Don Sowa's MoneyTalk

Donna and Nathan report that the lowest earners have seen the highest increase in wage growth in 2022, explain a tax loophole which allows individuals earning under a certain threshold to pay 0% on capital gains, and offer advice on steps you can take now to ensure your annual tax filing goes smoothly.

Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais EA, CFP®, CIMA®; Air Date: 1/24/2023

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This time of year we tend to see an increase in questions from clients and listeners, so we wanted to touch on a few that we though might interest you. Donna addresses the following: "Why was a portion of my non-deductible Roth conversion taxable?", "With regard to my annuity, should I still follow the 4% rule for withdrawals with interest rates so high?", "Should I be making contributions to a traditional or a Roth IRA?", and "Should my spouse and I combine our checking accounts into a joint account, or keep them separate?".

Host: Donna Sowa Allard, CFP®, AIF®; Air Date: 1/23/2023

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The insurance game is complicated and if you have a claim it can feel a bit like a David and Goliath scenario, but the representation of a public adjuster can be one way to even the scales. Nathan brings on senior public adjuster Andy Gurczak from All City Adjusting to explain the best way to handle the insurance claims process and the tactics insurance companies use to maximize profits.

Host: Nathan Beauvais EA, CFP®, CIMA®; Guest: Andy Gurczak, Senior Public Adjuster; Air Date: 1/20/2023

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When our loved ones pass away, they leave behind a legacy, but what happens when they leave behind debt? Donna and Nathan take us through the various types of inherited debt and how they are treated, and discuss the questions you should be asking during the interview process for a new financial advisor.

Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais EA, CFP®, CIMA®; Air Date: 1/19/2023

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Few things matter more when it comes to investing than understanding what game you’re playing. Donna and Nathan discuss how your time horizon informs the way you should judge an investment. Also, our MoneyTalk Moment in Financial History covers the American banking industry before the Fed, when instability forced a shift from local banking to the national institutions we’ve come to rely on today.

Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais EA, CFP®, CIMA®; Air Date: 1/18/2023

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People have a bias toward the negative, and one of the reasons for this is that our survival instincts tend to magnify negative experiences in our memories to protect us from future pain. Donna and Nathan discuss how pessimism can derail our better judgement when it comes to investing.

Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais EA, CFP®, CIMA®; Air Date: 1/12/2023

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The Senate Appropriations Bill and the Inflation Reduction Act passed last year introduced some new opportunities for tax savings and retirement account benefits, Donna and Nathan explain how to take advantage of the key changes, including energy tax credits, the increased RMD age, new Roth features, auto enrollment for 401k plans, and more. Also, the hosts discuss the drastic distinction between getting wealthy and staying wealthy as described in Morgan Housel’s acclaimed book, The Psychology of Money.

Hosts: Donna Sowa Allard, CFP®, AIF® & Nathan Beauvais EA, CFP®, CIMA®; Air Date: 1/11/2023

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CDs and money markets typically don’t entered into the conversation when looking at investment options, but with the spread between the risk free rate and returns on equities at its lowest point in decades, more and more people are adding these low risk options to their portfolios. Donna addresses some listener FAQs, including: Is it a good time to buy CDs and money markets, why is a strong dollar bad for investors, and what should I consider when inheriting money?

Host: Donna Sowa Allard, CFP®, AIF®; Air Date: 1/9/2023

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As we stand at the brink of tax season, we are joined by an expert in the field of taxation to address one of the more anxiety provoking areas in the world of money and finance. Nathan brings on CPA John Briggs to discuss tax issue, including: common IRS myths, best practices for 1099 earners, frequent misconceptions about deductions, and important tax code changes that you should know about.

Host: Nathan Beauvais EA, CFP®, CIMA®; Guest: John Briggs, CPA; Air Date: 1/6/2023

Often times retirement reality doesn’t meet our retirement expectations, whether your facing an unexpected need for part time work, the acceptance of your new identity outside your profession, or sudden health issues. Donna and Nathan talk through five of the more common reasons why retirement plans get derailed, and the importance of building flexibility into your plan.

Hosts: Donna Sowa Allard, CFP®, AIF®, Nathan Beauvais EA, CFP®, CIMA® & Daniel Sowa; Air Date: 1/5/2023

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