That Financial Guy: Recent Episodes
Keith and Jack Wilson
That Financial Guy is a podcast dedicated to making financial planning and investing easy to understand and to implement. Keith and Jack Wilson are practicing financial advisors who own a financial planning firm, Wilson Financial Advisors. They are a father and son team "spreading a wealth of information" helping you along your personal finance journey. Whether its personal finance including investments, retirement planning, estate planning, financial planning, college funding, budgeting and more you will find it here! Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.
Most people think they have a financial plan.
But in reality, they just have a collection of accounts.
In this episode, I break down what a real financial plan actually looks like — not theory, not fluff, but how it works in real life.
At its core, a financial plan should address three major areas: retirement, survivorship, and education planning — with tax strategies woven through all of it.
We walk through how to build a retirement blueprint by defining when you want to retire, what that lifestyle actually costs, and how to connect where you are today to where you want to be. We also dig into how to structure your investments across tax buckets, create a sustainable income plan, and avoid common mistakes like ignoring withdrawal strategy and sequence of returns risk.
From there, we cover survivorship planning — making sure your spouse and family are protected, your beneficiaries are set correctly, and your estate plan is in place. And finally, we talk about education planning and how to intentionally fund future goals for your kids using tools like 529 plans, UTMAs, or brokerage accounts.
This is about giving your money purpose.
Don’t guess. Have a plan.
Helping you to be wise with your money!
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Most financial decisions are not about right or wrong.
They’re about tradeoffs.
In this episode, I walk through some of the biggest financial tradeoffs I see when working with clients — and how to think through them in a practical, real-world way.
We talk about saving more now versus living more now, paying off your mortgage versus investing, retiring early versus retiring comfortably, and how to help your children without compromising your own retirement. These are decisions that don’t have perfect answers, but they do have consequences depending on what you choose.
I also share real client-style examples to show how these tradeoffs actually play out inside a financial plan, and how small adjustments can change the outcome in meaningful ways.
The goal is not to find the “best” answer.
The goal is to understand what you’re gaining, what you’re giving up, and how it fits into your overall plan.
Because once the plan is clear, the decisions become much easier.
As always, the plan comes first.
Helping you to be wise with your money!
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Most people think their portfolio is the problem.
Performance is off. The market feels uncertain. Something just doesn’t feel right. So the natural reaction is to start changing investments.
But in many cases, the issue isn’t the investments.
It’s the lack of a clear plan.
In this episode, I walk through why so many people focus on the wrong thing and how a well-structured financial plan creates clarity, discipline, and confidence. We talk about aligning investments with specific goals, understanding time horizons, avoiding performance chasing, and why your savings rate, tax strategy, and income plan matter just as much — if not more — than what you’re invested in.
Because one portfolio cannot do everything. And without a plan, it often ends up doing very little well.
If you’ve ever felt unsure about your investments, this episode will help you take a step back and ask a better question.
Not “what should I invest in?”
But “what is my plan?”
As always, the plan comes first.
Helping you to be wise with your money!
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Some of the most criticized retirement strategies are not bad strategies… they’re just misunderstood.
In this episode, I walk through several of the most commonly disliked financial strategies and explain when they may actually make sense within a well-structured plan.
I cover topics like annuities, Roth conversions, holding cash, paying off your mortgage before retirement, the 4 percent rule, spending flexibility, and delaying Social Security. These are all areas where I see strong opinions, but the real answer often depends on context.
This is not about promoting any one strategy. It is about understanding what problem each strategy is designed to solve, and when it may or may not fit into your overall plan.
Because the goal is not to chase popular opinions. The goal is to make intentional decisions that support your long-term financial life.
As always, the plan comes first.
Helping you to be wise with your money!
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In this episode, I answer three real questions that recently came up in client meetings — questions that many people are probably wondering about themselves.
First, we talk about 401k savings rates. Should you count your employer match as part of your savings rate? I explain why I prefer to separate your personal savings discipline from the company match, and how to think about what your true savings rate should be depending on your retirement goals.
Next, we discuss a question from a retired couple in their early 60s who asked me something very direct: “Are we crazy for wanting to move to another house in retirement?” We walk through the financial planning considerations behind making a move later in life, including mortgage decisions, qualifying for a loan after retirement, and how housing choices fit into a sustainable retirement income plan.
Finally, we dive into inherited IRA rules — specifically a situation where the beneficiary was less than ten years younger than the original account owner. That age difference can change how inherited IRA distributions work and may allow for life expectancy distributions instead of the ten-year rule.
As always, the plan comes first!
Helping you to be wise with your money!
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How do ordinary families quietly become millionaires?
Not by chasing hot stock tips. Not by building tech startups. Not by getting lucky.
In this episode, I break down what I call the Middle Class Millionaire Formula — the simple, disciplined habits that consistently build seven-figure net worths over time.
We talk about steady income, avoiding lifestyle creep, participating in employer retirement plans, and why the race to your first $100,000 is the true financial inflection point. I also discuss the average age most people reach a million-dollar net worth — and why wealth accumulation for the middle class is gradual, not explosive.
This episode isn’t about speculation. It’s about structure. It’s about stacking small advantages over decades and allowing compound interest to do the heavy lifting.
If you’ve ever wondered whether becoming a millionaire is realistic without extraordinary income, this episode will give you clarity — and a practical path forward.
Because in the end, you don’t need brilliance.
You need discipline.
And as always, the plan comes first.
Helping you to be wise with your money!
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Retirement is not a finish line. It is a phase.
In this episode, I wrap up the Plan First Financial Path with Pillar Seven: Live, Adjust, Repeat. After clarifying goals, building a foundation, protecting the plan, investing with purpose, paying less taxes over time, and turning savings into income, this final pillar is about what happens next.
Most financial plans assume life stays the same. Same spending. Same health. Same markets. But retirement moves in seasons, and real planning requires recalibration.
I introduce the concept of an annual life audit — not just reviewing your portfolio, but reviewing your life. What did you actually enjoy? What spending did not matter? Did your money align with your values? Is your time being spent the way you imagined?
We talk about dynamic spending instead of rigid withdrawal rules, the importance of flexibility, and the three levers of retirement stability: spending, income timing, and asset allocation. I also dive into something rarely discussed — purpose risk — and why money alone does not create fulfillment.
The plan funds the freedom. But freedom without direction can feel empty.
Helping you to be wise with your money!
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This is the moment everything has been building toward.
In this episode, I break down Pillar Six of the Plan First Financial Path, Turn savings into income. After clarifying goals, building a foundation, protecting the plan, investing with purpose, and planning to pay less taxes over time, this is where we convert decades of saving into a structured retirement paycheck.
I talk about the mindset shift from saver to spender, why guaranteed income sources like Social Security, pensions, annuities, and Treasury bond ladders can create stability, and how I approach covering essential living expenses first before allocating money toward travel, lifestyle, and discretionary spending.
We dive into withdrawal sequencing, tax coordination, bucket strategies, sequence of returns risk, and the role of cash buffers in protecting early retirement years. I also discuss total return strategies, the 4% rule, Bill Bengen’s updated research, and why flexibility matters more than any single percentage.
Turning savings into income is not about guessing the perfect withdrawal rate. It is about designing a system that supports your life with confidence and adaptability.
Helping you to be wise with your money!
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Most people think tax planning is about getting the biggest deduction this year. Real tax planning is about paying the least amount of tax over your lifetime.
In this episode, I break down Pillar Five of the Plan First Financial Path, Pay less taxes over time. This pillar focuses on making intentional tax decisions that align with your long-term goals, not just the current tax return.
We dive deep into Roth contributions and Roth conversions, and why it may not always make sense to automatically max out a traditional 401k. I explain the importance of balancing tax deductions today with tax-free income later, and how current and future tax brackets should influence those decisions.
This episode also explores the difference between tax preparation and tax planning, including how CPAs often focus on minimizing taxes this year, while long-term planning looks across decades. I walk through practical examples of tax loss harvesting and tax gain harvesting in non-retirement accounts, showing how these strategies can create flexibility and reduce future tax exposure when coordinated with income planning.
Helping you to be wise with your money!
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Investing should support your plan, not drive it.
In this episode, I break down Pillar Four of the Plan First Financial Path, Invest with purpose. This pillar focuses on slowing down and being intentional about how and where you invest, instead of chasing speculative ideas or the next hot stock tip.
We talk about why time horizon matters, how different types of accounts serve different roles, and why short term money should be invested conservatively. I also explain why Roth accounts are often positioned more aggressively due to their long term, tax free growth potential, while money needed in the next five years may be better suited for cash, high yield savings, or CDs.
This episode also covers the importance of automation, setting up consistent contributions, and paying yourself first, so investing becomes a habit instead of an emotional decision.
When the plan dictates how you invest, emotion fades and purpose takes over. This episode explains why investing comes after clarity, foundation, and protection in a holistic financial plan.
investing with purpose, retirement investing, Roth IRA strategy, investment time horizon, personal finance podcast, plan first financial path, long term investing
Helping you to be wise with your money!
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A strong financial plan is not just about growth. It is about resilience.
In this episode, I break down Pillar Three of the Plan First Financial Path, Protect the plan. This pillar focuses on building safeguards that keep progress intact when life throws the unexpected your way.
We talk about the role of emergency funds, why credit cards are not a substitute for true cash reserves, and how insurance fits into a well-designed financial plan. I walk through how life insurance can be tied to specific goals like income replacement, mortgage protection, and college funding, and why coverage should evolve as responsibilities change.
This episode also explores the importance of disability insurance and long-term care planning, and how these tools are not about fear, but about protecting the plan you have already worked hard to build.
When protection is intentional, the rest of the plan can move forward with confidence. This episode explains why protecting the plan is a critical pillar before investing with purpose.
protect the plan, emergency fund planning, life insurance strategy, disability insurance planning, long term care planning, retirement risk management, financial planning podcast, plan first financial path
Helping you to be wise with your money!
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Last week, we talked about the first pillar of the Plan First Financial Path, Clarify your goals and priorities. Because once you know where you want to go, the next question becomes practical. Do your day to day money habits actually support those goals?
In this episode, I break down Pillar Two of the Plan First Financial Path, Build a foundation. This pillar is all about understanding where your money goes, knowing your true living expenses, and creating awareness around cash flow and debt.
We talk about simple ways to track spending using tools many people already have, how to identify where dollars are quietly leaking, and why awareness is not about restriction but control. I also walk through common approaches to debt reduction, including the snowball and avalanche methods, and how to choose the approach that actually keeps you consistent.
Without a clear foundation, it becomes very difficult to intentionally allocate your dollars, no matter how strong your goals or investment strategy may be. This episode explains why building a foundation is critical before moving on to investing with purpose.
Helping you to be wise with your money!
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Most people think financial planning starts with numbers. In reality, it starts with clarity.
In this episode, I break down the first pillar of the Plan First Financial Path, Clarify your goals and priorities. Before any investment, tax, or retirement strategy makes sense, you have to know what your money is actually for.
I explain why vague goals lead to reactive financial decisions, how priorities create meaningful tradeoffs, and why this first pillar sets the direction for every other part of your plan. We talk about the difference between dreaming and deciding, and how clarity helps align spending, saving, investing, and risk with what matters most to you.
This episode kicks off a seven-week series exploring each pillar of the Plan First Financial Path and explains why the plan always comes first, before trying to manipulate investments to reach a goal.
Helping you to be wise with your money!
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Most people think financial planning starts with picking investments. In reality, it starts with a plan.
In this episode, I introduce the Plan First Financial Path, a holistic framework built to help people make smarter financial decisions with intention, not reaction. The Path is made up of seven interconnected pillars that work together to support your specific goals, not a one size fits all checklist.
Those seven pillars are Clarify your goals and priorities, Build a foundation, Invest with purpose, Pay less taxes over time, Protect what you are building, Turn savings into income, and Live, adjust, repeat.
These are not steps to complete once and move on from. They are a flexible, evolving approach to financial planning where the plan always comes first and the investments serve the plan, not the other way around.
This episode sets the foundation for a seven week series where we will break down each pillar in detail and show how they work together to guide real life financial decisions across every stage of life.
Helping you to be wise with your money!
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In this year in review episode of That Financial Guy Show, Keith Wilson looks back at what actually happened in the markets in 2025 and why it mattered for investors. From the early year market correction known as the Tariff Tantrum to a strong recovery that pushed markets to new highs, Keith breaks down the lessons learned. He also covers the One Big Beautiful Bill, changes to tax planning, the government shutdown, interest rate cuts, the surge in artificial intelligence stocks, and why a solid financial plan should guide decisions instead of emotions.
Helping you to be wise with your money!
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Most people don’t fail financially because they lack information. They fail because behavior breaks down when life gets emotional, unpredictable, or uncertain.
In this episode, I explain why a written financial plan changes behavior in a way advice alone never can. A real plan isn’t about predicting the future perfectly. It’s about being prepared when life changes, because life always does.
I walk through real client stories, including how one client’s commission-based income led to a larger emergency fund that later protected them after a job loss, how another client stopped emotionally reacting to market downturns once volatility was accounted for in their plan, and why even unexpected events like divorce are easier to navigate when a plan already exists.
You’ll also hear why it’s better to be approximately right than one hundred percent wrong, why gathering documents and completing questionnaires actually matters, how modern digital financial plans act as living, breathing tools, and why reviewing your plan annually is essential to staying aligned with real life.
It’s about clarity, confidence, and having a steady framework to return to when things change.
Helping you to be wise with your money!
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In this episode I walk through one of the most confusing areas in retirement planning today, the rules for inherited IRA and inherited Roth IRA accounts. I start with the simplest scenario, when a spouse inherits an IRA, and then work step by step into increasingly complex situations including non spouse beneficiaries, the ten year rule, Required Beginning Date considerations, eligible designated beneficiaries, stretch IRA rules for pre 2020 deaths, and how to determine whether the deceased had reached their RMD age. I also break down one of the most misunderstood topics in this area, what happens when someone inherits an IRA that was already inherited once before. I explain how the rules differ depending on whether the original owner died before or after the Secure Act, and when the stretch rule continues versus when the ten year clock applies. The episode also covers trust beneficiaries, see through trust requirements, five year rules, complications with multiple trust beneficiaries, and why a poorly drafted trust can unintentionally accelerate distributions. This episode provides a clear, detailed roadmap to understanding the rules and avoiding costly mistakes.
Helping you to be wise with your money!
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In this episode of That Financial Guy Show, Keith Wilson welcomes a special guest — his son, Jack Wilson — for a candid and entertaining conversation about how different generations think about money. From patience vs, impatience to lifestyle creep, adaptability, communication, and the classic “start early” lesson, Keith and Jack break down what younger and older investors can learn from each other.
Jack shares the real financial mindset of today’s 20 somethings, including the pressures of higher costs, student loans, and the desire for flexibility over traditional retirement timelines. Keith offers the perspective of investors who grew up prioritizing stability, consistency, and long term planning. Together, they reveal how these different money lenses can complement each other rather than clash.
The two tackle the myths each generation carries, the habits that hold people back, and the opportunities that open up when families talk honestly about money. You’ll hear about adapting to new financial tools, avoiding lifestyle creep, building patience, and using early habits to your advantage no matter your age.
If you want a fun, relatable look at money through two different generational perspectives — with plenty of father son banter mixed in — this episode delivers real insights anyone can use.
Helping you to be wise with your money!
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The first decade of retirement isn’t just another phase — it’s the most important chapter of your entire retirement journey.
In this episode of That Financial Guy Show, Keith Wilson breaks down why the first 10 years set the trajectory for everything that comes after. From spending patterns and taxes to Social Security timing, sequence of returns risk, identity shifts, and health — this episode shows why your early retirement decisions matter more than you think.
You’ll learn:
• Why the “Go-Go Years” (your 60s and early 70s) set the pace for spending
• How sequence of returns can make or break a portfolio in the early years
• Why your first decade is a tax-planning goldmine
• How Social Security timing shapes long-term income
• The emotional side of retirement that people don’t talk about
• Common mistakes retirees make early — and how to avoid them
• How to build habits that make the next 20 years smoother and more secure
Retirement isn’t something that happens to you — it’s something you design.
And the first decade is where the blueprint comes together.
🎧 Tune in to learn how to make the early years of retirement intentional, flexible, and financially confident.
Helping you to be wise with your money!
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Retirement isn’t just about what you earn — it’s about what you keep.
In this episode of That Financial Guy Show, Keith Wilson breaks down the overlooked tax traps that quietly drain retiree income and create unnecessary stress. From Social Security taxation to IRMAA surcharges, Keith explains how to spot — and avoid — the hidden tax bites that come from well-intentioned decisions.
You’ll learn:
• How the “stacking rule” for income determines whether your capital gains are taxed at 0%, 15%, or 20%
• Why even municipal bond interest can make your Social Security taxable
• How one large IRA withdrawal can raise your Medicare premiums two years later
• The truth about Required Minimum Distributions (RMDs) and how Roth conversions or Qualified Charitable Distributions (QCDs) can help
• Why mutual fund distributions can create surprise tax bills in taxable accounts
• What the 3.8% Net Investment Income Tax (NIIT) really applies to
• How to design an income sequence across taxable, tax-deferred, and Roth accounts to stay efficient for life
Because managing taxes in retirement isn’t about doing more — it’s about doing things in the right order.
🎧 Tune in for a clear, practical deep dive into how to make your money last longer by keeping more of what you’ve already earned.
Helping you to be wise with your money!
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Every year teaches investors something new — and 2025 was no exception.
In this episode of That Financial Guy Show, Keith Wilson looks back at the biggest financial lessons from the year — what the markets reminded us, what changed for good, and what timeless truths still hold.
You’ll learn:
• Why the February–April correction proved that patience beats panic every time
• How corrections are normal (they happen nearly every year) — and why staying invested works
• Why cash is useful, but not a long-term strategy
• How The One Big Beautiful Bill changed the tax landscape — and why smart planning still matters
• Why inflation never really disappears (and what it means for retirees)
• How simplicity and clarity can bring more confidence than complexity ever could
• And why the best financial plan is one you keep updating, not one you file away
Because real financial success isn’t about predicting the next move — it’s about learning, adapting, and preparing for whatever comes next.
🎧 Tune in to reflect on 2025 — and make sure 2026 starts on the right foot.
Helping you to be wise with your money!
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You’ve spent decades focused on growing your money — but once you retire, the game completely changes.
In this episode of That Financial Guy Show, I explain why successful retirement isn’t about chasing returns, it’s about building reliable income that lasts.
You’ll learn:
• The crucial difference between investment planning and income planning
• How to protect yourself from sequence-of-returns risk — the silent portfolio killer
• Why creating a “retirement paycheck” is more important than tracking daily market swings
• How to organize your money into short-term, mid-term, and long-term buckets for stability and growth
• The role of taxes and withdrawal order in maximizing retirement income
• How to build flexibility so your plan holds up in both good and bad markets
Because the real goal isn’t to have the biggest portfolio — it’s to have the most dependable lifestyle.
🎧 Tune in and learn how to turn your savings into an income plan that works as hard as you did.
Helping you to be wise with your money!
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They say opposites attract… until it’s time to talk about money.
In this episode of That Financial Guy Show, I unpacke the emotional and practical side of managing money as a couple — and why love and finance often speak completely different languages.
You’ll learn:
• Why most money fights aren’t really about money at all — and what they actually mean
• The four common money personalities and how they clash (Saver, Spender, Avoider, Planner)
• How couples miscommunicate about retirement goals, daily spending, and “financial fairness”
• Simple steps to create transparency, reduce resentment, and build teamwork around finances
• How to turn money from a source of stress into a shared vision for your future together
Whether you’re newly married, approaching retirement, or somewhere in between — this episode helps you bridge the financial gap between love, logic, and lasting partnership.
Because financial planning isn’t just about numbers — it’s about understanding the person across the table.
Helping you to be wise with your money!
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Your Social Security filing decision isn’t just about you, it’s about your spouse, your survivor, and your family’s long-term income.
In this episode of That Financial Guy Show, I break down one of the most misunderstood parts of retirement planning: spousal and survivor benefits. You’ll learn:
• How spousal benefits actually work and why they’re capped at 50% of your spouse’s Full Retirement Age amount
• How delaying your own benefit can permanently raise your spouse’s survivor benefit for life
• What divorced spouses need to know, including the 10-year rule and the remarriage age cutoff
• How recent changes in 2025 repealed the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), increasing benefits for millions of retirees
• Smart timing strategies to coordinate Social Security with pensions, annuities, and portfolio income
• How to protect your plan from the sequence-of-returns risk in early retirement
If you’re married, divorced, or just starting to plan your retirement income, this episode will help you make smarter, more confident Social Security decisions — and maybe even boost your lifetime benefits
Helping you to be wise with your money!
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You’ve probably heard it before: “Just max out your 401(k) and you’ll be fine.”
But here’s the truth, if that’s your only strategy, you could be setting yourself up for a massive tax problem later.
In this episode of That Financial Guy Show, Keith Wilson explains why focusing only on your 401(k) can limit your flexibility in retirement and what to do instead. You’ll learn:
• Why every dollar in your 401(k) is fully taxable later and how that can lead to higher taxes and Medicare premiums.
• Why your savings rate matters more than contribution limits.
• How to use a 25% savings rate as a framework for smarter, more balanced saving.
• The power of tax allocation by spreading savings across 401(k), Roth, and brokerage accounts.
• How building tax flexibility now gives you more control over your retirement income later.
Because real wealth isn’t about maxing out a single account, it’s about creating options across all of them.
🎧 Tune in and learn how to make your savings work smarter, not just harder.
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We’ve all heard the retirement “rules of thumb”, save a million bucks, withdraw 4%, you’ll be fine. But what if those old rules are setting you up for mistakes?
In this episode of That Financial Guy Show, Keith Wilson takes aim at the five most common retirement myths that can derail even the smartest savers. You’ll learn:
- Why the “$1 Million to Retire” rule is misleading (and how inflation + cost of living change everything).
- The truth about Social Security, why it’s not going away, and what really matters.
- Why the famous 4% rule isn’t one-size-fits-all (and what Bill Bengen, Michael Kitces, and even Dave Ramsey get wrong).
- How lifestyle creep quietly eats away at high earners and how to stop it without living like a monk.
- Why money alone doesn’t guarantee happiness in retirement and what to focus on instead.
Retirement isn’t about myths, magic numbers, or fear it’s about clarity, flexibility, and purpose.
🎧 Tune in now to learn what really works when it comes to building and living your best retirement.
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If you’re in your 40s or 50s and feel like you’ve fallen behind on retirement savings, this episode is for you. Maybe you’ve heard the advice to start investing early—but life happened, and now you’re wondering if it’s too late to build a secure future. Spoiler: it’s not. In this episode of That Financial Guy, I’ll walk you through ten realistic, actionable steps to help you catch up, rebuild, and create a retirement plan that works—starting right now. From money mindset shifts and tracking your spending, to building an emergency fund, increasing your income, and redefining what retirement can look like, we’re covering it all. No fluff. Just clear, practical guidance for people ready to take control. You’re not too late—you’re right on time.
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It’s not just what you invest in, it’s where you invest it that makes the difference.
In this episode of That Financial Guy Show, I break down how to use different types of accounts: 401(k)s, IRAs, Roth IRAs, and brokerage accounts, to maximize growth and minimize taxes.
You’ll learn:
- How each account is taxed and why that matters.
- Why mutual funds in a brokerage account can create surprise tax bills.
- How one big index fund in a brokerage account could limit tax-loss harvesting.
- Why Roth accounts should be your pure growth engine.
- Which investments fit best in 401(k)/IRA accounts vs. Roth vs. brokerage.
This is the overlooked strategy called asset location, aligning investments with the right account type. Get it right, and you can grow wealth faster and keep more of what you’ve earned.
🎧 Tune in now to make sure your money is working smarter across every account you own.
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Most retirement planning advice is about saving enough. But what happens when you’ve saved, you’re ready to retire… and you still can’t bring yourself to spend?
In this episode of That Financial Guy Show, I dive into the surprising psychology of spending in retirement. You’ll hear:
- Why many retirees feel guilty about spending—even when the numbers say they’re fine.
- The three biggest behavioral traps: fear of running out, lifestyle guilt, and market anxiety.
- How a financial plan acts like a permission slip to enjoy your money.
- Real client stories of moving from fear to confidence.
- Practical strategies to balance living today while preparing for tomorrow.
Because the truth is, retirement isn’t just about having money—it’s about having the freedom to enjoy it without regret.
🎧 Listen now and learn how to turn your plan into confidence and your savings into a life well-lived.
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Everywhere you turn these days, people are talking about Roth conversions like they’re the ultimate retirement hack. But from what I’ve seen in working with real families, the truth is… Roth conversions can be overrated.
In this episode of That Financial Guy Show, I share real stories from my own clients — times when a Roth conversion made sense, and times when it would have been a costly mistake.
You’ll hear about:
- A client who almost converted in his peak earning years (and why that would’ve been a tax disaster).
- A retiree who thought she needed to convert late in life (but the math said otherwise).
- A couple ready to convert, but who didn’t realize paying the tax out of their IRA killed the benefits.
- Families who did get it right — using gap years before Social Security and big IRAs that would’ve caused huge RMDs later.
Here’s the bottom line: Roth conversions are a tool, not a cure-all. For some people, they’re brilliant. For others, they’re unnecessary and expensive.
If you’ve ever wondered, “Should I be doing a Roth conversion?” this episode will give you the clarity you need.
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Most people think saving for retirement is simple: load up the 401(k), defer taxes, and let it grow. But here’s the truth when Required Minimum Distributions (RMDs) hit, Uncle Sam may take a bigger bite than you expect.
In this episode of That Financial Guy Show, I break down:
- Why putting everything into a 401(k) can backfire in retirement.
- The Go-Go, Slow-Go, and No-Go years of retirement spending—and why your healthiest years matter most.
- Real client stories where updating the financial plan changed everything.
- Overlooked wealth strategies like Roth conversions, brokerage accounts, and smart debt reduction.
Retirement isn’t just about having money—it’s about having flexibility and freedom to enjoy life while you can.
👉 Whether you’re 10 years from retirement or already thinking about RMDs, this episode will give you practical strategies to retire smarter, spend with confidence, and avoid costly mistakes.
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Two people, same age and income, but very different retirement outcomes—what made the difference? It wasn’t luck—it was strategy. In this video, I break down the five essential moves to make in the final five years before retirement. From maximizing savings and designing a steady income plan, to shielding yourself from market dips, optimizing taxes, and envisioning your ideal lifestyle—this is your blueprint to retire confidently and on your own terms. Don’t let indecision or poor planning derail your future. Listen to this episode to take control of your retirement game plan.
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Are you wondering if you’re truly ready to retire? In this episode, we explore the 8 key signs you’re ready to retire, covering everything from financial planning and health insurance to emotional readiness and lifestyle goals.
Whether you're in your 50s or early 60s and asking, “Can I retire soon?”—this episode breaks down:
- How to tell if burnout and stress are signs it’s time to retire
- Why emotional and mental readiness are just as important as money
- The importance of retiring to something meaningful
- What a solid retirement plan and withdrawal strategy really look like
- How to manage health insurance before Medicare
- Why paying off debt before retirement can make or break your plan
If you’re planning to retire in the next few years—or just thinking ahead—this is a must-listen for anyone who wants to retire with confidence.
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In this episode of That Financial Guy Show, I breakdown the massive new legislation known as The One Big Beautiful Bill—without the politics, just the financial facts.
What’s permanent? What’s temporary? And most importantly… how does this affect your bottom line?
We cover:
- Permanent tax cuts (and what that really means)
- Bigger standard deductions—especially for seniors
- The new "Senior Bonus Deduction"
- SALT cap changes and estate tax updates
- Tax-free tips and overtime (yes, seriously)
- What’s happening with Social Security taxes
- Trump Accounts for kids—what they are and how they work
- Which provisions are helpful… and which come with strings attached
Some of these changes are great. Others? Not so much. And a lot of them expire in just a few years.
If you’re planning for retirement, paying off debt, saving for your kids, or just trying to keep more of what you earn—this episode is for you.
📌 No politics. Just practical insights.
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🕖 It’s Sunday night. Time for... The Bottom Line.
Tonight’s story starts in a garage.
Two friends. One big idea.
And the company that would put a computer in every home.
But just as fast as it all rose…
He was out.
Fired from the very company he built.
Most people would’ve disappeared.
He got better.
Started over. Bought a little animation studio you might have heard of — Pixar.
And then… found his way back
What came next?
Well… you’re probably holding it in your hand.
🎧 Press play and hear the true story of the ultimate comeback.
“The Garage” — a new episode of The Bottom Line
👇 Audio below.
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Retirement isn’t just a financial decision — it’s a relationship one. In this episode of That Financial Guy, I walk you through the three (okay, four) critical conversations every couple should have before they leave the workforce.
We’ll cover:
- How to align on your retirement lifestyle and monthly spending
- What to do when one spouse wants to retire early and the other doesn’t
- How to plan for “what ifs” like illness or losing a spouse
- And why dreaming together might be the most powerful financial move of all
Whether you're five years out or already halfway packed for Margaritaville, this episode will help you retire together — not just at the same time.
🎧 Listen in and then ask your spouse the questions that really matter.
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What happens when you retire… and then unretire just four days later?
In this episode of That Financial Guy, I tell the true story of Jim — a 64-year-old IT professional who thought he was ready for retirement until a surprise tax bill and market dip sent him back to work by Tuesday.
We’ll walk through his short-lived retirement and unpack the three key lessons that could save you from the same fate:
- Why retirement isn’t just a math problem
- How tax diversification can make or break your income strategy
- And the hidden risk of withdrawing in a down market
Whether you're a few years away or already retired, this episode offers real talk, real numbers, and a reminder that confidence without planning can be costly.
👉 Need help stress-testing your retirement? Visit www.wfa-nc.com
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In this episode of That Financial Guy, I’m doing something a little different. I’m pulling money lessons from some of the most iconic characters in pop culture — Seinfeld, The Office, and Star Wars.
Yep, I went there.
What can George Costanza teach us about emotional investing? Why does Michael Scott’s idea of bankruptcy make the perfect case for financial literacy? And what does Anakin Skywalker’s impatience have to do with long-term wealth building?
I’ll walk you through:
- Why following your emotions is a terrible investment strategy
- How financial education (even the basics) can change everything
- What it means to adopt a Jedi-like mindset when it comes to money
- And how to build a financial plan that doesn’t go full Death Star
This one’s fun, a little nerdy, and surprisingly packed with actionable advice. So whether you’re a fan of sitcoms, space battles, or just want to get better with your money — give it a listen.
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Are your financial decisions really based on logic — or are they being shaped by deep-rooted beliefs you don’t even realize you have?
In this episode of That Financial Guy Show, financial planner Keith Wilson explores the concept of money scripts — the unconscious money beliefs formed in childhood that influence how we save, spend, invest, and plan for retirement. You’ll learn about the four most common money scripts: Money Avoidance, Money Worship, Money Status, and Money Vigilance — and how they impact real financial behavior.
Whether you’re working toward financial independence, preparing for retirement, or just trying to understand your relationship with money, this episode will help you gain clarity and confidence in your financial life.
🎧 Listen in as we bridge the gap between financial psychology and smart planning — because understanding the why behind your money habits is just as important as the how.
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In today’s episode of That Financial Guy Show, I’m diving into one of the hardest conversations in retirement planning:
What do you do when your adult children ask for financial help — but your retirement savings are on the line?
As a parent, wanting to help is natural. But giving away too much money during retirement can derail your financial security, strain relationships, and even lead to financial hardship later in life.
In this episode, I break down:
✅ Why giving too much to adult children is one of the biggest hidden risks to your retirement
✅ How I recommend setting healthy financial boundaries without damaging family relationships
✅ Practical scripts you can use to say “no” with love (and without guilt)
✅ How to create a personal “giving budget” that protects your future
✅ Warning signs of elder financial abuse — and how to recognize and prevent it
If you’re nearing retirement, already retired, or just trying to balance generosity with financial independence, this episode will give you the tools, confidence, and real-world advice you need to protect your hard-earned savings.
Because real love isn’t about endless bailouts — it’s about building a secure future for everyone.
🎧 Tune in now and learn how you can support your family without sacrificing your own retirement security.
And don’t forget to subscribe to That Financial Guy Show for more personal financial strategies, retirement planning advice, and real-world money conversations!
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What to Do When the Stock Market is Down
If you've checked your investment accounts lately and felt a little uneasy — you're not alone. But the good news? Market downturns don’t have to derail your financial future.
In this episode, I’m breaking down what really happens when the market drops, what a correction and bear market actually mean, and most importantly — what you can do about it. I’ll walk you through 7 smart strategies to help you stay calm, stay focused, and even find opportunity in the chaos.
I’ll cover:
- Why panicking is the worst thing you can do
- How to think about “stocks on sale” during dips
- The upside of doing Roth conversions when markets are down
- Strategic RMD planning for inherited IRAs
- Tax-loss harvesting in plain English
- Why rebalancing matters
- And why stopping your 401(k) contributions now could be a big mistake
My goal is to help you stay grounded and confident — no matter what the headlines say. So if you’ve been feeling nervous or unsure about your next move, this one’s for you.
Let’s dive in.
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In this episode of That Financial Guy Show, I’m challenging some of the most popular financial "rules" you've probably heard—like the 4% rule for retirement withdrawals, saving 10 times your salary, the 100-minus-your-age rule for investing, or always maxing out your 401(k). The truth is, not all of these rules make sense for everyone. Some are outdated, some are just guidelines, and a few are downright silly. I break down where these rules came from, why they might not apply to you, and how to think beyond the one-size-fits-all advice. It’s okay to break the rules—sometimes it’s even the smarter move.
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In this episode of That Financial Guy, I break down the various investment accounts available for kids and how they can set the foundation for a strong financial future. From saving for college to teaching them about investing early, I will explore the key differences between:
- 529 Plans – The go-to option for education savings with tax advantages, but with restrictions on how the funds can be used.
- UTMA Accounts – A flexible way to gift assets to minors, but control shifts to the child at a certain age.
- Custodial Roth IRAs – A powerful, tax-free growth opportunity for kids with earned income, setting them up for long-term wealth.
- Regular Brokerage Accounts – A simple and flexible way to invest, but with flexibility
I will discuss the benefits, limitations, and tax implications of each, helping you decide which account is the best fit for your child’s future goals. Whether you're saving for college, building generational wealth, or just looking for a smart way to introduce investing, this episode covers what you need to know.
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In this episode, I take a straightforward look at managing your 401k after retirement. I will be discussing practical options, such as whether to transfer your 401k to an IRA or maintain it in your current plan, and explain the pros and cons of each choice. Our conversation covers:
- Conversion Options: Evaluating the benefits and drawbacks of different rollover strategies.
- Withdrawal Strategies: The Rule of 55!. Planning systematic withdrawals to optimize your retirement income.
- Tax Implications: Understanding the tax considerations that come with each decision.
- Risk Management: Balancing potential growth with the need for financial security.
- Expert Analysis: Insights from financial professionals to help inform your decisions.
This episode aims to provide clear, actionable information for anyone looking to make informed choices about their retirement savings.
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In this episode, we’re diving into the world of Health Savings Accounts (HSA)—one of the most powerful yet often misunderstood financial tools. We’ll break down how to maximize your HSA benefits, common mistakes to avoid, and strategies to turn your account into a long-term wealth-building asset.
Join us as we discuss:
✔️ Who qualifies for an HSA and why it matters
✔️ The best ways to save, invest, and spend your HSA funds
✔️ Tax advantages and how to make the most of them
✔️ Why your HSA could be a secret retirement powerhouse
Whether you're new to HSAs or looking to fine-tune your approach, this episode will give you the practical tips and insights you need to make smarter healthcare and financial decisions.
🎧 Tune in now and take control of your retirement savings!
Let me know what you think! Leave your comments and questions here: keith.wilson@lpl.com
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So, you have saved and invested diligently all your working life and the time has come to retire. You feel comfortable,,,, but there could be things you haven't thought about that could ruin the plans you laid forth! LIKE:
-Sequence of returns risk
- Risk of long term care expenses
- Investing too aggressively/speculatively in retirement
- Investing too conservatively in retirement
- Over confident with your income, causing you to procrastinate
- Paralysis from analysis
- Poor tax planning and tax allocation of your assets
In this episode we discuss the killers of retirement plans and give some possible solutions.
Send your questions and comments to: keith.wilson@lpl.com
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I want you to be more confident in your future:
whether that be through preparing for retirement,
financial planning, portfolio analysis, or college planning.
I trust the information you receive through these videos
proves helpful with your personal financial situation!
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I am looking forward to seeing you achieve your financial goals!
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There are some new tax law changes for 2025! 401k contribution limits have changed to $23,500. Over 50 is $31,000. There is now a new "super" catch up provision for ages 60 to 63 with a maximum 401k contribution of $34,750.
Inherited IRA's will now have to start taking required minimum distributions as well as empty that IRA within 10 years (if you inherited the IRA in 2020 or later)
If the Tax Cuts and Jobs Act is not extended by the end of 2025, then we revert back to the old and higher tax rates. Odds are that it will be extended. Many other tax and retirement account changes have taken place as well.
For the complete 2025 tax summary: https://www.johnhancock.com/content/dam/onejohnhancock/pdfs/annuities-media/TRGFLY_Tax_Guide.pdf
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I want you to be more confident in your future:
whether that be through preparing for retirement,
financial planning, portfolio analysis, or college planning.
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In this episode I talk with Kelly Augspurger, CLTC, CSA who is a Long Term Care specialist.
We dive into topics of just what is long term care? What are the chances of needing long term care? We break down the myths associated with long term care and how to pay for it?
Check out Kelly's YouTube channel @steadfastinsuranceagency
Check out Kelly's Podcast @steadfast care planning
send your questions and comments to: keith.wilson@lpl.com
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I want you to be more confident in your future:
whether that be through preparing for retirement,
financial planning, portfolio analysis, or college planning.
I trust the information you receive through these videos
proves helpful with your personal financial situation!
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If you inherited an IRA or Roth IRA in 2020 or after, The IRS has just changed the rules! The updated 10-year rule and its impact on beneficiaries. Whether you're inheriting a traditional or Roth IRA, understanding these regulations is key to avoiding penalties and maximizing your inheritance.
What the 10-year rule means for required distributions?
Differences for eligible designated beneficiaries (spouses, minors, and others).
Tax implications you should know about.
Strategies to help you manage and plan for inherited IRA funds.
Here is the rmd table for beneficiary IRA's: https://www.irs.gov/pub/irs-pdf/p590b.pdf
Let me know what you think! Leave your comments and questions here: keith.wilson@lpl.com
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I want you to be more confident in your future:
whether that be through preparing for retirement,
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I t
Helping you to be wise with your money!
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Is an Annuity Right for You? 🤔
Considering an annuity but unsure if it’s the right fit for your financial goals? In this podcast, we break down the basics of annuities, their benefits, and potential drawbacks. Whether you're planning for retirement, looking for guaranteed income, or just exploring your options, we’ll help you decide if an annuity aligns with your needs.
📌 What You'll Learn:
What is an annuity?
Types of annuities (fixed, variable, indexed).
Pros and cons of annuities.
Who benefits most from annuities?
Key factors to consider before buying one.
🎯 Stay Informed
Annuities can be a great tool for some, but they’re not for everyone. Watch now to see if it’s the right move for your financial plan!
Let me know what you think: keith.wilson@lpl.com
Helping you to be wise with your money!
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📝 Get your Free Retirement Plan checkup
https://wfa-nc.com/retirement-plan-check-up
To schedule a complimentary consultation with me: 👉https://go.oncehub.com/keithwilson1
I want you to be more confident in your future:
whether that be through preparing for retirement,
financial planning, portfolio analysis, or college planning.
I trust the information you receive through these videos
proves helpful with your personal financial situation!
Website: www.wfa-nc.com
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I am looking forward to seeing you achieve your financial goals!
Helping you to be wise with your money!
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Are you ready to take control of your finances and build a brighter financial future? In this podcast, two seasoned financial advisors share expert tips to help you save smarter, spend wisely, and grow your wealth. Whether you're looking to create a budget, invest for the first time, or plan for retirement, these actionable strategies are tailored to set you on the right track.
📌 What You'll Learn:
- Simple budgeting techniques
- How to build an emergency fund
- Investing basics for beginners
- Tips to reduce debt faster
- Long-term strategies for financial freedom
💡 Don't forget to:
✅ Like this video if you found it helpful
✅ Subscribe for more financial tips
✅ Share with friends and family who want to improve their finances
💬 Got questions or tips of your own? Drop them in the comments below!
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I want you to be more confident in your futur
Helping you to be wise with your money!
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Is life insurance worth it? What type of life insurance should I have? Is whole life better than term? That's what we will be covering in this episode. Mr. Anthony Ruffalo joins me again (even though he said he wouldn't).
Helping you to be wise with your money!
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📝 Get your Free Retirement Plan checkup
https://wfa-nc.com/retirement-plan-ch...
To schedule a complimentary consultation with me: 👉https://go.oncehub.com/keithwilson1
I want you to be more confident in your future:
whether that be through preparing for retirement,
financial planning, portfolio analysis, or college planning.
I trust the information you receive through these videos
proves helpful with your personal financial situation!
Website: www.wfa-nc.com
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To see more videos discussing personal finance Subscribe:
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Are you ready to take control of your financial future? In this episode I am joined by Anthony Ruffalo, CFP and we have a candid and authentic conversation about core financial planning essentials. Financial Planning can be broken down into 3 key parts; Retirement, Education and Survivorship. Something Anthony calls RES. We will be guiding you through the key strategies to build a stable financial foundation.
Helping you to be wise with your money!
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Do taxes go away when you retire? Well, some do. Like FICA and Medicare that was deducted from your paycheck when you were working. But there are certain taxes that still would come into play when you retire that takes some tax planning strategies.
Lets get into those taxes you may face when you retire and ways to help minimize taxes in retirement.
Here is the IRS social security tax calculator: https://itap1.for.irs.gov/owda/0/inve...
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📝 Get your Free Retirement Plan checkup
https://wfa-nc.com/retirement-plan-ch...
To schedule a complimentary consultation with me: 👉https://go.oncehub.com/keithwilson1
I want you to be more confident in your future:
whether that be through preparing for retirement,
financial planning, portfolio analysis, or college planning.
I trust the information you receive through these videos
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Website: www.wfa-nc.com
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Retiring early requires a LOT of planning. Here are 5 things to consider.
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📝 Get your Free Retirement Plan checkup
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I want you to be more confident in your future:
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financial planning, portfolio analysis, or college planning.
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Want to open an investment account for your child? Well, custodial accounts come in different flavors and it depends on what your goal is for the account. Is it saving for college? Investing for their future retirement? Or just getting them started with investing?
Custodial accounts can be a great way to start building wealth for your children. In this video I will be discussing advantages and disadvantages of each type of account to help you decide what is best for both you and your child.
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I want you to be more confident in your future:
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I am looking forward to
I've been a financial advisor for over 35 years and have seen some common financial mistakes that people make like:
Going to cash when the market goes down. This can be a mistake because you could miss out when a rebound happens.
Lifestyle Creep. As your income increases you should still maintain your savings rate. Don't keep up with the Jones'!
Credit card usage. Credit card debt is a big issue. Get a debt reduction plan. Use the "snowball effect" or the "Avalanche Effect"
Not automating their savings: Set up a automated savings plan from your bank account to your savings. Start with your emergency fund, then graduate to your 401k and other savings goal. Don't save what's left over pay yourself first!
Not having a financial plan: by having a financial plan you have a plan of action that will answer the questions of , How much should I be saving? How do I get out of debt? How much to save for college savings plan for the kids?
Taking 401k loans. 401k's are meant for retirement. Not for vacation, cars or other luxury items. 401k loans are taking away from your future retirement income.
Procrastinating on getting a will and Power of Attorney: without a will the court will decide who takes care of the children and who gets what.
Buying too much of a car. A car is a depreciating asset. Use these guidelines, 20% down, car payment should be 10% of your net income and don't finance more than 3 years.
Helping you to be wise with your money!
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I want you to be more confident in your future:
whether that be through preparing for retirement,
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I trust the information you receive through these videos
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In this episode of That Financial Guy I talk with, my brother, Kevin Wilson. We discuss his somewhat recent move to Prescott Arizona, What are some of the changes that he experienced as far as cost of living, housing costs, and quality of life since he has moved there. Could this be a retirement destination!!! According to a recent study from The Motley Fool, quality of life ranked the #1 factor in considering where to retire. But there are other factors to consider when thinking about your destination to retirement.
Are you ready for retirement? If you are in your 50's, here are some things to check off your list to be prepared for retirement:
- Evaluate your current plan to make sure it's on track
- Review your investment strategies
- Review your social security statements for accuracies
- Consider Roth conversions
- Get out of debt
- Consider Long Term Care Insurance
- Make sure estate planning documents are in place and review beneficiary designations.
Check out the YouTube video version of this podcast here: https://youtu.be/NfEI_cPLtqo
Helping you to be wise with your money!
To see more videos discussing personal finance Subscribe:
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https://wfa-nc.com/retirement-plan-check-up
To schedule a complimentary consultation with me: 👉 https://wfa-nc.com/connect
I want you to be more confident in your future:
whether that be through preparing for retirement,
financial planning, portfolio analysis, or college planning.
I trust the information you receive through these videos
proves helpful with your personal financial situation!
Website: www.wfa-nc.com
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I am looking forward to seeing you achieve your financial goals!
Sarah, a 24 year old entering the workforce as a pharmacist, wants to retire at age 50. Lofty goals! Kudos to her for thinking about retirement at age 24, but can she do it? Mike and Lisa, ages 32 and 33, are small business owners with 2 small children and would like to retire in their 50's at the same time fund their children's education. That's their story, let's see how Keith and Jack can shed some light on their situation!
To see the podcast on YouTube: https://youtu.be/cGcehv4IWVk
Helping you to be wise with your money!
To see more videos discussing personal finance Subscribe:
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📝 Get your Free Retirement Plan checkup
https://wfa-nc.com/retirement-plan-ch...
To schedule a complimentary consultation with me: 👉 https://wfa-nc.com/connect
I want you to be more confident in your future:
whether that be through preparing for retirement,
financial planning, portfolio analysis, or college planning.
I trust the information you receive through these podcasts and videos
proves helpful with your personal financial situation!
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I am looking forward to seeing you achieve your financial goals!
Randy and Linda have a difficult situation. Age 66 and 70. $550,000 in retirement accounts. No emergency fund, 100k in debt, wants to buy a house in a few years, Term insurance is expiring. He is crazy about roth conversions!! How do we handle this one?
So you got a cash money gift for Christmas or Birthday. Maybe it was a $1,000 gift! What do you do with it? Here are some wise ideas.
For the video link of this podcast: https://youtu.be/8PMcMKx3_Io
Helping you to be wise with your money!
To see more videos discussing personal finance Subscribe:
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📝 Get your Free Retirement Plan checkup
https://wfa-nc.com/retirement-plan-check-up
To schedule a complimentary consultation with me: 👉 https://wfa-nc.com/connect
I want you to be more confident in your future:
whether that be through preparing for retirement,
financial planning, portfolio analysis, or college planning.
I trust the information you receive through these videos
proves helpful with your personal financial situation!
Website: www.wfa-nc.com
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I am looking forward to seeing you achieve your financial goals!
Now is the time to get serious with your money. Many times people come to us and say, "I need to get serious with my finances". What does that mean exactly. It could mean different things to different people. Some people are in need of sticking to a budget. What comes in goes right out and need help with identifying where the money goes. Other folks are at the point in their life where they are making decent incomes and just socking excess cash flow in the bank instead of investing it and need direction on how to put their money to work for them. Retirement planning could very well be the largest financial goal someone could have. It's never too early to start thinking about investing for your future self in retirement. In this podcast we will give some tips and ideas of getting you on track with budgeting, reducing costs, automating your savings, debt reduction, investing and retirement planning.
For the video version of this podcast, check us out on YouTube! https://youtu.be/qbaH3EpVrEY
Sweeping changes are being proposed to retirement plans! The Secure Act 2.0 is about to be passed and will make changes to your 401k plan, SEP, SIMPLE IRA and other nuances. If passed, this proposal will change RMD (Required Minimum Distribution) age to age 75. However, that will be phased in starting at age 73 and eventually to age 75. This is huge! 401k plan contributions would be auto enrolled once your employment starts. SEP IRA’s and SIMPLE IRA’s would have the option to offer Roth contributions. This is significant because some self-employed workers may make too much money to make a Roth contribution traditionally. The proposal is also making enrollment in a 401k plan automatic. Company matches can now go toward a Roth option instead of a traditional 401k. There are many other items that are being proposed in the Secure Act 2.0. If congress does not act on this before years end it will be pushed until next year and may go through additional changes. However, as it stands now this does have wide bi-partisan support. For the video version of this podcast click here https://youtube.com/watch?v=wqks-LW77SY&feature=shares
Do this now, before the end of the year! There are certain things you need to do to take advantage of before the year’s end. Flexible Savings Account: If you don’t use it, you may just lose it. Health Savings Account: Are your maxing it out? And are you investing It? Required Minimum Distributions (RMD) – Don’t forget to take it or you may be penalized. Qualified Charitable Distributions: Now is a great time to contribute to a charity using your RMD. Tax loss harvesting: In a year like we are having, it could be a good time to sell securities for a loss to get a deduction. But be aware of the wash sale rule. Capital gains distributions: Be careful of what mutual funds you buy toward the end of the year as they may have a capital gains distributions. Health insurance: Don’t glaze over your options and consider ACA if your income is lower. You could qualify for a subsidy. Roth Conversions: Is now a good time to consider a roth conversion? When markets are low it could mean a great opportunity.
The maximum contribution to a 401k in 2022 is $20,500 for those under age 50 and a catch up provision of an additional $6,500 if you are over 50. If you can not max out your 401k, don't feel bad! Only about 15% of people do. The main thing is to contribute as much as what your company match is to get the "free" money. Consider other alternatives beyond that, such as a Roth IRA and a taxable account. Instead of maxing out your 401k, think about maxing out your retirement in other areas. It comes down to taxes. In this episode we discuss the alternatives and how to position yourself for retirement.
In this episode of "That Financial Guy" we talk about how managing your emotions can determine your outcome with investing. Bear markets and recessions come AND go. What you do during those turbulent times makes a difference! It's all about responding versus reacting to the negative news. Two emotions can ruin your financial goals: Fear and Greed. Fear, when markets are down and you want to get out to "stop the bleeding" and Greed, when things are going up and up and you have a fear of missing out (FOMO). So here are some tips to manage your emotions and manage what you CAN control!
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In this episode of "That Financial Guy" we talk about how to make sense of financial planning. Too many times people are confused, intimidated and worried about their finances. A financial plan can give you a blue print of your financial path. But how do you start? What questions do you ask of a financial planner? Am I going to be alright? Financial planning isn't easy but it can be simple. At the core, most people just want to make sure they will have enough to retire and live comfortably, make sure their spouse is taken care of in the event of a pre-mature death and provide for their children to make sure their education expenses are taken care of.