McNamaraOnMoney

This episode features financial advisor Justin McNamara and insurance professional Guy Ziriak discussing two often-overlooked forms of protection: disability insurance and long-term care insurance.

They begin with disability insurance, explaining why it is best understood as income protection. The conversation covers the difference between short-term employer benefits and long-term individual policies, including how properly structured coverage can provide tax-free income during an extended illness or injury. Justin and Guy also discuss important policy features such as own-occupation protection and cost-of-living adjustments, which can help preserve income as careers and expenses change over time.

The discussion then turns to long-term care insurance and the financial risk created when a person needs help with basic activities of daily living, whether at home, in assisted living, or in a nursing facility. They explain why Medicare usually does not cover these extended care needs, why older traditional policies became difficult to price, and why hybrid products combining long-term care benefits with life insurance have become more common.

Together, the conversation offers a practical look at how these insurance tools can help protect income, preserve savings, and reduce the financial strain that can come with serious illness, injury, or chronic care needs.

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

This episode of McNamara on Money explores how vocational education is creating alternative pathways to stable, high earning careers as traditional college costs continue to rise. Host Alyssa McNamara Reed speaks with representatives from Southshore Technical School about the growing demand for skilled trades and the school’s hands-on approach to career preparation.

Guests Bob Melo and Amy Dao discuss the school’s distinctive week-on, week-off model, which combines academic study with immersive technical training across multiple career fields. The conversation also highlights the school’s major $283 million campus expansion, driven by increasing enrollment demand and regional workforce needs.

The episode further examines Southshore’s cooperative education program, which places students in real-world apprenticeships, as well as the Career Technical Initiative, a state-funded program offering free vocational training opportunities for adults pursuing new career paths.

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

In this episode, financial advisor Alyssa McNamara Reed sits down with wedding planner Ashley Fiddler to discuss the realities of planning modern weddings and managing the often substantial costs that come with them. From event management and partial planning to full-service coordination, Ashley explains how professional planners help couples navigate timelines, vendor relationships, and high-pressure decisions.

The conversation also explores changing wedding trends, including the rise of full wedding weekends with welcome parties, after-parties, and destination-style experiences. Ashley shares practical insight into current venue demand, budgeting expectations, and why early planning has become more important than ever.

Whether you’re planning an intimate gathering or a large-scale celebration, this episode offers practical guidance for couples and families trying to balance meaningful experiences with smart financial decisions.

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

In this episode, host Justin McNamara sits down with Social Security expert Kurt Zarnowski, a former SSA insider, to break down how the system actually works. From earning the required credits over a ten-year minimum to understanding how your highest 35 years of income shape your benefit, they clarify the mechanics that determine what you receive in retirement.

The conversation also examines timing. What does full retirement age really mean? How much do you lose by claiming at 62, and how much more can you gain by waiting until 70? McNamara and Zarnowski walk through the tradeoffs in clear terms, grounded in real financial impact.

They also cover spousal and survivor benefits, including key updates under the Social Security Fairness Act of 2023 that affect those with public pensions.

This episode is a practical guide to making more deliberate, informed decisions about your long term retirement income.

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, financial advisor Mike McNamara reduces long-term stability to two non-negotiable rules.

First, live within your means. Spend less than you earn, and treat retirement and education savings as fixed monthly obligations, not optional leftovers. McNamara argues that consistency and discipline matter more than investment skill, especially in a landscape where many rely too heavily on Social Security.

Second, build a real emergency reserve. Keep three to six months of expenses in a separate, liquid account. This buffer protects you from turning to high-interest debt or pulling from long-term savings when something goes wrong.

The takeaway is direct: financial security is not complicated. It comes from clear priorities, steady habits, and personal responsibility over time.

Michael J. McNamara, Ph.D., CFP®, is the founder of McNamara Financial. A seasoned financial planner with over 40 years of experience, Mike is now semi-retired and works exclusively with long-time clients and a select few new ones.

📅 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 radio interview, financial expert Alyssa McNamara Reed and certified specialist David ourtillott discuss the mechanics and benefits of federally regulated reverse mortgages. They clarify that modern Home Equity Conversion Mortgages (HECM) are transparent, government-insured tools designed to help seniors aged 62 and older access their home's wealth without monthly payments. Tourtillott explains how a reverse line of credit can grow over time, serving as a strategic resource for long-term care or supplemental retirement income. The conversation addresses common fears regarding heir inheritance and vanishing equity, emphasizing that these loans are non-recourse, meaning the debt never exceeds the home's value. Ultimately, the sources frame the reverse mortgage as an underutilized financial instrument that provides retirees with increased liquidity and security while allowing them to remain in their homes.

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 interview features Julie Shields-Rutyna from the Massachusetts Education Finance Authority (MEFA), who discusses the complexities of college financial aid and decision-making. The conversation focuses on the significance of National College Acceptance Day on May 1st and the necessity of comparing award letters using tools like cost calculators. Shields-Rutyna explains the distinctions between grants, scholarships, and federal loans, while also noting new caps on parent PLUS loans. Additionally, she highlights the flexibility of 529 savings plans, which can now be used for vocational training or rolled into Roth IRAs. The source serves as a practical guide for families navigating the final stages of the higher education planning process.

📅 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

Financial advisor Mike McNamara provides a detailed analysis of major life expenses, specifically focusing on the high costs of college education and automobile ownership. He argues that the primary purpose of higher education should be career preparation, urging parents to set strict budgetary limits and consider higher-earning majors or trade schools to protect their retirement. McNamara highlights the financial strain of college by discussing the impact of inflation and the various methods for funding tuition, such as saving, borrowing, or using cash flow. Shifting to transportation, he introduces the concept of "Too Much Car" (TMC), noting that many Americans overspend on depreciating assets at the expense of their long-term savings. He provides a mathematical breakdown of new car prices, insurance, and maintenance, comparing the financial outcomes of buying versus leasing. Mike emphasizes that living within one’s means and prioritizing appreciating investments are essential for achieving a secure and successful retirement.

Michael J. McNamara, Ph.D., CFP®, is the founder of McNamara Financial. A seasoned financial planner with over 40 years of experience, Mike is now semi-retired and works exclusively with long-time clients and a select few new ones.

📅 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, Alyssa McNamara Reed interviews Stacy Havens, an independent college counselor from Student Pathways, to discuss the complexities of higher education planning. They emphasize that the application timeline has shifted earlier, suggesting that students begin exploring interests as soon as freshman or sophomore year to reduce senior-year pressure. The conversation covers the financial realities of college, including how institutional "yield rates," FAFSA requirements, and merit-based aid influence the final cost. Havens argues that finding a "right fit" involves balancing academic rigor with social comfort rather than focusing solely on prestige. Finally, they touch on evolving career trends, noting a renewed value in the trades and humanities alongside high-demand fields like healthcare and technology.

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

In this episode, Justin McNamara interviews an interview with Niki Conte from the Massachusetts Health Connector, who explains the state’s insurance marketplace and upcoming enrollment deadlines. The discussion clarifies that open enrollment typically ends in late January, providing a critical window for individuals without employer-sponsored coverage to secure health plans. Ki describes how subsidies and tax credits can lower monthly premiums, specifically highlighting the ConnectorCare program for residents within certain income brackets. Listeners are encouraged to use online estimation tools to compare private carriers and find plans that meet state requirements. Additionally, the conversation emphasizes the availability of free professional assistance, such as navigators, to help consumers manage the application process. Managed by Justin McNamara, the segment also touches on the financial implications of healthcare for early retirees and those in career transitions.

📅 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