxes and utilities are making it harder for adult children to hold on to the real estate. Higher home prices and mortgage rates have often also made it impractical for heirs to buy out their siblings.The high home prices of the past few years have made the decision to sell even more attractive. If inheritors can sell a house in a hot real estate market for a high price, the proceeds from the home's sale can help secure their finances and fund other goals such as retirement.When you inherit a home, you have three basic choices:1.      Move in2.      Rent it3.      Sell it

The Setting Every Community Up for Retirement Enhancement Act of 2019, popularly known as the SECURE Act, was signed into law in late 2019.Now called SECURE Act 1.0, it included provisions that raised the requirement for mandatory distributions from retirement accounts and increased access to retirement accounts.But it didn't take long for Congress to enhance the landmark bill that was enacted barely three years ago.Tucked inside a just-passed 4,155-page, $1.7 trillion spending bill are plenty of goodies, including another overhaul of the nation's retirement laws.Dubbed SECURE Act 2.0, the bill enjoys widespread bi-partisan support and builds on SECURE Act 1.0 by strengthening the financial safety net by encouraging Americans to save for retirement.Here are 9 key takeaways.

Record high home prices and escalating mortgage rates are combining forces to put home ownership out of reach for some Americans.In fact, May of this year was the most expensive month since 2006 to buy a home, according to the National Association of Realtors' housing affordability index. The affordability index, which takes into account median existing home prices, median family incomes and average mortgage rates, was close to its lowest level since July 1990.This has caused some buyers to give up, while others sought alternatives to a conventional 30-year-mortgage to finance their home purchases.Some homebuyers are turning to Adjustable-Rate Mortgages, called ARMs, to finance purchases at a lower initial rate. While these introductory “teaser” rates may be appealing, an adjustable-rate mortgage may cost you more in the long run so it is important to read the fine print and consult with a trusted advisor.Today, we will look closely at Adjustable-Rate Mortgages and I will explain how they work and the reasons they might make sense for some people, but only with careful analysis and planning. Hi, I'm John Gigliello, Certified Financial Planner with the Albany Financial Group and you're listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.We are talking about adjustable-rate mortgages today because they are gaining in popularity right now, but they can be complex and require careful analysis.A house is the biggest purchase most people make in their lifetime, and one of the most important financial decisions you can make, so it is important to get it right.

The price of college keeps climbing. In fact, the cost of a bachelor degree at some of the most popular private universities now exceeds $300,000! The average cost of college in 2021 came in at $27,330 for in-state public schools and $55,800 for private universities, as reported by the college board. That is for ONE year of tuition, fees, room and board. But you don't have to sacrifice your own retirement nest egg to pay for your child's dream school for fear that his/her life won't be as rewarding.This is a time for parents to be realistic about what they can afford and for students to give serious thought to the value of a college education and where it will get them in life. Most important, an in-depth discussion requires families to sit down at the kitchen table and talk about money.The psychological barriers to this discussion can be huge. Parents often feel guilty because they haven't saved enough. They may think it's their obligation to pay for their children's college education because their parents paid for theirs.Children may think they shouldn't have to worry about where the money will come from. After all, they never had to worry about paying for things before and may want to preserve their childhood a little longer.Unfortunately, none of these attitudes will help get the FAFSA form filled out.Better to face the realities of college head-on now and use the experience as a lesson in financial planning. Hi, I'm John Gigliello, Certified Financial Planner with the Albany Financial Group and you're listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.This is the second episode in a two-part podcast series on College Planning. Last month, I talked about the 4 Keys to Cutting College Costs.Today, I will dive into the details of qualifying for financial aid and understanding the different types of loans, scholarships and grants available. By the end of these two episodes, I believe you'll be better prepared to meet late-stage college planning challenges. 

Colleges are priced like airline tickets. Everybody pays a different price. But at least on airlines, you might get a more comfortable ride if you pay more.  Paying a lot more could get you a first-class seat. Paying a little more could get you an aisle seat near the front or a seat on the exit row with better legroom. But if you pay a higher price for a college, you won't get any extra perks for that. Your child won't have smaller classes or be entitled to more face time with professors just because you paid more for a bachelor's degree than the parents of other students.There is no academic advantage to paying more. Worse, paying more can negatively affect your overall retirement plan, which is why it's even more important to cut your college costs. Here is a reality that will probably surprise you: most colleges are always on sale. That is a fact. Still, Americans owe more than $1.7 trillion in student loan debt. That's for 43 million borrowers, according to statistics released last month by educationdata.org.The average public university student borrows $30,030 to attain a bachelor's degree and 2.8 million people over the age of 60 are still paying off college loans.The growing cost of college and the resulting student-loan debt are affecting families all the way through retirement.It used to be that homeowners planned to pay off their mortgages and live out retirement debt-free.But a survey by national mortgage firm American Financing found that 44% of Americans between the ages of 60 and 70 have a mortgage when they retire. Nearly 17% think it's possible they will never pay off the mortgage. Why is that? For many families, it's the price of sending their child to a costly college.The problem that we're dealing with is that families often overpay for college, take on too much debt, and hurt their savings and retirement plans because they tumbled unprepared into the late-stage college funding pressure cooker.Hi, I'm John Gigliello, Certified Financial Planner with the Albany Financial Group and you're listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.You may be wondering, "Why is a financial professional up here today talking about college?" I do this as a service to my clients and my community because I've seen many families struggle with these issues. Getting kids through grade school and then high school is hard enough. You've been working and working, maybe saving for the eventual college tuition. Then, BOOM! Your kid is a junior or senior in high school and you realize you haven't planned enough. The costs of tuition, plus room and board, are higher than you expected. Stress increases as you receive piles of slick brochures from fancy colleges and hear your friends brag about where their kids are going.As we just discussed, this leads to poor decisions which may negatively impact your family's financial health for years, even decades, to come. I've seen that happen and I want to help you before you get to that stage. Your son or daughter can go to a good school, have a great college experience, and do it without saddling any of you with undue debt. I've seen that happen, too. 

Fifty years ago, in 1972, the price of a gallon of gasoline was approx.$.36 per gallon.  When I filled up my gas tank the other day, I paid $4.25 per gallon.  That's an increase in price of almost 1,100%.  Twenty-five years ago in 1997, a dozen eggs would have cost you $1.06.  Today, the average price for those same eggs cost $2.58 in New York.  That's an increase of 143% over those 25 years.  In March of 1997, the price of a one-day admission ticket at Disneyland was $39.75.  That same one-day admission ticket today will cost you $104.  That's an increase of 162%.  If it feels like your dollar doesn't go quite as far as it used to, you aren't imagining it. The reason is inflation, which describes the gradual rise in prices and slow decline in purchasing power of your dollars over time.The impact of inflation may seem small in the short term, but over the course of years and decades, inflation can drastically erode the purchasing power of your savings.Hi, I'm John Gigliello, Certified Financial Planner with the Albany Financial Group and you're listening to Invest in Knowledge, a podcast about all things financial.  After a life-altering health issue at 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money.  Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.Nowadays, everyone if feeling the impact of inflation.  But that's not all you should be concerned about.  Interest rates play a key role in efforts to fight rising inflation and today, I'm going to educate you about what you need to know about inflation, interest rates and recession.  Here's how to understand inflation, and steps you can take to help preserve the value of your money.

Do you struggle with the many different types of investment products available to the average consumer?  Have you ever felt that you needed to be a Wall Street veteran or have an MBA from Harvard to have a fighting chance of success with all of these different investments?  Well, you are certainly not alone.  The most common questions that I have consistently received over time revolve around the investment world and in particular, investment products.  In today's podcast, I am going to discuss two of the more common investment products available to the investing public, mutual funds and exchange-traded funds or ETFs.  And hopefully by the end of our show today, you will have a much better understanding of the two and how they might fit into your investment plans.  Hi, I'm John Gigliello, Certified Financial Planner with the Albany Financial Group and you're listening to Invest in Knowledge, a podcast about all things financial.  After a life-altering health issue at 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money.  Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.  This month's episode is about helping you to better understand two of the most basic, popular and misunderstood investment products available.    

Do you struggle with the basic concepts of our country's income tax system?  Do you cringe at the thought of filing your income taxes every year, hoping that you won't be audited?  Ever wonder why your friends get large refunds every year while YOU have to pay?  Well, you're not alone.  Millions of citizens are literally baffled each and every year by the progressive income tax system in the United States.  And I can't say that I blame them. According to the non-profit group The Tax Foundation, the IRC has approx. 9,000 pages covering statutes, revenue regulations and rulings.  Now I've been preparing taxes for the better part of 30 years and that intimidates even me!  Hi, I'm John Gigliello, Certified Financial Planner with the Albany Financial Group and you're listening to Invest in Knowledge, a podcast about all things financial.  After a life-altering health issue at 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money.  Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.  This month's episode is about helping you to better understand our country's income tax code in forty-five minutes or less and the original content has been taken from the Wall Street Journal's 2022 Tax Guide.  First, we'll take a look at the Big Picture where I'll discuss the basics of the tax system.  Then I'll move into the Bonus Section where I'll talk about such items as retiree tax issues, concerns for widows and widowers, education tax credits and a special section for first-time tax filers.  So, strap on your seats belts and let's take a quick ride through the tax code and remember that there will be a lot of content here, so it's okay to pull off at your favorite rest stop and take a little break when you need to.  Let's get started.  

Is there anyone you know that does NOT own a credit card?  Think about that for a moment.  Did you ever have a conversation with someone about general money matters and perhaps you were talking about a recent purchase of some interest?  And maybe then they replied with a purchase experience of their own, but mentioned that they either paid for the product or service with cash, check or they just postponed the purchase?  I'm guessing not very often….perhaps never.  Now I don't consider myself a well-connected person, but over my adult life I've met many, many people and have had many, many conversations about money.  And in all of that time, I've only met one person who did not own a credit card…..my mother-in-law.  Not that she couldn't have qualified for one, but she was just “old-school” whereby she either paid for something by check, cash or she just didn't buy it.  Now, I have a little different perspective on that.  I certainly understand her mindset and completely agree with the “if I can't afford it then I'm not going to buy it” way of thinking.  But I view the subject of credit cards, or more specifically credit, in a different light.  Just as a carpenter might use a hammer and plane or an artist a brush and acrylics, I view credit and the use of credit cards as a tool, to be used to one's advantage.  But just like a carpenter's hammer, credit can only be viewed as a tool if it is used properly.  More about that later in the show.  Hi, I'm John Gigliello, Certified Financial Planner with the Albany Financial Group and you're listening to Invest in Knowledge, a podcast about all things financial.  After a life-altering health issue at 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money.  Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.  Our topic for this podcast will be on credit card rewards strategies and how to maximize benefits.  By the end of our show, you will have a much better understanding of the types of credit card rewards and how they are generated, how rewards are earned through regular spending, the proper use of sign-up bonuses, implementing credit card strategies and how credit cards can generate thousands of dollars in cash and travel rewards annually.  

Nearly 2/3 of Americans rate money and work as significant sources of stress in their lives, according to the American Psychological Association.And because money is such a common source of stress, as well as a difficult or uncomfortable topic for many to discuss, we often tend to minimize the stress by avoiding consciously thinking of how we use money. (Just think about all of the cash-free forms of payment people use today). But people who don't retain at least some awareness of their spending may subconsciously base their money decisions on other people's behavior, instead of consciously making choices based on their own personal values and priorities.Hi, my name is John Gigliello, and I am a CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group and you are listening to Invest in Knowledge, a podcast about all things financial. Happy New Year everyone and welcome to 2022!As a financial planner, my goal is to educate my clients and listeners of this podcast, so that YOU can take control of your financial future.  My Mission Statement is simple: “Helping clients to live their lives by design and not by default”You may be wondering, "Why is a financial professional talking about psychology and conscious and subconscious ways of thinking?”  Well as it turns out, there is a lot of psychology in how we make, save and spend money.The lack of spending awareness can have a huge impact on your finances in both a short and long-term way.  What I'm about to present in this podcast could help you to make more mindful spending decisions and help ease the stress of managing your money.  Now, a lot of what I'm going to discuss during the first part of this podcast is taken from an article written by Derek Hagen, Founder of Money Health Solutions, a financial therapy and life planning firm.  He discusses how folks can develop a Financial Purpose Statement to use that helps them examine their relationship with money and their most meaningful goals.A  person who pursues goals and makes financial decisions that are based on other peoples' values, instead of acting on their own values, can result in living a life that the person may think they're supposed to live (as determined by others), rather than one that would actually be more likely to make them happy. The number one regret for most people who are close to death is that they've lived a life that someone else wanted them to live, instead of the life they wanted to live. 

What we've found over the years is that when people go through the generational planning process, they experience two things: The first is great relief that it is done. The second is new excitement and renewed energy to focus on the non-financial aspects of generational planning.This is the reflective part. It's not legal and it's not business. It's the part where we get to look back on our personal journey and share the stories that we carry in our hearts. This is our gift to the next generation. They may be words or stories, pictures or actions. They may provide hope. They may provide healing.But just as important are the things we say and do that bring US meaning because we realize that WE are the carriers of wisdom for our family. And from generation to generation, each of us is a link in the chain that binds our families together. And that link is the mark we leave—our legacy.One of the reasons people don't get around to estate planning is that the task seems too overwhelming and they don't know where to start. My name is John Gigliello, and I am a CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group. You are listening to Invest in Knowledge, a podcast about all things financial. As a financial planner, I aim to educate my clients, and listeners of this podcast, so that you can take control of your financial future. You may be wondering, "Why is a financial professional talking about legacy planning for the generations?" Well, I do this as a service to my clients and my community because I've seen some difficult, unhappy situations when families don't think about these issues. When no legacy planning is done, we see a range of unhappy outcomes that often impact multiple generations. In this episode, I break legacy planning down into Six Parts that will help you to control the narrative of your life.

Have you ever thought about where you might be in the next 5, 15, 25 years?  I mean really thought about it….so much so that you actually carved time out of your busy day, put pencil to paper and recorded your thoughts in a notebook or journal.  And I don't just mean where you might want to be physically, mentally or spiritually but, financially as well.  I'm guessing not too many people are raising their hand. For those of you who are, congratulations!  You are in the vast minority.  To be honest, way back when, I wouldn't have had my hand raised either.   Hi, I am John Gigliello, a CERTIFIED FINANCIAL PLANNER™, with the Albany Financial Group here in Albany, NY and you are listening to INVEST IN KNOWLEDGE, a podcast about all things financial.In this episode, I will be discussing some things you can do to shape up your personal finances for a great year-end.  The Fall is an ideal time to examine your financial health and update your financial plans.   Also as an added bonus, I'll let you know at the end of the show how you can contact my office to get a free copy of the LAST CHANCE FINANCIAL PLANNING CHECKLIST, that will help you to organize the numerous items you should really be thinking about before year-end.   Now, I don't know about you, but I just love this time of year.  The humidity disappears and the cooler weather starts to settle in.  The leaves are turning color and you start to settle back into that routine that seems to have disappeared over the Summer.  My family and I make it a point to go apple picking every year and you just can't beat those cider donuts, can you?   And that brings us to the heart of why we are here today; It's time to get organized again and think about year-end planning.  No matter your age, I feel you can benefit from what I'm going to discuss today.  I have 6 areas of personal financial planning that I want to discuss and instead of bouncing all over the place, I want to try to follow these in a check-list type of manner.  This will then coincide with the planning checklist I mentioned earlier in the show.   

Two seconds…That's how often someone becomes a victim of identity theft. Last year, there were more than 14 million victims of identity theft and fraud. Are you one of those 14 million? Has your personal information been exposed in a data breach or hack?The statistics say, “Most likely.” New threats are exposed every day. Even as we sit here now, a vast array of cyberattacks are pounding at the walls of security networks built to protect you and your digital persona on the Internet. And what I'm going to say next sounds a bit dramatic, but it's completely true: A world of dark forces and criminal networks conspire day and night to steal your username and password, obtain your Social Security number, open credit cards in your name, drain your bank accounts, and seize your computer to hold it for ransom.The authors of the book Cybersecurity and Cyberwar contend that a cyber world war is underway. And we're all involved.

·         Am I at risk of a cyberattack?·         What can I do NOW to save taxes next April?·         Does it matter if I have assets in my name vs my child's name for financial aid purposes? ·         Is a Roth IRA a good idea?  What should I invest in? ·         Should I be donating stocks and bonds instead of cash for my charitable contributions? ·         Why should I contribute to my company's 401(k) or other retirement plan? Confusing, isn't it??  Well, these are just a few of the financial topics I will discuss in my new podcast – INVEST IN KNOWLEDGE. Hi, I'm John Gigliello, a CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group, in Albany, NY and beginning in October 2021, I invite you to listen and subscribe to my monthly podcast about all things financial.Now I know a financial planning podcast is nowhere near as exciting as The Joe Rogan Experience or Crime Junkie, but as a financial planning professional, my goal is to educate, so folks have the knowledge they need to create a vision for their financial futures. Once they have that vision, I help them to create a comprehensive financial plan to move them from where they are today to where they want to be in the future. Oh, and by the way, we have some fun too!  I promise to make it all lively and entertaining.  Now this podcast is for anyone who is interested in expanding their knowledge on financial matters.  Even those do-it-yourselfers can learn something here.  Don't forget to subscribe and then tune-in in October for my first episode – Savvy Cybersecurity: How to Protect Yourself Now.