The Wall Street Sweeper

Fall is often a volatile time of year and this Fall we're going in after a bumpy end to the summer. Russ talks about what's caused markets to go back down, and ways you can create “safe money.” Connect at HackmannWealth.com.

“When can I retire?” is a top Google search. Russ points out that “Can I stay retired?” has become the new follow-up question and why getting a 2nd opinion is one of the best ways to find out. Need a savings plan review? Visit HackmannWealth.com.

When it comes to estate planning, many of us are unsure about what to do. Russ explains how a financial advisor can, and should, help you factor these details into your overall plan. What will your legacy be? Visit HackmannWealth.com.

Most financial professionals have changed their approach to retirement planning in the last year. Russ explains adjustments his team has made to align with what their clients are asking for, and why you should consider the same requests. Does your plan align with your goals?  Visit HackmannWealth.com.

Interest rates went up another ¾ of a point and more hikes are expected. As the Fed works to correct inflation, Russ talks about how those who plan to retire in the next 1-5 years are facing some unusual risks. Want more protection on your savings? Visit HackmannWealth.com.

There are many places to go when seeking a financial advisor. Russ talks about differences between advisors working for big banks, versus those who are independent. Seeking some advice? Visit HackmannWealth.com.

If your 401(k) is a 60/40 mix of stocks to bonds, then you're likely down over 15%. But is this just an unusual year, or is the 60/40 portfolio not a good design anymore? Check your risk, visit HackmannWealth.com.

As many financial ‘experts' pull out their crystal balls, Russ wants you to remember that it's impossible to predict a recession and now is not the time to stick your head in the sand. Discover what protection moves you can make, visit HackmannWealth.com.

In 2020, the government's efforts to keep the economy going led to a quick recovery, but now economists say the market is in for a dose of reality. Russ talks about ways to help limit losses. Need a risk assessment? Visit HackmannWealth.com.

The economic outlook is gloomy, but now is not the time to sit on your hands. Russ talks about available opportunities, despite the market, and why now is the time to get a 2nd opinion. Got market worries? Visit HackmannWealth.com.

30 years seems like a safe assumption on how long you'll need your nest egg to last. But a new study says some will live into their 120s! Worried about outliving your money? Visit HackmannWealth.com.

The market moving into “bearish” territory could actually present opportunities for investors, by way of a Roth conversion. Want to know how to save money on taxes? Visit HackmannWealth.com.

Inflation is up, interest rates are up, volatility is up…your accounts are down. As investors look for ways to protect capital, Russ shares his ideas on possible investment options. Seeking a silver lining? Visit HackmannWealth.com.

Warren Buffett says invest in the S&P 500 Index Fund because it's outperformed most money managers for over a decade, but Russ explains how having financial vehicles differs from an actual written plan. Ready to get your plan in place? Visit HackmannWealth.com.

The recent mega-jackpot winners have a LOT less coming to them thanks to Uncle Sam. Russ explains how taxes are a big deal for all of us because you never get that money back. Need a retirement tax management plan? Visit HackmannWealth.com.

A financial contributor admits his 3 dumb financial mistakes. One of the biggest was not taking advantage of tax-sheltered retirement accounts. Russ explains the need for multi-year planning. Are you taking full advantage of your tax options? Visit HackmannWealth.com.

Inflation is leading to interest rate hikes, leaving many worried about the market. Russ points out the risk management you need on top of investment adjustments. Does your risk plan include income and legacy? Visit HackmannWealth.com.

The need for tax planning doesn't end just because you stop working. Russ talks about some common tax mistakes retirees make, and how he works to help clients avoid them. Is your retirement “tax ready”? Visit HackmannWealth.com.

At 76, Dolly Parton isn't slowing down and admits her hope to never stop working. While the notion is nice, Russ explains how an unforeseen circumstance could upset your plan to work forever. Are you prepared for the unexpected? Visit HackmannWealth.com.

Many Americans have saved to a 401(k) and now are hearing of the idea to convert that money into a Roth and pay taxes before retirement. Russ shares info on the advantages, plus other items you need to have checked off your list. Does your income plan include a tax plan? Visit HackmannWealth.com.

Inflation has grown to 7.9% which is not only hard on your wallet, but adding more volatility to the stock market as well. Russ talks about building a plan to sustain your quality of life despite rising costs and market turbulence. Need a retirement income plan? Visit HackmannWealth.com.

A test-drive of several free online calculators returned some shocking results that further emphasize you should not believe whatever you find on the internet. Have you calculated all the pertinent information? Visit HackmannWealth.com.

You need multiple income streams in retirement but how do you build them and once you do, what tax obligations could they create? Russ talks about the delicate balance required in a retirement plan. Make sure your savings are in check, connect at HackmannWealth.com.

Many drivers wait to see a mechanic because they're intimidated, the same can be said about financial advice. Russ explains how the current state of the world is the “check engine light” on your retirement plan. Take a look under your financial hood, visit HackmannWealth.com.

Marriage is a partnership but that's something many forget when it comes to financial planning. Russ explains the critical need for both spouses to be involved in the process. And whether you're a couple or single, we're all worried about taxes but rolling everything into a Roth is not the answer! Need a retirement tax strategy? Visit HackmannWealth.com.

The SATs are making drastic changes to try to stay relevant as colleges ditch these tests as an admission requirement, pointing out that it may be time for you to also let go of these “old-fashioned” money rules. Also, if you're second-guessing some of your retirement planning moves, Russ explains why it's important to get a second opinion. Visit HackmannWealth.com.

Turns out you don't need fabric softener. Laundry soap no longer contains lye making softener unnecessary, yet most of us still use it because that's “what we always did” …and it's not unlike how we approach our savings. These 3 common retirement mistakes prove we're just saving “like we always did.” Are you guilty? Visit HackmannWealth.com.

Annuities and regular Long Term Care policies are often surrounded by negative consumer opinions. Russ talks about how the landscape has drastically changed in both areas, while sharing available options you may not know about but might find appealing. Visit HackmannWealth.com.

Your future happiness relies heavily on how you spend your money. Russ talks about building a plan that gives you “permission to spend” on the fun things, but also factors in the not-so-fun expenses that many of us fail to plan for in retirement. Connect at HackmannWealth.com.

The pandemic is still raging, and inflation is rampant, making stability even more important right now. All these notions may be throwing a wrench in your plan to retire this year. On this episode, Russ talks about ways to build a plan so you can have confidence retiring, no matter what is happening in the world. Visit HackmannWealth.com.

Over half of respondents say the worst part of the entire holiday season is this one activity, and it's not unlike how many approach retirement planning. Russ talks about simplifying the process, and what he thinks you should prioritize. Been putting off your own plan? Connect at HackmannWealth.com.

It's perhaps the most-maligned food of the holiday season, but many home bakers insist that those who hate fruitcake have probably never even tried it. Which gives it a direct correlation to one particular retirement planning tool. Russ explains why you need to keep an open mind when creating your retirement income plan. Connect at HackmannWealth.com.

There's a disconnect between what financial advisors think their clients want to talk about, versus what clients actually want to talk about. Russ talks about the questions you should be asking your financial advisor in order to develop a plan suited towards your goals. Looking for a clearer financial conversation? Connect at HackmannWealth.com.

A fast-food chain is bringing a misunderstood burger OUT of retirement and reminding us that we're not so great at math along the way. And if you inherit a traditional IRA, you have 10 years to withdraw all the money, but should you take out a little each year or take it all in one lump sum? Need some help “doing the math” on your savings? Connect at HackmannWealth.com.

Yes, you're aware of the current inflation effects, but your college kid may be confused as to why his spending money seems to be less than before. Russ candors over different age group's perspectives while offering ideas on how to better protect your buying power. Plus, the next time you log in to your retirement account, imagine the number at the bottom is quite a bit smaller than the one you're seeing. Connect at HackmannWealth.com.

After decades spent working to build your nest egg, it's a big leap-of-faith trusting someone to help you manage it. Russ talks about some of the “very important questions” you should ask before deciding on a financial advisor. Plus, the number of people who have a will is declining, but your need for an estate plan is not. Visit www.HackmannWealth.com.

Many remember Oct 19th, 1987, but between 1929 - 2020, there's actually been 4 “Black Mondays” in American financial history. If predictions of a major market correction come true, will your retirement plan be ready? Plus, as more adults shoulder the burden of healthcare and financial support of aging parents, we're reminded of the importance in having a proper long term care plan within our overall plan. Learn about planning for your future needs. Visit www.HackmannWealth.com.

The IRS is looking to monitor all checking accounts with a balance of at least $600. The goal is to detect those trying to hide income, and then tax that money. As Uncle Sam continues to look for any way to get every cent, Russ uses this example to emphasize the importance of a proper retirement tax strategy. And there may be a return of this ugly economic term from the 70's. Worried about “stagflation” effects on your money? Visit www.HackmannWealth.com.

As we head into the year's fourth quarter, we hope the markets keep holding up, but rising taxes may be a threat on your investments. Russ explains why this might be. Plus, few Americans plan to work well into their 60s. While retiring early is great for those who can pull it off, you need to avoid these potential pitfalls. Learn more at www.HackmannWealth.com.

Bill Gross, aka “The Bond King,” now says bonds are trash, but other strategists disagree. If even the so-called experts can't agree, what are retirement investors supposed to think? Plus, why you may need to break up with your financial advisor as you approach retirement. Want to learn how to put your “dead money” to work? Visit www.HackmannWealth.com.

“Tax season,” for most of us means February – April. But there are, in fact, many things that can be done in the Fall regarding your tax planning. Russ shares ideas on what you can work on before the end of the year, in effort to reduce your future tax obligations. Visit  www.HackmannWealth.com.

Long Term Care can cost $100,000 + a year. So, how can you plan to cover those costs? Russ weighs out some pros and cons between buying insurance or self-funding. Plus, these tweaks can make a noticeable difference in your taxes. Learn how you may be able to reduce future taxes, visit  www.HackmannWealth.com.

The housing market is HOT! For people who were planning to downsize anyway, should they go ahead and list their home now? Or…what if you don't want to move. Can you afford to keep your home through retirement? Russ talks building a plan from both sides of the spectrum. Do your home goals align with your retirement goals? Visit www.HackmannWealth.com.

Analysts are waving a warning flag, but if we are in a bubble what difference does that make for those who plan to tap into their nest eggs in the next five years? Also, the majority of baby boomers falsely assume that Medicare will pay for any long-term care needs. Worried about how you'll pay for it? Visit www.HackmannWealth.com.

A third of us would give up carbs, sugar, and alcohol forever, in exchange for never having to manage our personal finances again! Russ explains why you don't need to go to these extremes. Also, the 3 big ways we jeopardize our financial futures. Find a balance between budgeting and indulging, visit www.HackmannWealth.com.

Is the current rise in cost-of-living temporary, or is this our “new normal?” Russ explains how high inflation rates may affect your future buying power. Plus, why having a proper plan may be even more important than the actual amount of money you saved. Start building your retirement income plan at www.HackmannWealth.com.

Retirees admit that having guaranteed income has made a bigger difference than they thought it would. With pensions becoming scarce, and most 401(k) plans not offering annuity options, Russ explains ways to set up your own guaranteed income for retirement. Learn how to “DIY a Pension” at www.HackmannWealth.com.

A recent newspaper article seems to say that this whole retirement planning thing is a lot easier than we've been led to believe! Russ shares his ideas on ways to ease your planning “to do” list. Plus, how much should we worry about Social Security running out… it depends on your age. Get to work on your “One Page Retirement Income Plan,” by visiting www.HackmannWealth.com.

This baseball player has been retired for 20 years, and yet he still gets $1million paychecks from his old team every year. Russ talks about, not only how to create this kind of income plan for yourself, but why it's critical that we all have a written plan for retirement. Get started on your plan. Visit www.HackmannWealth.com.

401(k) providers have started giving customers a chance to invest in Bitcoin. Russ shares his thoughts on including cryptocurrency in your retirement plan. Plus, how are you planning to pay for healthcare after you leave your job? Learn about your medical expense options at www.HackmannWealth.com.

Some experts are warning that investors may be underestimating the potential for high inflation. Russ explains why your plan needs to include a spike in rates. Plus, knowing when it's time to take your chips off the table. Worried about market risk? Visit www.HackmannWealth.com.