McNamaraOnMoney

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?

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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*, 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

In this episode, financial advisor Alyssa McNamara Reed breaks down the growing interest in Roth accounts and Roth conversions, explaining why they can be powerful retirement planning tools but are not right for everyone. She compares traditional IRAs, which offer upfront tax deductions, with Roth accounts, which provide tax-free growth and tax-free retirement distributions.

Reed explains why Roth conversions are getting renewed attention amid rising healthcare costs, concerns over federal debt, and uncertainty about future tax rates. She also cautions that conversions can create unintended consequences, including higher Medicare premiums and increased taxation of Social Security benefits.

The episode concludes with a practical warning: Roth conversions usually make the most financial sense when the taxes can be paid with outside cash rather than from the converted retirement funds themselves.

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

This week, join guest host Patrick Haraden from Lockton Companies in Boston for a discussion about Medicare.

This episode of McNamara On Money features a practical conversation with experts from Abacus Business Consulting about the often-confusing world of Medicare. The discussion breaks down the major parts of the program, including Part A, which covers hospital care, and Part B, which covers outpatient medical services.

The episode also explains the key differences between Medigap supplemental policies and Medicare Advantage plans, noting that Medicare Advantage often functions as a managed-care alternative to traditional Medicare. The guests offer important guidance for people who continue working past age 65, including how Medicare enrollment affects Health Savings Accounts and how to avoid costly late-enrollment penalties.

Throughout the discussion, the experts emphasize that Medicare is not a one-size-fits-all decision. Choosing the right approach depends on each person’s doctors, prescriptions, travel habits, health needs, and financial situation.

📅 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, Mike McNamara delivers a blunt assessment of America’s growing financial instability, comparing the federal government’s spending habits to a household headed toward bankruptcy. He explains how persistent deficits, trillions in new borrowing, and interest payments on a national debt approaching $39 trillion are creating an unsustainable cycle.

McNamara warns that rising interest rates and inflation could eventually force difficult tradeoffs, with debt obligations threatening to crowd out essential programs such as Medicare and Social Security. He also expresses skepticism that political reform efforts, including the Department of Government Efficiency, have made any meaningful dent in the problem.

Against that backdrop, McNamara urges listeners to focus on what they can control: living within their means, reducing dependence on debt, building emergency reserves, and working toward personal financial independence. The episode closes with a sober warning that if elected leaders refuse to confront the debt crisis, the bond market may eventually impose its own painful correction.

📅 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, financial advisor Alyssa McNamara Reed speaks with reverse mortgage specialist David Tourtillott about the modern role of federally regulated Home Equity Conversion Mortgages.

David Tourtillott explains how today’s reverse mortgages differ from the poorly regulated and often misunderstood products of the past. Insured by the FHA, these loans include safeguards designed to protect homeowners and their heirs. For seniors age 62 and older, a reverse mortgage can provide access to home equity without monthly mortgage payments, creating tax-free cash flow or a growing line of credit for future needs such as long-term care.

The conversation also addresses common misconceptions, including concerns about ownership, inheritance, and repayment. Tourtillott, explains that reverse mortgages are non-recourse loans, meaning heirs are not responsible for debt beyond the value of the home.

Ultimately, the episode presents the reverse mortgage as a strategic retirement planning tool, one that may help retirees preserve investment assets, manage cash flow, and create greater financial flexibility in later life.

Alyssa McNamara Reed, CFP® is a financial planner with a 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