Smart Money Questions

What's all the buzz about the “Big Beautiful Bill?” With many current tax provisions set to expire at the end of the year, there's a lot of noise, but very little that's finalized. Matt walks through the latest version of the Senate proposal, what it could mean for taxpayers, and why the only smart move right now is to stay informed and stay patient. He also highlights a thought-provoking article from The Wall Street Journal that shows how politics are increasingly influencing investment behavior- and not in a good way.   Here's some of what we discuss in this episode:

The headlines are loud, the markets are messy, and your gut might be telling you to do something., anything, right now. But what should you actually do when your portfolio takes a hit? In this episode, Matt talks about recent market volatility and reminds listeners why reacting emotionally can cost more than staying the course. He shares stories from client conversations during the dip, explains the dangers of market timing, and reveals just how much the media benefits from our panic. Here's some of what we discuss in this episode:

Selling your home and relocating in retirement is both an emotional decision and a financial one. Today's real estate landscape adds in another layer of complexity, especially for retirees. In this episode, Matt shares insights from working with four different clients who are each navigating the complexities of selling, buying, or relocating. Here's some of what we discuss in this episode:

As we dive into the heart of March Madness, the excitement of college basketball isn't the only thing making headlines; the financial markets are also experiencing their own form of madness. In this episode of Smart Money Questions, Matt breaks down the latest market volatility, tax season updates, and investment strategies to help you stay informed and confident in your financial future.  Here's some of what we discuss in this episode:

Today we want to cover some timely discussions that we've had with clients recently, ranging from savings strategies and debt management to tax refunds and credit card spending. Good saving and spending habits are developed over time, but these seemingly small routines can make a huge difference in retirement.   Here's some of what we discuss in this episode: Why it might not be a good idea to take money out of an IRA and into a high-interest savings account. Should you pull money out of savings or investment accounts to pay off debt? Why you shouldn't be excited to get a big tax refund. Should you change your tax withholdings throughout the year? Using credit cards to pay for as much as you can, especially when traveling. Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

Everyone wants to get advice or guidance when it comes to investing, and a recent Wall Street Journal article featured ten different experts' predictions for 2025. It made for an interesting read and provided some interesting discussion for this month's podcast. Today we'll take a look at a variety of strategies in play for 2025—from focusing on large-cap growth stocks and diversifying beyond the “magnificent seven” tech giants to some experts advocating a complete shift to bonds. Beyond investment strategies, we also want to spend a little time sharing practical financial planning tips for the new year, including setting clear financial goals, optimizing retirement contributions like 401(k)s and Roth 401(k)s, and essential considerations when relocating. We hope you enjoy this look ahead to the new year. If there's anything you want to focus on and improve, please get in touch and let's talk about ways we can help. Here's some of what we discuss in this episode: Be wary of what you see from articles trying to predict the future when it comes to finance. Should you expect additional volatility this year? Things to consider when thinking about moving or relocating. Why snowbirds need to be considering some similar things to folks that are permanently moving.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

As we close out 2024, we can look back on a good year highlighted by the transition to a new office. Hopefully you've also enjoyed a great past twelve months, but now it's time to shift focus on smart financial planning for the year ahead. In this episode of the Smart Money Questions podcast, Matt shares actionable strategies to refine your budgeting, transition smoothly into retirement, and maximize tax efficiency. Here's some of what we discuss in this episode: ✅ The importance of understanding your monthly expenses (necessities, lifestyle, and legacy goals).

As we approach Thanksgiving, it's hard to believe that 2024 is nearly behind us. With the end of the year comes a lot to look forward to- family, food, and of course, football. But there's also another reason to celebrate this holiday season: the election is finally over. Now that the election results are settled, the big question on everyone's mind is what comes next for the markets, Social Security, Medicare, and taxes. In this episode, we dive into what we can expect in the coming months and how these changes might impact our financial future. Here's some of what we discuss in this episode: How market performance tends to play out during election years Why it's so important to be diversified in your investments Avoiding fear-driven reactions to market headlines What's going to happen with Social Security and Medicare? Being mindful of what media we're consuming The impact of decreasing interest rates   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com       Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

It's a different type of episode this time around, as we welcome long-time football coach Mike Ricci to the show. Mike coached football at Garnet Valley High School where he built a powerhouse football program before his retirement from the field. Now, Mike has his own business where he helps companies reach their goals as an organization much like he helped so many young people reach their goals both on and off the football field.   Here's some of what we discuss in this episode: What got Mike interested in coaching and teaching. How was Mike able to build and maintain his principles during his 38-year coaching career. Using the role of head football coach to help families and the community. Laying the foundation for success. How building success on the football field translates to success in the business world.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com       Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

There's a lot of anticipation surround the Federal Reserves meeting this month, and their decision on interest rates will have an impact across many different areas of financial planning. There's a lot going on right now that impacts the discussions we have in our office, and we're bringing some of that to the podcast today. Join us as we share an in-depth analysis of the current economic indicators and what they might mean for your savings, investments, and overall financial strategy. Plus, we'll offer some guidance for anyone facing decisions about pensions and lump sum offers and make sure you understand the potential pitfalls of transferring property without consulting an estate planning attorney.   Here's some of what we discuss in this episode: Why the Federal Reserve's meeting this month is important. How rate cuts impact savings, investing, and retirement planning. Does it make more sense to take monthly pension payout or take the lump sum? How the interest rate environment impacts the lump sum opportunity. Before you deed your home to your children, you need to speak to an estate planning attorney.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

We always like to use this show to share some of the conversations we're having with clients and the topics that are being discussed in our office. Today we have three important ones that have popped up multiple times recently and that's life insurance, tax planning, and legal documents.   Here's some of what we discuss in this episode: What opportunities you might have with a life insurance policy in retirement. Ways that you can reduce taxes and keep from paying more than you need to.   Always being aware of the different buckets of risk is extremely important. Which legal documents do you need to have and what should you be reviewing?   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

We've reached halftime for 2024 and it's the time of the year when we like to check up on the finances with clients. Today we want to walk you through the conversations we're having and the topics we're covering in the office. This episode is packed with both entertaining summer stories and crucial financial advice that you won't want to miss.   Here's some of what we discuss in this episode: Mid-year tax planning is important so what moves should you be considering? Make sure wherever you are working, that you understand all of HR benefits. How is AI going to potentially change the investing world?   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

It's been a busy few weeks for us with a couple concerts and a trip to Florida to visit Maggie's mom, and it was during that trip that we met someone who got us thinking about the theme for this month's show. Today we'll share that intriguing conversation we had with a retiree in Florida who was fearful about the future of the economy and the dollar, which sets the stage for a deeper discussion on financial planning and investment strategies.   Here's some of what we discuss in this episode: The story of a person we met on a trip who told us all about his worries for the country and why he was buying gold. Let's look back at the different presidencies over the last 50 years. Fear sells and we've seen this story many times before. The different assets you can diversify with if you do have concerns.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

We met recently with a young client who was just getting started and wanted to learn more about investing. They were so eager to get a jump on the finances and figure everything out. Today we're going to share insightful anecdotes from this recent meeting, where we talked about the underlying principles of planning, highlighting the importance of understanding risk, diversification, and keeping a long-term outlook.   Here's some of what we discuss in this episode: Investing should feel more like watching paint dry. How you should view risk and apply that to your investment strategy. The way we explained diversification to a novice investor. Understand your time horizon and structure your portfolio to align with that. What should you do with a QDRO disbursement after a divorce? The best account options for independent contractors to use.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

This week on the Smart Money Questions podcast, Matt Hausman tackles the big question: Will you be okay after retirement? With a blend of financial expertise and real-life examples, we'll share a Wall Street Journal article outlining the financial mistakes to avoid as you get within five or ten years of retirement.   Here's some of what we discuss in this episode: You always want to have cash on hand because unexpected expenses can pop up at any time. Maximize your retirement contributions to what your budget allows. Understand your Social Security options, especially if you are married. There's good debt and bad debt, but don't take on unnecessary debt. You shouldn't be investing your money as if you're 25 or 30. Pay attention to what you're spending on children and grandchildren.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

Life insurance is a product we get asked about all the time as people are trying to determine if they need to hold on to an old policy or even bother getting one at all. We get this question all the time and there have been a couple different scenarios come up recently that we wanted to bring to the show. So we'll address those and go through the reasoning behind what we've discussed with clients. As of the end of March, we will no longer be at our current location. We are getting close to securing our new permanent location, which will hopefully be done in the next few weeks. In the interim, we're going to be operating at 101 Lindenwood Drive in Malvern, Pennsylvania. Everything else will stay the same in terms of contacting us   Here's some of what we discuss in this episode: Scenarios where single clients do need life insurance and don't need it. A strategic look at the role of life insurance in income protection where age and health are key players. The different ways life insurance could be utilized to provide income protection. Tax considerations when you're looking at survivorship planning. Using life insurance to transfer wealth.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com

What can we expect or what has the market done with regards to returns during presidential election years? After talking with clients the first couple of months, it's clear that this is going to be a crazy year. That's not uncommon during election years but this one seems to be setting up for unprecedented craziness.   Here's some of what we discuss in this episode: An update on a quick trip we took to Sarasota. Returns for every presidential term since 1928 and what it shows us. What does it mean for retirement if you sacrifice earnings for more work-life balance? What can you do to meet your retirement goals while also finding that balance? The health insurance opportunities that you can take advantage of.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

Everyone wants to know. What is going to happen in 2024? Join us as we explore a range of topics, from the outlook of the economy, a potential tax surprise for a lot of people, and some new provisions that will take effect this year. We'll give you a high-level look at what we're paying attention to and what we're discussing with our clients as the year begins. There's plenty to address within your financial plan and this episode will cover a number of those things.   Here's some of what we discuss in this episode: Will the economy be up or down this year? Is lazy money still a problem when we have high interest rates? The 1099 interest might catch a lot of people off guard at tax time this year. Certain provisions will take effect from the SECURE Act 2.0 this year. Take time to look into your legal documents and make sure everything is in order.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

We're coming down to the final few days of 2023 and we hope you have all enjoyed a good holiday season. As we close out the year, we wanted to go over a couple of client conversations we had recently dealing with small businesses and the power of money.   Here's some of what we discuss in this episode: How should business owners balance saving for retirement and putting money back into the business? What are some consistent financial habits you can create as a business owner? Reviewing opportunities for Roth conversions. Managing an inheritance and how to pass it along to your children.     Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

It's hard to beat this time of the year with the holidays and everything that comes along with it, and we hope that you enjoyed a wonderful Thanksgiving. We have a lot to be thankful for and hope you do as well when you look back on this year and what's to come in 2024. Today we want to go over a couple of meetings we've had recently with clients who had needed to address some specific scenarios. In each of these scenarios, we'll share the process we went through and the different options we considered before helping them determine the best path forward.   Here's some of what we discuss in this episode: What should you do with the extra money each month once your mortgage is paid off? Why it might make more sense to pay off your mortgage now if you have the extra cash. Changing from a joint tax filing to a single filer and is it worth staying in a marriage for.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

As we close in on the final two months of the year, there's a lot happening now and plenty to look ahead to for 2024. That's what we want to spend some time on today by sharing some of the discussions we're having in our office and some of the questions we're answering from clients in this final quarter of the year. This includes open enrollment, world conflicts, and financing a new home.   Here's some of what we discuss in this episode: The different open enrollments and what you need to know. Understanding the different parts of Medicare. Does the market overreact to world conflicts? Working through a situation with clients about moving into a new property.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com      Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

Last month, we held an educational event and covered a lot of important information. We even featured estate attorney Jennifer Walker, who talked about the estate planning do's and don'ts. It was a great event and we appreciate everyone that came out. Because we went over a list of key planning items for the year, we wanted to provide all of that information and education for you on the podcast. So this show will be go over all of that today, which should be very helpful for anyone thinking about what they need to do before the year ends.   On today's show, here's some of what you'll learn: We'll go over the recently signed SECURE Act 2.0 and the impact it has on inherited IRAs, catch-up provisions, RMDs, and retirement account opportunities. The estate do's and don'ts that Jennifer Walker shared with us. The current tax code will sunset in the end of 2025. We'll tell you why there's a good chance your taxes will go up. The current investment climate this year and what it might look like moving forward.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com    Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

As we move beyond the mid-point of the year, we always take this time to have a check-up with clients to run through a number of items that might need attention before the end of the year. Today we'll share a few of those things, including budgeting, Roth contributions, and SECURE Act 2.0 changes. Then we'll spend some time running through a few different scenarios we've helped clients out in recent weeks.    On today's show, here's some of what you'll learn: Is a Roth IRA or Roth 401k actually a bad investment option? Let's breakdown a recent article we found. A list of items to be paying attention to before the end of the year. Is it a good idea to help out your child and their boyfriend/girlfriend with a house down payment? Here's what you should address. Should you keep your mortgage in retirement for the tax deduction? The financial topics that create tension for couples.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

Hard to believe we're already into July but we've had a great summer so far. Hopefully you've been making the most of the warm weather and longer days. Today's episode isn't a long one but we wanted to take a little time to update on what's going on at Old Security Group and talk about some of financial topics we've been paying attention to.      On today's show, here's some of what you'll learn: Details on our upcoming client educational event (1:04) We've been hearing from people about investment scares  (5:46) Why an HSA is considered a hidden gem in investing.  (8:17) 2 ways we advise clients to use an HSA  (10:51) How to invest when worried about a recession (14:19)   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

Today we have a special guest. My 21-year-old daughter Ashley and I have been talking about doing this interview for several months. We want to share the importance of personal finance and personal finance education. My wife and I constantly talk to our kids about this topic, including behavioral finance, so we are excited to share this episode with you!    On today's show, here's some of what you'll learn: What has Ashley been doing the past few years? (2:23) How Ashley budgeted her money. (6:03) How Ashley started investing. (10:56)   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

We're covering several important topics today derived from client questions and concerns. Given the relevance of today's questions, Matt thought you'd like to hear these answers as well. Join us as we touch on the recent events taking place in the financial sector and explore actionable steps that we can take to help set up our heirs for success.   On today's show, here's some of what you'll learn: What's been in the headlines about bank failures? (4:26) What's happening with the debt ceiling and market? (7:25) Is your estate plan in order? (9:08)   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/             

We met with a new client recently and looked at a snapshot of their financial situation. One of the things we noticed was their outstanding debt, including credit cards and car loans. The client wanted to take about $40,000 to $50,000 out of their 401k and take a financial hit in order to pay down that debt. Is that a good idea? We'll share what advice we gave them and how you can handle a similar situation. Join us for an insightful conversation about relocating, extinguishing your debt, and more.   On today's show, here's some of what you'll learn: Should I take a hit on my 401k to pay off debt? (4:24) Look for opportunities with your home equity line of credit. (7:24) How to extinguish your debt. (10:57)  If you are interested in any of the topics we discussed, please reach out and we would be happy to help you navigate your financial situation.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

We have a lot to talk about today, so let's jump into it. We read some articles recently about the travel industry and how people are getting back out there and traveling. Many of our clients have been doing some big trips. If you want to travel and get deals, we'll share some insight on that topic. You'll need to think about advanced planning and figure out how you'll pay for the trip. We'll also discuss banks and what to do with your cash. On today's show, here's some of what you'll learn: How to plan travel and get deals. (7:00) Why you should be checking your bank on the heels of the Silicon Valley Bank failure. (12:06) The reality of home values. (19:10) Should you push back your retirement date if you haven't figure out much of your planning questions? (25:14) A horror story about why you need to do tax planning before doing a Roth conversion (28:48) Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

On this episode of Smart Money Questions, we'll be discussing one of the most pressing concerns for retirees: taxes. As you prepare for retirement, it's important to consider how your income sources will affect your tax obligations, and to plan accordingly. Whether you're transitioning into retirement or already retired, taxes can have a significant impact on your financial well-being. Matt has spent years helping clients navigate the complex world of retirement planning, and he's here to answer some of the most common questions he receives about taxes. You'll learn about the best ways to handle your tax payments, and what to do if you retired halfway through the year on W2 income. One of the biggest concerns for retirees is the prospect of giving up a high-paying job for a significantly lower retirement income distribution. However, Matt will explain how the tax advantages on retirement income can make this a positive decision for most clients. We'll also delve into the concept of "golden handcuffs" and how it can create a vicious cycle for those who stay at their job too long to get an end-of-year bonus. Finally, we'll explore the most popular topic of the past two months that clients want to address: Roth conversion opportunities. Matt will break down the various options available and explain how they can benefit retirees. Whether you're a seasoned retiree or just starting to plan for retirement, this episode is packed with valuable insights to help you make informed decisions about your taxes and your finances. On today's show, here's some of what you'll learn: Whenever a client is transitioning into retirement, they're always wondering what they should do with taxes. They're curious about how to handle monthly payments vs. bi-weekly salary checks. They also are often confused about what to do tax-wise if they retired halfway through the year on W2 income and lived on retirement income the rest of the year. (6:40) Some retirees are surprised by the need to pay taxes quarterly. Matt describes how he walks clients through the best ways to make these kinds of payments. (9:57) It can be difficult for many retirees to envision giving up a high-paying job for a significantly less retirement income distribution. However, Matt says that most of the time it's a good prognosis for clients because of the tax advantages on the retirement income dollars. (11:50) “Golden handcuffs.” Matt details another issue clients face where they might stay at their job too long to get an end-of-year bonus. It can create a vicious cycle. (15:00) The past 60 days, questions from clients have been coming in about Roth conversion opportunities. Matt breaks down the options. (17:52) If you are interested in any of the topics we discussed, please reach out and we would be happy to help you navigate your financial situation. Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

As we begin a new year, let's talk about the SECURE Act 2.0, which was signed into law in December. We'll share some of the highlights, including new requirements for companies with new 401(k) and 403(b) plans. Did you know that companies can automatically enroll their employees into these plans? We'll explain this along with some other key changes to RMDs, retirement accounys, and other planning items.     On today's show, here's some of what you'll learn: How the minimum distribution age changed. (5:58) What happens if you miss your minimum distribution? (7:35) Why there's a drastic increase to catch-up contributions. (9:53)   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

Today we're joined by Robert Khoury, the founder and CEO of Agile Rainmakers, a high-impact business development consulting and advisory firm based in Chicago's Gold Coast.    Robert's 20+ year career in the financial industry has seen him in many roles: an equity derivatives trader, portfolio manager, corporate strategist, chief operating officer, recruiter, hedge fund executive, and private equity investor. Today he's sharing his expertise about internships and how they can help people discover the right career.   On today's show, here's some of what you'll learn: How you can use internships to further your progress. (4:19) What kinds of internships do people typically choose? (8:46) When should you look for internships? (16:02)         If you are interested in any of the topics we discussed, please reach out and we would be happy to help you navigate your financial situation. https://www.agilerainmakers.com/ Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com   Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

We love to talk on our show about different scenarios and questions we hear from clients in our office, and the topic of annuities and life insurance has come up quite a bit in recent weeks. You won't find a lack of opinion on either of these two products and they both can get a little complicated.   On today's show, here's some of what you'll learn: What should you do with an older annuity? (4:36) How should you handle an enhanced death benefit option? (8:56) How should you handle life insurance when your spouse is much older or younger? (12:13)         If you are interested in any of the topics we discussed, please reach out and we would be happy to help you navigate your financial situation.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com   Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

There has finally been some clarification from the IRS about the SECURE Act rule regarding inherited IRAs from 2020 and beyond. We've had some questions from clients about this, so it's great to finally have some answers. It's important for you as an owner of an IRA, 401k, etc. to know how this works and understand it. It's also important for your heirs to understand this important topic and know what tax bracket they might be in.   On today's show, here's some of what you'll learn: What happened with the SECURE Act's stretch IRA? (4:16) How did the government create confusion? (7:03) What happened to the minimum distribution age? (11:27) https://www.wsj.com/articles/irs-delays-new-guidelines-for-inherited-iras-11665182415 Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com   Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

If you're wondering what taxes will look like in 2023, as far as standard deductions and increase in tax brackets, today's show is for you. The IRS just released this information recently and we want to take you through the key changes. Whether you're filing single or married filing jointly, we'll explain what will will be different for you next year. Check out today's full show to learn more about how the IRS changes could affect you as you make an tax planning moves before the year closes out.   On today's show, here's some of what you'll learn: What adjustments should you make to prepare for tax changes in 2023? (2:06) Why you should be an aggressive investor. (4:20) Should you take a Roth option at work? (8:08)   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com   Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

We get questions all the time about Medicare. It can be confusing when there are Medicare parts A, B, C and D and supplements. Today we are welcoming a guest who has been in the Medicare industry for more than 30 years.   On today's show, here's some of what you'll learn: What Medicare is and how it works. (2:58) How you can access Medicare. (3:42) The different aspects of Medicare and how they work. (4:13)   Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

Choosing when to claim Social Security can have a huge impact on your retirement plan. A lot of people are unsure about whether they should delay Social Security or take advantage of another significant COLA increase. Today we are going to look at some of the different options you may have and narrow down the reasons they may or may not be for you.   What we discuss in this episode:  Do you time the market or do you time Social Security? (2:21) Do you qualify for spousal benefits? (5:28) Social Security has a guaranteed interest rate for delaying. (7:31) If you are going to delay Social Security and not work, what other assets are you going to depend on? (10:29)   For more, visit us online: https://smartmoneyquestions.com/ 

We're bombarded with headlines about money all the time. With technology and social media at our fingertips, it's more important than ever to control how you react to that. We'll explain why it's critical to your long-term financial success.   What we discuss on this episode:  2:10 – Financial headlines are everywhere 5:10 – Invest like the 1% 6:08 – Become a master of the market 8:37 – Protect nest egg 9:31 – Playing on fear   For more, visit us online: https://smartmoneyquestions.com/ 

Recently, we've been getting some unique questions about investing in company-sponsored plans, like a 401k, for example. The client wanted to know where else to invest once they max out the 401k. We'll dive into this question and more on today's show.   What we discuss in this episode:  2:23 – Max out 401k 4:53 – Be consistent 5:44 - Match 8:04 – Vested 9:49 – Saving more 11:38 – Health insurance 14:34 – Traditional brokerage   Visit us online: http://smartmoneyquestions.com 

If you decide to scale back your work or keep working during retirement, what kind of employee should you be? We'll explain the differences between W2 and 1099 workers and how that could affect your finances.   Key Topics on This Episode:  4:50 – Scaling back workload 6:24 – W2 vs. 1099 worker 9:39 – Contributions 11:38 – Payroll taxes 13:48 – Buying real estate 16:18 – Property management 17:22 – Where to buy 18:50 – Long-term investment   Want to learn more about financial planning? Visit us online ---> http://smartmoneyquestions.com  

Today we're sharing questions and scenarios we're hearing in our office, on the phone and on zoom calls with clients. We'll also share some planning we did for a client four or five years ago and where they are today in retirement.   Key topics on this show: 4:43 – Aggressive 401ks 7:59 – Other options 11:00 – Know where your money is 13:51 – Risk 15:29 – Rate of return 16:27 – COLA   Want to learn more about financial planning? Visit us online ---> http://smartmoneyquestions.com  

It's hard to believe, we're already halfway through 2022. Before you know it, it's going to be Thanksgiving and then the end of the year. Now is a good time to be considering your finances and planning for your taxes.   Key topics on this episode:  2:42 – Roth conversions 6:13 – Personal changes 8:19 – Review investments 10:11 – Tax diversified 11:09 – Review debt 12:59 – Budget 14:02 – Emergency funds 14:32 – Legal documents   Get additional resources online: http://smartmoneyquestions.com 

The markets have been heading down, but this is one of the most critical times for investors to stay disciplined. Markets will go up and they will drop, and we'll explain why you have to be prepared to stay the course and find opportunities.   Read more and get additional financial resources here: http://smartmoneyquestions.com    What we discuss in this episode: 3:35 -  Don't panic 4:14 – Tax-loss harvesting 5:51 – Tax buckets 8:46 – Roth 12:00 – Your investment mix

Is your 401k invested using target-date funds? If so, you could be getting hit harder during these tough economic times. We'll explain why. We're also talking cars in this episode and our thoughts on leasing versus buying a new or used car.   Read more and get additional financial resources here: http://smartmoneyquestions.com    What we discuss in this episode:  3:20 – Wall Street Journal 9:38 – Investment options 12:14 – Leasing vs. buying cars 13:32 – Coming to the end of a lease 16:32 – Buying a car

A recent study found that the average American needs to save $1.04 million for a comfortable retirement. That's one of the many fascinating statistics shared in the study. Join us as we share more of the findings and talk about how most retirees stack up.   See the statistics: https://www.annuity.org/retirement/retirement-statistics/    Read more and get additional resources here: http://smartmoneyquestions.com    Listen for these key topics:  2:37 – Savings expectations 7:15 – Delaying retirement 9:41 – Increasing savings 10:16 – Social Security 14:07 – Health care 15:26 – Where will you live?

Should you take out a 401k loan to pay off your debt? And does it matter what the kind of debt is? Today we're going to tackle this common question and more to help you figure out your finances.    Read more and get additional financial resources here: http://smartmoneyquestions.com    Listen for these key points:  2:20 – 401k loans 5:16 – Exhaust other options 10:05 – Selling property

If you're getting close to retirement, you may be envisioning what that next chapter will look like. A question that always comes up is how much money will you need to make? Some people feel like they should be bringing in more money during retirement, but is that smart? Let's dive into that discussion on today's episode.   What we discuss on this episode: 2:27 – Bucket list years 5:40 – Where's the money? 6:57 – After bucket list years 8:39 – Go through the process 9:15 – Medicare   Read more and get additional financial resources here: http://smartmoneyquestions.com   

Today we're answering a few of your questions about financial planning. Should a dentist sell his building and his business? What should you do with life insurance money? We'll discuss these topics on the show.      Read more and get additional financial resources here: http://smartmoneyquestions.com    What we discuss in this episode:  3:24 – Renting building 6:29 – Investing cash 9:43 – Life insurance 12:53 – Moving forward

We came across an article about murky areas people don't have clarity on when it comes to retirement planning. We'll explain what those are and how to make sure you understand your retirement plan.   Read more and get additional financial resources here: http://smartmoneyquestions.com    What we discuss in this episode:  3:02 – USA Today article 4:13 – Inflation 6:55 – Social Security 9:00 – Withdrawal rate 13:21 – $1 million 14:43 – More murky areas 16:56 – Long-term care 19:48 – 401k investment options

We had a great conversation with the daughter-in-law of one of our clients. She and her husband recently had a child and she wanted to think about additional planning as far as investments. Here's how we helped her prioritize her finances.   Read more and get additional financial resources here: http://smartmoneyquestions.com    What we discuss on this episode:  4:06 – Babies and finances 5:57 – Take advantage of benefits 8:23 – Disability insurance 10:42 – Budget for retirement investment 13:26 – Good debt and bad debt

On today's episode, we're answering questions we've gotten from clients, podcast listeners and others about all things finance. Find out how to prepare financially for an impending divorce and more.   Read more and get additional financial resources here: http://smartmoneyquestions.com    What we discuss in this episode:  4:21 – Preparing for divorce 7:27 – How divorce will affect retirement 8:17 – Do nothing 10:10 – Be your own advocate 11:07 – Company stock 12:34 – Picking stocks

On today's episode, we're taking your financial questions. Find out how to help an elderly parent with their housing, whether you can retire early and more.   Read more and get additional financial resources here: http://smartmoneyquestions.com    What we discuss in this episode:  3:31 – Mom's house 7:48 – Retire early 10:07 – Health insurance 14:16 – Starting a business