Podcasts about cpwa

COSTLY MISTAKES NOT HAVING ESTATE PLANNING DOCUMENTS FROM BALTIMORE WASHINGTON FINANCIAL ADVISORS with Sandy Hornor | CEPS Managing Director, Wealth Management & Executive Manager, BWFA and Tyler Kluge | CFP®, ChFEB℠, CPWA®, CDFA®, CEPS,  Financial Planner, BWFA About This Episode Estate planning isn't only for the wealthy. Without the right documents, families may face legal challenges, financial stress, and uncertainty. In this episode, BWFA's Sandy Hornor, Jr. and Tyler Kluge explain why putting off estate planning is a costly mistake, and how to avoid it. Full Description Estate planning is often misunderstood. Many assume it's only necessary for people with large estates, but in reality, nearly everyone benefits from having key documents in place. A lack of planning can leave families unprepared, force courts to make critical decisions, and create unnecessary stress during already difficult times. In this episode of Healthy, Wealthy & Wise, BWFA's Sandy Hornor, Jr. and Tyler Kluge discuss the risks of not having essential estate planning documents. They explain the role of wills, powers of attorney, and healthcare directives in ensuring that your wishes are carried out. They also highlight how trusts can provide structure for transferring assets, minimizing disputes, and reducing costs for loved ones. Listeners will hear stories of families caught unprepared because estate documents weren't updated—or never created. Sandy and Tyler emphasize that estate planning is not a one-time task. It must evolve with changes in family circumstances, financial situations, and state or federal laws. The episode also explores the emotional benefits of planning. Having documents in place allows families to focus on care and connection instead of conflict and confusion. It's not just about money; it's about protecting the people and priorities that matter most. At BWFA, we work with clients to review and update estate planning as part of a comprehensive financial strategy. This episode highlights why it's important to act now rather than wait until it's too late. For more information, visit BWFA's Financial Planning Services.

With many homeowners now saddled with unsustainably high mortgage payments, some are looking to adjustable rate mortgages as an alternative, gambling on the prospect of lower rates coming down the pipe. Donna and Nathan discuss the flawed assumptions and risks behind this strategy. Also on MoneyTalk, the shift back to active bond funds, and Stock Trivia: Battle of the Sowas. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais, CFP®, CIMA®, CPWA®; Air Date: 11/4/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

You pay into the social security system your whole life, and when it's finally time to claim your benefits, what should feel like a moment to celebrate often becomes a moment of confusion where the wrong decision can carry life long consequences. Donna and Nathan discuss mistakes people make with their social security benefits, and how to avoid them. Also on MoneyTalk, the good and the bad of using target date funds, and Stock Trivia: Battle of the Sowas. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais, CFP®, CIMA®, CPWA®; Air Date: 10/30/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

If you receive all of your income by W-2, most tax filing software will likely give you results similar to what you would get if you had filed through a CPA, but for 1099 employees or those with mixed income sources, having the guidance of a professional can make a world of difference. Nathan speaks with CPA, John Briggs, Founder of Incite Tax, about the value of using a CPA for certain tax filers, some non-tax accounting services offered by CPAs that you can take advantage of, common tax deduction myths, and much more. Host: Nathan Beauvais, CFP®, CIMA®, CPWA®; Special Guest: John Briggs, CPA; Air Date: 10/31/2025; Original Air Date: 1/6/2023. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

A Roth conversion can be a great strategic tool for reducing overall tax burden, minimizing RMDs, and achieving certain estate planning goals, but only under very specific circumstances. Donna and Nathan run through the variables in the Roth conversion decision process, who benefits most, and the consequences of getting it wrong. Also on MoneyTalk, balancing competing goals, and Special Guest Stock Trivia. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais, CFP®, CIMA®, CPWA®; Air Date: 10/28/2025; Original Air Dates: 11/27/2022 & 10/19/2023. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

COSTLY MISTAKES THE DOWNSIDES OF EARLY PAYOFF FROM BALTIMORE WASHINGTON FINANCIAL ADVISORS with Sandy Hornor | CEPS Managing Director, Wealth Management & Executive Manager, BWFA and Tyler Kluge | CFP®, ChFEB℠, CPWA®, CDFA®, CEPS,  Financial Planner, BWFA About This Episode For many homeowners, paying off the mortgage feels like the ultimate financial milestone. But doing it too early can sometimes create unintended consequences. In this episode, BWFA's Sandy Hornor, Jr. and Tyler Kluge explain why paying off your mortgage may not always be the best move in retirement. Full Description Owning a home free and clear is a common financial goal. It provides emotional satisfaction, eliminates a major monthly bill, and can feel like the ultimate symbol of financial security. Yet for retirees, rushing to pay off a mortgage can be a costly mistake if it disrupts cash flow or limits investment opportunities. In this episode of Healthy, Wealthy & Wise, BWFA's Sandy Hornor, Jr. and Tyler Kluge explore the trade-offs of using retirement funds to eliminate mortgage debt. They explain how withdrawing large sums to pay off a loan can trigger higher taxes, reduce liquidity, and leave less money invested for growth. While debt-free living has its appeal, it may not always align with long-term financial health. Listeners will hear why context matters—interest rates, tax brackets, and income sources all play a role in whether paying off a mortgage makes sense. Sandy and Tyler share examples of retirees who balanced a modest mortgage with strong investment growth, ultimately ending up with more flexibility and wealth than if they had paid off the loan immediately. The key lesson is that mortgage decisions should be made within the larger framework of a retirement plan. By weighing both the financial and emotional aspects, retirees can choose the approach that provides confidence today while protecting future stability. For more guidance, visit BWFA's Financial Planning Services.

Believe it or not, 150 years ago the average male only lived to age 65 and most worked until they died, so the concept of retirement is still a relatively new idea. Donna and Nathan discuss retirement revelations outlined in Ben Carlson's book, “Everything's You Need to Know About Retirement”, including: how family history helps forge your money habits, how saving money is really about buying time and freedom, and much more. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais, CFP®, CIMA®, CPWA®; Air Date: 10/22/2025; Original Air Date: 9/28/2023. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

COSTLY MISTAKES WHEN LIFE INSURANCE FALLS SHORT FROM BALTIMORE WASHINGTON FINANCIAL ADVISORS with Sandy Hornor | CEPS Managing Director, Wealth Management & Executive Manager, BWFA and Tyler Kluge | CFP®, ChFEB℠, CPWA®, CDFA®, CEPS,  Financial Planner, BWFA About This Episode Life insurance is meant to provide peace of mind and protection for loved ones, but many people discover too late that their coverage is inadequate. In this episode, BWFA's Sandy Hornor, Jr. and Tyler Kluge explain how to avoid this costly mistake and ensure your family's future is secure. Full Description Life insurance often gets purchased early in a career and then left unchanged for years. While the policy may have been sufficient at the time, family needs, debts, and income can change dramatically. Too often, people only realize their coverage is lacking when a major event occurs, leaving loved ones financially vulnerable. In this episode of Healthy, Wealthy & Wise, BWFA's Sandy Hornor, Jr. and Tyler Kluge explore the risks of inadequate life insurance. They discuss why many policies fall short and how factors like inflation, rising expenses, and lifestyle changes can quickly make an old policy outdated. The hosts also examine the difference between term and permanent coverage, stressing the importance of matching insurance to your goals. Listeners will learn how to evaluate whether their current coverage truly protects dependents, pays off debts, and replaces income if the unexpected happens. Sandy and Tyler share examples of clients who reassessed their needs and adjusted policies to better align with family and financial goals. The takeaway is simple: life insurance is not a one-time decision. It should evolve with your circumstances. By reviewing coverage regularly and working with a professional, you can help ensure that your plan provides the right level of protection—now and in the future. For more guidance, visit BWFA's Financial Planning Services.

What are your goals for retirement? What will your retirement expenses look like? Is your retirement income structured to keep up with inflation? These are just a few of the questions you will need to be ready to answer when first meeting with a financial advisor, and for many people, that may be the first time they've even thought about them. Donna and Nathan discuss how to prepare for the retirement planning process with your advisor. Also on MoneyTalk, the critical role of social security for our retirement community. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais CFP®, CIMA®, CPWA®; Air Date: 10/20/2025; Original Air Date: 9/23/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

We try to take a calculated approach to decision making with our money, but more often than not, those decisions are driven by emotions. Donna and Nathan use the framework of behavioral finance to explain the role the investment advisor can play in helping to offset some of our counterproductive tendencies. Also on MoneyTalk, Stock Trivia: Two Truths and a Lie. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais, CFP®, CIMA®, CPWA®; Air Date: 10/21/2025; Original Air Date: 1/27/2023. Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

While index funds have their benefits, customization has never been one of them, that is - until now. Donna and Nathan discuss how the technology behind direct indexing is allowing investors to design their own specialized portfolio to benchmark an index, while using sophisticated tax efficiency strategies unavailable with traditional index funds. Also on MoneyTalk, getting your ducks in a row before retirement, and Stock Trivia: Battle of the Sowas. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais CFP®, CIMA®, CPWA®, CPWA®; Air Date: 10/16/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

COSTLY MISTAKES TOO MUCH CASH IN RETIREMENT FROM BALTIMORE WASHINGTON FINANCIAL ADVISORS   with Sandy Hornor | CEPS Managing Director, Wealth Management & Executive Manager, BWFA and Tyler Kluge | CFP®, ChFEB℠, CPWA®, CDFA®, CEPS,  Financial Planner, BWFA About This Episode Holding retirement savings in cash may feel safe, but over time inflation erodes purchasing power. In this episode, BWFA's Sandy Hornor, Jr. and Tyler Kluge explain why too much cash can become a costly mistake—and how to find the right balance for long-term security. You'll also learn why professional planning helps ensure that your money continues to grow, even as your needs and goals evolve. Full DescriptionMany retirees feel comfortable keeping large portions of their retirement plan in cash. It provides stability, avoids market swings, and seems like the safe choice. However, cash alone cannot keep up with inflation. Over the years, rising prices quietly reduce its value, leaving less to cover healthcare costs, everyday expenses, and the retirement lifestyle you planned. In this episode of Healthy, Wealthy & Wise, BWFA's Sandy Hornor, Jr. and Tyler Kluge explain why holding too much cash can be risky. While every plan needs liquidity for emergencies, relying on cash at the expense of growth may limit your long-term success. Together, they share insights on how to strike the right balance, ensuring you maintain flexibility today while protecting your future purchasing power. Listeners will also hear how professional financial planning can help determine the right mix of cash, bonds, and equities. With careful guidance, it is possible to feel secure while still allowing your portfolio to grow. At BWFA, we believe retirement is about more than safety—it's about sustainability. This episode offers practical guidance for making smarter decisions, avoiding common pitfalls, and staying on track for the future. By learning how to balance risk and reward, you can create a retirement strategy designed to last. For more retirement strategies, visit BWFA's Financial Planning Services.

Being mortgage free is the dream for most homeowners, but even if you have the available cash to pay off your house, it may be a tough decision in a high savings rate environment. Donna and Nathan answer a MoneyTalk hotline question from a listener who is grappling with this very decision. Also on MoneyTalk, deciding whether to rent or buy, and Stock Trivia: Battle of the Sowas. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais CFP®, CIMA®, CPWA®; Air Date: 10/14/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

Newly enacted regulations may have an impact on the how your charitable tax deductions will be treated by the IRS. Today, John Walker, Regional Vice President, Mercer Advisors, is joined by CERTIFIED FINANCIAL PLANNER® professional Jason O'Meara, Wealth Advisor and Sr. Director, Mercer Advisors along, with Mercer Advisors colleague Bryan Strike, MS, MTx, CFA, CFP®, CPA, PFS, CIPM, RICP®, CPWA®, CAS, Director of Financial Planning. They discuss how you may be impacted by the changes. Listening Time: 28 minutes Mercer-Cordasco Disclosure Information Visit Our Website Join Our Email List Additional Mercer Advisors Disclosure Cordasco Financial Network is a tradename. All services provided by Cordasco Financial Network investment professionals are provided in their individual capacities as investment adviser representatives of Mercer Global Advisors Inc. (“Mercer Advisors”), an SEC-registered investment adviser principally located in Denver, Colorado, with various branch offices throughout the United States doing business under different tradenames, including Cordasco Financial Network. Mercer Advisors is not a law firm and does not provide legal advice to clients. All estate planning document preparation and other legal advice are provided through Advanced Services Law Group, Inc.

The Health Savings Account is a uniquely designed product combining some of the key tax benefits of both tax deductible and tax deferred accounts, so if your employer offers an HSA as part of your benefits package, you should strongly consider taking advantage if you qualify. Donna and Nathan discuss how to use the HSA to its full benefit. Also, on our MoneyTalk Moment in Financial History, Nathan and Daniel explain how FDR used the aftermath of the Great Depression to pass the most progressive and influential package of political and social reforms in our nation's history: the New Deal. Host: Nathan Beauvais, CFP®, CIMA®, CPWA®; Special Guest: Daniel Sowa; Air Date: 10/8/2025; Original Air Dates: 4/5/2023 & 4/11/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

If you receive 100% of your income from your salary, the manner in which you are taxed is relatively straightforward, but a growing number of Americans today receive income from multiple sources, each of which may be taxes a little differently. Donna and Nathan discuss how your tax liability is calculated on different types of income, including: social security, pensions, dividends and interest, capital gains, retirement accounts, life insurance proceeds, annuities, and real estate sales. Also on MoneyTalk, a social security refresher. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais CFP®, CIMA®, CPWA®; Air Date: 10/9/2025; Original Air Dates: 4/9/2024 & 9/23/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

Growth in life is largely about learning from your mistakes, but at a certain point in our journey we will no longer have the benefit of time to recover from those mistakes, so having a plan is essential. Nathan discusses some common mistakes to be mindful of as we prepare for retirement, including: outliving your assets, favoring accumulation over distribution, failing to account for inflation, and much more. Also on MoneyTalk, valuable takeaways from Hans Rosling's book, “Factfulness: Ten Reasons We're Wrong About the World-and Why Things Are Better Than You Think.” Host: Nathan Beauvais, CFP®, CIMA®, CPWA®; Special Guest: Daniel Sowa; Air Date: 10/10/2025; Original Air Date: 6/12/2023. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

We can all agree that we are in the midst of a challenging housing market, but it may surprise you to learn that the cost of a median priced home in ounces of gold today is the same as it was back in 2008. Donna and Nathan discuss how looking at the big economic picture can reframe our understanding of the real condition of a particular financial market. Also on MoneyTalk, how restricted stock units work, and Stock Trivia: Battle of the Sowas. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais CFP®, CIMA®, CPWA®; Air Date: 10/7/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

After the tax breaks built into the One Big Beautiful Bill, it is estimated that 42% of Americans will pay zero income tax, and if you were wondering how that could be possible, you're not alone! Donna and Nathan walk us through five different scenarios of households that would end up paying no income taxes under the current tax system. Also on MoneyTalk, the push for financial literacy in schools, and Stock Trivia: Battle of the Sowas. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais CFP®, CIMA®, CPWA®; Air Date: 10/2/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

Many work with therapists to improve their relationships or understand their motivations, but few of us take the time to look inward and discover why we handle our finances the way that we do. Nathan offers insights from Richard Thaler on why we are so inconsistent with how we think about money, and from Steve Buckholder on how to get out of your own way when approaching your financial goals. Also on MoneyTalk, the differences between IRAs and non-retirement accounts, and the Big Three stock indices. Host: Nathan Beauvais, CFP®, CIMA®, CPWA®; Air Date: 10/3/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

When you were first hired at your job, you may have been given a brief overview of your workplace retirement account that got buried in your new-hire documents, but each type of retirement account carries its own unique features and benefits that are important to understand. Nathan discusses the different types of employer sponsored plans, and how to use them to their full advantage. Also, on our MoneyTalk Moment in Financial History, Nathan and Daniel tell the story of how Standard Oil shaped American industry, and sparked the birth of modern antitrust law. Host: Nathan Beauvais, CFP®, CIMA®, CPWA®; Special Guest: Daniel Sowa; Air Date: 10/1/2025; Original Air Dates: 1/4/2023 & 8/2/2024. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

Inheriting money from your spouse is a pretty straightforward process, but when money is passed down from parents or other family members, the rules get a bit more murky. Donna and Nathan discuss the process of distributing assets from a non-spousal inheritance, and the tax implications of getting it wrong. Also on MoneyTalk, Stock Trivia: Battle of the Sowas. —Indexed annuities are insurance contracts that, depending on the contract, may offer a guaranteed annual interest rate and some participation growth, if any, of a stock market index. Such contracts have substantial variation in terms, costs of guarantees and features, and may cap participation or returns in significant ways. Any guarantees offered are backed by the financial strength of the insurance company, not an outside entity. Investors are cautioned to carefully review an index annuity for its features, costs, risks, and how the variables are calculated. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais CFP®, CIMA®, CPWA®; Air Date: 9/30/2025; Original Air Date: 7/1/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

Financial planning is about defining and prioritizing your goals and values, and developing a roadmap to help guide you through the many decisions that lie ahead. Donna and Nathan take us through the steps in the financial planning process, and discuss how working with a fiduciary can help you take the reins on your future retirement. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais CFP®, CIMA®, CPWA®; Air Date: 9/26/2025; Original Air Date: 11/22/2022. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

ETFs have grown in popularity over the years, with nearly half of US investors holding them in their portfolios, but many don't understand exactly how ETFs work or what makes them different from mutual funds. Donna and Nathan discuss ETF mechanics, and debunk some common myths. Also on MoneyTalk, different types of life insurance products and who they are appropriate for, and Stock Trivia: Battle of the Sowas. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais CFP®, CIMA®, CPWA®; Air Date: 9/25/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

THE OVERLOOKED $2 MILLION SOCIAL SECURITY MISTAKE FROM BALTIMORE WASHINGTON FINANCIAL ADVISORS with Sandy Hornor | CEPS Managing Director, Wealth Management & Executive Manager, BWFA and Tyler Kluge | CFP®, ChFEB℠, CPWA®, CDFA®, CEPS,  Financial Planner, BWFA About This Episode Social Security benefits can add up to more than $2 million for some households, yet many wealthy families overlook their value. In this episode, Senior Financial Planner Thad Ismart explains how high-net-worth individuals can make the costly mistake of ignoring Social Security—and strategies to maximize its impact. Full Description When people think about Social Security, they often imagine modest monthly checks. But over a lifetime, benefits can exceed $2 million for many high-earning households. Unfortunately, wealthy individuals often dismiss Social Security as irrelevant, leaving valuable opportunities on the table. In this episode of Healthy, Wealthy & Wise, Thad Ismart, CFP®, ChFEBC, CEPS, Senior Financial Planner at BWFA, explores how affluent families can misuse—or underuse—Social Security benefits. Thad explains how treating Social Security as “extra” income rather than a strategic asset can lead to missed planning opportunities. The conversation covers practical ways to put Social Security to work. For instance, using benefits to help fund long-term care, cover estate taxes, or purchase life insurance that transfers wealth more efficiently. Thad also highlights strategies like gifting benefits into trusts, which can create tax-smart legacies for heirs. Listeners will come away with a better understanding that Social Security is not just a government check but a tool that can enhance a larger financial plan. Wealthy households that integrate Social Security thoughtfully may free up other assets for investment, giving, or family support. At BWFA, we help clients of all income levels make informed decisions that align with their goals. This episode encourages even high-net-worth families to reconsider the role Social Security can play in their overall strategy. For more insights, visit BWFA's Financial Planning Services.

What are your goals for retirement? What will your retirement expenses look like? Is your retirement income structured to keep up with inflation? These are just a few of the questions you will need to be ready to answer when first meeting with a financial advisor, and for many people, that may be the first time they've even thought about them. Donna and Nathan discuss how to prepare for the retirement planning process with your advisor. Also on MoneyTalk, the critical role of social security to our retirement community, jobs where seniors are still in demand, and Stock Trivia: Battle of the Sowas. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais CFP®, CIMA®, CPWA®; Air Date: 9/23/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

There is a common misconception that estate planning is exclusively for the wealthy, but many of the legal tools that estate attorneys prepare for their clients are useful for people from all walks of life. Nathan speaks with estate attorney and long time MoneyTalk contributor, Andy Nault, to discuss some estate planning documents that you should consider having in place, how to avoid some common mistakes, and much more. Host: Nathan Beauvais, CFP®, CIMA®, CPWA®; Special Guest: Andy Nault; Air Date: 9/17/2025; Original Air Date: 6/6/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

Half of private sector workers are now contributing to a 401K, showing a much needed head of steam for plan participation at a time when the retirement savings gap poses a major threat to future retirees. Donna and Nathan discuss how new 401K plan features are making it simpler and more attractive for workers to save for retirement. Also on MoneyTalk, Stock Trivia: Battle of the Sowas. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais CFP®, CIMA®, CPWA®; Air Date: 9/18/2025; Original Air Date: 3/31/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

Among the innovations that contributed to the rise of the industrial age, the steam locomotive is arguably the most consequential. Without the national railroad network, the westward expansion of the US and the exponential economic growth of the late 19th and 20th centuries could not have occurred. In this edition of our MoneyTalk Moment in Financial History, Nathan tells the infamous story of one of the first major US railroads, the Eerie, and the war that ensued between four of the most powerful tycoons of the Gilded Age: Cornelius Vanderbilt, Daniel Drew, James Fisk and Jay Gould. Host: Nathan Beauvais, CFP®, CIMA®, CPWA®; Air Date: 9/17/2025; Original Air Date: 3/6/2024. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

WHAT TO DO WITH LEFTOVER 529 FUNDS FROM BALTIMORE WASHINGTON FINANCIAL ADVISORS with Sandy Hornor | CEPS Managing Director, Wealth Management & Executive Manager, BWFA and Tyler Kluge | CFP®, ChFEB℠, CPWA®, CDFA®, CEPS,  Financial Planner, BWFA Episode Details: Saving for education is one of the best financial gifts you can give your family. But what happens when a child graduates and there's still money left in the 529 plan? Many families find themselves asking this very question. In this episode of Healthy, Wealthy & Wise, BWFA's Sandy Hornor and Tyler Kluge share practical strategies for putting leftover 529 funds to work. They begin by explaining the flexibility of 529 plans. These accounts aren't limited to just one child or even one generation. With a simple change of beneficiary, leftover funds can be reassigned to a sibling, cousin, or grandchild. Parents can even use the money for their own continuing education. The hosts also highlight how some families leave funds invested, allowing tax-free growth until future generations are ready for school. A newer option gaining attention is the ability to roll a portion of unused funds into a Roth IRA. Under current law, certain conditions apply, but this strategy can jump-start retirement savings for children or grandchildren. Sandy and Tyler walk through when a Roth rollover makes sense and how it can add long-term value. Not every situation allows for easy transfers, and sometimes withdrawals are considered. Non-qualified withdrawals typically involve taxes and penalties, but exceptions exist—such as when the student has received a scholarship. This episode provides guidance on how to evaluate whether withdrawing funds is ever the right move. Ultimately, leftover 529 funds are a “good problem” that reflects disciplined saving. With the right planning, families can use those dollars to support future education, retirement, or even their own lifelong learning. For more insights, visit our College Planning Services page. To explore current rules and IRS guidance on qualified education expenses, see the IRS 529 Plan FAQ.

Believe it or not, 150 years ago the average male only lived to age 65 and most worked until they died, so the idea of retirement is still a relatively new concept. Donna and Nathan discuss retirement revelations outlined in Ben Carlson's book, “Everything's You Need to Know About Retirement”, including: how family history helps forge your money habits, how saving money is really about buying time and freedom, the power of compounding, and much more. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais CFP®, CIMA®, CPWA®; Air Date: 9/16/2025; Original Air Date: 9/28/2023. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

If you receive 100% of your income from your salary, the manner in which you are taxed is relatively straightforward, but a growing number of Americans today receive income from multiple sources, each of which may be taxes a little differently. Donna and Nathan discuss how your tax liability is calculated on different types of income, including: social security, pensions, dividends and interest, capital gains, retirement accounts, life insurance proceeds, annuities, and real estate sales. Also on MoneyTalk, when to consider a Roth conversion, and how IRRMA impacts Medicare premiums. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais CFP®, CIMA®, CPWA®; Air Date: 9/15/2025; Original Air Date: 4/9/2024. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

Buy-now-pay-later has gained popularity throughout the retail space as a way for shoppers to purchase goods that they may not have the cash for, but some fear that this trend is contributing to poor spending habits for a young generation of consumers. Donna and Nathan discuss who profits from BNPL purchases, how credit reporting agencies are changing the way they treat these transactions, and what the trend indicates about our consumption economy. Also on MoneyTalk, how credit scores are calculated, and Stock Trivia: Battle of the Sowas. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais CFP®, CIMA®, CPWA®; Air Date: 9/11/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

During a bull market, some people hire a financial advisor for the wrong reasons, expecting them to put on a magic show rather than treating investing as a lifelong endeavor to build wealth with patience and prudence. Nathan discusses the important distinction between investing as an enterprise vs investing for entertainment. Also on MoneyTalk, understanding income investing, and the price of time. Host: Nathan Beauvais, CFP®, CIMA®, CPWA®; Air Date: 9/12/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

If you were to ask someone to name the most successful investor of our time, 9 times out of 10 you would likely hear the name Warren Buffett. On this edition of our MoneyTalk Moment in Financial History, Nathan and Daniel cover the meteoric rise of Warren Buffett, and how his clear and principled approach to investing would lead him to become one of the most prolific investors in American history. Also on MoneyTalk, how to face the challenge of retiring in a down market. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais CFP®, CIMA®, CPWA®; Special Guest: Daniel Sowa. Air Date: 9/10/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

IS CASH KING? BALANCING LIQUIDITY AND GROWTH FROM BALTIMORE WASHINGTON FINANCIAL ADVISORS with Sandy Hornor | CEPS Managing Director, Wealth Management & Executive Manager, BWFA and Tyler Kluge | CFP®, ChFEB℠, CPWA®, CDFA®, CEPS,  Financial Planner, BWFA Episode Details: Cash is often described as either “king” or “trash.” In reality, it can be both—depending on your circumstances. In this episode of Healthy, Wealthy & Wise, BWFA's Sandy Hornor and Tyler Kluge explore when holding cash makes sense and when it may work against your long-term goals. The conversation begins with why cash matters. Having an emergency fund provides peace of mind and flexibility when life delivers the unexpected—medical bills, job loss, or urgent home repairs. Sandy and Tyler discuss how to size an emergency fund, why rules of thumb like “three to six months of expenses” may not fit every situation, and how personal factors such as job stability or income volatility affect the right cash balance. But cash also has drawbacks. For retirees who already have stable income from pensions or Social Security, holding too much in cash can mean missed opportunities for growth. The episode shares real-life examples of families who kept significant wealth in ultra-conservative accounts—only to realize that over decades, inflation would erode their purchasing power and diminish the legacy they hoped to leave to children and grandchildren. Sandy and Tyler emphasize that the right answer depends on goals, timing, and flexibility. They recommend tailoring cash holdings to personal risk tolerance, liquidity needs, and investment horizon. The discussion also touches on practical strategies, such as using money markets, high-yield savings, or laddered CDs to keep funds both safe and accessible. Finally, listeners are reminded that cash needs evolve with life changes—new jobs, growing families, or retirement. Reviewing and adjusting cash reserves regularly is critical to keeping financial plans on track. For more insights, visit BWFA's Financial Planning Services.

Getting audited by the IRS is something we all have to be ready for, and no one looks forward to, but the typical audit experience can be surprisingly straightforward - if you're prepared. Donna and Nathan talk about common audit triggers, how to communicate effectively with the IRS, and what documents you absolutely need to have ready when your number gets pulled. Also on MoneyTalk, how to define your risk tolerance, and Stock Trivia: Battle of the Sowas. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais CFP®, CIMA®, CPWA®; Air Date: 9/9/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

You may have heard of the 4% Rule, which suggests 4% as the maximum sustainable rate of withdrawal from your retirement accounts, but over recent years the goal posts have been shifting, leading some to question the validity of this classic rule of thumb. Donna and Nathan discuss how to determine what rate of withdrawal makes sense based on your current and projected cost of living and the importance of building flexibility into your retirement plan. Also on MoneyTalk, the importance of financial literacy for our society. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais CFP®, CIMA®, CPWA®; Air Date: 9/8/2025; Original Air Date: 1/18/2024. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

At age 18, we are put in a position to make financial decisions that most are not fully prepared for, and a few small mistakes can lead to long-term consequences. Today's special guest, Yanely Espinal, Director of Educational Outreach at Next Gen Personal Finance, has made it her mission to address this problem head on, working with students and educators to promote Financial Literacy in schools and throughout the community. Host: Nathan Beauvais, CFP®, CIMA®, CPWA®; Special Guest: Yanely Espinal; Air Date: 9/5/2025; Original Air Date: 6/2/2023. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

After 3+ decades of MoneyTalk, if we haven't sold you on the importance for saving for retirement, then we're really doing something wrong! But just in case you need more convincing, Donna and Nathan offer 10 reasons to save for retirement, including: Social Security likely won't be enough to live on, people are living longer, new 401K features make saving easier than ever, and more. Also on MoneyTalk, Stock Trivia: Battle of the Sowas. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais CFP®, CIMA®, CPWA®; Air Date: 9/4/2025; Original Air Date: 8/11/2023. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

WHAT IS FINANCIAL PLANNING? A COMPLETE GUIDE FROM BALTIMORE WASHINGTON FINANCIAL ADVISORS with Sandy Hornor | CEPS Managing Director, Wealth Management & Executive Manager, BWFA and Tyler Kluge | CFP®, ChFEB℠, CPWA®, CDFA®, CEPS,  Financial Planner, BWFA Episode Details: Financial planning is often confused with investing, estate planning, or tax planning. However, at its core, financial planning is bigger than any one piece—it's the roadmap that helps you reach your life and financial goals with clarity and direction. In this episode of Healthy, Wealthy & Wise, BWFA's Sandy Hornor and Tyler Kluge explain what financial planning truly means. They discuss how a comprehensive plan covers every part of your financial life: budgeting, saving, debt management, investing, insurance, retirement, and estate planning. Together, these elements create a foundation that helps you not only build wealth but also protect it for the future and for your loved ones. Listeners will also learn why financial planning is more than picking investments. It is about setting short-, mid-, and long-term goals and then creating a clear path to achieve them. Sandy and Tyler emphasize starting early, automating savings, and avoiding lifestyle creep. In addition, they highlight how estate planning documents, though often overlooked, play a critical role in protecting family members and ensuring your wishes are honored. Flexibility is another key takeaway. Plans should not remain static. Just as a pilot adjusts course during turbulence, financial plans must adapt to changes in life. Career transitions, shifting markets, or major family milestones may require new strategies. That is why ongoing updates, regular reviews, and professional guidance are essential to staying on track. With more than four decades of experience, BWFA has guided thousands of families as they set goals, manage challenges, and move forward with confidence. This episode offers practical tips as well as reassurance: you don't have to plan alone. Our advisors are here to help you build and maintain a strategy that works. For more insights on financial planning, visit BWFA's Financial Services page

For the past few years we've been adjusting to an unreliable bond market, where alternative approaches to portfolio diversification have become increasingly common. Nathan discusses various categories of liquid alternative investments and how they function differently to achieve portfolio diversification. Also on MoneyTalk, Stock Trivia: Two Truths and a Lie. Host: Nathan Beauvais, CFP®, CIMA®, CPWA®; Air Date: 8/29/2025; Original Air Date: 10/23/2023. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

One of the key features of The One Big Beautiful Bill was a meaningful bump to the amount individuals can deduct from their taxable income, raising the threshold for 0% capital gains. Donna and Nathan discuss which taxpayers will benefit most from this change, and how to factor it into your tax planning. Also on MoneyTalk, lessons from hedge fund manager Stanley Druckenmiller, and Stock Trivia: Battle of the Sowas. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais, CFP®, CIMA®, CPWA®; Air Date: 8/28/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

Getting married is one of the happiest and most exciting moments in life, but after the big day is over, many are unprepared for the transition to jointly managing their financial lives. Donna and Nathan discuss best practices for combining finances and managing shared expenses for newlyweds. Also, on our MoneyTalk Moment in Financial History, Nathan discusses how Capitalism led to the rapid economic progress of the 20th century, but with some unintended consequences. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais, CFP®, CIMA®, CPWA®; Air Date: 8/27/2025; Original Air Dates: 4/18/2024 & 9/18/2024. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

THE EIGHTH WONDER OF THE WORLD - THE QCD! FROM BALTIMORE WASHINGTON FINANCIAL ADVISORS with Sandy Hornor | CEPS Managing Director, Wealth Management & Executive Manager, BWFA and Tyler Kluge | CFP®, ChFEB℠, CPWA®, CDFA®, CEPS,  Financial Planner, BWFA Episode Details: For charitably minded retirees, a Qualified Charitable Distribution (QCD) can be one of the smartest tax strategies available. In this episode of Healthy, Wealthy & Wise, BWFA's Sandy Hornor and Tyler Kluge explain how QCDs allow individuals age 70½ and older to donate directly from an IRA to a qualified charity—with meaningful tax benefits. Listeners will learn how QCDs work, the eligibility rules, and why this strategy often provides more advantages than giving directly from a bank account. For example, donating through a QCD reduces adjusted gross income, which may in turn lower Medicare premiums or reduce the taxable portion of Social Security benefits. Sandy and Tyler also explain how the annual contribution limits apply—$108,000 per person in 2025, or $216,000 for married couples filing jointly. The episode covers important differences between required minimum distributions (RMDs) and QCDs, showing why the two should not be confused. Unlike taking an RMD and then writing a check to charity, a QCD ensures the distribution is never taxed in the first place. This simple distinction can mean substantial savings. Practical guidance is also included. The hosts explain how to properly execute a QCD, why the funds must go directly from the IRA custodian to the charity, and how deadlines affect year-end giving. They also share a timeline for planning—suggesting that clients aim to finalize QCDs well before December to ensure smooth processing. Ultimately, QCDs represent a powerful way to align charitable giving with tax-smart planning. For clients who are both financially secure and charitably inclined, this episode highlights why QCDs are often referred to as the “eighth wonder” of retirement planning. For more on BWFA's approach, visit BWFA's Tax Planning page.

Many investors favor dividends over growth in hopes of living off those payments in perpetuity, but there are some downsides to dividends that can make this strategy less than optimal in the long-term. Donna and Nathan discuss some of the drawbacks of going all in on dividends at the cost of diversification and growth. Also on MoneyTalk, what many people get wrong about social security, and Stock Trivia: Two Truths and a Lie. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais CFP®, CIMA®, CPWA®; Air Date: 8/26/2025. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

Many people use a home equity line of credit for home renovations and unforeseen liquidity needs, but if you are carrying an old balance on your variable rate HELOC, the current high interest rate environment has not been friendly to you. Donna and Nathan discuss options for managing variable rate home equity loan balances, and strategies for paying down other forms of high interest debt. Also on MoneyTalk, Stock Trivia: Two Truths and a Lie. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais CFP®, CIMA®, CPWA®; Air Date: 8/21/2025; Original Air Date: 4/4/2024. Have a question for the hosts? Visit sowafinancial.com/moneytalk to join the conversation!See omnystudio.com/listener for privacy information.

Social Security is one of those universal retirement topics that touches just about everyone, and as such, we like to give it its proper attention here on the MoneyTalk show. Nathan covers the information you need to know around Social Security rules, legislation, and the history of the programâs implementation. Also on MoneyTalk, changes to 401(k) catch-up contributions, when target date funds donât make sense for your portfolio, and more. Host: Nathan Beauvais, CFP®, CIMA®, CPWA®; Air Date: 8/22/2025; Original Air Date: 5/10/2024. Have a question for the hosts? Visit sowafinancial.com/moneytalk to join the conversation!See omnystudio.com/listener for privacy information.

One of the many tools used during the financial planning process is the Monte Carlo simulation, which uses historical and personal financial data to predict the probability of certain outcomes in retirement. Nathan discusses how advisors use statistical analysis to help clients plan for retirement, and how the quality of the data you put in can mean the difference between success and failure. Also, on our MoneyTalk Moment in Financial History, Nathan and Daniel cover the birth of communism during the Russian Revolution, and the economic collapse that followed. Host: Nathan Beauvais CFP®, CIMA®, CPWA®; Special Guest: Daniel Sowa; Air Date: 8/20/2025. Have a question for the hosts? Visit sowafinancial.com/moneytalk to join the conversation!See omnystudio.com/listener for privacy information.

With the passing of the SECURE Act 2.0, the IRS age trigger for required minimum distributions has been raised to 73, but as we all know, Uncle Sam always gets his cut, so having a strategy is critical. Donna and Nathan discuss RMD planning, and how to use the rules to your maximum benefit. Also on MoneyTalk, Stock Trivia: Two Truths and a Lie. Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais, CFP®, CIMA®, CPWA®; Air Date: 8/19/2025; Original Air Date: 10/15/2024. Have a question for the hosts? Visit sowafinancial.com/moneytalk to join the conversation!See omnystudio.com/listener for privacy information.