Choosing a college is a major decision, and understanding how to pay for it can be just as important as deciding where to go.

On this episode of **McNamara on Money**, Justin McNamara talks with Julie Shields-Rutina of the **Massachusetts Educational Financing Authority (MEFA)** about navigating the college financial planning process. With National College Decision Day approaching, they discuss how families can compare financial aid offers, understand the difference between need-based grants and merit scholarships, and evaluate federal and private student loan options.

Julie also explains how tools such as MEFA’s College Cost Calculator can help families make true apples-to-apples comparisons of what different schools will actually cost. The conversation explores the long-term impact of student debt, the value of planning ahead with 529 savings accounts, and important considerations when borrowing for college.

Whether your family is reviewing acceptance letters now or preparing for college years down the road, this episode offers practical guidance for making informed decisions about education and its cost.

📅 Want to speak with the team at McNamara Financial?

Schedule a consultation today:

👉 https://mcnamarafinancial.com/contact

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McNamara Financial is a family-owned, independent, fee-only financial planning and investment management firm. For over 30 years, we’ve helped individuals and families on the South Shore and beyond navigate their financial futures with clarity, confidence, and care.

💼 Come see what it’s like to work with a fiduciary.

http://mcnamarafinancial.com

In this episode of McNamara on Money, Mike McNamara continues the series “Real People, Real Lives, Real Financial Situations” with Susie, a recent widow facing some important decisions about the next chapter of her life.

Together, they look at the real financial and emotional questions that can come with losing a spouse, from whether to remain in a longtime family home or consider downsizing, to managing investments, planning for taxes, and preparing for the possibility of future long-term care.

Mike also discusses the role of cash reserves in retirement and how having enough money set aside for several years of expenses can provide the confidence to stay invested for the long term, even when markets become uncertain.

It’s a practical conversation about much more than numbers. It’s about independence, security, family, and making thoughtful financial decisions during one of life’s biggest transitions.

📅 Want to speak with the team at McNamara Financial?

Schedule a consultation today:

👉 https://mcnamarafinancial.com/contact

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McNamara Financial is a family-owned, independent, fee-only financial planning and investment management firm. For over 30 years, we’ve helped individuals and families on the South Shore and beyond navigate their financial futures with clarity, confidence, and care.

💼 Come see what it’s like to work with a fiduciary.

http://mcnamarafinancial.com

In this episode, Alyssa McNamara Reed talks with Mark Friedman, owner of Senior Helpers Boston, about what it really takes to help an aging parent remain safely and independently at home.

They explore the challenges facing the “sandwich generation,” as adult children balance careers, families, finances, and the increasing care needs of their parents. Mark explains why planning early matters, from evaluating whether a home is suitable for aging in place to understanding the difference between skilled medical care, personal assistance, and companionship.

The conversation also addresses the financial realities families can face, including home modifications, professional caregivers, and the difficult decisions that arise as care needs increase.

Most importantly, Alyssa and Mark discuss why families should have these conversations before a crisis occurs. Aging in place is about more than staying in a familiar home. It’s about creating a realistic plan that supports safety, independence, dignity, and quality of life for the years ahead.

📅 Want to speak with the team at McNamara Financial?

Schedule a consultation today:

👉 https://mcnamarafinancial.com/contact

⸻

McNamara Financial is a family-owned, independent, fee-only financial planning and investment management firm. For over 30 years, we’ve helped individuals and families on the South Shore and beyond navigate their financial futures with clarity, confidence, and care.

💼 Come see what it’s like to work with a fiduciary.

http://mcnamarafinancial.com

In this episode of *McNamara on Money*, Joan McGrath, CEO of Plan of Massachusetts and Rhode Island, joins the program for a practical conversation about financial planning for individuals with disabilities and the families who support them.

Joan explains the important differences between SSI and SSDI and why eligibility rules can make financial planning particularly complicated. The discussion explores how first-party and third-party special needs trusts can help preserve access to certain government benefits while allowing additional resources to be used to improve a beneficiary’s quality of life.

The conversation also covers ABLE accounts, pooled trusts, and options available to families who may not have a large estate. Joan explains how her organization combines trust administration with the involvement of licensed social workers who provide advocacy, guidance, and ongoing life care planning.

It’s an accessible introduction to a complicated area of planning, with useful information for families thinking about how to provide financial support, preserve benefits, and create greater long-term security for a loved one with special needs.

📅 Want to speak with the team at McNamara Financial?

Schedule a consultation today:

👉 https://mcnamarafinancial.com/contact

⸻

McNamara Financial is a family-owned, independent, fee-only financial planning and investment management firm. For over 30 years, we’ve helped individuals and families on the South Shore and beyond navigate their financial futures with clarity, confidence, and care.

💼 Come see what it’s like to work with a fiduciary.

http://mcnamarafinancial.com

In this episode of *McNamara on Money*, Mike McNamara talks with listener Dave about a question many successful savers eventually face: How do you shift from building wealth to using it confidently in retirement?

Dave has accumulated more than $2 million in his 401(k), but approaching retirement brings a new set of decisions. Mike walks through how a portfolio might be repositioned from an emphasis on growth toward a more balanced approach designed to provide income, manage market risk, and keep pace with inflation.

Their conversation covers the role of stocks and bonds in retirement, the importance of keeping enough cash available to avoid selling investments during a market downturn, and how everyday spending needs should influence investment decisions. They also discuss when to claim Social Security, covering healthcare expenses before Medicare eligibility, and making sure estate plans are in order.

It’s a practical look at what happens after decades of disciplined saving, and how thoughtful planning can turn a substantial nest egg into a retirement built for both security and flexibility.

📅 Want to speak with the team at McNamara Financial?

Schedule a consultation today:

👉 https://mcnamarafinancial.com/contact

⸻

McNamara Financial is a family-owned, independent, fee-only financial planning and investment management firm. For over 30 years, we’ve helped individuals and families on the South Shore and beyond navigate their financial futures with clarity, confidence, and care.

💼 Come see what it’s like to work with a fiduciary.

http://mcnamarafinancial.com

In this episode of *McNamara on Money*, Alyssa McNamara Reed and Mike McNamara take a practical look at managing your finances in an uncertain economy. Mike discusses the growing national debt, government spending, and what those larger economic pressures could mean for individual investors and retirees.

The conversation then turns to the financial decisions people can actually control: living within their means, reducing unnecessary debt, maintaining adequate emergency savings, and preparing for periods of market volatility.

Alyssa and Mike also discuss Roth IRAs and Roth conversions, including when it may make sense to pay taxes today in exchange for tax-free income later and why age, income, tax brackets, and individual circumstances all matter.

It’s a straightforward conversation about separating the economic headlines you can’t control from the financial decisions you can, and building a plan designed to hold up through changing markets and uncertain times.

📅 Want to speak with the team at McNamara Financial?

Schedule a consultation today:

👉 https://mcnamarafinancial.com/contact

⸻

McNamara Financial is a family-owned, independent, fee-only financial planning and investment management firm. For over 30 years, we’ve helped individuals and families on the South Shore and beyond navigate their financial futures with clarity, confidence, and care.

💼 Come see what it’s like to work with a fiduciary.

http://mcnamarafinancial.com

What happens to your financial plan when life changes overnight?

In this episode, Mike McNamara introduces “Real People, Real Lives, Real Financial Situations,” a new segment featuring conversations with people navigating real-world financial decisions.

Mike sits down with Susie, a recent widow facing important questions about her financial future, investments, and whether it still makes sense to remain in her 140-year-old home. Together, they explore the financial and emotional considerations involved in downsizing, managing expenses, investing for the years ahead, and preserving independence.

The conversation also examines the risks of holding too much cash, the long-term effects of inflation, portfolio allocation, and whether long-term care insurance should be part of the plan.

It’s a practical look at one of retirement’s most difficult transitions: making sound financial decisions after the loss of a spouse while building a plan for the next chapter of life.

📅 Want to speak with the team at McNamara Financial?

Schedule a consultation today:

👉 https://mcnamarafinancial.com/contact

⸻

McNamara Financial is a family-owned, independent, fee-only financial planning and investment management firm. For over 30 years, we’ve helped individuals and families on the South Shore and beyond navigate their financial futures with clarity, confidence, and care.

💼 Come see what it’s like to work with a fiduciary.

http://mcnamarafinancial.com

Are Roth conversions really the tax-saving strategy they’re made out to be? Financial advisor Alyssa McNamara Reed breaks down the benefits, costs, and often-overlooked consequences of converting retirement assets to a Roth account.

Using a real-world retirement scenario, Alyssa explores tax-free growth, upfront tax bills, Medicare premiums, Social Security taxation, and the importance of understanding the break-even point. The bottom line: Roth conversions can be a powerful planning tool, but they’re not right for everyone. Before you convert, run the numbers and understand the long-term impact.

Alyssa McNamara Reed, CFP®is a financial planner with passion for the intersection of taxes and investing. Alyssa works with motivated savers, beneficiaries of estates, business owners, divorcees, and pre-retirees.

📅 Want to speak with the team at McNamara Financial?

Schedule a consultation today:

👉 https://mcnamarafinancial.com/contact

⸻

McNamara Financial is a family-owned, independent, fee-only financial planning and investment management firm. For over 30 years, we’ve helped individuals and families on the South Shore and beyond navigate their financial futures with clarity, confidence, and care.

💼 Come see what it’s like to work with a fiduciary.

http://mcnamarafinancial.com

Planning for a loved one with a disability involves more than saving money. It requires protecting their future without jeopardizing access to essential benefits. In this episode, Mike McNamara speaks with Joan McGrath, CEO of Plan of Massachusetts and Rhode Island, about the critical role of Special Needs Trusts, how they help preserve eligibility for programs like SSI and Medicaid, and the key differences between first-party and third-party trusts. They also discuss ABLE accounts, the responsibilities of professional trustees, and the unique value of social workers who provide ongoing advocacy and life care planning. Whether you’re a parent, caregiver, or financial professional, this conversation offers practical guidance for building long-term financial security while protecting the services that individuals with disabilities rely on.

Justin McNamara, CFP® is a Certified Financial Planner with passion for investment strategy and selection. He works with small businesses and owners, parents of college-bound kids, job changers, pre- and post-retirees.

📅 Want to speak with the team at McNamara Financial?

Schedule a consultation today:

👉 https://mcnamarafinancial.com/contact

⸻

McNamara Financial is a family-owned, independent, fee-only financial planning and investment management firm. For over 30 years, we’ve helped individuals and families on the South Shore and beyond navigate their financial futures with clarity, confidence, and care.

💼 Come see what it’s like to work with a fiduciary.

http://mcnamarafinancial.com

In this episode of McNamara on Money, host Mike McNamara introduces a new listener-focused series built around live, one-hour retirement consultations. He invites individuals and couples to volunteer for on-air sessions, offering a $200 incentive to participants willing to discuss their 401(k) plans, retirement goals, and financial concerns by Zoom, phone, or in studio.

The episode explains how these consultations will work and why real-life examples can help listeners better understand the challenges of retirement planning. McNamara walks through the kinds of questions participants can expect, including topics such as assets, emergency savings, investment risk, market downturns, withdrawal strategies, and portfolio rebalancing.

The result is both an invitation to take part in the series and a practical discussion of the decisions that shape long-term financial security.

Michael J. McNamara, Ph.D., CFP®, is the Founder of McNamara Financial and a Certified Financial Planner. He’s semi-retired, and works with legacy clients and select others.

📅 Want to speak with the team at McNamara Financial?

Schedule a consultation today:

👉 https://mcnamarafinancial.com/contact

⸻

McNamara Financial is a family-owned, independent, fee-only financial planning and investment management firm. For over 30 years, we’ve helped individuals and families on the South Shore and beyond navigate their financial futures with clarity, confidence, and care.

💼 Come see what it’s like to work with a fiduciary.

http://mcnamarafinancial.com