Money Wisdom: Recent Episodes
Joel Johnson
Listen to Johnson Brunetti's Money Wisdom with Joel Johnson CFP®, host of Better Money Television program and Forbes Contributor. Gain true financial wisdom and advice aimed at educating you about all of your financial options when it comes to retirement so you can make the best decisions for you and your family. Get information and education that can bring you peace of mind with your savings and retirement. Whether it’s your 401k account, IRA, or an underperforming asset, Joel Johnson can answer your questions and make you more aware of issues that may affect you.
When it comes to retirement planning, two deceptively simple questions can reveal everything: Am I going to be okay? What rate of return do I actually need? In this episode, Nick and Jake unpack what those questions really mean and why getting clear answers can make or break your retirement.
From defining what “okay” looks like (hint: it’s not just a dollar amount) to calculating how hard your money needs to work without taking unnecessary risk, they illustrate how a solid retirement plan is more like tubing behind a boat than picking the hottest stock. You don’t want to go so slow that inflation sinks you, or so fast that you wipe out. Join us to get more clarity, balance, and confidence in the next phase of life.
Here’s what we discuss in this episode:
🎯 Define what you want from retirement
📊 Understand the actual return you need
⚖️ Finding your risk balance
🧩 Your plan should fit your life, not someone else’s number
💸 It’s not just about returns, it’s about purpose
Our website: https://johnsonbrunetti.com/
Phone: 800-208-7233
Contact our team: https://johnsonbrunetti.com/contact-us/
Get your customized Money Map: https://johnsonbrunetti.com/your-money-map/#form
Join us for our next financial workshop: https://johnsonbrunetti.com/financial-workshops/
Check out our other no-cost financial resources here: https://johnsonbrunetti.com/financial-resources/
Check us out on YouTube: https://bit.ly/3CcAzai
You’ve climbed the mountain and now it’s time to come down. In retirement, the question shifts from “Where should I invest?” to “Which account do I take money from first?” It’s not just about risk, but timing, taxes, and long-term flexibility. In this episode, Nick and Jake walk through the three major account types, pre-tax, Roth, and after-tax, and explain how withdrawing from the wrong one at the wrong time could cost you thousands.
They discuss sequence of returns risk, why market losses in early retirement are so dangerous, and how to avoid "catching a falling knife" by planning withdrawals with both market and tax efficiency in mind. If you want your money to last, and your tax bill to potentially shrink, this conversation offers a simple framework for smarter decisions in the withdrawal phase.
Here’s what we discuss in this episode:
💰 Pre-tax, Roth, and after-tax: what’s the difference?
📉 The danger of selling during a downturn
🧾 Why tax timing is just as important as returns
📊 Use each account for what it’s best for
🔒 Building safety nets before the market turns
Our website: https://johnsonbrunetti.com/
Phone: 800-208-7233
Contact our team: https://johnsonbrunetti.com/contact-us/
Get your customized Money Map: https://johnsonbrunetti.com/your-money-map/#form
Join us for our next financial workshop: https://johnsonbrunetti.com/financial-workshops/
Check out our other no-cost financial resources here: https://johnsonbrunetti.com/financial-resources/
Check us out on YouTube: https://bit.ly/3CcAzai
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, Jake and Nick offer advice for navigating a down market without making costly mistakes. They explain why emotional reactions often lead to regret, and how fear-based decisions, like pulling out of the market, can do more harm than good. That’s the value of having a financial plan that aligns your risk level with your timeline and needs. The markets may be shaky, but your plan doesn’t have to be.
Here’s what we discuss in this episode:
😬 Why emotions sabotage long-term wealth
🪣 How a “bucket strategy” softens downturn impact
❌ The myth of timing the market
🎯 Why good planning outperforms good guessing
Our website: https://johnsonbrunetti.com/
Phone: 800-208-7233
Contact our team: https://johnsonbrunetti.com/contact-us/
Get your customized Money Map: https://johnsonbrunetti.com/your-money-map/#form
Join us for our next financial workshop: https://johnsonbrunetti.com/financial-workshops/
Check out our other no-cost financial resources here: https://johnsonbrunetti.com/financial-resources/
Check us out on YouTube: https://bit.ly/3CcAzai
Social Security may be one of your most reliable retirement income sources, but it’s also one of the most misunderstood when it comes to taxes. Many retirees are surprised to learn that yes, Social Security can be taxable, depending on your overall income. In this episode, we break down how the rules aren’t always as straightforward as they seem.
Here’s what we discuss in this episode:
💵 When Social Security becomes taxable
📊 What MAGI thresholds really mean
🌎 State rules that may surprise you
⏳ How timing affects your benefit
📈 Why tax planning starts before you file
Our website: https://johnsonbrunetti.com/
Phone: 800-208-7233
Contact our team: https://johnsonbrunetti.com/contact-us/
Get your customized Money Map: https://johnsonbrunetti.com/your-money-map/#form
Join us for our next financial workshop: https://johnsonbrunetti.com/financial-workshops/
Check out our other no-cost financial resources here: https://johnsonbrunetti.com/financial-resources/
Check us out on YouTube: https://bit.ly/3CcAzai
Retirement isn’t just the end of your working years, it’s the beginning of what could be the most financially demanding third of your life. With people living longer than ever, planning for a 30-year retirement is no longer just smart, it’s essential. In this episode, Jake and Nick address how the old model of relying solely on Social Security and pensions doesn’t hold up anymore, especially when inflation, healthcare costs, and market volatility enter the picture.
They also discuss how to build a retirement plan that adapts to every stage, from the energetic “go-go” years to the slower seasons that come with higher medical expenses and fewer travel plans. Find out how Johnson Brunetti helps you identify the real income gap, assess your risk exposure, and create a spending strategy that balances lifestyle with longevity. You’ll learn why “sitting in cash” may feel safe but could actually hurt you, and how to position your savings for both sustainability and flexibility.
Here’s what we discuss in this episode:
📅 Why your retirement might last 30+ years
📉 The danger of being “safely” in cash
🩺 Planning for future healthcare surprises
📊 Aligning your investments with real-life use
Our website: https://johnsonbrunetti.com/
Phone: 800-208-7233
Contact our team: https://johnsonbrunetti.com/contact-us/
Get your customized Money Map: https://johnsonbrunetti.com/your-money-map/#form
Join us for our next financial workshop: https://johnsonbrunetti.com/financial-workshops/
Check out our other no-cost financial resources here: https://johnsonbrunetti.com/financial-resources/
Check us out on YouTube: https://bit.ly/3CcAzai
Most people go into retirement assuming their taxes will drop, but what if that assumption sets you up for a nasty surprise? In this episode, Jake and Nick unpack the “tax trap” that catches countless retirees off guard. It’s a hidden pitfall that turns decades of diligent saving into unexpected tax bills when you finally tap into your nest egg.
They will reveal how common retirement strategies, like deferring taxes through 401(k)s and IRAs, might backfire if not planned for properly. They also break down why general financial advice may not serve you well once you're within 10 years of retirement, and what to consider instead. You’ll hear practical discussion about Social Security taxation, Roth conversions, and how legacy goals shape tax strategy. This episode doesn’t just teach you how to avoid mistakes, it urges you to ask better questions about how and when to pay Uncle Sam.
Here’s what we discuss in this episode:
💥 The myth of lower taxes in retirement
📉 Social Security surprise tax bills
🧾 Timing your “tax check” for maximum savings
🏛️ Roth conversions and smarter legacy planning
Our website: https://johnsonbrunetti.com/
Phone: 800-208-7233
Contact our team: https://johnsonbrunetti.com/contact-us/
Get your customized Money Map: https://johnsonbrunetti.com/your-money-map/#form
Join us for our next financial workshop: https://johnsonbrunetti.com/financial-workshops/
Check out our other no-cost financial resources here: https://johnsonbrunetti.com/financial-resources/
Check us out on YouTube: https://bit.ly/3CcAzai
When it comes to preparing for retirement, most people focus on the obvious goals of saving enough and building an emergency fund. But in this episode of Money Wisdom, Jake Doser, CFP®, CPWA® and Nicholas J. Colantuono, CFP® explore the deeper, often overlooked financial goals that truly make or break your retirement experience.
It’s not just about hitting a magic number. It’s about assigning purpose to each dollar you’ve saved. Proper planning goes well beyond investments to include things like tax strategies, income planning, healthcare expenses, gifting, legacy planning, and even how you’ll spend your time. If you're wondering what you might be missing as you approach retirement, join us as we answer
Here’s what we discuss in this episode:
🎯 Retirement planning is about purpose, not just savings goals 💡 Unexpected life events can reshape your financial priorities 💬 The right advisor brings clarity beyond the numbers 🏡 Legacy and lifestyle planning are often just as important as investments
Our website: https://johnsonbrunetti.com/
Phone: 800-208-7233
Contact our team: https://johnsonbrunetti.com/contact-us/
Get your customized Money Map: https://johnsonbrunetti.com/your-money-map/#form
Join us for our next financial workshop: https://johnsonbrunetti.com/financial-workshops/
Check out our other no-cost financial resources here: https://johnsonbrunetti.com/financial-resources/
Check us out on YouTube: https://bit.ly/3CcAzai
Getting engaged later in life is an exciting time, but it requires different financial planning conversations. With blended families, different retirement timelines, and evolving goals, couples in this situation face unique challenges. Jake and Nick break down how your relationship with money changes as retirement nears and why your financial plan should evolve right alongside it.
Here’s what we discuss in this episode:
📊 Your investments need a new job—income, not just growth
🏦 Assign purpose to each dollar to reduce risk and increase clarity
⏳ The closer you are to retirement, the more planning matters
Our website: https://johnsonbrunetti.com/
Phone: 800-208-7233
Contact our team: https://johnsonbrunetti.com/contact-us/
Get your customized Money Map: https://johnsonbrunetti.com/your-money-map/#form
Join us for our next financial workshop: https://johnsonbrunetti.com/financial-workshops/
Check out our other no-cost financial resources here: https://johnsonbrunetti.com/financial-resources/
Check us out on YouTube: https://bit.ly/3CcAzai
Establishing a solid relationship with a financial advisor is crucial for effective planning, but what does that look like in practice? Jake Doser, CFP®, CPWA® and Nicholas J. Colantuono, CFP® discuss the essential role that communication plays in the client-advisor relationship to help set expectations for the planning process.
We received this question recently and wanted to open up the conversation so everyone can glean a little information from it. We’ll pull back the curtain on what ongoing communication looks like at Johnson Brunetti, with clients typically receiving ongoing education, quarterly events, newsletters, market updates, and in-depth reviews once or twice a year. Plus, we’ll explain why meeting too frequently might not be a good thing and give you a few red flags to watch for.
Here’s what we discuss in this episode:
📞 Proactive Communication – Why regular updates matter more than you think
📊 Annual Review Strategy – What goes into those once or twice-a-year deep dives
🚩 Advisor Red Flags – What it means when you haven’t heard from them in years
🧭 Life Changes = Plan Changes – When it’s time to revisit your strategy
0:00 – Today’s question
1:14 – How we interact with clients
3:29 – Proactive communication
4:50 – Can you meet too frequently?
6:18 – Client needs
Get your customized Money Map: https://johnsonbrunetti.com/your-money-map/#form
Join us for our next financial workshop: https://johnsonbrunetti.com/financial-workshops/
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Check us out on YouTube: https://bit.ly/3CcAzai
Long-term care planning is a significant concern for individuals approaching retirement because it’s an expense most people aren’t prepared for. Trying to prepare for it with insurance isn’t cheap, and people often ask us if it’s worth it. In this episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nicholas J. Colantuono, CFP® tackle this pressing issue by answering a listener’s question about long-term care insurance and the options available.
Here’s what we discuss in this episode:
0:00 – Today’s question
1:39 – Reason it’s expensive
3:39 – Long-term care options
6:48 – Where is long-term care on the priority list?
9:18 – Final thoughts
Our website: https://johnsonbrunetti.com/
Phone: 800-208-7233
Contact our team: https://johnsonbrunetti.com/contact-us/
Get your customized Money Map: https://johnsonbrunetti.com/your-money-map/#form
Join us for our next financial workshop: https://johnsonbrunetti.com/financial-workshops/
Check out our other no-cost financial resources here: https://johnsonbrunetti.com/financial-resources/
Check us out on YouTube: https://bit.ly/3CcAzai
Preparing for required minimum distributions (RMDs) can be quite unsettling when you know withdrawals are coming and the IRS will be waiting. In this episode of the Money Wisdom podcast, we’re going to answer a question about what you can do from a planning standpoint when large RMDs are coming in retirement.
This situation highlights a common issue: retirees often find themselves in higher tax brackets due to large mandatory withdrawals, reducing their financial flexibility. So what are the strategies you can utilize to manage your tax requirements?
Jake Doser, CFP®, CPWA® and Nicholas J. Colantuono, CFP will take you through some of the strategies today.
Here’s what we discuss in this episode:
0:00 – Today’s question
1:05 – What to know about RMDs
4:13 – Income planning
8:49 – Tax planning
Our website: https://johnsonbrunetti.com/
Phone: 800-208-7233
Contact our team: https://johnsonbrunetti.com/contact-us/
Get your customized Money Map: https://johnsonbrunetti.com/your-money-map/#form
Join us for our next financial workshop: https://johnsonbrunetti.com/financial-workshops/
Check out our other no-cost financial resources here: https://johnsonbrunetti.com/financial-resources/
Check us out on YouTube: https://bit.ly/3CcAzai
Financial planning is an essential aspect of life, but every family handles their money a little differently. The Money Wisdom podcast tackled a common question: what happens when one spouse handles all financial matters, leaving the other uninformed? This scenario, while common, can create stress and uncertainty for family members, particularly adult children who may be concerned about their parents' financial security. Discover practical strategies to ensure that both partners are informed and prepared, and learn how to involve adult children in these important discussions.
Here’s what we discuss in this episode:
0:00 – Today’s question
1:00 – Couples and finances
2:56 – Keeping planning simple
4:44 – Involvement is key
6:48 – Our clients
Our website: https://johnsonbrunetti.com/
Phone: 800-208-7233
Contact our team: https://johnsonbrunetti.com/contact-us/
Get your customized Money Map: https://johnsonbrunetti.com/your-money-map/#form
Join us for our next financial workshop: https://johnsonbrunetti.com/financial-workshops/
Check out our other no-cost financial resources here: https://johnsonbrunetti.com/financial-resources/
Check us out on YouTube: https://bit.ly/3CcAzai
A health savings account can be an incredibly powerful tool for tax-advantaged savings but not every health plan includes that option. Is it worth switching your plan for one that allows you to contribute to an HSA?
In the latest episode of Money Wisdom, Jake Doser, CFP®, CPWA® and Nicholas J. Colantuono, CFP® tackle a listener's question about HSAs and walk you through a few of the things you need to know before you switch plans. With rising health care costs and the complexities of health insurance, understanding HSAs and whether they are the right choice for you is crucial.
Here’s what we discuss in this episode:
0:00 – Today’s question
0:53 – What is an HSA?
2:09 – Qualifying for HSA
3:14 – Something to keep in mind
4:22 – Which health plan is right for you?
6:39 – Investing in HSA
Our website: https://johnsonbrunetti.com/
Phone: 800-208-7233
Contact our team: https://johnsonbrunetti.com/contact-us/
Get your customized Money Map: https://johnsonbrunetti.com/your-money-map/#form
Join us for our next financial workshop: https://johnsonbrunetti.com/financial-workshops/
Check out our other no-cost financial resources here: https://johnsonbrunetti.com/financial-resources/
Check us out on YouTube: https://bit.ly/3CcAzai
Most people want to know how they stack up to other people as they approach retirement, which is why people often ask about the average age most people decide to retire. We work with people across different states and regions, so we see a range of ages. In the latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nicholas J. Colantuono, CFP® share their personal experiences from the planning process and explain why comparisons don’t provide the right perspective for retirement.
Here’s what we discuss in this episode:
0:00 – Today’s question
1:05 – Boston clients
2:10 – Connecticut clients
3:17 – Different ages that matter
6:00 – Managing this period of life
Our website: https://johnsonbrunetti.com/
Phone: 800-208-7233
Contact our team: https://johnsonbrunetti.com/contact-us/
Get your customized Money Map: https://johnsonbrunetti.com/your-money-map/#form
Join us for our next financial workshop: https://johnsonbrunetti.com/financial-workshops/
Check out our other no-cost financial resources here: https://johnsonbrunetti.com/financial-resources/
Check us out on YouTube: https://bit.ly/3CcAzai
One of the primary concerns for individuals nearing retirement is the desire to be debt-free. While this is a noble goal, it raises several questions about financial strategy, liquidity, and credit scores. While being debt-free may feel like a significant milestone, it is crucial to consider the broader financial picture. In the latest episode of the podcast, Jake Doser, CFP®, CPWA® and Nicholas J. Colantuono, CFP® discuss the various aspects of debt management and its implications on retirement planning.
Here’s what we discuss in this episode:
0:00 – Today’s question
0:54 – Considerations
2:57 – Do you need to be debt free?
5:44 – Credit score
Our website: https://johnsonbrunetti.com/
Phone: 800-208-7233
Contact our team: https://johnsonbrunetti.com/contact-us/
Get your customized Money Map: https://johnsonbrunetti.com/your-money-map/#form
Join us for our next financial workshop: https://johnsonbrunetti.com/financial-workshops/
Check out our other no-cost financial resources here: https://johnsonbrunetti.com/financial-resources/
Check us out on YouTube: https://bit.ly/3CcAzai
In today's fast-paced world, job security can often feel like a fragile concept, especially for those in their 50s. In this episode of the Money Wisdom podcast with Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP®, address a listener's concern about preparing for potential layoffs and talk about steps to take if you’re facing similar uncertainties.
Here’s what we discuss in this episode:
0:00 – Today’s question
1:05 – Initial checklist
2:26 – Why things change in your 50s
4:18 – Changing your saving strategies
5:18 – Retirement planning considerations
7:48 – Final Thoughts
Our website: https://johnsonbrunetti.com/
Phone: 800-208-7233
Contact our team: https://johnsonbrunetti.com/contact-us/
Get your customized Money Map: https://johnsonbrunetti.com/your-money-map/#form
Join us for our next financial workshop: https://johnsonbrunetti.com/financial-workshops/
Check out our other no-cost financial resources here: https://johnsonbrunetti.com/financial-resources/
Check us out on YouTube: https://bit.ly/3CcAzai
With more people getting divorced later in life, blended families are common, and it leads to additional conversations involving planning. One of the things that need to be addressed when someone remarries is the estate plan, particularly the beneficiaries. Do you need to make changes or can you just let your will take care of your needs?
In this episode of the Money Wisdom podcast with Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP®, we’ll answer a question from someone in this position who doesn’t want to go through the hassle of updating all their estate documents but wants to change beneficiaries.
Here’s what we discuss in this episode:
0:00 – Today’s question
1:05 – Estate planning conversations
3:06 – Issues with not updating beneficiaries
5:04 – Important conversations
Our website: https://johnsonbrunetti.com/
Phone: 800-208-7233
Contact our team: https://johnsonbrunetti.com/contact-us/
Get your customized Money Map: https://johnsonbrunetti.com/your-money-map/#form
Join us for our next financial workshop: https://johnsonbrunetti.com/financial-workshops/
Check out our other no-cost financial resources here: https://johnsonbrunetti.com/financial-resources/
Check us out on YouTube: https://bit.ly/3CcAzai
A key aspect of planning is finding ways to be as efficient as possible with your money and one great example of that is charitable giving. It’s something that many people care a lot about and if we can help them do that with more efficiency, it’s a win-win for everyone. That’s why this episode of the Money Wisdom podcast with Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP®, is all about donor advised funds and qualified charitable distributions (QCDs). These financial tools are gaining attention for their ability to offer significant tax benefits while enhancing charitable giving and we’ll break down what you need to know.
Here’s what we discuss in this episode:
0:00 – Intro and question
0:42 – Defining donor advised funds
2:00 – When would you use this?
4:54 – QCDs
Join us for our next financial workshop to learn about these strategies and more. Text WORKSHOP to 800-757-0436 to reserve your spot today.
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Contact our team: https://johnsonbrunetti.com/contact-us/
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With retirement approaching, many couples are faced with the challenge of aligning their financial goals without the traditional framework of marriage. In the latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® address the challenges and planning needs for couples who aren’t married but still want to maintain a shared interest in their financial success.
Here’s what we discuss in this episode:
0:00 – Intro and question
1:04 – Joint planning
2:37 – Financial benefits of marriage
5:16 – Investment planning
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
Check us out on YouTube: https://bit.ly/3CcAzai
Everyone wants to find the right mix of investments, but it’s easy to become over-concentrated in a specific asset. Real estate investors will often run into this dilemma as property values rise and home equity increases. In this show, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® will answer a question about how much real estate is too much and how should you start shifting investments as you approach retirement.
Here’s what we discuss in this episode:
0:00 – Intro and question
0:57 – First step
2:53 – What are your retirement needs?
4:38 – Over-concentration
6:09 – Numbers to address
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
Check us out on YouTube: https://bit.ly/3CcAzai
Are you constantly comparing your retirement savings to those of your peers? If so, you're not alone. Many people find themselves trapped in the cycle of comparison, wondering if they measure up to others. In the latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® tackle this common concern and explain why comparison can be detrimental to your financial health.
Here’s what we discuss in this episode:
0:00 – Intro
1:02 – How do you quantify this?
2:32 – Every situation is different
3:45 – What really matters
6:55 – Planning
Learn more about our financial workshops: https://johnsonbrunetti.com/financial-workshops/
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
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Estate planning can be difficult enough on its own but what happens when you’re hesitant to leave behind a large sum to a child who might be lacking financial responsibility. This challenge is the focus of the latest episode of the Money Wisdom podcast with Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP®. They tackle a common concern shared by many parents: ensuring their wealth is managed wisely after they're gone.
Here’s what we discuss in this episode:
0:00 – Intro and question
0:47 – Common situation for families
2:06 – Types of accounts matter
4:50 – Ways to lower taxes
6:01 – Will vs trust
9:04 – Next steps
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
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The reality of taxes in retirement starts to become more evident the closer you get, and it’s not uncommon for people to wish they had contributed more to a Roth while they were saving. Having those tax-free withdrawals in retirement is wonderful, so what can you do if you find yourself in this position?
That’s the question we’re going to tackle in our latest Money Wisdom question series. Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® will break down the Roth conversion and discuss the factors you need to weigh before deciding to convert any money. With it being the end of the year, this is the perfect time to be having this conversation.
If you want to learn more about tax planning strategies, make sure you get a copy of the "Are You Paying Too Much in Taxes in Retirement?" booklet. Text the word OFFER to 800-757-0436 to get a complimentary copy. This guide can help retirees assess their tax situation and explore strategies to optimize their savings.
Here’s what we discuss in this episode:
0:00 – Intro
0:54 – Today’s question
1:39 – What is a Roth conversion?
2:57 – How to get money into a Roth
4:34 – Main consideration
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
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Investors will often use target date funds in a retirement account because they’re easy to use and align with the goal of retiring at a certain time. Is it really that simple or can you find alternatives that will provide better results for what you want to accomplish?
In the latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® take on another listener's question about the effectiveness of target date funds for retirement planning. As retirement approaches, many individuals are faced with the decision of whether to invest in these funds or move that money somewhere else.
For those interested in learning more about 401k strategies and retirement planning, we strongly suggest picking up the "Ultimate 401k Guide" by Eric Hogarth, CFP®. This guide offers insights into how 401ks work and provides practical advice for optimizing retirement savings and all you have to do is text GUIDE to 800-757-0436.
Here’s what we discuss in this episode:
0:00 – Today’s question
1:23 – Investment goals
2:52 – What target date funds do
5:55 – 401k accounts
8:05 – Retirement account types
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
Check us out on YouTube: https://bit.ly/3CcAzai
Life insurance has a clear role within a financial plan, but is it worth keeping a policy once you’ve reached retirement and don’t have as much of a need for income replacement?
In the latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® tackle a listener's question about the necessity of life insurance in retirement. We’ll work through the complexities of life insurance policies and discuss the considerations that could help you make informed decisions about your policy.
Want a copy of The Money Map? Text MAP to 800-757-0436 to get one.
Here’s what we discuss in this episode:
0:00 – Intro
0:50 – Today’s question
2:00 – The need for life insurance
4:35 – Types of insurance
6:40 – Considerations
9:09 – Aligning your planning
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
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Managing your money in retirement is much simpler when you don’t have to debt to account for, but there are times when debt isn’t necessarily a bad thing. In this week’s Money Wisdom question series, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® tackle a listener's question about whether it's wise to carry debt into retirement. This discussion addresses the pros and cons of carrying debt into retirement, particularly focusing on mortgages and home equity lines.
Here’s what we discuss in this episode:
0:00 – Intro
1:19 – Today’s question on debt
1:46 – Good debt vs bad debt
3:11 – Threshold for good debt
6:30 – Debt in retirement
Text KIT to 800-757-0436 to get your ‘Are You Ready to Retire’ Starter Kit!
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Many retirees make the decision to move in retirement but should no income tax be the main reason for relocation? While it might save you money in taxes, the move might not benefit you as much as you think. In this episode of the Money Wisdom Podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® talk taxes in Massachusetts and Connecticut and the considerations that go into moving to another state in retirement.
Text KIT to 800-757-0436 to get our ‘Are You Ready to Retire?’ Starter Kit
Here’s what we discuss in this episode:
0:00 – Intro
0:52 – Reasons people move
2:47 – Ask yourself these things
3:59 – Taxes in Massachusetts
7:20 – Millionaires tax
9:51 – What to think about
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As life gets busy, it’s not uncommon to lose track of old financial accounts, especially if you've switched jobs multiple times. When someone leaves an employer, that old 401k will stay where it is unless you do something with it and it’s easy to forget about. But did you know that rediscovering this "found money" could significantly impact your financial future?
In the latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® share guidance to anyone who has ever stumbled upon an old 401k.
Here’s what we discuss in this episode:
0:00 – Intro
1:56 – Forgotten 401k
6:08 – The Ultimate 401k Guide
7:07 – Why you might not want to move the money
For those looking for more in-depth guidance on managing their 401k, we offer a valuable resource: "The Ultimate 401(k) Guide.” Just text the word GUIDE to 800-757-0436 to get a copy. This guide provides a comprehensive overview of the pros and cons of different retirement account options, helping you make informed decisions about your financial future.
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All of the back and forth is finally over and the election results are in. Donald Trump will take office for a second term and it’s already having a big impact on the market. The news is all over everyone’s feeds and our clients are asking us what this means for them.
We know the campaign trail is fraught with promises, empty or otherwise, on both sides. But will the reality be moving forward? How will a new administration impact the economy, taxes, the stock market, future generations, and other areas of planning? Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® react to the news and discuss what we know and don’t know as we begin thinking through planning decisions.
No matter how you feel about how the election turned out, it’s time to move forward and control what you can. Tax planning will continue to be incredibly important, which is why we will provide you with the booklet "Are You Paying Too Much in Taxes?" This resource aims to equip listeners with the knowledge and tools needed to navigate their financial future confidently and all you have to do is text OFFER to 800-757-0436.
Here’s what we discuss in this episode:
0:00 – Intro
2:33 – Taxes
3:25 – What’s next?
6:53 – Tax planning strategies
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Building a solid income plan is a foundational piece of retirement planning and there are a variety of ways to create those income streams. One product that often comes up during meetings is the annuity because of its ability to produce guaranteed income to replace your paycheck, but is it a good choice for your portfolio?
Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® join the Money Wisdom podcast to dive into a question we received: a friend told me that I should think about an annuity for retirement income. What do I need to watch out for with these products while I'm shopping around? If you're considering annuities as part of your retirement strategy, this episode is worth watching.
Here’s what we discuss in this episode:
0:00 – Intro
1:29 – Today’s question
3:20 – Types of annuities
5:22 – Goals for your money
6:47 – Other considerations
Get a copy of the ‘Are You Ready to Retire?’ starter kit by texting the word KIT to 800-757-0436.
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In a world where financial stability is paramount, many individuals are seeking ways to make their savings work harder without compromising on safety and liquidity. That’s why we want to tackle today from someone trying to generate greater yield: how can I earn more interest on $120,000 sitting in a bank account while maintaining safety and liquidity?
Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® join the Money Wisdom podcast to discuss various options, such as money market funds, short-term CDs, and fixed annuities, and emphasize the importance of aligning financial decisions with personal goals and overarching plans.
Here’s what we discuss in this episode:
0:00 – Intro
1:20 – Today’s question
2:30 – The why
3:22 – Goals for this money
4:55 – What options do you have?
7:06 – Tax considerations
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Retirement is a significant milestone in life, and preparing for it requires careful planning and strategic financial management. Knowing when to dial back the risk in your portfolio can help protect your portfolio and keep you on track in retirement. In the latest episode of the Money Wisdom podcast, financial planners Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® answer a question about when to adjust your investment strategy as you approach retirement.
Here’s some of what we discuss in this episode:
- The differences between investing and saving for retirement versus investing and saving in retirement.
- What sort of qualities do your investments need to hold in retirement?
- Structuring plans from an investment standpoint based on risk tolerance.
- Planning can help you identify how much risk you need to take and determine whether you can dial it back.
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The one constant in financial planning is change, especially when it comes to tax laws. The government is always adjusting tax laws and they’ve recently made some changes to the rules around retirement accounts. For people that have been saving for retirement, it’s important know how these changes will affect you and your family.
In this episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® tackle the intricate subject of inherited IRAs and the ever-evolving tax laws that accompany them. As tax regulations change, it's crucial to stay informed and prepared to handle the financial implications that arise when inheriting retirement accounts.
Here’s some of what we discuss in this episode:
- The changes made to the stretch IRA that will force you to pay taxes on that money much sooner.
- Why does Uncle Sam require a minimum distribution on inherited IRAs?
- How this changes the legacy planning portion of our conversation with clients?
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Nearly everyone we talk to wants to know when is the ideal time to take Social Security, and that’s a natural question because they’ve been paying into it for a very long time. Clients not only want to start getting that money out but want to do it in the most efficient way so they can maximize their benefit.
Making the decision about when to start taking Social Security benefits is one of the most crucial financial choices you’ll face as you approach retirement. In this episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® take you through the process for making this decision and how we approach it with our clients.
Here’s some of what we discuss in this episode:
The key ages for Social Security.
The viability of the system and the benefits.
One of the biggest questions we get asked is about break-even points.
Why taking them sooner might allow you to enjoy the money and continue to grow your assets for your heirs.
The other factors that play into your decision.
To aid in this decision-making process, Johnson Brunetti offers a helpful booklet on Social Security decisions. You can get your hands on this resource by texting the word "social" to 800-757-0436. This booklet can provide you with the information you need to make an educated choice about when to start taking your benefits.
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Most of the content we focus on for the podcast is stuff that can benefit people anytime they listen, but this week we want to focus more on the present and the pressing financial topics that everyone is thinking about. To help you better understand what is worth paying attention over the next four to six months, Nicholas Colantuono, CFP® joined the Money Wisdom podcast to discuss current economic trends.
Here’s some of what we discuss in this episode:
- The stock market continues to be volatile but will things change as we get to the election and past it.
- The conversations we’re having with clients about interest rates and what to expect.
- The world we live in has gotten more and more expensive and it has led to personal debt soaring.
- What is happening in the job market?
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One of the benefits of working with an experienced financial advisor is being able to lean on their years of working with retirees to help you avoid the same mistakes that many other people have made. We shared five of the most common planning missteps on our latest episode of Money Wisdom with Nicholas J. Colantuono, CFP®.
Here’s some of what we discuss in this episode:
- Why you can’t ignore the future tax implications of your retirement savings.
- What considerations you need to make before you decide when to take Social Security.
- Don’t focus on returns rather than income during retirement.
- Why you shouldn’t be taking financial advice from your friends and family.
- People will swing way too far one way or the other when it comes to risk.
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Hopefully all business owners enjoy the day when they can cash out on their hard work and spend time however they choose. If you’re fortunate enough to be in the position to sell your business for a nice lump sum, let’s make sure that money turns into sustainable income for your retirement. In the latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® answers a question we received from a business owner who wants to know the best way to do that.
Here’s some of what we discuss in this episode:
- The challenges facing business owners (or anyone) when they receive a big pile of money.
- Investment strategies should focus on three primary characteristics.
- What you need to consider before you build an investment strategy.
- How to be as tax-efficient as possible with your planning.
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Most people are focused on their family when it comes to planning, and there are some primary issues that need to be addressed ahead of time. In the latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® joins the show to tackle critical issues head-on. This episode offers a wealth of knowledge on managing finances in challenging times and ensuring a secure financial future for your loved ones.
Here’s some of what we discuss in this episode:
- The financial problems people face when they lose their spouse.
- How planning today can help solve the income gap problem you might face in the future.
- Many people overlook taxes when planning for kids and grandkids.
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It might seem a bit counterintuitive to hear reasons why you shouldn’t be putting money into your 401k, but there are times when it makes more sense to allocate that money elsewhere. In our latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® will explore scenarios where a 401K might not be the optimal choice.
Here’s some of what we discuss in this episode:
- Build up your emergency fund before you focus on locking money away in a retirement account.
- How are you addressing each potential financial pitfall and doing it in a healthy, holistic way?
- If your employer doesn’t match your 401k, you might have better investment options outside of it.
- Future tax rates might make you rethink tax-deferred contributions.
- Why you might not want to leave money in a 401k when you change employers.
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We’ve seen some turbulence in the market recently and that’s a time when fear begins to drive some investor decisions. It’s natural to let emotions creep in, but proper planning should help you maintain the right perspective on your investments. Even with the right planning, we’ll still hear from some clients who have questions or concerns. In our latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® joined the show to share some of the responses we get from clients during volatile times and discuss our approach to navigating the ups and downs.
Here’s some of what we discuss in this episode:
- The responses we typically get from clients when the market is up and down.
- When we might make changes to your investments in times of volatility.
- Our role when someone feels like they can’t handle a bad week or bad month.
- Should you pull back on 401k contributions when the market is down?
- Is there ever a time to panic?
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When you think about the bad habits that could negatively impact your finances, things like credit card debt and overspending your budget come to mind. Those are obvious ones, but we want to shine a spotlight on some of the most common financial bad habits that many people unknowingly practice. These habits, while seemingly minor, can have a significant impact on your financial health and future.
Nick Colantuono, CFP® joins the Money Wisdom podcast this week to discuss these habits that we want to help you avoid. Check out the show to learn how to identify and break these habits to ensure a more secure financial future.
Here’s some of what we discuss in this episode:
- What you need to know about your account statements and why they can be valuable.
- Emotional decisions will often weigh you down and lead you in the wrong direction.
- It’s easy to fall back on procrastination when you don’t want to address an area of your finances.
- Long-term planning gets pushed back because it doesn’t seem necessary today, but it’s essential for protecting everything you’ve worked for.
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It’s a gold medal edition of the podcast this week as we take a unique approach to financial planning by drawing parallels with the Summer Olympics. Nick Colantuono, CFP® joins the show to share insights that can help you navigate your financial journey with the precision and skill of an Olympic athlete.
Here’s some of what we discuss in this episode:
- Why a plan has to be built to last for decades rather than years and how you can account for inflation.
- Planning for financial emergencies.
- Ways to identify the hidden fees in your portfolio.
- The foundational elements to building a successful plan.
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We’ve all had an idea that we acted on without giving it much thought. That’s fine when you’re choosing dinner or picking out new socks, but it’s not the best approach to managing your finances.
In the latest episode of the Money Wisdom podcast, Matt Pastor, RICP® tackles the topic of "half-baked" financial ideas. These are the types of decisions that might seem clever at first glance but can have significant negative consequences if not thoroughly thought through.
Here’s some of what we discuss in this episode:
- Why signing your house over to your kid(s) while you’re still alive might not be the best plan.
- Starting your Social Security as early as possible while you’re still working could cause you to lose some of your benefits.
- Converting all of your IRA money into a Roth at the same time.
- Why you might not want to cancel your life insurance once you’re retired.
- Investing your emergency fund money to get a better return.
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Inherited IRAs can be a financial lifeline, but they come with their own set of complexities, especially with the rule changes introduced in 2020. If you've recently inherited an IRA or are planning for the future, understanding these changes and how to manage your inheritance effectively is crucial. In our latest episode of Money Wisdom, we sat down with Heath Grossman, CFP® to break down the ins and outs of inherited IRAs and offer strategies to minimize your tax burden.
Here’s some of what we discuss in this episode:
- An explanation of an inherited IRA and how it’s different than a regular IRA.
- What changed with the rules around an inherited IRA in early 2020?
- What it means for Required Minimum Distributions.
- When would it be logical to withdraw the entire inherited IRA in year one?
- When would it make sense to wait as long as possible to take the money out?
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It’s human nature to want to play the comparison game to find out how you stack up, especially when it comes to your finances. All that really matters is that you’re in good shape for the life that you want to create for yourself. But the comparison game is helpful for us to better understand our clients and their needs.
In our latest episode of the Money Wisdom podcast, Heather Atkins, CFP® shared some fascinating research focused on the financial planning needs of single women. Heather has spent time meticulously gathering data on 50 of our clients, all of whom are single women—either divorced, widowed, or never married. This episode is packed with insightful revelations that can empower women in similar situations to take control of their financial futures.
Here’s some of what we discuss in this episode:
- Why Heather did this research on female clients and what she wanted to learn.
- What does the monthly income look like for this group of women?
- The exercise Heather does with clients to calculate their expenses.
- What did we find when it came to homeowners versus renters?
- Breaking down income and net worth and sharing her findings.
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Have you ever dreamed of spending your golden years in a country abroad? The idea is becoming increasingly popular, but it comes with its own set of challenges and considerations. Luckily, we have the one and only Eric Hogarth, CFP®, here with us today to talk about some of the practical steps you’ll need to take to make this exciting idea a reality.
Here’s some of what we discuss in this episode:
- The financial and legal considerations of living in a new country
- Researching and experiencing the day-to-day living conditions
- Renting in your desired location for an extended period before committing
- Having conversations with your partner about what you want to do in retirement
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When people compare financial firms, they often focus on getting the best return on their investments. While that's certainly important, what they really need to be paying attention to is the big picture. While many firms focus only on investment management- handling stocks, bonds, and mutual funds- our approach extends to include insurance planning, investment strategy, legacy planning, and tax planning. In this week’s episode of Money Wisdom, Nicholas Colantuono, CFP®, joins us to talk about the role of tax planning in a comprehensive financial strategy.
Here’s some of what we discuss in this episode:
- The importance of comprehensive financial planning beyond investment management
- The three types of accounts from a tax perspective: taxable, tax-deferred, and tax-free
- Strategies and pitfalls associated with each type of financial account
- Considerations for tax-efficient retirement planning, including the impact on income, Medicare premiums, and future tax rate changes
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Are you familiar with the term ‘moving the goalposts’? It happens when people change or adjust their targets after they’ve already been established, which is something that happens all the time with finances. Many people set financial goals or deadlines, only to find themselves shifting those targets, often to their detriment. This episode of the Money Wisdom Podcast with Jake Doser, CFP®, CPWA® sheds light on why it's essential to establish a solid financial plan and stick to it.
Here’s some of what we discuss in this episode:
- What we tell people who set goals for cash but keep changing the amount they set aside.
- Pushing your savings goals back to prioritize other things then you don’t have a plan.
- Greed often drives us to take on more risk when we’ve already established goals to scale back at a certain point.
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Financial planning is intricate and filled with potential pitfalls and mistakes that can have long-lasting impacts on your future. In the latest episode of the Money Wisdom podcast, Matt Pastor, RICP® breaks down the most common ways people make financial mistakes and provides valuable insights on how to avoid them.
Here’s some of what we discuss in this episode:
- People who don’t seek out help when they should have, especially for big financial decisions like pensions and Social Security.
- Examples of how listening to the wrong people can lead you astray.
- Don’t make decisions too quickly without thinking through the options and consequences.
- Procrastination and dragging your feet on decisions can be costly as well.
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Life is full of unexpected twists and turns, and some of these can have a significant impact on our financial well-being. Whether it's changing jobs, going through a divorce, receiving an inheritance, or dealing with the death of a spouse, each of these major life events requires careful financial planning. Heath Grossman, CFP® joins the Money Wisdom podcast to explore the essential financial considerations for these pivotal moments.
Here’s some of what we discuss in this episode:
- When you change jobs, you should pay attention to decisions about health insurance, retirement accounts, and rollovers.
- Why a Rollover IRA is usually a good decision for old accounts.
- What you need to be thinking about financially if you go through a divorce.
- Receiving an inheritance comes with some tax implications you should know about.
- The biggest financial challenges that you deal with after the loss of a spouse.
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Losing a spouse is one of the most challenging experiences one can face. The emotional toll is immense, and the financial implications can be equally daunting. In our latest episode of Money Wisdom, Eric Hogarth, CFP® joins the show to offer insights and practical advice to help those navigating life after such a significant loss.
The stark reality is women are statistically more likely to outlive their husbands, which underscores the importance of financial planning tailored to the needs of surviving spouses, particularly women. We’ve had experiences with people that were well-prepared and able to embrace life after their spouse passed but others who really struggled with the change.
Here’s some of what we discuss in this episode:
- Examples of clients who have been widowed and life never was the same.
- Examples of clients who have been widowed but were still able to prosper after.
- The two or three main issues that people have to deal with when losing a spouse.
- How we approach our conversations about this topic when it’s difficult to face.
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When it comes to financial planning, there are a few documents that are absolutely critical for ensuring that your affairs are in order, especially in unforeseen circumstances. One such document, which often doesn't get the spotlight it deserves, is the power of attorney (POA). In the latest episode of Money Wisdom, Heather Atkins, CFP®, CRPC®, discusses the importance of this legal instrument, particularly for women.
Here’s some of what we discuss in this episode:
- Why power of attorney might impact women more than men.
- What can someone who has a power of attorney do or not do.
- A story about one of our clients and how power of attorney came into play.
- Examples of issues that arise if you don’t have a power of attorney in place.
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The financial planning calendar has its busy seasons. Things are typically busier at the beginning of the year for tax planning and towards the end of the year as people try to figure out what they need to get done before December ends. During the summer, there aren’t any deadlines necessarily so we’ll see things slow down a bit, and that’s a great time to take a closer look at your estate plan.
In this episode of the Money Wisdom podcast, Nicolas Colantuono, CFP® makes his first appearance on the show to talk about the importance of estate planning regardless of how much money you’ve saved or how many assets you own. Many of us dismiss it as something only the wealthy need to worry about, but we’ll dispel this myth and explain why it applies to everyone, regardless of their net worth.
Here’s some of what we discuss in this episode:
- Our process for helping clients with their estate plan.
- The differences between a will and a trust.
- A big part of estate planning is making your estate more tax efficient.
- The alarming number of people who don’t even have a will.
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The beauty of financial planning is that we can shift and make adjustments as life changes, but there are some decisions that aren’t reversible. From the moment you claim your Social Security to the type of pension benefits you choose and the life insurance policies you secure, every choice can dramatically alter your retirement landscape. On this week’s Money Wisdom podcast, Jake Doser, CFP® sheds light on the irreversible decisions that shape our financial future.
Here’s some of what we discuss in this episode:
- What you need to consider before claiming Social Security
- Weighing the spousal benefit option for a pension.
- You can always get life insurance and then cancel it but if you wait too long it won’t be an option.
- How do you decide on a retirement date?
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Are you standing at financial crossroads, pondering whether to stay with your current financial advisor or venture out in search of new pastures? Sometimes the grass appears greener in another pasture, but when are your concerns justified enough to make a change?
In our latest podcast, Matt Pastor, RICP® joins the show to dissect the 'grass is greener' syndrome that plagues many in the world of wealth management. We want to cut through the noise and offer clarity and a dose of reality to anyone who's ever second-guessed their financial advisory relationship.
Here’s some of what we discuss in this episode:
- Should you change advisors if they make a mistake that costs your money?
- What if you aren’t able to communicate directly with your advisor because they grow too big?
- How much weight should you put into dinner seminars and the impression an advisor makes?
- Conversations we have with clients who come in to meet with us about possible changes.
- If you or your advisor move to a different state, does that impact the relationship?
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Retirement is a milestone that many of us look forward to, but it comes with its own set of uncertainties. How do we plan for a future when we don't know how long we'll live, what the stock market will do, or the political landscape that will shape tax laws? The latest episode of the Money Wisdom podcast addresses these questions head-on.
Heath Grossman, CFP® joined the show this week to discuss the complexities of retirement planning with a focus on the unpredictable. When you look at uncertainties of planning, preparing for longevity, navigating stock market volatility, and anticipating changes in tax legislation are a few of the key challenges we have to address.
Here’s some of what we discuss in this episode:
- One of the biggest uncertainties in retirement is longevity.
- How do you invest not knowing what the stock market is going to do year to year?
- Do future elections matter in retirement planning?
- Will Social Security be around for you in retirement?
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In the latest episode of the Money Wisdom podcast, hosts John Stillman and Jake Doser, CFP®, serve up a delicious 'acronym salad'—a mix of financial terms that often leave even the savviest investors scratching their heads. If you’ve ever stopped to think about what an acronym meant, this episode will help clear up some of the jargon. No matter how experienced you are with money, these acronyms can still cause plenty of confusion that these acronyms can cause.
Here are some of the acronyms we discuss in this episode:
- ETF
- RMDs
- CFP
- CPI
- HSA
- FSA
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Have you ever wondered how becoming a grandparent might change your perspective on money and legacy? The latest episode of the Money Wisdom podcast features Joel Johnson, CFP, who has recently become a grandfather for the second time. His insights into the financial planning world, coupled with his new role in the family, provide a unique and heartwarming perspective on managing wealth for future generations.
Here’s some of what we discuss in this episode:
- What are some things Joel wants to do with his grandsons that he never thought doing with his sons.
- The best approach for helping grandchildren with educational expenses and whether a 529 plan is the best route.
- How do you approach your legacy plan when you have significant assets to pass along.
- Situations where parents have ruined their kids with the way they’ve approached finances.
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Have you ever chuckled at the antics of Michael Scott on 'The Office' and thought, "What does this have to do with my financial future?" Well, it turns out, quite a bit! On the latest episode of the Money Wisdom podcast, hosts John Stillman and Matt Pastor, a Retirement Income Certified Professional on our team, take you on a delightful journey where sitcom laughs meet serious financial strategy.
Here’s some of what we discuss in this episode:
- Why you shouldn’t rely solely on the internet for financial advice.
- What approach should advisors take when it comes to communicating with clients.
- Financial jargon is the inside jokes of the financial world and we don’t want to keep clients out of the loop.
- How do you manage life away from work and the people you’ve spent so many hours of the day with.
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We’re in the middle of another election year in our country and regardless of your politics, there’s always a little concern over the uncertainty of who will take office and how will markets react. People ask all the time about the impact election years have on investing and whether they should be looking to make changes. We are all driven by emotion as humans so it comes as no surprise that this can be a volatile time, but will it be?
In this episode of the Money Wisdom podcast, Heath Grossman, CFP® puts the emotions aside to take a look at what history shows us about returns when different parties are in office.
Here’s some of what we discuss in this episode:
- Put aside bias and emotion and let’s look at the reality of financial returns during election years.
- What should investors focus on in an election year as it relates to investments?
- The noise surrounding elections heightens anxiety so we want to try and block that out.
- We can’t predict what the market will do but we can prepare for every outcome to put you in the best position possible.
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The bond market is often touted as a haven for investors seeking stability and safety. Yet, as with any investment, it is fraught with nuances that can make the difference between a secure addition to one's portfolio and one with unexpected downside. To help provide clarity on bonds and how they play into an investment portfolio, Jake Doser, CFP® joins the podcast to provide a foundational understanding for investors looking to harness their potential.
Here’s some of what we discuss in this episode:
- Bonds can mean many different things so how do we define it?
- The difference between individual bonds and bond funds.
- How do bonds lose money and why did things get so bad in 2022?
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
Financial planning for retirement is a crucial process that requires a strategic approach to ensure long-term security. All too often, however, people will get in their own way and make mistakes that were completely avoidable. In this week’s podcast, we’re going to talk about the most common examples of this with the guidance of Eric Hogarth, CFP®.
Here’s some of what we discuss in this episode:
- Getting caught up in the greed and fear cycle of the stock market and chasing more money than you need to.
- Why people make bad investment choices just to save money in taxes in the short-term.
- People will leave too much money in cash because they put off making a decision on what to do with it.
- Are you overthinking your financial plan to the point that you fail to make decisions at all?
- Don’t blindly trust financial advice from people that aren’t financial professionals.
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We’re in the middle of tax season and many people are still getting their paperwork together and wondering about ways to save money on last year’s taxes. The good news is there are ways to potentially save on your taxes even though we’re in a new year, and today we’re going to talk about how with Matt Pastor, RICP® on our latest podcast. This conversation is particularly beneficial for individuals who have just realized their oversight in contributing to their Individual Retirement Account (IRA).
Here’s some of what we discuss in this episode:
- Why it’s common for people to not be aware of this IRA option and what you need to know about contribution amounts.
- Should you put money into those retirement accounts or is it better to use elsewhere?
- How significant could the tax savings be over time?
- Where do you find the balance between liquidity and adding to retirement accounts?
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
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When you find yourself amidst a career transition, be it by choice or circumstance, the path forward can seem fraught with financial uncertainty and healthcare coverage concerns. It's a time when the right advice can make a world of difference, which is why we brought Jake Dozer, CFP® onto the podcast to help navigate this stressful time.
Whether you're considering a shift to a new industry, pondering semi-retirement, or stepping into the realm of self-employment, it's essential to have a strategy that supports both wealth and health, and we’ll cover that in this episode.
Here’s some of what we discuss in this episode:
- The workforce changes we’ve seen in Connecticut over the past 18 months.
- The trends we’ve seen from our clients as it relates to work in retirement.
- Weighing the option to become self-employed.
- What health insurance options do you have when you’re in between jobs.
- Is this a good time to do a 401k rollover?
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There were a lot of things that were different back then, for maybe past generations, than they are for people retiring today. So we're going to talk about how things are different now than they used to be.
Gone are the days when retirees could rely solely on pensions and Social Security. Today, proactive planning is crucial for a sustainable financial future. The episode with Eric Hogarth, CFP®, highlights that Social Security was never meant to be the only source of income in retirement. With life expectancies increasing, the need for a robust strategy that accounts for a longer retirement phase is more important than ever.
Here’s some of what we discuss in this episode:
- How planning has changed with pensions becoming rarer every year.
- As longevity increases, how does that impact Social Security and other aspects of planning?
- Lower interest rates on savings and fixed-income investments complicate income generation.
- Estate planning considerations you need to think through.
- Financial literacy is even more difficult as the investment landscape gets more complicated.
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We have a very timely conversation today as tax season is upon us once again and getting organized is top of mind. Either you're really happy with yourself because you already got your tax return done and filed and don't have to worry about it anymore, or you're still collecting documents and just worrying about it in general. Even if you’re getting a tax refund, you might still worry about doing taxes. It's just not a fun process for most people. So we wanted to talk with Heath Grossman, CFP®, about what you can be doing to make this tax season as smooth as possible for yourself.
Here’s some of what we discuss in this episode:
- What’s the easiest way to start getting last year’s tax return together?
- Start thinking about what has changed from last year to this year.
- How does tax planning differ from tax preparation?
- What kind of things are you doing during the tax planning process?
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As market uncertainty looms, the question that plagues every investor's mind is when to overhaul their investment portfolio. The upcoming year looks like it could be filled with volatility once again, so how should your investments be positioned?
In our latest podcast, we featured Matt Pastor, RICP to discuss investment strategies and unpack the critical decision-making that comes with adjusting your assets in response to market shifts. With the focus on avoiding the classic blunders of buying high and selling low, Matt shed light on the importance of a proactive approach over a reactive one, especially as you sail towards the golden years of retirement.
Here’s some of what we discuss in this episode:
- The goal in planning is to be proactive and not react to what’s happening in the market.
- What are some times where we felt the need to overhaul a portfolio?
- An example of a time someone thought they needed to overhaul their portfolio but we explained why they didn’t.
- The planning strategies we discuss with clients when constructing an investment plan.
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Planning for a fulfilling retirement is a significant life milestone, representing the culmination of years of hard work and the dawn of a new, exciting chapter. But retirement planning goes beyond just financial security. It is a holistic process that also involves emotional well-being, nurturing social connections, and the pursuit of purpose.
In our latest podcast, Eric Hogarth, CFP® joined the show to discuss the approach to retirement when people are prepared and have a vision for what they want it to look like versus those that don’t have any idea. The vast majority of people we work with fall into that latter category, which is why we wanted to spend some time outlining the importance of knowing what you want the next chapter of life to look like.
Here’s some of what we discuss in this episode:
- How we take a retirement vision and build a plan to help make that happen.
- Fewer than 10% of people have a clear vision of what they want retirement to look like.
- An example of someone who is ready to retire but don’t what they want to do in retirement.
- Having the financial piece of retirement figured out frees people up to set goals and dreams for retirement.
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We’ve all opened up a statement and seen the retirement income that’s projected from that account. Not every account has it but most do. The question is how much can you trust that number and can you base a retirement plan on what you see?
Retirement planning can be a daunting task, with numerous variables and uncertainties that can make or break your financial future. Understanding the intricacies of income projections and tailored strategies is essential to secure a comfortable retirement, and we brought Jake Doser, CFP® onto the podcast to help explain these projections a bit more.
Here’s some of what we discuss in this episode:
- How reliable are these projections?
- The income analysis we do with each client to help provide a more realistic projection.
- The variables that these projections aren’t able to factor in.
- How we approach conversations with people who aren’t in good shape for retirement.
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
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As women approach retirement age, it's crucial to understand the nuances of Social Security and its impact on long-term financial health. On our latest podcast featuring Heather Atkins, CFP®, CRPC® we will shed some light on this topic, focusing on why women tend to claim Social Security benefits at 62 and the implications of such decisions.
Here’s some of what we discuss in this episode:
- Why are so many women starting their Social Security at the earliest age?
- What’s wrong with taking the benefit at 62?
- How does the earnings test work and how does it apply to your benefits?
- An example of when waiting until 70 might be the wrong decision.
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
When it comes to retirement, understanding Required Minimum Distributions (RMDs) and staying ahead of them is important for financial success in retirement. In our latest podcast, Matt Pastor, RICP explains the intricacies of RMDs and sheds light on why early planning is essential.
Here’s some of what we discuss in this episode:
- How RMDs have changed in the last couple of years.
- What should you be thinking about if you’re turning 73 this year?
- The four primary options for how to use your RMD withdrawals.
- If you’re still a decade out, there are some tax planning conversations you should be having.
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
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Believe it or not, we still get a lot of questions about pensions. Just because there aren’t many private companies that are still offering pensions, there are still many people that had them at a job 20 years ago and they have a choice to make or they are retiring from a state employee job. Whatever the case, one of the questions that people are trying to work through is do I take the lump sum on this pension or do I take the monthly income for the rest of my life?
Heath Grossman, CFP® joins the podcast to walk us through that conversation because the answer won’t be the same for everyone. It needs to be a part of the broader retirement income plan and we’ll share a look into how to determine the best answer for you and your family.
Here’s some of what we discuss in this episode:
- What type of person would benefit from the lump sum over the monthly payout and vice versa.
- How to utilize a hybrid approach to get the best of both worlds.
- Pension plan payouts are different and that could impact the decision.
- How does the interest rate environment change the decision?
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Let’s talk a little bit about a fun topic that we haven’t covered on the podcast much in the past, which is buying cars. Pretty much everyone has a driver’s license and uses a car so it’s a topic that impacts most people. More importantly, buying a car is a large financial decision and making a smart purchase could save you significant dollars over time.
We brought Eric Hogarth, CFP® back onto the show to discuss the car-buying process and some of the things that you need to consider before you sign the check on your next car.
Here’s some of what we discuss in this episode:
- Paying cash for a car vs financing a car.
- When is it appropriate to buy a new car over a used one?
- When does it make sense to lease instead of purchase?
- A story about a client buying cars and how it fits into an overall plan.
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
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When it comes to investing, one of the most common concerns is how to achieve 'reasonable returns,' particularly as retirement approaches. The term 'reasonable' can be quite subjective and varies greatly from person to person. It's influenced by individual risk tolerance, financial goals, and the stage of life you're in. In the recent podcast episode of Money Wisdom, Jake Doser, CFP® will unravel the complexities behind crafting a personalized investment strategy that ensures retirement readiness without unnecessary risk.
Here’s some of what we discuss in this episode:
- Why the question is important and some background on what goes into the answer.
- How do you come up with your number?
- Why two households with the same assets might need two completely different plans.
- How do you come up with this number when you can’t predict what’s going to happen the next decade?
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Picking from a lunch menu will often give you the option to choose two items from a group. You might pick soup and a sandwich or a salad and a sandwich, but you just can’t select everything off the menu. That’s very similar to the investment world when you’re choosing between safety, growth, and liquidity. Designing an investment plan requires you to pick the two that you want to achieve so let’s talk about which investments help you achieve each of these.
Here’s some of what we discuss in this episode:
- Examples of investments that gets you safety and growth and why you might use them.
- The stock market is going to give you growth and liquidity at the expense of safety.
- How can you achieve safety and liquidity?
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If you ask most people, they will tell you they’re excited for the day they can leave work and head into retirement. And while that’s a valid feeling, many of those same people aren’t prepared for life after a career that’s been at the core of their daily routine for decades. Whether you’re selling a business, retiring, or moving out of one career for another, let’s talk about the psychology of this life change and how it impacts people.
Here’s some of what we discuss in this episode:
- The two main things people struggle with are purpose and fear.
- Why the first year is the hardest after a business owner sales his company.
- The psychology of changing jobs and moving into a different industry.
- What you need to know before selling your business.
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
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You’ve probably heard about reverse mortgages and might even be considering one in retirement. It’s not a question we get all the time but it’s one where somebody is seriously considering it by the time they ask us to weigh in on it. In this episode of the podcast, Jake Doser, CFP® helps us better understand this product and why someone may or may not choose to use one.
Here’s some of what we discuss in this episode:
- What is a reverse mortgage.
- How reverse mortgages have changed over the past few decades.
- The scenarios that often lead people to shopping for a reverse mortgage.
- An example of a time where a reverse mortgage makes perfect sense.
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
Part of managing your finances and making the best decisions for retirement is understanding how to best utilize the assets you have in your possession. One of the largest accounts most people have is their 401k and it’s impossible to ignore if you need to make larger purchases. But is it a bad idea to take out a 401k loan?
Here’s some of what we discuss in this episode:
- The mechanics of a 401k and how it works.
- Why we generally tell people this is a bad idea.
- What can go wrong with a 401k loan.
- How do the taxes and interest work with the 401k loan.
- The opportunity cost to taking a loan out of your 401k.
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
We’re with Matt Pastor, a financial advisor on our team, to talk about life insurance and the need for it in retirement. Once you’ve earned enough to take care of your family and the kids are through college, do you still need to carry that policy? This is a great question and the answer will vary from person to person depending on your needs.
Here’s some of what we discuss in this episode:
- Some of the considerations we make with life insurance in retirement.
- A case where we would tell someone they probably need to keep life insurance.
- Can life insurance help replace a pension?
- How can you use life insurance as an income strategy?
- If you have a policy now, what should you do?
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
Those final years leading up to retirement can be an incredibly exciting time but they can also stir up a little nervous energy. Have you done everything you need to? What should you be thinking about right now? In our latest podcast, we talked with Eric Hogarth, CFP® about the five years before retirement and what you need to do during that time.
Here’s some of what we discuss in this episode:
- The small steps we take with a client who is preparing for that retirement day.
- Walking yourself through how much you plan to spend in retirement.
- Where’s the best place for you to live if your health care goes up?
- The common reasons we have to tell people they aren’t quite ready to retire.
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A question that many investors ask is whether they should be investing in ETFs or mutual funds. It’s a legitimate question because a lot of people don’t truly understand the difference between the two. In our latest podcast, we want to address the technical part of this question but do so with a less technical conversation.
Here’s some of what we discuss in this episode:
- What is an ETF and what is a mutual fund?
- Why pick one over the other?
- What do we typically choose for our clients?
- How much do you need to understand the nuances in these products when you invest?
- Will the marketing and branding of these investments change over time?
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
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The concept of financial legacy means different things to different people. Some people might hear that and think about their will or estate documents, but that’s not what we’re talking about here. This conversation will be a little bigger picture and a bit more philosophical.
Here’s some of what we discuss in this episode:
- What does it mean to Joel to leave a financial legacy?
- What kind of conversations has Joel and his wife had about this?
- Some of the financial legacy ideas Joel has picked up from peers.
- What should every family be thinking about?
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Today we’re going to talk about how to handle the taxation on stock that isn’t in an IRA and gets inherited. For example, let’s say someone bought 100 shares of Apple stock in 1987 and they leave it to their kids when they pass away. How are you taxed on this stock? To help us answer the question, we’ve brought on Jake Doser, a financial advisor at Johnson Brunetti.
Here’s some of what we discuss in this episode:
- How the step-up in basis works.
- The difference in proactive and reactive management.
- A few considerations to make in regards to taxes during income planning.
- How the brokerage account fits into the income plan for retirees.
- Why you don’t want to create a joint account with your child.
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
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Today we’re going to answer one of the two or three biggest questions that people tend to have about their retirement plan. As you look ahead to retirement and the largest expenses you might incur, long-term care will always be a part of that discussion. So does everyone need long-term care insurance?
This can be a broad conversation but it addresses one of the top concerns for retirees. For people that have planned properly and feel good about the income they have coming in for retirement, they want to identify areas where problems could arise and health issues and long-term care or assisted living is one of those areas that need attention.
We brought Heath Grossman, CFP® onto the podcast to help you understand the different aspects of this conversation that ultimately guide you to an answer to this important question.
Here’s some of what we discuss in this episode:
- What’s important is to understand that it’s about protection and preserving assets.
- You need to evaluate the cost of the insurance relative to the value of what you’re trying to protect.
- Using alternative insurance options or investment accounts to plan for long-term care.
- What are some other ways people protect their assets if they don’t have insurance?
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The question we hope to answer today is does everyone need a trust? It seems that many people confuse the purpose of a will and a trust, but they aren’t the same thing and we’ll clarify that. Plus we’ll tell you who needs a trust and what the primary purpose of using this instead of a will.
Here’s some of what we discuss in this episode:
- Why you don’t need a trust to keep your assets out of probate.
- Can you assume that a trust will help you bypass a lot of taxes you’re going to pay.
- Common cases where a trust makes a lot of sense.
- How would this answer differ based on the state you live in?
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When the market gets choppy and investors start to feel uneasy, it’s not uncommon to get questions about whether it’s a good time to buy gold or silver. Over time, there are different reasons that people would give for wanting to invest in precious metals, but should you be buying gold? Eric Hogarth, CFP® joins the show to help us answer that question.
Here’s what you can expect to learn in this episode:
- What’s the first thing Eric usually thinks when someone asks about gold?
- Why does the interest in gold usually come in waves?
- Why Eric prefers a securitized version rather than physical gold.
- How can you build an investment portfolio that reduces that volatility?
- Are annuities another good alternative to gold for a safer investment?
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
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The topic of Social Security comes up all the time in our office, especially when it comes to its future. Is it heading towards bankruptcy as some suggest, or is this an alarmist notion blown out of proportion? To answer these questions and more, Certified Financial Planner® Heath Grossman joined the podcast to offer his perspective on the much-debated future of Social Security.
Here’s what you can expect to learn in this episode:
- While it’s not necessarily sensationalized, Heath doesn’t believe it will go bankrupt.
- How Social Security pays out its benefits and why the fund is running out.
- Don’t let this concern lead you to take your benefits as soon as possible for that reason only.
- What are some of the things that could be done to fix the problem?
- Should you be prepared for the Medicare age to rise as well?
- What are the things we can control related to planning and Social Security?
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The world of Social Security benefits can be complex, particularly when it comes to understanding the taxation associated with these benefits. In this episode, we’re going to tell you how we’d get to the answer and give you a better idea of how much taxation will impact your benefits in retirement.
Here’s what you can expect to learn in this episode:
- How do you go about finding this number?
- The different tax thresholds and what that means to your benefits.
- Why you should take advantage of those windows in time where you’re paying little in taxes.
- Why Roth conversions could benefit you a lot when it comes to the taxes you’ll have to pay on your Social Security.
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
We want to be as efficient as possible with our retirement accounts to give us the best chance to grow our money and provide the income we need for retirement. That’s why many people ask about rollovers and whether it makes sense to do that with their 401k. Let’s talk about who might and might not benefit from a rollover and the options you have for your old 401k accounts.
Here’s what you can expect to learn in this episode:
- The different qualifying events that usually make people consider the rollover.
- Why would you want to do a rollover in the first place?
- Assuming you’re eligible, why wouldn’t you want to roll the money over?
- What option do you have if you want to retire before 59 and a half if you don’t want to move all the money out of your 401k.
- The fear or apprehension that comes with moving money out of a 401k.
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Most people are familiar with target date funds, although they might not necessarily know them by that name. Your 401k plan might have a different name for it like a lifecycle fund, but regardless of what it’s called, it continues to be a popular investment choice. Let’s talk today about whether target date funds are a good way to invest for retirement.
Here’s what you can expect to learn in this episode:
- How target date funds were first created.
- The effectiveness of these funds for someone in their 20s versus someone in their 50s.
- An example of a time where we found target date funds weren’t what someone needed in their retirement plan.
- Why most people aren’t paying close attention to the performance of their target date funds.
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In the fast-paced world we live in today, financial planning has never been more critical. It plays a significant role in helping us manage our resources, meet our financial goals, and secure our future. This importance becomes even more apparent when it comes to women, given their longer life expectancy and unique financial challenges.
That’s why we talk specifically about financial planning for women and why it’s something we focus on. To help us understand this better, we asked Heather Atkins, CFP® to join us for this episode because she is keen to these issues that women face.
Here’s what you can expect to learn in this episode:
- Financial planning and empowerment for widows and how you can get ahead of decisions to avoid added stress in times of grief.
- Situations we’ve seen where widows needed help navigating a precarious financial situation.
- Why longevity is a primary driver of the challenges women will face financially.
- What all needs to be included in a proper financial plan to make sure needs are taking care of if someone passes.
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
Do you think there is a universal age to start Social Security? Have you ever wondered how your health history, longevity, and family history play into your decision on when to turn on your benefits? Let’s delve into this critical question in retirement and help you understand how we help our clients determine what age they should claim Social Security.
Here’s what you can expect to learn in this episode:
- How we address this topic when the question comes up.
- Longevity is the key factor but can you rely on your family health history to project that?
- How this discussion fits into the overall planning process for retirement.
- Hear an example where it made sense to turn on Social Security at age 62 and another where 70 was the best age.
- When does it make sense to delay Social Security even after you’ve retired?
- The opportunity for a Roth conversion in your mid to late 60s.
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We’re in the middle of one of the largest wealth transfers in our country’s history as Baby Boomers pass on their estate to loved ones, and some of that money is coming in the form of an IRA. Rules regarding inherited IRAs have changed in the past few years so let’s take a few minutes to tell you what you need to do if you receive one.
Here’s what you can expect to learn in this episode:
- Certain people are able to take over the account as their own without any rules.
- For most people, you are going to have 10 years to withdraw all the money in the inherited IRA.
- Why tax planning becomes so important for those receiving the inheritance.
- How have the rules changed on inherited IRAs in the past few years?
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Contact our team: https://johnsonbrunetti.com/contact-us/
Many people will use retirement accounts like the 401(k) to save money, but we often get asked about the amount they should be contributing each month. Should it depend on what your company matches or should you just put as much as you can afford in regardless? Let’s dig deeper into this question and tell you what we like to consider when answering this question.
Here’s what you can expect to learn in this episode:
- The different questions we typically ask someone to determine how best to use a 401k.
- Are there instances where you shouldn’t put money in a 401k even if there’s a company match?
- When would you only want to contribute enough to get the company match but no more?
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When we talk about having a strategy for Social Security, it’s because the SSA isn’t going to point you toward the option that will pay you the most. It’s on every individual to understand the benefit options available and find the path that will help you get the most out of your retirement income. One of those options is the spousal benefit so let’s talk about what it is and who is eligible.
Here’s what you can expect to learn in this episode:
- How spousal benefits work and how much you receive.
- What happens to the benefits when a spouse passes away?
- Options for paying for emergency medical expenses.
- What specialties should you expect from an advisor?
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
Anytime a sentence begins with, “Well I heard,” it gets our attention because you never know what someone is about to ask us. People are bombarded by suggestions and recommendations every day so it’s no surprise that people always bring new ideas or beliefs to a meeting. We’re going to share some of these things people commonly hear and help explain why they don’t always apply to you.
Here are some of the things we discuss in this episode:
1:06 – You need to have at least a million dollars to retire
3:27 – You should start Social Security as early as you can
4:48 – The market is going to tank because [insert reason here]
6:16 – I should try to keep the house in divorce because it will comfort me emotionally
7:33 – Soon the dollar won’t be the world’s reserve currency anymore
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Housing will always be one of the biggest pieces of the financial plan, but we’re getting a lot of questions from retirees about what to do with their home now that they’ve retired. There are four main options that most people choose from so let’s explore those today and discuss the pros and cons of each decision.
Here are some of the things we discuss in this episode:
- 0:55 – What you need to weigh when staying in your current home
- 3:04 – Should you downsize?
- 6:31 – Pros and cons of retirement communities
- 8:23 – Does it make sense to become a renter?
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
One of the most popular shows of the last few years has been Ted Lasso with Jason Sudeikis playing that heartwarming coaching role, and most people have watched some or all of the comedy series. Today we’re going to pull out some of our favorite Ted Lasso quotes and put a financial spin on them. Don’t worry, no spoilers!
Here are some of the things we discuss in this episode:
1:27 – Ted Lasso quotes and financial planning
10:19 – A Woman’s Word with Heather Atkins: Long-term care
15:28 – Retirement assumptions you can’t always make
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To celebrate another Father’s Day weekend, we decided to work in some dad jokes into the podcast. Who doesn’t love those, right? So join us for a few laughs (we hope) and more importantly, some financial wisdom.
Here are some of the things we discuss in this episode:
1:01 – Joke #1: Where does 007 invest his money?
2:29 – Joke #2: What did the duck say after going shopping?
7:14 – Joke #3: Why did the woman go outdoors with her purse open?
9:10 – Joke #4: Why are Irish bankers so successful?
12:12 – On the case with Heath: Pensions
16:27 – How high on the list is long-term care on retirement issues?
20:13 – Mailbag question about taking care of parents financially
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Contact our team: https://johnsonbrunetti.com/contact-us/
Part of being a good financial advisor is helping people navigate what can be awkward and uncomfortable situations in life related to their money. After working with hundreds of clients over the years, we’ve encountered quite a few of these situations. So how do we approach these moments? Let’s talk about what that looks like and what kind of conversations we’ve had for certain scenarios.
Here are some of the things we discuss in this episode:
- 0:51 – When a client wants to remove a child as a beneficiary.
- 2:47 – Working with a couple that is going through divorce.
- 5:50 – Dealing with someone who is very emotional during a meeting
- 7:41 – Client makes a very embarrassing financial decision.
- 12:45 – Mythbusting with Matt: Shifting from stocks to bonds removes volatility
- 17:36 – Mailbag question on organizing finances after becoming a widow
- 19:23 – Mailbag question on 529 plans vs loans
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Contact our team: https://johnsonbrunetti.com/contact-us/
So much about life is having the right perspective and the same can be said about the scenarios that feel like a true crisis. Through proper retirement planning, many of the events that feel like a negative in your life could actually provide you with an opportunity instead. Today we’re going to look at a few examples of this and tell you where to find the silver lining.
Here are some of the things we discuss in this episode:
3:23 – The crisis of becoming an empty nester
4:26 – How a market crash could become an opportunity
6:06 – Turning a layoff into a positive
9:58 – CEO’s Corner: Financial conversations with our employees
21:28 – Mailbag question on working until you’re 70
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Contact our team: https://johnsonbrunetti.com/contact-us/
For many people, the 401(k) is an easy account to manage. The money comes out of your paycheck before you get the chance to spend it so it’s like you never had it in the first place. That makes it a great tool for retirement savings but because it’s so painless, people often ignore it more than they should.
But your 401(k) deserves attention and there are certain considerations you need to make before deciding if and how much you’re contributing to this retirement account.
Here are some of the things we discuss in this episode:
1:07 – How much do you need liquid assets?
2:25 – Know what your employer contributions are
4:48 – Make sure you know the future tax implications
5:43 – Don’t forget about ‘orphaned money’
7:48 – Is it fake, Jake? US economy too good to be true?
13:41 – A Woman’s Word: Mistakes women make
20:12 – Mailbag question on the next stock market crash
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Contact our team: https://johnsonbrunetti.com/contact-us/
Today we’re going to talk through some hot topics, picking through recent communication with clients over the last several months. There are some recurring themes that a lot of people are asking about right now so let’s take some time to address them all right here on the show.
Here are some of the things we discuss in this episode:
0:53 – Should we be making investment changes in this current economic environment?
3:08 – With long term care insurance premiums going up, should we cancel the policy?
4:37 – How much of your inheritance should you set aside for taxes?
7:00 – On the case with Heath: Estate planning
13:05 – Mailbag question on selling your home to rent in retirement
14:37 – Mailbag question on Rule of 100
15:57 – Mailbag question on financial issues for a second marriage
17:00 – Myth busting with Matt: Social Security will run out of money
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Contact our team: https://johnsonbrunetti.com/contact-us/
In honor of the NFL Draft just wrapping up, we thought we’d do a little drafting of our own on the podcast. So we’ve asked Eric Hogarth, CFP® to put on his General Manager shoes and lead our retirement planning team into a financial draft. Find out which products make the grade and which get left behind.
Here are some of the things we discuss in this episode:
1:11 – The Roth IRA is a first round pick
1:58 – Gold and precious metals are a pass.
3:18 – Life Insurance Retirement Plan or LIRP
4:41 – The variable annuity
6:37 – Indexed annuity gets a good grade
8:04 – Rental properties are a second round pick
12:23 – CEO’s Corner: How does Joel consume news?
21:32 – Mailbag question on how much of your annual salary you need saved.
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Contact our team: https://johnsonbrunetti.com/contact-us/
We know you count on your financial advisor to shoot you straight and tell you what you need to hear rather than what you want to hear. That’s what we’re going to do on this episode as Eric drops a few financial truth bombs on us and provides us with a retirement reality check.
Here are some of the things we discuss in this episode:
3:22 – Bonds aren’t always as great for retirees as a lot of people might think.
4:32 – Income tax rates are close to historical lows.
5:35 – The hardest part of investing is managing your own behavior.
8:27 – Is it fake Jake? Experts say 2023 will be a year of economic pain.
12:30 – Mailbag question on helping children with buying a house.
14:01 – A Woman’s Word: Longevity risk
19:54 – Mailbag question on paying for college.
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
Periodic reviews with certain clients can look very different from reviews with others. We’ve worked with just about every type of personality through the years so let’s talk about how our conversations might sound depending on who we’re meeting with for a review.
Here are some of the things we discuss in this episode:
1:02 – Clients that always need us to explain something again
2:07 – The client that is positive about everything
3:12 – The client that never wants to come into the office to meet.
4:30 – The person with a great new idea or something always happening
5:45 – The person that’s always worried about everything
8:44 – On the case with Heath: Getting too enamored with one product
12:44 – Mailbag question on bank failures
14:14 – Mythbusting with Matt: Social Security is its own independent decision
19:47 – Mailbag question on retiring early
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Contact our team: https://johnsonbrunetti.com/contact-us/
Like anything else in life, financial planning is much easier to do in hindsight. We all have a few (or more) decisions we’d like to go back and change if we could. Let’s talk about a few of the regrets people are probably coming to terms with today.
Here are some of the things we discuss in this episode:
- 1:16 – Did you miss the long bull run following 2008 because you were too worried and conservative?
- 3:32 – Not understanding how much risk you had until 2022 hit
- 6:36 – Regretting starting Social Security too early
- 11:10 – CEO’s Corner with Joel Johnson – Advice he’d give his younger self
- 19:43 – Mailbag question on what to do with excess income in retirement
- 21:48 – Mailbag question on raising your savings goal because of retirement
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
Money and finances can be difficult topics to discuss, but it is an essential conversation that needs to take place with children. With the proper guidance, your child will learn key lessons about money management and develop healthy financial habits. In this episode, Joel will share his family's approach to helping his children learn about important financial topics.
Here are some of the things we discuss in this episode:
0:56 – Applying Steve Martin quotes to financial planning
6:18 – Is it fake, Jake? Hedge funds are cautious
10:40 – Maibag question on helping with childcare expenses
13:04 – CEO’s Corner with Joel Johnson: Behavior with money
20:49 – Mailbag question on large Roth conversion amounts.
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
Different stages of life bring different challenges, and people nearing retirement often make some of the same mistakes with their money time and time again. As a pre-retiree, it's important to understand that your financial plan needs to be tailored around the goals you have for retirement. Let’s take a look at some of the classic mistakes we see people make.
Here are some of the things we discuss in this episode:
1:05 – How is our financial life like a closet?
2:56 – What are the first steps you can take to start getting organized?
5:56 – Money Map retirement review details
7:34 – On the Case with Heath: When refinancing doesn’t make sense
12:49 – Still investing like you were 20 years ago
14:20 – Starting Social Security without a strategy
16:45 – Mythbusting with Matt: Financial planning is much easier today
20:48 – Mailbag question on managing an old 401(k)
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
In nearly all of the retail, restaurant and hospitality world, the old saying is that “the customer is always right.” But when it comes to financial planning, it’s probably not wise to subscribe to that idea. What’s the point of having a financial coach if your advice is better than your coach’s advice? Let’s talk about some statements you might hear from clients that might require you to push back because the customer isn’t always right.
Here are some of the things we discuss in this episode:
1:05 – When someone says, “Now is the time to get into or out of the market.”
2:24 – “This is what I want to invest in. I just need you to pick the exact funds for me.”
3:07 – When someone doesn’t want to spend money on a certain product or investment.
4:21 – When someone makes up their mind on an investment strictly based on fees.
5:42 – “My accounts are down right now so I don’t think this plan is working.”
8:12 – A Women’s Word with Heather Atkins: How women approach investing.
13:57 – Mailbag question on saving strategies close to retirement
15:30 – CEO’s Corner with Joel Johnson – The labor market
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Contact our team: https://johnsonbrunetti.com/contact-us/
A lot of people were probably pretty well prepared for the downturn in 2022, but that doesn’t mean there wasn’t any uneasiness along the way. If you didn’t fall into that group of people who were ready, let’s talk about what you can do to change that before the next downturn.
Here are some of the things we discuss in this episode:
1:22 – Always have an understanding of the risk you’re exposed to
2:47 – Protecting gains as you go
4:05 – Are you diversified enough?
5:49 – Don’t panic when the next crash comes
8:45 – On the Case with Heath: Underfunded retirement
14:33 – Mailbag question on rental income
16:50 – Mailbag question on funding a wedding
19:12 – Is it fake, Jake? Gold could rise dramatically
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When it comes to money, people often make excuses for why they can't save or spend wisely. It's easy to make up a story about why you aren't able to do enough from a financial planning standpoint, but our attitudes often impact our success with money and in life. Let's look at some of the common excuses we hear and how they could impact retirement.
Here are some of the things we discuss in this episode:
1:09 – “I never had anybody teach me about money so I made a lot of mistakes.”
3:28 – “I’m just not good with money.”
4:26 – “We’re going to have a recession soon so I guess there’s nothing I can do.”
5:54 – “You have to have a million dollars to retire so I guess I have a long ways to go.”
9:34 – A Women’s Word with Heather Atkins – Financial focus during a divorce
14:49 – Mailbag question on where to contribute after maxing out 401k.
16:22 – Mailbag question on starting a business later in life.
18:23 – Mailbag question on pushing back Social Security.
19:44 – Mythbusting with Matt Pastor – There’s a perfect time to start collecting Social Security
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As we move a little further away from 2022, we start to get a little more information and data on what a very weird year it turned out to be. So many different factors played into the negative results we saw in the market, and we watched people handle that volatile year in a variety of different ways. Let's take a look at some fo the different emotions that manifested themselves over the course of the last year due to the down market.
Here are a few of the things we discuss in this episode:
1:23 – The fear and panic people felt while the market was turbulent.
2:46 – Anger for a number of different reasons
4:13 – Is it possible to be blissfully ignorant during down markets?
5:28 – Some people view this time with an opportunistic perspective.
7:55 – On the case with Heath Grossman, CFP® - A tax-free Roth conversion
12:54 – Mailbag question about having too much money in the bank
14:51 – CEO’s Corner with Joel Johnson
21:53 – Mailbag question on Social Security and income limits.
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While it’s said that genius is a natural and innate ability, there are certain traits or habits possessed by geniuses that we can learn from. These qualities, when applied to financial planning, can help you make the most of your money while protecting yourself from future economic uncertainties.
Here are a few of the things we discuss in this episode:
1:15 – Geniuses are highly adaptable.
3:41 – Geniuses actually understand how much they don’t know.
5:19 – Geniuses learn from the mistakes of others.
9:40 – Is it Fake Jake? A looming economic hurricane?
13:38 – Mailbag question on retirement living options.
16:22 – Mailbag question on justifying private school tuition.
19:20 – Mythbusting with Matt – Lower tax brackets in retirement
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Secure Act 2.0 is the most recent amendment to the Secure Act of 2019, and it promises to have a major impact on retirement planning. This new legislation contains a long list of provisions and changes, but we've identified a short list that will impact many people preparing for retirement. In this episode, we'll take you through those four changes and explain how they might affect your financial future.
Here are a few of the things we discuss in this episode:
- 1:15 – RMD age pushed back again to 73 and eventually 75.
- 3:09 – Special catch-up contribution
- 4:31 – Opportunity to move money from a 529 to a Roth
- 6:27 – Getting a company match by paying off student loans
- 10:24 – CEO’s Corner with Joel Johnson on early retirement
- 17:11 – A Women’s Word with Heather Atkins
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Is the end of social security near? Evidence suggests that, while it is not likely to disappear soon, its long-term outlook is uncertain. Social security benefits have been decreasing over time and are inadequately funded. So what will the future hold for this important piece of retirement income? We'll address that along with two questions from the mailbag on travel expenses and dividing an estate.
Here are a few of the things we discuss in this episode:
0:17 – I put off a trip to Europe for many years and now I wonder if it’s a wise use of money. What if I end up needing nursing home care later?
2:47 – What’s the best way to keep your children from having disputes over your estate?
4:32 – Is it fake Jake? The looming depletion of Social Security and Medicare.
6:40 – How do politicians manage the future of Social Security?
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Retirement brings with it an exciting time of life, but also the challenge of figuring out how to make ends meet in retirement. Retirement income is an important factor in planning for retirement and there are many options available to ensure that retirees have the funds they need. From Social Security, pensions, and lump sums, you need to know how it all fits together in the most tax-efficient way possible.
Here are a few of the things we discuss in this episode:
0:14 – Should I retire in 5-6 with a pension or retire now with a severance package and pension buyout?
1:32 – I’m retiring this year and will have about 18 weeks of vacation and sick leave to get paid out for. Should I wait an extra month and retire in January instead of December for tax reasons?
2:45 – We’re building our dream home and will move in the next year or two. Should we keep our current house as a rental property or sell it and invest the cash?
4:50 – Will gold rise dramatically in a short period of time?
9:16 – Get your questions answered through your Money Map review
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Investing your money can be a scary thing, especially when you don't feel like you have a good handle on the terminology and concepts. Many people turn to financial advisors to help guide them through their investments, but it's important to make sure that they are actually helping rather than hurting. Let's talk about a few scenarios where your advisor might be naughty or nice.
Here are a few of the things we discuss in this episode:
1:00 – How should your advisor be handling meetings with the client?
2:46 – If an advisor tells you they have an asset minimum, but is this actually nice?
4:28 – Should your advisor go ahead and make investment changes for you?
6:04 – On the Case with Heath
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The financial world is full of complexities, and it can be hard to keep up with all the nuances. However, there are some aspects that are often overlooked or underrated in terms of their importance. Here we will discuss three things that should be appreciated more in the financial world.
Here are a few of the things we discuss in this episode:
0:39 – Why liquidity is important for a retiree?
1:47 – Why don’t we appreciate predictability more?
3:06 – The beauty of simplicity in a financial plan.
5:46 – Mailbag question on Roth conversion amounts
6:59 – Mailbag question on rolling over an old 401(k)
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When it comes to financial strategies, there are three that might not be as advantageous as you might think: tax advantages, rates of return, and commission-based investment accounts. In this episode of the podcast, Eric Hogarth, CFP® will explain why.
Here are a few of the things we discuss in this episode:
1:51 – Are tax advantages overrated?
4:20 – What states do people in New England move to in retirement?
5:57 – Story about a conversation we had with a client recently
7:34 – Are rates of return overrated?
9:38 – Are commission-based investment accounts overrated?
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On today’s episode, we’ll dive into the mailbag to answer a few financial questions that we’ve been asked recently. The topics we’ll tackle today are what to do with old IRAs, rolling over retirement accounts, and Social Security benefits for ex-spouses. If you’ve been curious about any of these financial planning items, then you’ll want to listen to this show.
Here’s are the seven sins we discuss in this episode:
1:55 – Mailbag question 1 – Should I cash out an old IRA?
3:22 – More accounts doesn’t mean more diversification
5:02 – Mailbag question 2 – Is it okay to do a rollover now and in the near future or all at once?
6:48 – Mailbag question 3 – Can I collect on my ex-husband’s Social Security benefit?
7:40 – Why you want to get the Money Map retirement review
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Let’s take a little different approach to the financial discussion today and look at how the seven deadly sins can apply to your planning. Not only should you be avoiding these sins in your personal life but also in a financial context as well.
Here’s are the seven sins we discuss in this episode:
2:30 – Pride
3:59 – Envy
5:22 – Wrath
6:46 – Greed
8:31 – Laziness
10:178 – Gluttony
12:13 – Lust
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We often only deal with an inheritance a few times during our lifetime, so it's little surprise that we get questions about receiving and leaving an inheritance. In this episode, Eric Hogarth, CFP® will address the major inheritance questions that are out and highlight some of the mistakes that are commonly made.
Here’s what we discuss in this episode:
0:50 – Tax implications of the money you inherit
2:28 – How SECURE Act changed inheritances
4:50 – Estate planning mistakes we commonly see
6:19 – How we can help you with an inheritance
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
The start of a new year always provides a chance for reflection and opportunity to reset goals for the next 12 months. Today’s episode will do both of those things as Eric highlights the biggest financial takeaways from a volatile 2022 and lays out a checklist of action items for 2023.
Here’s what we discuss in this episode:
0:38 – Stocks and bonds drop in 2022
2:43 – Mortgage rates doubled in 2022
4:01 – Bitcoin had an awful year in 2022
6:09 – Gas prices soared in 2022
7:46 – On the Case with Heath Grossman, CFP® - Sequence of returns risk
16:45 – New Year Checklist – Tax withholdings
17:57 – New Year Checklist – Retirement account contributions
18:56 – New Year Checklist – Gather all your tax info
19:30 – Mythbusting with Matt
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When you think about financial planning, you might not realize that your childhood can have a big impact on your current finances. Eric Hogarth, CFP®, explains how our upbringing can influence our money decisions later in life. Understanding these money triggers can help us make more conscious choices about our spending and saving. Join us to learn more about how your own childhood may be impacting your financial planning today.
Here’s what we discuss in this episode:
1:22 – Those who lived through the Great Depression
4:29 – People that grew up very poor
9:09 – Growing up in a wealthy family
10:43 – The way families communicate about money
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Providing answers to your financial questions is one of the things we enjoy doing most each day and our podcast provides a great outlet for that to happen. On this episode, we’re going to take four questions on RMDs, savings, planning mistakes, and whether ETFs or mutual funds are the better investment.
Here’s what we discuss in this episode:
0:26 – Mailbag question on RMDs
2:44 – Mailbag question on keeping money in savings
4:18 – Mailbag question on retirement planning mistakes
7:27 – Mailbag question on ETFs and mutual funds
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
Are you ready to retire? Many people aren't sure if they are ready to leave their careers behind. In this blog post, we will discuss some of the reasons why people may not be ready to retire. We will also provide tips on how to overcome these challenges and make the transition to retirement easier. So, if you are thinking about retiring soon, be sure to listen to this episode.
Here’s what we discuss in this episode:
0:42 – Bigfoot news
2:27 – “I don’t want to retire”
3:53 – They’d be bored if they retired.
5:41 – They use this excuse as a defense mechanism
7:29 – Lack of confidence
9:45 – Eliminate the anxiety through planning
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
In times like these when the stock market is tumbling over an extended period of time, we often get calls and questions from people about what they’re most concerned about. It’s natural to be worried or fearful when account values are dropping, but that’s a time when you can lean on your advisor. Let’s talk about the guidance we provide during volatile markets and what you should be paying the most attention to moving forward.
Here’s what we discuss in this episode:
0:42 – The questions and concerns we’re hearing right now
3:57 – What investments strategies can you use in these markets?
7:25 – Why do look at the mark in two extremes?
9:11 – Mailbag question on where to pull money from to invest
13:31 – The Money Map Retirement Review
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
We’re right in the middle of football season and many people are spending lots of time on the weekend following their favorite team. Since it’s fresh in our minds, let’s see if we can’t get a little financial value out of what we’re watching. On this show, we’re going to take some strategies from the game and apply them to our financial planning.
Here’s what we discuss in this episode:
1:00 – The Financial Red Zone
3:17 – The hurry-up offense
5:08 – Victory Formation
7:03 – Good coaches do make a difference
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
Most people think of their home as their largest asset. But for retirees, that may not be the case. In fact, your retirement savings may be your biggest asset. And it's important to manage those assets carefully in order to ensure a comfortable retirement. In this episode, we will discuss some tips for managing your retirement savings wisely.
Here’s what we discuss in this episode:
0:52 – The 401(k) account
1:55 – How the house fits into planning
3:25 – Your Social Security
5:44 – Future savings potential
7:16 – All of your smaller accounts
9:22 – Mailbag question on 401(k) rollovers
10:46 – Mailbag question on getting married a second time
12:48 – Mailbag question on inherited IRAs
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
The humor of Jerry Seinfeld has held up extremely well over time and reading through some of his quotes always provides a good laugh. Today we’re going to take some of the more notable quotes and apply them to financial planning. Your first reaction might be to say, ‘What’s the deal with that?’, but we think you’ll enjoy this light-hearted approach to highlight some important pieces of planning.
Here’s the rundown for this episode:
0:52 – Quote 1
2:00 – Quote 2
3:04 – Quote 3
4:23 – Quote 4
5:56 – Quote 5
Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/
Contact our team: https://johnsonbrunetti.com/contact-us/
Financial planning is one of the most important aspects of life. If you don't have your finances in order, it can be very difficult to achieve your goals. That's why it's important to ask questions when you’re unsure about something. On this podcast, we will answer three great questions about investing, supporting grandchildren, and Social Security.
Read more and get additional financial resources: http://johnsonbrunetti.com
Here’s what we discuss in this episode:
0:24 – Mailbag question on the stock market
3:47 – Mailbag question on helping support grandchild
6:52 – Mailbag question on Social Security
8:47 – How the Money Map review process helps these
Do you find yourself struggling to save money? Do you feel like you are constantly at war with your finances? If so, you are not alone. A lot of people have a hard time managing their money because they let mental blocks get in the way. In this podcast, we will discuss some of the most common mental blocks when it comes to money and how to break free from them.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
1:37 – The IKEA Effect
4:35 – Extreme optimism
6:10 – Extreme pessimism
7:45 – Bike shedding
10:13 – The Status Quo Bias
12:05 – How the Money Map review process helps this
Do you find yourself struggling to save money? Do you feel like you are constantly at war with your finances? If so, you are not alone. A lot of people have a hard time managing their money because they let mental blocks get in the way. In this podcast, we will discuss some of the most common mental blocks when it comes to money and how to break free from them.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
1:37 – The IKEA Effect
4:35 – Extreme optimism
6:10 – Extreme pessimism
7:45 – Bike shedding
10:13 – The Status Quo Bias
12:05 – How the Money Map review process helps this
Your financial advisor should be there to provide you with the necessary information, guidance, and support to help you towards your retirement goals, and that means having tough conversations from time to time. On this episode, we’ll tell you about a few of the difficult discussions we need to have in order to build the best retirement plan for you and your family.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
1:23 – Eric’s thoughts on student loan debt forgiveness
3:58 – Discussing the death of a spouse
5:56 – What happens if nursing home care is needed
7:46 – Telling someone they need to work longer than they planned
10:52 – Getting your children involved in the estate plan
12:52 – Separating from an advisor that doesn’t fit your needs anymore
15:41 – Mailbag question on charitable giving and taxes
17:19 – Mailbag question on how to utilize extra income
19:22 – Top Money Map review questions we get
It’s easy for someone to take flying for granted but so much is happening behind the scenes to ensure a safe arrival to the destination. Much of the same can be said about financial planning as well. Today we’ll explore a few of the similarities between flying and retirement planning.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:51 – You need a flight plan
2:12 – Even autopilot needs to be reviewed
3:51 – Turbulence affects us all differently
6:18 – Air traffic control
7:31 – Mailbag question on 401(k) with former employer
10:30 – Constants in retirement: inflation
13:46 – Planning for healthcare
16:46 – The variable of taxes
18:06 – Variable of life expectancy
19:09 – Variable of Social Security
It’s easy for someone to take flying for granted but so much is happening behind the scenes to ensure a safe arrival to the destination. Much of the same can be said about financial planning as well. Today we’ll explore a few of the similarities between flying and retirement planning.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:51 – You need a flight plan
2:12 – Even autopilot needs to be reviewed
3:51 – Turbulence affects us all differently
6:18 – Air traffic control
7:31 – Mailbag question on 401(k) with former employer
10:30 – Constants in retirement: inflation
13:46 – Planning for healthcare
16:46 – The variable of taxes
18:06 – Variable of life expectancy
19:09 – Variable of Social Security
We all intend to be great investors but things often don’t go as planned. If you look at some of the worst investors out there, you’ll start to find some recurring traits and some mistakes that show up a lot. Hopefully you aren’t guilty of any of the ones we talk about on this episode.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
1:27 – Trying to get rich fast
2:39 – Operating without any cohesive plan.
4:11 – Having a herd mentality rather than thinking independently.
4:58 – Focusing on the short term or always looking back
6:28 – Focusing on areas you can’t control
8:03 – Taking market losses personally
9:18 – Not being honest with yourself
Retirees will come across all types of scenarios that can impact their finances, and we tackled a few of those on our latest podcast.
Eric Hogarth, CFP®, will take a few questions from the mailbag today that touch on Social Security, combining finances later in life, and annuities.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:22 – Mailbag question on starting Social Security
3:08 – Mailbag question on a second marriage and finances
4:44 – Mailbag question on annuities
The popular Aesop fables have been told for centuries as a way to teach important lessons. Many of those can be applied to our financial lives as well. Today we’ll take a couple that you might know and explain what they teach us about money.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
1:45 – The Miser and His Gold
6:50 – The Dog and His Shadow
9:58 – Why play a game that you’ve already won?
It’s time once again to open up the mailbag and get to as many of your questions as we can on this week’s episode of the podcast. We will touch on some great topics today like paying for home renovations, life insurance policies, and college funding options.
Today's show rundown:
0:22 – Mailbag question on paying for remodeling expenses
2:32 – Mailbag question on college funds for grandchildren.
4:28 – Mailbag question on life insurance
6:12 – Mailbag question on prospectus fine print
8:05 – Mailbag question on investing extra cash
To start your Money Map review process, visit us online: http://johnsonbrunetti.com
Today we’re clearing up some common beliefs about retirement and financial planning that just aren’t as true as you think.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
2:05 – Shifting from stocks to bonds removes volatility
3:25 – Life insurance is no longer necessary in retirement
4:40 – You’ll need less income while you’re retired
6:53 – You’ll be in a lower tax bracket when you retire
8:23 – Financial planning today is much easier to do without a professional
It’s time to open up the mailbag once again and answer the questions that are on your mind. Today’s episode will cover pension payments, paying off debt with retirement money, legacy planning, and changing financial advisors.
What we discuss in this episode:
0:24 – Mailbag question on pension payments
3:06 – Mailbag question on taking retirement savings to pay house
6:22 – Mailbag question on legacy planning
8:17 – Mailbag question on changing advisors
To take advantage of our Money Map review process, visit us online: http://johnsonbrunetti.com
While financial planning is crucial for people at all stages of their life, that final decade of your working career requires extra attention. This will be your chance to really drill down on where you stand and determine how to get where you want to go.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
1:12 – What’s important for you in retirement?
2:56 – Have most people thought through retirement?
4:13 – Know your numbers
7:20 – Getting a handle on healthcare
8:25 – Understanding how needs are going to change over time
The fortune cookie is a nice touch at the end of a good meal but how much value do you place on the words inside? Today we’re going to crack open some fortunes and find out what wisdom we can gain for our own financial plan.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
1:07 – Crisis is opportunity riding on a dangerous wind
2:20 – A feather in the hand is better than a bird in the air
4:18 – Accept something you cannot change and you will feel better
6:12 – The greatest danger could be your stupidity
7:59 – A foolish man listens to his heart
12:31 – Don’t let statistics do a number on you
14:00 – Hard work pays off in the future. Laziness pays off now
17:58 – Mailbag question on taxes on stock sales
19:35 – Mailbag question on homebuying budget
The fortune cookie is a nice touch at the end of a good meal but how much value do you place on the words inside? Today we’re going to crack open some fortunes and find out what wisdom we can gain for our own financial plan.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
1:07 – Crisis is opportunity riding on a dangerous wind
2:20 – A feather in the hand is better than a bird in the air
4:18 – Accept something you cannot change and you will feel better
6:12 – The greatest danger could be your stupidity
7:59 – A foolish man listens to his heart
12:31 – Don’t let statistics do a number on you
14:00 – Hard work pays off in the future. Laziness pays off now
17:58 – Mailbag question on taxes on stock sales
19:35 – Mailbag question on homebuying budget
Let’s say you’ve walked way from your job and started living life in retirement with your Social Security benefits, but a job offer that was too good to refuse suddenly showed up. How will this impact the benefits you’ve already claimed? We’ll tackle that question on the podcast today plus others on retirement withdrawals and divorce.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
1:16 – Mailbag question on Social Security
2:21 – So many Social Security considerations
4:35 – Mailbag question on paying a large tax bill
6:47 – Mailbag question on financial consequences of divorce
Let’s say you’ve walked way from your job and started living life in retirement with your Social Security benefits, but a job offer that was too good to refuse suddenly showed up. How will this impact the benefits you’ve already claimed? We’ll tackle that question on the podcast today plus others on retirement withdrawals and divorce.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
1:16 – Mailbag question on Social Security
2:21 – So many Social Security considerations
4:35 – Mailbag question on paying a large tax bill
6:47 – Mailbag question on financial consequences of divorce
Many times the worst mistake you can make is to not make a decision at all. That happens quite a bit with people, especially as it relates to money, so let’s talk about the reasons why people fail to make a choice and what you can do to overcome the inaction.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
1:16 – Too many decisions to make
3:26 – Too much research
4:49 – Too confusing
6:43 – Don’t like talking about money
10:50 – Traumatic life events
No matter how you define a recession, it’s time to take at your plan and see what actions might be needed. We’re getting questions about that like the one we’re going to address today. Plus, we’ll answer a question about childcare expenses and investing strategies.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:19 – Mailbag question on preparing for a recession
4:42 – Mailbag question about childcare expenses
7:59 – Mailbag question on investing options
Today is part two of our conversation with Heather Atkins, CFP®, CRPC®, to talk about women in our industry. She’s someone who has been a key part of our team and we wanted to spend some time understanding the challenges women face, why there aren’t more women in this profession, and what she believes makes a great advisor.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
1:24 – Differences in saving
3:34 – What is a fiduciary?
5:13 – Where to focus in your 30s and 40s
8:36 – Where to focus in your 50s
13:33 – Heather’s future as an advisor
We’re excited to welcome on one of our advisors today, Heather Atkins, CFP®, CRPC®, to talk about women in our industry. She’s someone who has been a key part of our team and we wanted to spend some time understanding the challenges women face, why there aren’t more women in this profession, and what she believes makes a great advisor.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:41 – How she got started in the business
4:15 – Studying finance in school
5:11 – Different cultures around money
6:52 – Educational workshops
8:54 – Working with couples
14:17 – Encouraging a spouse to get more involved
16:02 – Reasons women should be more involved
17:41 – Debt
20:49 – Differences in men and women viewing money
22:27 – Unrealized gains and losses
Each person views retirement through their own lens and creates their own definition of what financial security means. No matter how you view it, our goal is to help you build a retirement plan that helps you achieve the peace of mind you hope for. Let’s explore some of the ways we see people define financial security and what that means for planning.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
1:36 – ‘I don’t want to be a burden on my kids.’
3:01 – ‘I’ll never run out of money.’
4:16 – ‘I want to work part-time but not because I have to.’
5:17 – ‘Not having to choose between one thing or another.’
7:14 – ‘We don’t want to watch our account jump up and down.’
8:56 – How do you if you’re properly invested?
10:29 – Getting a Money Map review
No one is prepared to receive a medical diagnosis that someone close to you doesn’t have much longer to live, but it’s a reality some people have to face. Trying to manage the financial side of this extremely emotional situation can be a great challenge. Today we’ll talk about what factors to consider and how disability and Social Security can help provide support.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:19 – Mailbag question on disability options
2:02 – Why it’s important to be proactive
3:58 – Mailbag question on paying for extended college expenses
5:46 – Get your situation reviewed
Conventional wisdom can act as a great guide of us in life but that doesn’t mean that we can’t question commonly held beliefs. Today we’ll explore the conventional wisdom found in the financial world and explain why it doesn’t always align with where you need to go.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:51 – ‘You can’t go wrong with real estate’
4:54 – ‘A mortgage is always good debt’
8:32 – ‘Retirement is a chance to relax’
12:06 – ‘If your investments aren’t doing well, try something else’
13:25 – Money Map Review
We’re opening up the mailbag today and tackling three questions from listeners. If you’re thinking about changing jobs later in your career, a small business owner, or just worried about the state of the market, then this show will hopefully touch on something you’ve been thinking about.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:21 – Mailbag question on changing jobs
2:05 – Mailbag question on investing back into the business
3:38 – Mailbag question on market recovery
5:02 – Money Map Review
The great thing about facts is they remain to be facts even if you don’t wish to acknowledge them as such. Turning a blind eye away from the facts of retirement won’t make these truths disappear. It’s time to face them head-on and talk about what we can do to best prepare ourselves.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:46 – People are living longer
2:12 – It’s an active stage of life
3:01 – Healthcare costs rising faster than most things
5:54 – It’s a challenging investment environment
7:19 – You need a plan
8:47 – Making the conversation relaxed and easy
We might all be different when it comes to money, but there are certain things that we can all relate to. Let’s look at the areas of financial planning that we are all familiar with and discuss where people often go wrong.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:45 – Intro to the conversation
1:42 – Worrying about whether Social Security will last
2:44 – Not remembering someone’s name
3:44 – Thinking you have a high risk tolerance until the market crashes
6:07 – Procrastinating with your financial plan
You might have heard already that financial planning changes as you head into retirement and your goals shift, but does that mean you should get out of the market and move to cash? We’ll answer that question along with two others that came into the show recently.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:23 – Mailbag question about moving to cash
3:11 – Mailbag question on self-insuring
5:00 – Mailbag question on claiming Social Security
7:23 – Building a plan for you
Warren Buffett has become synonymous with successful investing and savvy decision-making, but he’s also authored some of the great financial quotes. Today we’ll share a few of our favorites and apply them to the retirement planning we do with clients.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:32 – Background on this discussion
1:07 – Quote 1
2:13 – Quote 2
4:55 – Quote 3
6:29 – A landscaping example
8:36 – Quote 4
9:38 – Quote 5
12:07 – Quote 6
13.30 – Money Map review
You’ve saved enough money and you aren’t passionate about the job you have but you aren’t ready to pull the trigger on retirement. What’s holding you back? Today we answer that question from a listener along with two more on investing and saving.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:20 – Mailbag question on should you retire
2:24 – Does clarifying finances free up the emotional side?
3:26 – Mailbag question on 401(k) rollover
6:23 – Mailbag question on saving and inflation
Everyone that thinks about retirement will have their own vision for what that will encompass and our job is to help craft a plan that will allow for those dreams to become a reality. Today we’ll run down the different types of retirement plans we often hear from people and what areas of focus come with each.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:50 – Nothing but fun mentality
2:43 – Want to do as little as possible and relax
4:59 – Time with family
7:31 – Want to keep working in retirement
9:20 – Don’t know what they’ll do with their time
11:45 – Defense mechanisms
13:19 – Money Map review
Depending on who you talk to, you might get conflicting advice on whether you should pay off a mortgage before retiring. There’s never one answer that applies to everyone, but one of the reasons people consider keeping the mortgage is to benefit from the tax deduction. Is that correct? We’ll explore that question and more on this episode.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:19 – Mailbag question on SIMPLE IRA
1:53 – Different types of employer accounts
5:15 – Mailbag question on having a mortgage in retirement
7:19 – Money Map retirement review
Everyone has something in finance that bothers them. It’s different from person to person but we all have to face these pain points and address them in retirement planning. Today we’ll identify the most common problem areas and what we do to help clients ease these worries.
Get your complimentary Money Map Review: http://johnsonbrunetti.com
What we discuss in this episode:
0:27 – Back from a Disney vacation
1:58 – Worry about running out of money
4:40 – Angst around taxes
6:10 – Fear about ending up in a nursing home
7:52 – Uneasiness about walking away from a paycheck
9:17 – Anxiety over an impending market crash
11:23 – Addressing these pain points
Starting a new job is an exciting life change that can bring about a lot of fresh opportunities, including the chance to begin new retirement account with the new employer. But what should you do with that 401(k) from your previous job? We’ll answer that question today along with another that recently came into the show.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:20 – Fact on IQ during stress
2:05 – Mailbag question on what to do with extra savings
4:18 – Mailbag question on rollover 401(k)
6:18 – Money Map retirement review
When it comes to managing your money, it’s important to take a level-headed approach and avoid emotional outcomes, but that’s always easier said than done. Let’s look at the mindsets you need to avoid when it comes to financial planning because these can derail your future if you let them.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:19 – Mailbag question on rollovers
3:33 – Dangerous mindsets – Complacency
4:39 – Overconfidence
5:58 – Fear
7:01 – Cynicism
8:25 – How to get help
Everyone has that one drawer in their house that seems to collect all of the things you think you might use one day but never do. Much like the random paper clips and old pens you’ll likely find, there’s also a financial junk drawer that we use to keep all of those old accounts and statements just in case we need them in the future. Let’s talk about how to clean out this drawer and make the most out of everything in our portfolio.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
1:22 – Mailbag question on IRA fees
3:49 – Old life insurance policy
5:33 – Outdated will or estate plan
7:03 – Social Security estimates
7:56 – 401(k) statements from old employers
9:00 – Savings bonds
9:48 – Random investments
11:09 – Help organizing this drawer
Receiving an inheritance can be a life-changing opportunity for many people, and you want to get as much out of that gift as possible. Join us today as we answer a question about different types of inheritance assets and what types of taxes are associated with each.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:19 – Question on inheritances
0:44 – IRA
1:30 – Non-qualified annuity
1:51 – Brokerage account
2:58 – Inheritance mistakes
4:54 – Question on Social Security
When the market is going strong and the economy is booming, you don’t find yourself worrying too much about your finances. But when times get a bit more challenging, like we’ve seen recently, doubt can start to creep in. Today we’ll tell you which questions you should be asking during difficult markets. Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
1:21 – Taking the right types of risk
3:02 – Right amount of risk
4:28 – Are you positioned to benefit in a bull market?
8:49 – What if it’s an extended bear market?
11:00 – Am I talking to the right people?
12:47 – How we make clients comfortable
Have you ever felt out of touch when you read or listen to financial news because you don’t completely understand the jargon being used? Don’t worry if you do because you’re not alone. Today we’re going to clear up a few of the common financial terms that you’ve probably heard but might not know what they truly mean.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:19 – In-service distribution
1:57 – Roth conversion
3:20 – ETF
6:16 – Fiduciary
9:14 – Money Map review
Just about everyone you ask would choose to retire early if given the option but that could mean any number of things. Early retirement comes at many different ages and depending on when you leave the workforce, it will require different planning needs. Let’s look at the key ages for retirement and the considerations that come along with each.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:30 – History lesson for the day
1:27 – What age is typical for early retirement?
3:05 – Before full retirement age
4:16 – Is retiring early usually realistic?
5:49 – Do they stay out of work force?
6:57 – Busy in retirement
8:24 – Challenges to retiring early
10:05 – How we can help determine your age
A question that we hear quite a bit is how much money should a person be saving every month? There’s a goal of 15% that might seem too lofty for many people, but is this the number you should be targeting? Today we’ll talk about building up savings ahead of retirement and which tools are best to do that. Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:18 – Mailbag question on saving
1:48 – Can you save too much?
3:53 – Cultivating a savings mindset for your children
5:59 – Mailbag question on saving beyond a 401(k)
7:30 – Money Map retirement review
The stock market has been in a state of volatility for much of the past two years but it seems like that uncertainty has ramped up even more in recent months. When we get into one of these up-and-down environments, what’s the best way to invest your money without taking on too much risk?
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:32 – Volatility in the stock market
2:46 – Index funds safer?
4:48 – Strategies for diversification
6:57 – Is your advisor focused on planning or selling?
8:50 – How our process has evolved
12:35 – An overview of our process
So many retirees today fall into a new category called the ‘sandwich generation’ because they’re in the middle of supporting both their own children and their aging parents. How do you know what you can afford to provide and when it starts becoming a risk to your own retirement?
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:19 – Mailbag question on helping parents and children
2:04 – Advice for providing for adult children
5:19 – Mailbag question on real estate investing
7:08 – Money Map retirement review
As travel begins to open up more and more across the country, people are headed back to airports to visit friends and family and quickly reminded about many procedures that need to be followed. Today we’ll help you make the most out of your next trip to the airport by looking at the comparisons to your financial plan.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:19 – Reaction to a volatile week in the market
3:04 – Items you can’t take on the plane
5:33 – TSA pre-check
8:16 – Gate number and changes
11:08 – Overpaying at the airport
13:17 – Money Map review process
Today we’re opening up the mailbag for three financial questions many people will find helpful. Join us as we discuss the requirements for withdrawing inheritance money, why a Roth conversion might make sense, and how to prepare for a forced retirement.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:25 – Mailbag question on inheritance withdrawals
1:57 – Question on Roth conversions
4:50 – Question about preparing for forced retirement
7:11 – Money Map retirement review is concise and simple
No matter who walks into our office to build a financial plan, there will always be a set list of items that need to be addressed. But from there, the rest of the plan could account for any number of individual scenarios. Today we’ll look at a few of the unique situations that don’t come up for every plan and share our approach to working through them.
Read more and get additional financial resources: http://johnsonbrunetti.com
What we discuss in this episode:
0:19 – Welcome Eric Hogarth, CFP®
2:17 – The age gap
4:27 – Early retirement
7:19 – Lack of liquidity
11:00 – Planning after divorce
12:49 – How we can help
There’s a lot of money being made in the tech industry right now so what should you do if you find yourself in a position with a lot of excess money? We’ll answer that plus discuss the factors that go into deciding whether to rollover a 401(k) to your new employer.
Read more and get additional financial resources here: http://johnsonbrunetti.com
What we discuss in this episode:
0:19 – Financial Fact
2:04 – Question on investing excess money
4:18 – Question on rolling over a 401(k)
6:18 – Get your Money Map review
Family will always be your priority in life but it can also lead to some tough conversations when it comes to retirement planning. Today we’ll discuss some of the common scenarios we come across when working with clients and how we work through them.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-236-challenging-financial-scenarios-families-often-face/
What we discuss in this episode:
1:52 – About to retire but still helping children financially
4:17 – Putting off retirement to continue paying for a child’s college
5:52 – Grandparents that want to help grandchildren financially
9:20 – Aging parents that are counting on their children
11:58 – People that want to be intentional about leaving a legacy
13:54 – Do you have a plan yet for these?
We’re opening up the mailbag again to find out what’s on your mind and this episode will cover a couple interesting topics – investing gifts and using debt to increase savings.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-235-mailbag-what-to-do-with-large-gifts-debt-and-saving/
What we discuss in this episode:
1:31 – Mailbag question on gifting rather than inheritance
4:42 – Mailbag question on good debt
6:59 – Money Map review
The new year means another opportunity to start fresh and reset your goals. To help you take positive steps towards retirement success, we’re going to share a few areas of your finances that should be a priority to begin the year.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-234-financial-items-to-prioritize-in-the-new-year/
What we discuss in this episode:
0:41 – New year update
3:32 – Fact of the week
4:23 – Tax withholdings
7:49 – Retirement account contributions
8:55 – Start gathering tax info
11:31 – An overall retirement checkup
14:14 – How we can help with these
Today we have two mailbag questions that we want to answer.
First, if your pension payout doesn’t change with inflation, how will this affect your planning. And the second is about the challenges you’ll encounter planning as a widow in retirement. We’ll explain how you’ll face a new tax bracket, one less Social Security check, and inflation pushing back.
Read more and get additional financial resources here: https://johnsonbrunetti.com/life-insurance-mistakes-you-need-to-avoid/
What we discuss in this episode:
0:21 – Getting to Know Joel: What’s the hardest job you’ve ever had? Joel worked at a warehouse overnight unloading trucks.
3:29 – Mailbag question: My pension doesn’t provide an inflation rate. Should I even consider taking the spousal continuation option?
5:14 – My husband is 11 years older than me so there’s a good chance I might end up being a widow for a significant amount of time in retirement. What type of planning challenges does this present for me?
6:50 – What does the Money Map review process look like?
If life insurance becomes part of your retirement plan, you need to make sure you’re able to cash in on a claim should the situation arise. Unfortunately, people make mistakes that end up preventing that from happening. We’ll tell you about those and what you can do to keep that from happening.
Read more and get additional financial resources here: https://johnsonbrunetti.com/life-insurance-mistakes-you-need-to-avoid/
What we discuss in this episode:
0:41 – Why this topic is important
1:27 – You think you’re covered but in the end you aren’t.
4:33 – Not naming a contingent beneficiary happens to people.
6:04 – Two real-life examples of how messy things can get without a beneficiary.
7:38 – You need to be careful about your hobbies and extracurricular activities.
9:21 - Attention to detail with your planning
You probably already know that financial planning comes in all different types of investments, but did you know that planning also changes depending on where you are in life? Strategies earlier in your life need to change as you approach your retirement date and there are a few important factors to keep in mind.
Read more: https://johnsonbrunetti.com/financial-planning-changes-in-retirement/
What we discuss in this episode:
0:40 – Introducing today’s topic.
1:00 – When should you take Social Security? It’s important to question conventional wisdom.
3:34 – Be careful with comprehensive financial plans that big companies often offer.
5:33 – Ask your financial advisor to show you their financial portfolio and credentials. Don’t take advice from someone that doesn’t have assets of their own.
6:35 – Many plans are mostly boilerplate.
8:37 – How do you find that target retirement date? Is it age or assets?
10:30 – Understand that there are so many factors going into retirement, not just a number.
11:37 – How the Money Map retirement review helps clients figure this out.
When you think ahead to retirement, do you worry at all about how much of your hard-earned money you’ll be able to spend? The entire goal of financial planning is to provide you the confidence to spend your money without fear that you’ll run out. Let’s discuss the reasons why retirees lack confidence and share a few stories about how we help clients overcome those concerns.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-230-spending-your-money-with-confidence/
What we discuss in this episode:
0:41 – Fun Fact of the Week
2:31 – Why do we lack confidence
4:371 – Figuring out a rate of return on your money
6:53 – Example of giving a client confidence in their retirement spending
9:13 – When you have to talk to someone about lowering spending
11:59 – Money Map Retirement Review process
Retirees received some good news ahead of 2022 when the Social Security Administration announced a 5.9% Cost of Living Adjustment for people that receive the benefit beginning in the new year. What does the increase tell us about inflation? We’ll discuss that on the show and answer a few financial questions from listeners.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-228-social-security-announces-large-cola-increase-mailbag-questions/
What we discuss in this episode:
1:01 – Social Security COLA increase
3:18 – Is inflation higher than the increase?
4:56 – Mailbag question on saving after maxing contributions
7:14 – Diversification of taxes
8:21 – Mailbag question about taking care of parents
11:45 – Mailbag question about rental properties
Another year of Thanksgiving celebrations with family and friends means renewing those traditions that we’ve come to enjoy every November. Today we’ll look at a few of the most common Thanksgiving traditions and find out what they can teach us about financial planning.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-228-financial-lessons-learned-from-thanksgiving-traditions/
What we discuss in this episode:
0:23 – Thanksgiving update
2:28 – Tradition: Detroit Lions losing on Thanksgiving
5:06 – Tradition: Family members arguing
9:07 – Tradition: Westminster Dog Show
12:36 – Tradition: Being thankful
There’s been plenty of economic news over the past few weeks so let’s talk about what’s happening and how it can affect your planning. From the Federal Reserve’s plan for bonds, inflation numbers, and supply chain issues, we’ll get Joel’s thoughts on what it all means.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-227-economic-update-bonds-inflation-and-supply-issues/
What we discuss in this episode:
1:01 – Tapering the pace of bond purchases
4:13 – Why interest rates go up
5:43 – Do you have mutual funds in your bonds?
6:57 – Supply chain issues and inflation
8:35 – Mailbag question on buying a boat
10:21 – Mailbag question on planning for a grandchild
13:00 – How the process usually works for people
It's time to go back into the mailbag to find out what's on your mind. Today we talk about whether funding a business from your IRA is a good plan, investing an inheritance, and how to help adult children financially.
Read more: https://johnsonbrunetti.com/four-core-financial-planning-philosophies/
What we discuss in this episode:
0:22 – Mailbag Question #1: I’m thinking about starting my own business but I would have to pull money about $75,000 out of my IRA, which would require paying taxes and penalties. I’m not scared of those penalties but interested to hear your take on it.
3:04 – Massive wealth is built without diversification.
5:03 – Mailbag Question #2: My mom passed away and left me about an IRA of about $350,000 in it. What do I need to know about this account and how should I invest it?
6:36 – Mailbag Question #3: My kids are both in their 20s and have been furloughed. They live with us so expenses are limited, but I’m wondering how to best help them financially during this time.
Between the lingering pandemic, the worry of inflation, and general uncertainty about the state of the economy, it's easy to look for adjustments to make in your financial plan. But when you drill down on the planning we do every day with clients, there are four core principles we follow no matter what else is happening externally. On this episode, Joel will take you through each of those and how we apply them when working with a client.
Read more: https://johnsonbrunetti.com/four-core-financial-planning-philosophies/
What we discuss in this episode:
0:34 – Joel and his team back in the office again.
1:46 – Are people shaking the complacency and ready to get going again?
2:56 – How is the financial planning conversation different now than it was before?
5:46 – The four core philosophies we preach
You never know what might happen to you in retirement. After all, some things in life you just can't control. However, you can control how you plan for the unknown. Joel explains why you should control what you can to prepare yourself for those "life happens" moments in retirement.
Read more and get additional financial resources here: https://johnsonbrunetti.com/things-you-can-and-should-control-in-retirement/
What we discuss on this episode:
00:41 – A Quote Of The Week
2:30 - A Question On Roth Conversions
5:37 - Control Your Risk Exposure
7:44 - Build A Lifetime Income Stream
9:50 - Tax Planning Is Crucial
11:20 - You Can't Control The Fate Of Social Security
14:06 - A Question On Inheritance
15:40 - The Unique Challenge Of Age Gap
18:05 - The Unique Challenge Of An Early Retirement
19:10 - The Unique Challenge Of Illiquid Wealth
20:30 - The Unique Challenge Of A Divorce
Fear and procrastination will lead to all sorts of trouble in your financial life. If these emotions cause you to continuously change your financial goals, learn why, and discover how to put a firm plan in place.
Read more and get additional financial resources here: https://johnsonbrunetti.com/four-ways-youre-moving-the-goalpost-in-retirement/
What we discuss in this episode:
0:56 – Volatility Is Back On Wall Street.
2:54 - Just How Much Cash Do You Need?
5:18 - Get Serious About Saving
6:57 - Procrastinating Your Need To Take The Risk Out Of Your Portfolio
8:44 - Pushing Back Your Retirement Date
12:27 - Mailbag question 1
15:48 - Mailbag question 2
19:04 - Mailbag question 3
In the spirit of Halloween, let’s do our own trick-or-treating around the financial industry. Come with us as we take a look at five different products that investors commonly use and decide whether they are tricks or treats. We’ll also dive into the Halloween (mail)bag to answer three great questions on emergency funds, life insurance, and inheritance.
Read more: https://johnsonbrunetti.com/financial-trick-or-treat/
What we discuss on this episode:
0:45 – To acknowledge Halloween, we’ll be talking financial tricks or treats.
1:05 – It’s the 88th anniversary of Al Capone’s sentencing for income tax invasion.
2:05 – In the news: 3 employees at an assisted living facility arrested for running a fight club with elderly residents with dementia.
3:35 – Let’s go trick or treating now.
3:50 – Trick or Treat? Home equity line of credit
5:35 – Trick or Treat? Variable annuity
7:30 – Trick or Treat? The no-load mutual fund
10:01 – Trick or Treat? The no closing cost mortgage
11:08 – Trick or Treat? Life insurance with an accelerated death benefit
12:57 – People need a second opinion when determining whether things are tricks or treats.
14:50 – Mailbag question: I’m told I don’t have enough of an emergency fund in the bank. What’s more important, building that up or maxing out my 401k.
19:29 – Mailbag question: I’m thinking about canceling my expensive whole-life policy and getting a much cheaper term policy. Is there any reason I shouldn’t terminate the policy and use the cash on something else?
20:57 – Mailbag question: My grandmother died recently and left me a lot of money. It’s more than I’ve ever had before so I don’t want to be an idiot with it. What should I do to make sure I’m not mad at myself in 40 years when I want to retire?
With your house being one of the most valuable assets you own, it’s not surprising that people might consider a number of different decisions that might have a significant financial impact on their retirement. Let’s explore some of the most common scenarios we discuss with clients and how to make the best decision for your future.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-221-housing-scenarios-you-might-face-in-retirement/
What we discuss on this episode:
0:23 – Tax planning in the final quarter of 2021
2:18 – Why Joel is doing a large Roth conversion this year
3:24 – Scenario 1: Considering downsizing to a smaller home
5:12 – Scenario 2: Pay off house if we have the money or not?
6:37 – Scenario 3: Best way to finance a second home
7:57 – Scenario 4: Moving out of state in retirement
9:13 – Scenario 5: Selling the home and begin renting
10:30 – Scenario 6: Moving into a CCRC in retirement
With financial information everywhere you look, it can be tough to discern what is accurate and what is actually just a headline used to generate clicks. Today we’ve pulled some of the things you might have heard recently relating to the economy and investing and we’ll look to Joel to explain what is accurate and what’s been exaggerated.
Read more and get additional financial resources here: https://johnsonbrunetti.com/7389-2/
What we discuss on this episode:
0:58 – Getting workers to return to the office
4:38 – Social Security is going broke
6:06 – Debt is out of control and taxes are going through the roof
6:50 – Economy will grind to a halt when interest rates are raised
7:57 – There’s going to be a market crash soon
9:30 – Mailbag question on what to do with TSP account
10:48 – Mailbag question on why you need someone to help manage your money
12:43 – How to start the conversation with us
What can we learn in life from those who have come before us? Asking yourself that question frequently is going to keep you in the right mindset to achieve great success in whatever you do throughout life. But we can also apply the thinking specifically to retirement. What can we learn from those who have successfully retired already? What do those folks have in common and can we implement the same strategies and habits?
Using Stephen Covey’s The 7 Habits of Highly Effective People as inspiration, Joel has mapped out the 7 Habits Of Highly Successful Retirees for today’s podcast. Listen and see if you’re living out these habits or if you might need to tweak your approach to financial and retirement planning.
As part of our summer podcast series, we're going back to the most popular topics of the past year or more and revisiting them once again.
Read more and get additional financial resources here: https://johnsonbrunetti.com/7-habits-of-highly-successful-retirees/
What we discuss on this episode:
1:19 - Having A Great Savings Withdrawal Strategy
2:44 - Diversifying For Everlasting Income
3:30 - Fending Off The Tax Man
4:45 - Leveraging Dividend Stocks
8:25 - Maintaining A Modern Estate Plan
10:15 - Don’t Be Afraid To Take Risks
12:38 - Always Know Where You Stand
Many people are hesitant to dive into their finances or make any big decisions because there’s often so much information to sift through. When it comes to planning for retirement, we all need help sorting through our options and simplifying our financial plan. That’s exactly what Joel will help you do on this episode.
As part of our summer podcast series, we're going back to the most popular topics of the past year and revisiting them once again.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-189-simplifying-the-financial-planning-complexities/
What we discuss on this episode:
0:42 – Fun Fact of the Week
3:10 – Beauty of Simplicity and How to Make Financial Structure Less Complicated
6:49 – 3 Areas That Overwhelm People
9:27 – Strategies Joel Uses to Bring Simplicity to Clients
11:42 – Explaining How the Money Map Process Assists in This
14:45 – Mailbag Question on mutual fund returns
16:20 – Mailbag Question on getting spouse involved in finances
Whether you’ve listened to Joel on television or on this podcast, you’ve probably heard him mention The Money Map quite a bit. So what exactly is it? In this episode, we’ll explain the purpose of the book, what topics it covers, and some of the areas you’ll benefit from. Plus, we’ll take a couple of mailbag questions before we go.
As part of our summer podcast series, we're going back to the most popular topics of the past year and revisiting them once again.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-188-the-money-map/
What we discuss on this episode:
1:32 – What exactly will we find in The Money Map?
2:20 – Examples of the chapters you’ll find in the book.
2:54 – Culture of greed, entitlement, and arrogance on Wall Street.
3:39 – How to use real estate in your investment portfolio.
4:57 – Biggest mistake most people make in retirement.
6:37 – Listener Question: Do I need to invest some of my pension income to cover my lack of savings in retirement?
8:44 – Listener Question: Should my broker have more urgency about correcting my recent IRA losses since I’m 60-years-old?
10:34 – How to get your complimentary consultation
Financial planning gets more complicated as you move through life and questions will undoubtedly arise along the way. Today we’ll answer a few of the submissions from pre-retirees and retirees dealing with financial and estate planning issues and provide as much information as we can.
As part of our summer podcast series, we're going back to the most popular topics of the past year and revisiting them once again.
Read more and get additional financial resources here: https://johnsonbrunetti.com/financial-estate-planning-questions-facing-families/
What we discuss on this episode:
0:21 – Mailbag Question 1: I’ve been very blessed and have more than I’ll probably need in my life. Should I start giving away money to my kids and grandkids now so they don’t have to worry as much about estate taxes and probate costs?
2:05 – Mailbag Question 2: I’m thinking about getting married to someone 12 years old than me. I’m worried about what happens if he’s retired and I’m still working. Will this be a problem financially?
4:29 – Mailbag Question 3: I’m in the middle of a divorce after 30 years of marriage. Would I be better off with half of his 401k or half of his pension?
6:11 – Mailbag Question 4: My husband and I argue almost everyday about money because we haven’t done a good job of planning and it’s stressing us out. Is this normal or do we need some serious help?
8:16 – Mailbag Question 5: I’m the executor of my deceased mother’s will and my sister is currently living in mom’s house. I don’t want to kick her out but I think I might need the money from the sale to fund my retirement. How do I figure out if I’m okay with what I have or if I need to kick my sister out?
9:57 – Mailbag Question 6: My dad just died six months ago and I’m a little worried about my mom, who is in her late 70s and is now in charge of handling the investments for the first time in her life. I don’t know much about it myself so what should I tell her to do?
11:45 – How can someone take advantage of the Money Map review process?
We’re going back to the mailbag and taking questions that specifically deal with concerns from pre-retirees. Let’s look at strategies for building your 401k, how much you might need for retirement, and preparations to make as you approach your retirement date.
As part of our summer podcast series, we're going back to the most popular topics of the past year and revisiting them once again.
Read more and get additional financial resources here: https://johnsonbrunetti.com/7-questions-from-pre-retirees/
What we discuss on this episode:
0:23 – Mailbag Question #1: I’m retiring in three years and I have almost a million in my 401k but I also have about $60K in consumer debt. Is it worth it to take money out of the 401k to pay it off now while I’m working?
2:09 – Mailbag Question #2: I’m retiring later this year and I’ll have about 16 weeks unused vacation and sick leave that they’ll have to pay me. I’m told I can take this all in my final paycheck or continue being paid on my normal schedule every two weeks after I retire. Does it matter which way I do it?
4:02 – Mailbag Question #3: I’m ready to retire but I won’t be old enough for Medicare for another six months. Should I just stick it out until then?
4:50 – Mailbag Question #4: I’m starting a new job with a lower base side but higher commissions. My base salary is too low to contribute to my 401k and pay my bills. Is it ok to just use my commissions for retirement savings?
6:15 – Mailbag Question #5: My company matches my 401k savings but they do it in company stock. I’m not excited about owning a lot of company stock but don’t want to miss out on the match. Should I still try to put in as much as I can?
8:25 – Mailbag Question #6: I’ve heard that you need between 15-20x your annual salary in savings to be able to retire comfortably. Is that accurate?
9:59 – Mailbag Question #7: My husband and I argue everyday about money because we haven’t done a great job saving for retirement and it’s stressing us out. Is this normal?
12:15 – How we can help with all of these things.
We meet people every day that either work with or have worked with a financial advisor, and during those conversations we hear many of the same complaints. Let’s dive into the issues facing may pre-retirees and how we address them with our clients.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-214-common-complaints-people-have-about-advisors/
What we discuss on this episode:
1:08 – Peak of the homebuying frenzy?
2:38 – Mailbag question on paying for a swimming pool
5:38 – Complaint: Taking on too much risk
9:21 – Different biases we have
11:03 – How do you determine risk in your portfolio
14:13 – Complaint: My fees are too high
17:20 – Complaint: My account didn’t grow much
18:34 – Complaint: I only hear from my advisor when they want me to buy a stock
19:03 – Mailbag question on investments for grandchildren
20:49 – Mailbag question on investing outside of stocks
Conventional wisdom can be a great guide for investors but general guidance doesn’t always apply to each individual. There are exceptions for every rule and that’s what we want to discuss today.
As part of our summer podcast series, we're going back to the most popular topics of the past year and revisiting them once again.
Read more and get additional financial resources here: https://johnsonbrunetti.com/when-conventional-wisdom-in-retirement-doesnt-always-apply/
What we discuss on this episode:
0:49 – Let’s start with conventional wisdom in retirement planning.
1:06 – “You can’t go wrong with real estate. They aren’t making any more of it.”
2:25 – “There’s good debt and bad debt. Mortgage debt is good debt”
3:40 – “Retirement is a chance to relax after an exhausting career.”
5:00 – “If your current investments are doing well, try something else.”
6:39 – If people need guidance on what to do, how can that happen?
10:11 – Shifting that mindset from accumulating to protecting.
The retirement accounts set up through your employer are powerful saving vehicles but are you managing it properly? Some people obsess over their investments while others set it and forget it. Which strategy works the best and how can an advisor play a key role in your strategy? We’ll tell you about that on this episode.
As part of our summer podcast series, we're going back to the most popular topics of the past year and revisiting them once again.
To read more on this topic, visit us online here: https://johnsonbrunetti.com/should-you-review-your-401k/
What we discuss on this episode:
0:28 – The plan for today’s show.
1:52 – What goes wrong when you don’t pay enough attention to your account?
3:10 – What about the people are obsessing over their 401(k)?
5:15 – Joel shares a story about a strategy that a huge company in LA uses.
6:12 – What’s the best way to get help in a 401(k) when it’s set up to do it yourself?
7:50 – How investing has changed in 401(k) accounts.
As part of our summer podcast series, we're going back to the most popular topics of the past year and revisiting them once again.
Financial planning doesn’t just give a sense of security, it also ensures your family is taken care of as well. On this episode, Joel answers nearly a dozen questions from listeners that all pertain to some aspect of family finances.
To read more on this topic, visit us online here: https://johnsonbrunetti.com/family-finances-educational-estate-and-investment-planning/
What we discuss on this episode:
0:19 – Mailbag Question 1: I always assumed I’d send my kids to an in-state college but my daughter is interested in a private school that costs six times as much. It’s hard for me to justify that kind of expense for an education.
4:43 – Mailbag Question 2: This is a second marriage for me and my husband. We file a joint tax return but keep all other financial matters separate. Is that okay or should we be doing something different?
6:53 – Mailbag Question 3: Is there a better way to save for college rather than pumping money into a 529 plan?
8:23 – Mailbag Question 4: My wife is significantly younger than me and I’m guessing she’ll outlive me by at least 10 years. Do I need to get life insurance to take care of her when I’m gone?
10:10 – Mailbag Question 5: I had kids later in life than most people. I’m almost 60 and my twin boys are heading to college in a few months. I want them to finish college without any huge student loans but I’m not sure I can pay for both without hurting myself financially. Which should I place a higher priority on?
11:30 – Mailbag Question 6: I’m thinking about having my mom sign my house over to me in case she goes into the nursing home and runs out of money. Is this a smart move?
12:27 – Mailbag Question 7: My brother tells me I have too much money in the bank. It makes me feel better to have it there in case of emergency. Is that really so bad?
14:14 – Mailbag Question 8: I read recently about a family that set up a complicated set of trusts. Our family is interested in creating some sort of generational wealth. What’s the best way to do it?
16:27 – Mailbag Question 9: I’m about to get married. It’s my second and her third. I want to keep all of our assets separate but how do we plan for retirement that way?
17:40 – Mailbag Question 10: We’ve never lived on a budget and my husband is very resistant to that in retirement. Without a budget, how can we be sure we don’t run out of money?
19:40 – Mailbag Question 11: I’m retired and my husband needs to retire but he refuses to walk away from work. Any suggestions to convince him that we’ll be fine?
Real estate can be a huge piece of a financial plan, especially now that mortgage rates are at historic lows. We’ve gotten a lot of question for the show about this topic and today we’re running through nine different mailbag submissions that all tie into real estate.
As part of our summer podcast series, we're going back to the most popular topics of the past year and revisiting them once again.
To read more on this topic, visit us online here: https://johnsonbrunetti.com/answering-questions-about-real-estate-planning/
What we discuss on this episode:
0:20 – Mailbag Question #1: My house is already paid off but I’m about to sell it to downsize in a condo that’s about $100,000 cheaper. Should I put the money I make into the market?
1:54 – Mailbag Question #2: I want to start a business and make an addition to my house that will give me the space to do that. Should I take the money from IRAs or take out a business loan?
3:00 – Mailbag Question #3: I’m thinking about having my mom sign her house over to me in case she goes into a nursing home and runs out of money.
3:57 – Mailbag Question #4: I have two rental properties that have mortgages on them. I have enough in investments to pay off the mortgages but rent covers the mortgages right now. Do I even need to pay them off?
5:04 – Mailbag Question #5: I know that I need an emergency fund, but instead of keeping money in a savings account, can I use my home equity line if I need money in a pinch?
6:54 – Mailbag Question #6: We don’t have much saved but we’re about to sell our farm for just over $1 million. We’ve never really invested in the market so where do we start with this money?
8:28 – Mailbag Question #7: I wasn’t planning to move but my dream home came on the market. My current home is paid off but I’d have to take out a mortgage on this new one. I’m getting close to retirement so is it a bad idea to carry a mortgage into retirement?
9:51 – Mailbag Question #8: I’m the executor of my deceased mother’s will. My sister is currently living in mom’s house and I don’t want to kick her out. But I’m worried I’ll need the money from the home’s sell for retirement. How can I figure out if I have enough or if I need to kick her out?
11:34 – How we can help you work through any of these planning issues.
Everyone wants to know where they stand as it relates to retirement savings. Will you have enough or are you falling behind? Today we’ll tell you how we arrive at that number and we’ll answer another listener question about capital gains taxes.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-209-do-your-retirement-savings-measure-up/
What we discuss on this episode:
0:18 – Mailbag question on retirement savings
1:49 – Where do you stand?
3:19 – Fact of the week
5:48 – Mailbag question on capital gains taxes
The SECURE Act was first introduced at the beginning of 2020 with a handful of new retirement planning changes included, but there could be additional amendments added in the near future. What could the new changes include? We’ll share six key proposals that are on the table and find out what Joel makes of each one.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-208-secure-act-2-0-what-to-know/
What we discuss on this episode:
1:00 – Housing market update
4:19 – Raising RMD age to 75
6:32 – Auto-enrolled into 401(k)
7:46 – Increasing catch-up contributions
8:53 – Student loan payments for employer match
10:39 – Finding old 401(k) accounts more easily
12:29 – Tax reduction planning
We all know that regular check-ups are beneficial to our health but plenty of people still put it off. Many of the same excuses people make for not going to the doctor are used for avoiding a visit with a financial advisor. Let’s take a closer look at why people procrastinate with their finances and give you some reassurance to ease any of those concerns.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-207-excuses-for-not-going-to-an-advisor/
What we discuss on this episode:
0:10 – Does Joel get regular physical check-ups?
1:56 – It’s going to be expensive
2:48 – Being told what not to do.
4:32 – Embarrassment over how much you don’t understand
6:40 – They’re going to give me bad news.
8:26 – Our Money Map review
Many people look to real estate to generate income but would it make more sense to put that money towards paying off the mortgage on your primary residence? Let’s look at that question and a couple others that came into the show. Plus, Joel shares his thoughts on the labor shortage happening across the country.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-206-claiming-social-security-early-other-retirement-questions/
What we discuss on this episode:
1:49 – Employment struggle and its impact on the economy
4:06 – Tight labor market: good or bad long term?
5:36 – Mailbag question on childcare expenses
7:51 – What the retirement income analysis process looks like
8:59 – Mailbag question on how much to keep in the bank
11:27 – Mailbag question on rental properties
We found that people move the goalposts in their own retirement planning, often to their own detriment. Let’s talk about the ways people change their goals and deadlines and how it ends up negatively impacting their future.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-205-why-people-move-their-goalposts-in-retirement-planning/
What we discuss on this episode:
0:31 – How much cash do I need?
2:38 – I need to reduce my risk but when to do it.
3:59 – Picking your retirement date
6:19 – How retirement planning helps alleviate some issues
8:37 – Take the next step
There’s some sentiment going around that inflation might be a problem financially in the near future. Joel will share his thought on the matter and what impact he think it might have on planning. Plus, we’ll address a question that came in recently about real estate and small business in retirement.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-204-inflation-concerns-and-a-real-estate-retirement-dilemma/
What we discuss on this episode:
0:28 – Should we be worried about inflation?
4:09 – Marijuana legalization and dogs
6:20 – Mailbag question on small business owner retirement
8:55 – Why Joel doesn’t own his office
Which financial tools should you be utilizing in your retirement plan? The answer varies for every person but every tool could be a possibility. Today we’ll take a look at a few popular planning items and answer questions that our listeners have about each one.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-203-questions-about-different-financial-tools/
What we discuss on this episode:
0:27 – Mailbag question on long-term care insurance vs self-insuring
2:07 – Long-term care insurance a good idea for most people?
3:11 – Mailbag question on reverse mortgages
4:49 – Mailbag question on stock market
6:07 – Using financial tools effectively
If planning was easy to do, we’d never have to worry about retirement. Unfortunately, we often put ourselves in difficult positions financially because we fail to stick to some basic strategies.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-202-basic-financial-strategies-we-struggle-to-stick-to/
What we discuss on this episode:
0:35 – Buy low and sell high.
2:39 – Don’t pay more in taxes than you have to.
4:31 – The importance of diversification.
7:11 – Don’t try to time the market.
10:04 – The need to keep costs low.
Today we open up the mailbag to answer your questions on topics ranging from savings strategies, supporting adult children after college, taking advantage of low interest rates to pay down existing debt, and more.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-201-mailbag-savings-supporting-adults-children-and-interest-rates/
What we discuss on this episode:
0:13 – Mailbag Question on Savings
2:26 – Mailbag Question on deeding a house
3:30 – Mailbag Question on Life Insurance beneficiaries
4:38 – Mailbag Question on Interest Rates
5:37 – Mailbag Question on supporting kids after college
The first few months of the Biden administration brought a lot of new legislation but many of our clients are paying close attention to the tax proposals that are on the table. Let’s take a look at the places where increased taxes could be coming and what it means for planning.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-200-breaking-down-bidens-new-tax-proposals/
What we discuss on this episode:
1:02 – Quote of the week
1:53 – Biden tax proposals
3:19 – Top individual tax rate increase
6:02 – Corporate tax rate increase
10:24 – Top capital gains rate nearly doubling
12:17 – Elimination of stepped-up basis at death
14:17 – Proper planning
17:17 – Moving to different states for tax reasons
20:39 – Mailbag question on pension funds
Real estate across the country has been pretty hot over the past year and we’ve gotten a lot of questions about how to approach the housing market. What should you do if you’re looking to buy, sell, or rent right now? And what’s the outlook in Connecticut? We’ll find out what Joel thinks and what he’s been seeing from real estate in our region.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-199-how-to-approach-todays-housing-market/
What we discuss on this episode:
0:35 – General opinion of the housing market right now
3:27 – How are you advising younger people?
5:36 – Helping kids with a down payment
7:24 – Money Map process on housing
10:34 – Mailbag question on renting in retirement
14:49 – Mailbag question on managing inheritance
17:00 – Mailbag question on how much to retire.
Real estate across the country has been pretty hot over the past year and we’ve gotten a lot of questions about how to approach the housing market. What should you do if you’re looking to buy, sell, or rent right now? And what’s the outlook in Connecticut? We’ll find out what Joel thinks and what he’s been seeing from real estate in our region.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-199-how-to-approach-todays-housing-market/
What we discuss on this episode:
0:35 – General opinion of the housing market right now
3:27 – How are you advising younger people?
5:36 – Helping kids with a down payment
7:24 – Money Map process on housing
10:34 – Mailbag question on renting in retirement
14:49 – Mailbag question on managing inheritance
17:00 – Mailbag question on how much to retire.
Joel and his family have been dealing with the loss of his father, which has been an emotional time for everyone. It’s also helped reinforce the importance of having an estate plan in order and why keeping things simple can really benefit the loved ones you leave behind.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-198-the-importance-of-simplifying-your-estate/
What we discuss on this episode:
0:33 – The loss of Joel’s father
2:18 – Financial steps after someone passes
4:26 – Importance of simplifying things
5:54 – What would you have done differently with their finances?
7:22 – Taking care of the widow
10:05 – How the Money Map simplifies planning
Joel and his family have been dealing with the loss of his father, which has been an emotional time for everyone. It’s also helped reinforce the importance of having an estate plan in order and why keeping things simple can really benefit the loved ones you leave behind.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-198-the-importance-of-simplifying-your-estate/
What we discuss on this episode:
0:33 – The loss of Joel’s father
2:18 – Financial steps after someone passes
4:26 – Importance of simplifying things
5:54 – What would you have done differently with their finances?
7:22 – Taking care of the widow
10:05 – How the Money Map simplifies planning
Every generation faces different financial challenges than their predecessors, and people heading into retirement right now are no different. Let’s look at the areas of planning that are more difficult now than they used to be and discuss adjustments that people are having to make.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-197-new-challenges-retirees-face-in-planning/
What we discuss on this episode:
0:44 – Pensions becoming more rare
3:11 – Life expectancy is longer
4:18 – Interest rates are much lower
5:41 – Volatility seems more pronounced
7:42 – Money Map review
9:08 – Making the process easy
States all across the country are re-thinking the future of their economy after the many shifts brought on by COVID-19. Today we get the opportunity to speak with David Lehman with Connecticut Department of Economic and Community Development to find out what his goals are as commissioner and find out why he’s optimistic about the future of our state.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-196-economic-business-future-of-connecticut-with-david-lehman/
What we discuss on this episode:
0:49 – What his department focuses on
2:37 – The current business environment in Connecticut
4:50 – Attracting good students to CT
7:16 – What businesses would you like to attract?
11:10 – More positive news than being promoted
12:29 – Housing opportunities
14:37 – Attracting insurance companies
16:24 – Brownfield development
19:58 – Trade schools
20:50 – Financing a business
21:44 – Lack of new office space
24:37 – Reasons to be optimistic as a citizen of CT
Before you can determine an investment strategy, you have to understand your risk profile. How comfortable are you with volatility or would you prefer a more conservative approach? Unfortunately, many people just don’t realize how much risk they’re taking on inside their portfolio so that’s what we want to help you get a better grasp on today.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-195-understanding-risk-in-your-portfolio
What we discuss on this episode:
0:46 – What guidance would you give Warren Buffet for his $100 billion?
2:37 – What percentage of clients are comfortable with risk?
3:57 – Balancing a couple that sees risk differently
5:50 – How often does a portfolio line up with risk tolerance?
8:38 – Reducing risk without reducing opportunities for growth
10:36 – Risk analysis we provide
We turn to the mailbag once again and answer the questions that are on your mind. Today we have a few that will cover a wide range of topics, including health insurance, renting vs owning, and whether you can invest exclusively in dividend-paying stocks.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-194-answering-questions-on-renting-health-insurance-and-dividends/
What we discuss on this episode:
0:09 – Mailbag Question on Renting vs Owning
3:24 – Mailbag Question on Health Insurance
4:54 – Mailbag Question on Dividend-Paying Stocks
Sometimes we make decisions that just don’t add up. It happens all the time in the financial world as well, and it leaves us scratching our head. Today we’ll look at some examples of things we see in financial planning that don’t make sense and tell you what options you should be considering instead.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-193-things-that-dont-make-financial-sense/
What we discuss on this episode:
1:10 – Joel’s money stuck in PayPal
3:07 – Things that don’t make sense: Driving across town to save a small amount
4:56 – Tax-free municipal bonds inside an IRA
5:55 – Living in a house that’s worth $200,000 while driving a $50,000 car
7:04 – Having the money to pay off your house but don’t because mortgage interest is the only write-off you have
9:45 – Keeping a lot of money in the bank just for security
It’s time to open up the mailbag again and answer the questions that have been sent into the show recently. We’ll be talking about RMDs, investing in company stock, using robo-advisors, and how to know if you have enough money to retire.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-192-mailbag-rmds-company-stock-and-robo-advisors/
What we discuss on this episode:
0:20 – Mailbag question on RMDs
2:46 – Mailbag question on company stock
4:02 – Mailbag question on robo-advisors
6:34 – Mailbag question on returning to work after retiring
Certain life events impact you more than others, and the same can be said when it comes to your finances. When these things happen, it pushes you to react with much more urgency with your retirement planning. Let’s talk about which specific events require your immediate attention and why it’s important to evaluate your plan.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-191-when-your-financial-plan-calls-for-urgency/
What we discuss on this episode:
1:10 – Signs of an economic boom?
2:40 – Urgency due to loss of a job
4:43 – Early retirement buyout offer
6:10 – Retirement is rapidly approaching
9:02 – Major medical expenses
10:51 – Death of a spouse
For more than a decade, our team has been using a proprietary process we call the Money Map to help clients identify and overcome the financial obstacles that are preventing them from reaching their retirement goals. If you’ve ever thought about taking advantage of this complimentary review we offer everyone, check out this episode as Joel explains each step of the process and how you can utilize it to secure your financial future.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-190-how-to-utilize-our-proprietary-process/
What we discuss on this episode:
1:39 – More than a decade doing the Money Map process
3:36 – Even simple questions require a thorough review
5:22 – The steps we take you through
8:31 – How do we get paid?
11:04 – Example of this process in action
13:21 – How you can start this process
14:48 – The Money Map book
16:14 – The culture of Wall Street
18:09 – How Wall Street impacts us
20:32 – If you anxiety of your money
Many people are hesitant to dive into their finances or make any big decisions because there’s often so much information to sift through. When it comes to planning for retirement, we all need help sorting through our options and simplifying our financial plan. That’s exactly what Joel will help you do on this episode.
Read more and get additional financial resources: https://johnsonbrunetti.com/podcast-episode-189-simplifying-the-financial-planning-complexities/
What we discuss on this episode:
0:42 – Fun Fact of the Week
3:10 – Beauty of Simplicity and How to Make Financial Structure Less Complicated
6:49 – 3 Areas That Overwhelm People
9:27 – Strategies Joel Uses to Bring Simplicity to Clients
11:42 – Explaining How the Money Map Process Assists in This
14:45 – Mailbag Question on mutual fund returns
16:20 – Mailbag Question on getting spouse involved in finances
Whether you’ve listened to Joel on television or on this podcast, you’ve probably heard him mention The Money Map quite a bit. So what exactly is it? In this episode, we’ll explain the purpose of the book, what topics it covers, and some of the areas you’ll benefit from. Plus, we’ll take a couple of mailbag questions before we go.
Read more and get additional financial resources: https://johnsonbrunetti.com/podcast-episode-188-the-money-map/
What we discuss on this episode:
1:32 – What exactly will we find in The Money Map?
2:20 – Examples of the chapters you’ll find in the book.
2:54 – Culture of greed, entitlement, and arrogance on Wall Street.
3:39 – How to use real estate in your investment portfolio.
4:57 – Biggest mistake most people make in retirement.
6:37 – Listener Question: Do I need to invest some of my pension income to cover my lack of savings in retirement?
8:44 – Listener Question: Should my broker have more urgency about correcting my recent IRA losses since I’m 60-years-old?
10:34 – How to get your complimentary consultation
On his first day in office, Joe Biden signed 17 different executive orders and has signaled his intent on several other policies that we can expect in the coming months. How might some of these issues affect your investing choices moving forward, or possibly just affect the specific economic interests of some of your clients, both positively and negatively?
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-187-reviewing-president-bidens-early-policy-decisions/
What we discuss on this episode:
1:53 – Evictions and foreclosures
4:33 – Student Loan Debt
6:47 – Revoking the permit for the Keystone XL pipeline
8:38 – Additional COVID stimulus
11:07 – $15/hour minimum wage
15:06 – What should you be doing with your own money
19:02 – Mailbag question about taking on a bigger mortgage
21:30 – Mailbag question on what to focus on right before retirement
Much of the conversation we have on the podcast deals in the present but we wanted to take a look back over Joel’s career and hear some of the stories he remembers most. Find out what he would consider his biggest mistake, the luckiest thing he’s seen, and more.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-186-highlights-from-a-career-in-financial-planning/
What we discuss on this episode:
0:45 – What’s in store for the stock market this year?
2:27 – Tell a story about the messiest financial situation you’ve help navigate
5:50 – Biggest mistake Joel made early in his career
7:24 – Luckiest thing you’ve seen happen to someone financially
10:21 – The maddest Joel’s been in his job
15:21 – Mailbag question on W-2 vs Independent Contractor
18:54 – Mailbag question on couples with separate bank accounts
21:01 – Mailbag question about taxes on retirement accounts
Much of what you try to accomplish with a financial plan is being prepared for the unexpected and there’s plenty of that in life. We realize not every question has an answer, but a strong plan can position you for many outcomes.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-185-financial-questions-you-dont-know-the-answer-to/
What we discuss on this episode:
0:38 – Market Update
3:25 – How should we invest this year?
5:02 – When is the next market crash?
8:21 – What will healthcare costs look like in 20 years?
10:37 – What will tax rates look like three administrations from now?
15:12 – Fun Fact and Quote of the Week
17:26 – Mailbag question on mortgages
19:44 – Mailbag question on saving 15% of income
21:35 – Mailbag question on trusts in tax planning
After one tumultuous 2020, we’re bound and determined to have a positive year in 2021. No matter what comes our way, let’s keep taking steps to build a strong financial plan. To help you do that, we’ve laid out four planning items that should be on everyone’s list.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-184-planning-items-to-put-on-your-list-for-2021/
What we discuss on this episode:
2:49 – Understanding new legislation
5:57 – The SECURE Act
9:28 – Adjusting to new income levels
12:56 – Assess your overall retirement health
16:18 – Mailbag question about leaving money behind to kids
19:11 – Giving your children a better financial opportunity
21:01 – Mailbag question about the 4% rule
22:56 – Mailbag question about severance packages and leaving work early.
Stats tell us that many people believe a financial plan is important but the majority of those people don’t follow through and get one built. If that’s you, don’t let procrastination keep you from reaching your retirement goals. As this new year begins, let’s talk about how you can take those next steps and leave procrastination in 2020.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-183-dont-let-procrastination-stop-you-in-2021/
What we discuss on this show:
0:40 – This is the year for Joel
2:13 – Advice for someone that needs motivation
5:05 – Adding structure in your life
8:29 – Why do people procrastinate with financial planning
11:13 – Assuming advisors are always selling you something
14:45 – What we talk with clients about in a review
18:50 – Mailbag Question: I max out my HSA every year but never take anything out of it. If I just keep doing this every year, can I build up a huge balance that will be tax-free in retirement?
20:08 – Mailbag Question: I planned to work for another five or six years but I was just told I’ll be terminated in a few months, two weeks after my 60th birthday. I get a good severance package and I’ll have 90 days to exercise all my stock options. Should I use this cash to pay off the house and try to retire or should I get another job?
As we kick off a new year on the podcast, let’s take a big picture look at 2021 and find out what Joel feels are the biggest challenges to the economy and what he’s most excited about for this year. We’ll also run through a handful of investment ideas to determine whether they might be a good idea or a bad idea.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-182-what-were-optimistic-pessimistic-about-for-2021/
What we discuss on this show:
0:47 – Remember why we do this show
2:05 – What we’re pessimistic about going into 2021
3:54 – What we’re optimistic about in 2021
6:40 – 41 years ago the first government bailout occurred
9:16 – Joel tells a story about a man that turned around companies
11:52 – Start the year with a Money Map review
14:34 – Financial stocking stuffers: Apple stock
15:17 – Financial stocking stuffers: high-yield bonds
15:46 – Financial stocking stuffers: Tesla stock
17:07 – Financial stocking stuffers: Whole life insurance policy
18:09 – Financial stocking stuffers: S&P 500 Index ETF
19:43 – Financial stocking stuffers: Indexed Annuity
21:00 – Mailbag Question: I was laid off from my corporate job and I’m not that excited to find something else in the corporate world at the age of 53. I’m interested in real estate so I’m considering getting my license and becoming a realtor. This would probably require me to take some early withdrawals from my IRA. Is this a dumb idea?
Do your retirement goals include finding a second home where you can spend a portion of the year living in? If so, what are the best options for financing that home? Let’s look at the different choices and explain which might make the most sense from a planning standpoint. We’ll also answer two other listener questions on contributions and working with an advisor.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-181-best-options-for-financing-a-second-home/
What we discuss on this show:
0:20 – Vaccine news
1:40 – Mailbag Question: We’ve always dreamed of a vacation home in retirement. I think we can afford it but aren’t sure where to pull it from?
5:51 – Mailbag Question: I make too much to contribute to a Roth IRA. Is there anywhere else I can invest to give myself some tax advantages in the future?
7:52 – Mailbag Question: I’ve always handled my investments on my own but is that a bad idea as I get older?
9:23 – Money Map Retirement Review
As we approach the end of the year, it’s important to review a handful of key items before the calendar turns to January 1. Use the list we provide on this episode to help you get your finances in order and make some planning decisions.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-180-end-of-year-planning-items/
What we discuss on this show:
0:59 – Item 1: Maxing out retirement contributions
3:11 – Item 2: Review the CARES Act and the related relief
6:58 – Item 3: Tax Loss Harvesting
8:54 – Item 4: Evaluating charitable contributions and tax deductions
10:48 – Item 5: Roth conversions
12:16 – Money Map Retirement Review
A number of IPOs are scheduled in the upcoming weeks and this always grabs the attention of investors. So we’ll talk about our approach to IPOs and how Joel feels about them. Plus, we have three mailbag questions covering disability payments, investing extra money, and losing trust in financial advisors.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-179-investing-in-ipos-mailbag-questions/
What we discuss on this show:
0:19 – Upcoming IPOs
2:32 – Mailbag Question: I’m a teacher and plan to retire in the next five years but this year’s schedule provided me the opportunity to start a side business. It’s going well so what should I invest it in?
5:05 – Mailbag Question: I’m a retired veteran living off my military pension and disability. If I find a job, I’d lose the disability. Is it worth finding a job to lose that?
6:44 – Mailbag Question: I once worked with financial advisor that ended up in jail for securities fraud. I haven’t worked with an advisor in more than 20 years because I have trouble trusting people in the industry. I could use the help now as my situation has gotten more complicated. How can I overcome the trust issues?
8:23 – Get a Money Map retirement review for yourself
Who doesn’t want to get the most out of their relationship with a financial advisor, but when does a request cross over to unreasonable? Let’s look at three examples of things that someone might hope for but won’t likely be in the cards.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-178-are-these-unreasonable-financial-requests/
What we discuss on this show:
1:12 – I want to get bigger returns with little to no risk
6:21 – Can you reduce the fees for me?
11:10 – How can I get out of paying taxes on the money in my IRAs and 401k accounts?
12:02 – The Money Map Retirement Review
Are you someone who has specific goals for retirement or have you not given it a lot of thought yet? Everyone will have a different plan for retirement and no matter what that might be, there are questions that can help you determine what it will take to achieve your dream.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-177-what-does-your-retirement-dream-look-like/
What we discuss on this show:
0:29 – Investing implications to people relocating due to work from home
3:21 – What’s Joel’s plan for where to live in retirement
7:13 – Quote of the week
7:56 – Living the retirement dream
8:58 – What will my social circle consist of?
12:23 – What will your eating habits be?
13:35 – What will an average day consist of?
15:05 – What will you do for exercise?
16:11 – Will you be traveling much?
17:28 – Mailbag Question: I’m anticipating a market crash any day now so I have about half my IRA in cash. How long should I wait before I reinvest it?
20:04 – Mailbag Question: My husband and I plan on taking care of one another as we get older unless one of us is in extremely bad health. Since this is the plan, how much long-term care coverage do we need?
21:27 – Mailbag Question: I have an MBA and I understand investments well so I’ve always handled investments myself. In your opinion, is there any reason for me to work with an advisor?
23:43 – Money Map Retirement Review
Your financial portfolio is typically divided into three different worlds of money – banking, insurance, and Wall Street. Do you know the differences between the three and how to best utilize each to give you the best chance for long-term success? On this show, Joel will take you through the three worlds and explain each in detail. We’ll also find out what he thinks about the election results and the recent positive vaccine news.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-176-3-worlds-of-money-market-update/
What we discuss on this show:
0:32 – Joel’s thoughts on the election and vaccine news
5:12 – Overview of the 3 worlds of money
6:45 – Breaking down the Banking world
9:16 – Insurance world
12:49 – Wall Street world
15:59 – Reviewing your portfolio
18:31 – Mailbag Question: My IRA has only made 7% this year while the market has made more than that. Should I fire my broker?
22:04 – Mailbag Question: I have four different investment accounts. Which one should I withdraw from first when I need money in retirement?
Geno Aureimma has 35 years under his belt as the UConn women’s basketball coach and the level of success he’s reached is unparalleled. You don’t win 11 national championships and put together six perfect seasons without being a tremendous leader. No matter what line of work you’re in, Auriemma’s approach to coaching, managing personnel, and business can provide some valuable lessons.
Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-175-leadership-lessons-from-uconn-head-coach-geno-auriemma/
What we discuss on this show:
1:43 – Welcome in Coach Auriemma
1:54 – How he got into basketball living in Italy
3:24 – Transitioning from player to coach
4:58 – How much of coaching is a natural talent?
6:45 – Can you get too close to your players or the people that work for you in a business?
8:26 – How do you find the leadership qualities in a player?
11:22 – Changing your approach based on your personnel
13:11 – What challenges has COVID created for the team?
19:43 – The historic winning streak
22:18 – If you could talk to any three people in history, who would they be?
Is it luck or analytics that drives your financial decisions? Or is it a little of both? Let’s take a look at some planning topics and determine whether we’re playing chess (analytical), roulette (complete luck), or poker (both) with our money.
Read more and get additional financial resources here: https://johnsonbrunetti.com/are-you-playing-financial-chess-roulette-or-poker/
What we discuss on this show:
1:54 – The difference between these three games.
2:54 – Timing the Market
4:03 – Deciding how much to convert from an IRA to a Roth IRA
6:35 – Picking a retirement date
7:11 – Choosing the right pension option
9:56 – Picking stocks
11:39 – Determining when to start your Social Security
15:21 – Mailbag Question: What’s a good way to invest money that we’ll likely use to buy a rental property in about three years?
17:24 – Mailbag Question: I’m trying to set an account so that I can rollover an old 401k. What’s the difference between these different companies I see commercials for? Who has the best investment options?
19:38 – Mailbag Question: Our house is a money-pit and we’re tired of repairing. We’re so fed up we want to sell and rent a place until we find something. Would it be silly to become renters again in our 60s?
Vanguard recently released its latest report on how Americans are saving and there are some eye-opening statistics about retirement accounts. Let’s look through some of the data that stood out to us and determine what it tells us about how well we’re utilizing the defined contribution plans.
Read more and get additional financial resources here: https://johnsonbrunetti.com/new-stats-on-how-americans-save-for-retirement/
What we discuss on the show:
0:40 – Target seasonal hires have different focus this year.
2:10 – Vanguard stats on target date funds.
6:17 – Stats on Roth 401k option
8:51 – Over the past 10 years, company stock holdings dropped 16%.
11:19 – Hardship withdrawals from 401k accounts has increased.
13:06 – Men more likely to contribute than women.
17:41 – Mailbag Question: Should I start my Social Security at 62 to help me pay off my mortgage before I retire?
18:47 – Mailbag Question: I’ve heard about a strategy using life insurance to create income in retirement? Is this a good idea?
20:22 – Mailbag Question: My husband wants to leave a lot of money to the kids but I’ve worked hard to save for retirement and don’t want to have to watch my money. What’s a reasonable amount to leave as a legacy?
The time has come again to open up the mailbag and find out what financial questions are on your mind. Today we get three questions dealing with variable annuity investments, flipping houses for income, and carry mortgage debt into retirement. Find out what Joel thinks about each of these topics on this episode.
Read more and get additional financial resources here: https://johnsonbrunetti.com/mailbag-variable-annuities-flipping-houses-and-mortgage-debt/
What we discuss on this show:
0:21 – Mailbag Question: We have an opportunity to refinance at a lower rate but it would be a 15 year mortgage and we only have 5 years left to pay now. It seems like a bad idea to have a mortgage heading into retirement. What do you think?
1:23 – Mailbag Question: What’s your opinion of flipping houses as an investment strategy?
4:59 – Mailbag Question: I have variable annuity that seems to have a nice income guarantee associated with it, but I have heard many people say variable annuities are usually a bad deal. What am I missing?
7:49 – A Money Map review will help get your questions answered.
Financial planning isn’t always an easy process. We often need to address situations that can be awkward for the client. Today we’ll tell you about six of these challenging conversations and how we approach them. Don’t let these awkward planning topics keep you from opening up and taking them head on.
Read more and get additional financial resources here: https://johnsonbrunetti.com/how-to-have-those-awkward-financial-conversations/
What we discuss on this show:
0:37 – The loss of Eddie Van Halen
2:32 – Removing a child as a beneficiary on an account.
4:30 – Working with both spouses during a divorce.
6:12 – When a client cries in the office.
7:35 – Client that’s made an embarrassing financial decision.
9:27 – Siblings that are arguing over finances.
12:08 – Client that needs to make a change with their financial advisor.
13:58 – A good way to begin addressing these awkward conversations.
Having worked with thousands of clients through the years, we’ve gotten to know the financial personalities of different types of professionals. Find out what challenges specific careers face with financial planning and what types of strategies are typically best to meet those needs.
Read more and get additional financial resources here: https://johnsonbrunetti.com/how-financial-planning-differs-by-profession/
What we discuss on this show:
0:58 – Teachers
3:00 – Doctors
6:37 – Engineers
8:09 – Entrepreneur/Small Business Owner
10:51 – Realtors
12:13 – Government Employees
16:55 – Mailbag Question 1 on College Funding
21:07 – Mailbag Question 2 on Improving Debt
22:42 – Mailbag Question 3 on the Stock Market
This year has led to some unique financial planning conversations so it’s no surprise that we’ve gotten a lot of questions. Let’s take this episode of the podcast to get to three topics that listeners have asked about that others are likely facing as well.
Read more and get additional financial resources: https://johnsonbrunetti.com/mailbag-student-loans-unemployment-taxes-and-couples-planning/
What we discuss on this show:
2:57 – Mailbag Question #1: I have $16k remaining on a student loan for my daughter. I can pay it off but it’s currently not accruing any interest and payments are temporarily suspended because of the pandemic. Should I just let it sit there for now?
5:14 – Mailbag Question #2: I was furloughed for about 4 months this year. I received unemployment during that time and I just realized I didn’t have taxes withheld from it. Will I have to pay penalties on this?
7:38 – Mailbag Question #3: My husband isn’t great with money so I handle all the bills and the decisions for our retirement accounts. As we get closer to retirement, should I make him get more involved?
Even the most easy-going person is probably dealing with a little added stress in today’s world. There’s a lot that you could be concerned about and emotion can lead to mistakes when it comes to financial planning. Today we’re going to get Joel’s response to hypothetical concerns based on current issues.
Read more and get additional financial resources: https://johnsonbrunetti.com/dealing-with-a-high-anxiety-mindset/
What we discuss on this show:
2:19 – We believe there’s going to be another Great Depression and we don’t want to have any money in the bank because it might disappear. What should we do with cash?
5:26 – I was supposed to go on an African safari in the fall but had to cancel that. I could go in the spring but it will cost significantly more. I feel like it’s worth it because animals are quickly dying of due to climate change. Should I spend more and take the trip?
7:52 – My son told me I should put half of my money in gold.
9:07 – I know we talked about waiting until at least 65 to claim Social Security but my friend said take it now because it’s not going to be around.
A busy year hasn’t slowed down at all as we move into fall. Let’s look back at some of the top financial headlines from the summer before opening the mailbag to talk insurance, mortgages, and the upcoming election.
Read more and get additional financial resources here: https://johnsonbrunetti.com/financial-headlines-from-the-summer/
What we discuss on this show:
1:19 – Salesforce replaces Exxon in the Dow.
5:04 – Dunkin permanently closing 800 stores by the end of the year
6:36 – Huge number of vacancies in Manhattan apartments. Is this a long-term trend?
8:21 – A big increase in online shopping this holiday season. FedEx is hiring 70,000 workers to handle shipping increases.
10:26 – Recent poll found 72% of Americans will prioritize financial planning after the pandemic.
14:51 – Mailbag Question 1: My husband has a substantial life insurance policy on him so I’m taken care of when he dies, but what happens if State Farm goes bankrupt and can’t pay the benefit?
17:26 – Mailbag Question 2: I have enough cash to pay off my house but not sure how much it benefits me to pay it off with mortgage rates so low.
19:39 – Mailbag Question 3: I’m worried about what might happen to the market after the election. Should I be moving my money to cash now?
22:11 – How we can help you on any of these issues.
Insurance is a product that we all rely on but it can be a frustrating and confusing process getting all of your coverage sorted out. The best way to get a grasp on your options is to understand the fundamentals of insurance. Join us for this special episode spotlighting Joel’s whiteboard breakdown.
Read more and get additional financial resources here: https://johnsonbrunetti.com/the-basics-of-insurance-planning/
Watch the video: https://johnsonbrunetti.com/insurance-planning-basics/
What we discuss on the show:
0:53 – Insurance conversation begins
1:09 – What is an insurance contract?
1:50 – Risk
2:24 – Different types of insurance.
We pride ourselves in putting out as much content as possible to assist people with their financial planning so today we’re going to highlight some of the best questions from our Money Wisdom Question Series.
Read more and get additional financial resources here: https://johnsonbrunetti.com/best-of-our-money-wisdom-questions-series/
Check out our Money Wisdom Question Series here: https://johnsonbrunetti.com/in-the-media/money-wisdom-question-series/
What we discuss on this episode:
0:34 – Pension: Lump Sum or Guaranteed Stream of Payments
2:01 – What does it cost to work with a financial advisor
4:06 – What is my retirement age?
6:45 – Define Fiduciary
8:28 – What do I do with my 401k when I leave my company?
It’s time to open up the mailbag again and answer the questions you have about financial planning and retirement. We’ll get to a dozen different questions that cover a variety of topics so it’ll be a busy show.
Read more and get additional financial resources here: https://johnsonbrunetti.com/mailbag-answering-your-investing-insurance-and-savings-questions/
What we discuss on this episode:
0:23 – Mailbag Question 1
2:12 – Mailbag Question 2
3:35 – Mailbag Question 3
5:06 – Mailbag Question 4
6:36 – Mailbag Question 5
8:41 – Mailbag Question 6
10:19 – Mailbag Question 7
12:10 – Mailbag Question 8
14:14 – Mailbag Question 9
15:34 – Mailbag Question 10
17:00 – Mailbag Question 11
18:48 – Mailbag Question 12
There are a lot of different tools to get you to retirement and some products will work better than others. Today we’ll answer your questions relating to 401k accounts, IRAs, money market accounts, insurance, and more. Plus, we’ll address the costs of financial advisors and what you should expect.
Read more and get additional financial resources here: https://johnsonbrunetti.com/?p=6133
On today's show:
0:20 – Mailbag Question 1
1:10 – Mailbag Question 2
2:55 – Mailbag Question 3
4:49 – Mailbag Question 4
6:27 – Mailbag Question 5
8:24 – Mailbag Question 6
10:00 – Mailbag Question 7
11:53 – Mailbag Question 8
Financial planning gets more complicated as you move through life and questions will undoubtedly arise along the way. Today we’ll answer a few of the submissions from pre-retirees and retirees dealing with financial and estate planning issues and provide as much information as we can.
Read more and get additional financial resources here: https://johnsonbrunetti.com/?p=6029
On today's show:
0:21 – Mailbag Question 1: I’ve been very blessed and have more than I’ll probably need in my life. Should I start giving away money to my kids and grandkids now so they don’t have to worry as much about estate taxes and probate costs?
2:05 – Mailbag Question 2: I’m thinking about getting married to someone 12 years old than me. I’m worried about what happens if he’s retired and I’m still working. Will this be a problem financially?
4:29 – Mailbag Question 3: I’m in the middle of a divorce after 30 years of marriage. Would I be better off with half of his 401k or half of his pension?
6:11 – Mailbag Question 4: My husband and I argue almost everyday about money because we haven’t done a good job of planning and it’s stressing us out. Is this normal or do we need some serious help?
8:16 – Mailbag Question 5: I’m the executor of my deceased mother’s will and my sister is currently living in mom’s house. I don’t want to kick her out but I think I might need the money from the sale to fund my retirement. How do I figure out if I’m okay with what I have or if I need to kick my sister out?
9:57 – Mailbag Question 6: My dad just died six months ago and I’m a little worried about my mom, who is in her late 70s and is now in charge of handling the investments for the first time in her life. I don’t know much about it myself so what should I tell her to do?
11:45 – How can someone take advantage of the Money Map review process?
Financial planning doesn’t just give a sense of security, it also ensures your family is taken care of as well. On this episode, Joel answers nearly a dozen questions from listeners that all pertain to some aspect of family finances.
Read more and get additional resources here: https://johnsonbrunetti.com/?p=5954
Today's show schedule:
0:19 – Mailbag Question 1: I always assumed I’d send my kids to an in-state college but my daughter is interested in a private school that costs six times as much. It’s hard for me to justify that kind of expense for an education.
4:43 – Mailbag Question 2: This is a second marriage for me and my husband. We file a joint tax return but keep all other financial matters separate. Is that okay or should we be doing something different?
6:53 – Mailbag Question 3: Is there a better way to save for college rather than pumping money into a 529 plan?
8:23 – Mailbag Question 4: My wife is significantly younger than me and I’m guessing she’ll outlive me by at least 10 years. Do I need to get life insurance to take care of her when I’m gone?
10:10 – Mailbag Question 5: I had kids later in life than most people. I’m almost 60 and my twin boys are heading to college in a few months. I want them to finish college without any huge student loans but I’m not sure I can pay for both without hurting myself financially. Which should I place a higher priority on?
11:30 – Mailbag Question 6: I’m thinking about having my mom sign my house over to me in case she goes into the nursing home and runs out of money. Is this a smart move?
12:27 – Mailbag Question 7: My brother tells me I have too much money in the bank. It makes me feel better to have it there in case of emergency. Is that really so bad?
14:14 – Mailbag Question 8: I read recently about a family that set up a complicated set of trusts. Our family is interested in creating some sort of generational wealth. What’s the best way to do it?
16:27 – Mailbag Question 9: I’m about to get married. It’s my second and her third. I want to keep all of our assets separate but how do we plan for retirement that way?
17:40 – Mailbag Question 10: We’ve never lived on a budget and my husband is very resistant to that in retirement. Without a budget, how can we be sure we don’t run out of money?
19:40 – Mailbag Question 11: I’m retired and my husband needs to retire but he refuses to walk away from work. Any suggestions to convince him that we’ll be fine?
We’re a little more than halfway through 2020 but there’s been enough news to keep us busy through the end of the year. With another round of relief potentially on the way, we thought it would be a great time to catch you up on all of the legislation that’s passed so far this year that impacts you financially.
Read more and get additional financial resources here: https://johnsonbrunetti.com/?p=5917
On today's show:
0:23 – Two key elements of the SECURE Act
4:45 – Let’s use some real numbers to show how it works.
8:28 – This will limit the ability to pass wealth between generations.
9:48 – Change of the RMD age
14:53 – Action taking during the pandemic
15:19 – The recovery rebate
17:12 – RMDs no longer required for 2020
We’re going back to the mailbag and taking questions that specifically deal with concerns from pre-retirees. Let’s look at strategies for building your 401k, how much you might need for retirement, and preparations to make as you approach your retirement date.
Read more and get additional financial resources here: https://johnsonbrunetti.com/?p=5894
Today's show schedule:
0:23 – Mailbag Question #1: I’m retiring in three years and I have almost a million in my 401k but I also have about $60K in consumer debt. Is it worth it to take money out of the 401k to pay it off now while I’m working?
2:09 – Mailbag Question #2: I’m retiring later this year and I’ll have about 16 weeks unused vacation and sick leave that they’ll have to pay me. I’m told I can take this all in my final paycheck or continue being paid on my normal schedule every two weeks after I retire. Does it matter which way I do it?
4:02 – Mailbag Question #3: I’m ready to retire but I won’t be old enough for Medicare for another six months. Should I just stick it out until then?
4:50 – Mailbag Question #4: I’m starting a new job with a lower base side but higher commissions. My base salary is too low to contribute to my 401k and pay my bills. Is it ok to just use my commissions for retirement savings?
6:15 – Mailbag Question #5: My company matches my 401k savings but they do it in company stock. I’m not excited about owning a lot of company stock but don’t want to miss out on the match. Should I still try to put in as much as I can?
8:25 – Mailbag Question #6: I’ve heard that you need between 15-20x your annual salary in savings to be able to retire comfortably. Is that accurate?
9:59 – Mailbag Question #7: My husband and I argue everyday about money because we haven’t done a great job saving for retirement and it’s stressing us out. Is this normal?
12:15 – How we can help with all of these things.
Real estate can be a huge piece of a financial plan, especially now that mortgage rates are at historic lows. We’ve gotten a lot of question for the show about this topic and today we’re running through nine different mailbag submissions that all tie into real estate.
Read more and get additional financial resources here: https://johnsonbrunetti.com/?p=5846
Today's show schedule:
0:20 – Mailbag Question #1: My house is already paid off but I’m about to sell it to downsize in a condo that’s about $100,000 cheaper. Should I put the money I make into the market?
1:54 – Mailbag Question #2: I want to start a business and make an addition to my house that will give me the space to do that. Should I take the money from IRAs or take out a business loan?
3:00 – Mailbag Question #3: I’m thinking about having my mom sign her house over to me in case she goes into a nursing home and runs out of money.
3:57 – Mailbag Question #4: I have two rental properties that have mortgages on them. I have enough in investments to pay off the mortgages but rent covers the mortgages right now. Do I even need to pay them off?
5:04 – Mailbag Question #5: I know that I need an emergency fund, but instead of keeping money in a savings account, can I use my home equity line if I need money in a pinch?
6:54 – Mailbag Question #6: We don’t have much saved but we’re about to sell our farm for just over $1 million. We’ve never really invested in the market so where do we start with this money?
8:28 – Mailbag Question #7: I wasn’t planning to move but my dream home came on the market. My current home is paid off but I’d have to take out a mortgage on this new one. I’m getting close to retirement so is it a bad idea to carry a mortgage into retirement?
9:51 – Mailbag Question #8: I’m the executor of my deceased mother’s will. My sister is currently living in mom’s house and I don’t want to kick her out. But I’m worried I’ll need the money from the home’s sell for retirement. How can I figure out if I have enough or if I need to kick her out?
11:34 – How we can help you work through any of these planning issues.
Poor decision-making isn’t always about picking the wrong path, it’s also due to people not making any decisions at all. When it comes to finance, there are many reasons why people struggle to determine what’s best for their portfolio and we want to identify a handful of those reasons on this episode.
Read more and get additional financial resources here: https://johnsonbrunetti.com/?p=5753
Today's show schedule:
0:36 – Having too many decisions to make.
1:49 – People doing too much research.
3:02 – Confusion in general makes it difficult.
4:15 – Do you see people that just don’t want to talk about money?
6:07 – How do you help people through big life events that carry a lot of emotion?
8:13 – Recapping all of these impediments.
9:49 – How we help you make decisions?
Conventional wisdom can be a great guide for investors but general guidance doesn’t always apply to each individual. There are exceptions for every rule and that’s what we want to discuss today.
Read more and get additional financial resources here: https://johnsonbrunetti.com/?p=5747
Today's show schedule:
0:49 – Let’s start with conventional wisdom in retirement planning.
1:06 – “You can’t go wrong with real estate. They aren’t making any more of it.”
2:25 – “There’s good debt and bad debt. Mortgage debt is good debt”
3:40 – “Retirement is a chance to relax after an exhausting career.”
5:00 – “If your current investments are doing well, try something else.”
6:39 – If people need guidance on what to do, how can that happen?
8:22 – Thoughts on UBER as an investment.
10:11 – Shifting that mindset from accumulating to protecting.
The retirement accounts set up through your employer are powerful saving vehicles but are you managing it properly? Some people obsess over their investments while others set it and forget it. Which strategy works the best and how can an advisor play a key role in your strategy? We’ll tell you about that on this episode.
Read more and get additional financial resources here: https://johnsonbrunetti.com/?p=5704
Today's show schedule:
0:28 – The plan for today’s show.
1:52 – What goes wrong when you don’t pay enough attention to your account?
3:10 – What about the people are obsessing over their 401k?
5:15 – Joel shares a story about a strategy that a huge company in LA uses.
6:12 – What’s the best way to get help in a 401k when it’s set up to do it yourself?
7:50 – How investing has changed in 401k accounts.
It’s time for another mailbag edition of the show and we’re answer five of your questions that cover a variety of retirement and financial planning topics.
Read more and get additional financial resources here: https://johnsonbrunetti.com/?p=5631
Today's show schedule:
0:18 – Mailbag Question #1: All the experts say you should work until 70 and then start Social Security. I’m only 57 and I can’t imagine working 13 more years. How important is this notion of working until 70?
2:02 – Mailbag Question #2: A home in our neighborhood was recently purchased for $350K and flipped less than a year later for $500K. I’m considering refinancing our home and re-doing our kitchen. Good move?
3:17 – Mailbag Question #3: I’ve interviewed 7 different financial advisors. They all have aspects that I like but no one seems perfect. Should I keep interviewing or am I being too picky?
6:14 – Mailbag Question #4: I have a life insurance policy that I’ve had for many years. I was able to stop paying premiums more than a decade ago while keeping the policy in place. But I just got a letter saying I need to start paying again to keep the policy. What happened?
8:45 – Mailbag Question #5: I have whiplash from watching the market for the last few months. What can I invest in that won’t be so volatile?
10:46 – If you don’t have a plan yet, here’s what you can do to take the first step.
Today we’re going to play a little game called ‘Investment or Not?’ where we’ll present a statement to Joel and he’ll tell us whether or not it’s an investment or something else.
Read more and get additional financial resources: https://johnsonbrunetti.com/?p=5626
Today's show schedule:
0:20 – Let’s a play a game: Investment or Not
0:36 – 1) I have a long commute to work and need a reliable vehicle so I think it’s a good investment to spend more on a nice car.
1:57 – 2) My wife always nags me about the boxes of old baseball cards I keep in the attic but I have to remind her that they’re an investment.
3:33 – 3) We’re putting in a screened-in porch. It’ll cost a little more than we expected but it’s a good investment in our home.
5:08 – 4) The company is doing well as it is but we can grow a lot faster by hiring this additional person so we’ve decided to make that investment.
6:08 – 5) We just found a piece of land in the mountains at what seems to be a really good price. We might buy it and eventually build on it or we might just hold onto it and eventually sell it.
7:38 – 6) This stock is rising quickly. I’m investing in 100 shares to hopefully make a quick buck and sell it later this year to pay for a vacation.
8:43 – What we need to make a recommendation to someone.
A lot of commonly held financial beliefs might not be as accurate as you’d like to believe. Joel will drop the truth on this episode and maybe open your eyes to a few things you weren’t aware of.
Read more and get additional financial resources here: https://johnsonbrunetti.com/?p=5410
Today's show schedule:
0:36 – Bonds aren’t always as great for retirees as people think.
1:32 – Income tax rates are currently close to historical lows.
2:21 – The hardest part of investing is managing your own behavior.
3:28 – Just because you’re an expert in one area doesn’t mean you’re an expert with money.
6:30 – You probably have more risk in your portfolio than you realize.
7:21 – Mailbag Question #1: My primary retirement concern is rising taxes down the road. Does that mean all of my retirement savings should be going into Roth?
8:39 – Mailbag Question #2: At this point in my life I’m not interested in making my portfolio much bigger. I just want to protect what I have. Is that short-sighted?
10:02 – Set up your visit and get your customized Money Map.
Today we’re getting back to the basics of financial planning by sharing the five commandments. These rules of thumb will serve as your financial compass and ensure that you’re on the right path for retirement.
Read more and get additional financial resources here: https://johnsonbrunetti.com/5-financial-commandments-everyone-should-follow/
Today's show schedule:
0:43 – Financial commandments today
1:23 – No 1 - Thou shalt not compare your investments to the stock market without proper context.
3:49 – No. 2 - Thou shalt not give up before giving your strategy enough time to play out.
5:05 – Warren Buffett always finds a way to simplify things.
5:50 – No. 3 - Thou shalt not chase big returns later in life.
6:18 – No. 4 - Thou shalt not ignore cost and fees.
7:08 – No. 5 - Thou shalt not overlook the importance of rebalancing and diversifying.
8:31 – Mailbag Question #1: I feel good about the amount of savings we have relative to the amount of income we need in retirement. I’m worried about nursing home costs and don’t have a good feel for how to plan for that. What’s your approach?
10:33 – If someone doesn’t have a plan, what’s the process to make that happen?
Joel and the team have returned back to the office now that the northeast is beginning to open back up, and people are curious how the planning process might be changing. While some things might be shifting, our four core philosophies will remain entrenched in everything we do.
Read more and get additional financial resources here: https://johnsonbrunetti.com/?p=5378
Today's show schedule:
0:34 – Joel and his team back in the office again.
1:46 – Are people shaking the complacency and ready to get going again?
2:56 – How is the financial planning conversation different now than it was before?
5:46 – The four core philosophies we preach
9:36 – How are these philosophies woven in to conversations with clients?
14:23 – Mailbag Question #1: I’m thinking about starting my own business but I would have to pull money about $75,000 out of my IRA, which would require paying taxes and penalties. I’m not scared of those penalties but interested to hear your take on it.
17:09 – Massive wealth is built without diversification.
19:09 – Mailbag Question #2: My mom passed away and left me about an IRA of about $350,000 in it. What do I need to know about this account and how should I invest it?
20:44 – Mailbag Question #3: My kids are both in their 20s and have been furloughed. They live with us so expenses are limited, but I’m wondering how to best help them financially during this time.
Are you letting the market downturn and the recession keep you from taking a close look at your finances? If you aren’t spending time repositioning your investments, you might be making a decision that will take years to overcome. Find out what Joel is telling his clients and why it’s vital that you avoid complacency during a financial crisis.
Read more and get additional financial resources here:
Today's show schedule: https://johnsonbrunetti.com/?p=5358
0:20 – Where is Joel broadcasting from this week?
1:15 – An update on Joel’s children during this quarantine and what’s coming.
3:03 – Big companies are big companies for a reason.
4:51 – What is the job market going to look like in the near future?
7:14 – What we’re talking to clients about right is avoiding complacency right now.
8:31 – It’s time for a giant reset for everyone.
10:18 – What would you say to someone to motivate them to stop being complacent?
14:43 – Mailbag Question #1: Is it better to work with an advisor that charges an hourly fee for advice or someone who charges a management fee based on percentage of assets?
19:37 – An advisor helps people make those tough decisions they wouldn’t make on their own.
21:29 – Mailbag Question #2: I’m nervous about how much money I have in the stock market. What’s the right amount for me to have invested in my late 50s?
Now that the initial financial shock has worn off and the fog has cleared, let’s take a look at where the economy currently sits and what impact the relief measures are having on small businesses.
Read more and get additional financial resources here: https://johnsonbrunetti.com/?p=5323
Today's show schedule:
0:27 – Give us a business update on the last week.
1:37 – From an economic standpoint, the shock has worn off.
3:08 – Most people are good people.
5:47 – It’s important to understand that not every businesses is in bad shape.
6:47 – Banks appear to be in strong shape.
8:11 – Technology is booming.
9:27 - What racing has taught Joel about investing.
11:33 - Joel shares an insider tip for investors that he uses.
15:05 - Two groups of people, those with a plan and those without a plan.
16:51 - If you want to have a complete plan, here’s the next step to take.
19:21 - Let’s talk PPP loans. What are you seeing on this front and what impact is it having?
21:08 - Here’s why the PPP program is so effective
23:46 - What our process to help clients looks like right now.
Things continue to fluctuate week to week so we’ll get a market update from Joel before we gain wisdom from Benjamin Franklin. Find out how some of his famous quotes can be applied to financial planning.
Read more and get additional resources here: https://johnsonbrunetti.com/?p=5299
Today's show schedule:
0:32 – Joel’s current working location update.
1:11 – What’s the current status and timeline for Johnson Brunetti and the northeast.
3:12 – In terms of the market and investing, what kind of conversations are you having right now.
5:18 – Mailbag Question: I have two old 401k that I’ve needed to rollover for a while now but I never got around to it. I’m ready now but is it still a good time to do that with the market down so much.
6:24 – You have three choices with your investments.
7:19 – You’re locking in your losses just by rolling it over.
8:41 - Time to talk about Ben Franklin quotes that relate to financial planning.
9:19 - “He that is of the opinion that money will do everything may well be suspected of doing everything for money.”
14:45 - “Those who are easily offended should be offended more often.”
15:22 - “By diligence and patience, the mouse ate into the cable.”
17:15 - “By failing to prepare, you are preparing to fail.”
17:54 - Mailbag Question: My family has had a stroke of good luck recently, a surprise inheritance from my aunt, and the coronavirus stimulus checks as a bonus. What should be my priority with this money?
19:41 - The advice for this question could be different for every person.
21:56 - Mailbag Question: Is it a good idea or a bad idea to have my investments, taxes, and legal documents for my estate handled by the same firm?
No one can predict exactly how the economy will recover from this pandemic but we can consider a few different possibilities. Joel explains the most common types of recoveries and what that might look like for our current crisis.
Read more and get additional resources here: https://johnsonbrunetti.com/?p=5284
Today's show schedule:
0:19 – Four types of market recoveries based on shape.
0:39 – The V-shaped recovery.
1:47 – The U-shaped recovery. Is that still a possibility?
2:31 – What makes a W-shaped recovery happen.
3:33 – How does the hockey stick recover work?
4:48 – The administration’s reaction to this crash has been swift and gives us the best chance to come out of this quickly.
5:52 - How the system almost seized up.
7:56 - Mailbag Question #1: I’m recently divorced and have just received money in a QDRO as part of our settlement. What are my options for what I can do with this money?
9:45 - Mailbag Question #2: I’m thinking about putting a large portion of my savings into cruise ship companies. They’ll eventually start sailing again and prices will go back up, right? I’m willing to wait.
12:00 - If you need to have a conversation about recovery, here’s how to do it.
As relief bills continue to roll out from the government to help individuals and small businesses, you might be wondering where all the money is coming from. Joel explains how trillions are borrowed, whether we should be worried about the debt, and how it could impact your investment decisions.
Read more and get additional resources here: https://johnsonbrunetti.com/?p=5277
Today's show schedule:
0:20 – Joel’s made some moves at the home office.
1:32 – Fun Fact about some of our country’s top companies.
2:38 – What we want to talk about today.
3:03 – Where does the money come from for these stimulus packages?
5:21 – How much is this national debt a problem?
7:06 – How do this affect us from a financial decision-making standpoint?
8:06 - If your’e in retirement, it’s a different plan.
9:18 - If you want to get your plan in place, here’s the process.
The government responded swiftly to the financial crisis facing our country due to the coronavirus pandemic, but it’s difficult keeping up with everything. Let’s review each of the provisions made for individuals and small businesses so you’ll have a better grasp of the relief being offered.
Read more and get additional resources here: https://johnsonbrunetti.com/?p=5171
Today's rundown:
0:44 – Why Joel is actually excited about this time.
1:36 – How will your business change once we come out of this?
3:44 – Communication might be great for a lot of advisors right now.
4:14 – Why we don’t require investment minimums from clients?
6:15 – So many people need help and advice right now because of all the changes and uncertainty.
8:46 – Let’s review all the action the government has taken recently.
9:09 – Tax filing deadline and IRA contribution deadline moved back.
10:08 – The recovery rebate going to individuals. How helpful will that be?
12:01 – RMDs not required for 2020. That affects a lot of clients.
13:04 - The early withdrawal penalty has been waived for retirement accounts.
14:27 - Paycheck Protection Program for small businesses.
17:17 - If you need to discuss any of the things, here’s how you can set up a 15 minute consultation.
20:12 - Mailbag Question #1: Should I press pause on my 401k contributions until the market is doing better?
21:46 - Mailbag Question #2: My wife and I are both restaurant managers at different places but both are closed right now so we’re laid off for the foreseeable future. Should we take money out of IRAs to get us through this rough patch?
Each of us has heard the phrase social distancing over and over again since the coronavirus outbreak began and it is great advice. What would that look like if you applied it to your financial planning? Let’s look at different investments and strategies that you should keep separate from each other.
Read more and get additional resources here: https://johnsonbrunetti.com/?p=5147
Today's rundown:
0:20 – We’ve been hearing a lot about social distancing so let’s apply it to finances.
0:40 – Let’s start with your emergency fund and the stock market.
1:37 – Keeping life insurance and investments apart.
3:41 – Next is high turnover investment strategies and after-tax brokerage accounts.
5:11 – Keeping your emotions and your financial decisions from spending time together.
6:35 – Mailbag question #1: With all the craziness going on right now, is this a good time to buy gold?
8:03 - Mailbag question #2: I looked to move some money into an annuity for protection about a year ago. Now that the market has dropped, this moves looks appealing. Is it too late to this?
9:54 - If you need help right now, here’s how to get in touch.
After a brutal economic month of March, Congress passed the Coronavirus Aid, Relief, and Economic Security Act. This new stimulus bill aims to help individuals and businesses while also stabilizing the economy. Let’s talk about the key financial takeaways and what they might mean for your long-term plan.
Read more and get additional resources here: https://johnsonbrunetti.com/?p=5140
Today's rundown:
0:20 – Joel recording from home after setting up all the equipment.
2:08 – Congress passed the stimulus bill. What’s Joel’s opinion on the $1,200 payment for individuals.
4:07 – What about the long-term effects?
4:45 – RMDs for 2020 are no longer required. Why is this important?
7:57 – You can now pull money out of IRAs and 401ks without the penalty. Would this be something you’d want to consider?
9:51 – What kind of conversations is Joel having with clients in recent weeks?
We’re all going to be impacted in some way by the fallout from the financial markets and it might take some time for many people to recoup the losses suffered this past month. Once this passes and we come out on the other side, what will you do to strengthen your portfolio and avoid the same mistakes?
Read more and get additional resources here: https://johnsonbrunetti.com/?p=5123
Today's rundown:
0:25 – How is Joel adjusting to life working from home?
3:05 – Why we feel confident our small business we’ll make it through this shutdown.
5:54 – Tweet of the Week
7:14 – Once we get on the other side of this, what are some of the things we should learn from this. That’s our focus today.
7:40 – What should we be prepared for next time that we weren’t this time?
9:36 – Next time we’ll know we had too much risk in our portfolio.
15:28 – Should you be making changes to your 401k right now and repositioning yourself?
17:07 – Maybe we should dial back the amount of news and information we’re taking in everyday.
20:04 – Now that we’re talking about planning, what exactly does a plan consist of?