Money Wisdom

Most of the content we focus on for the podcast is stuff that can benefit people anytime they listen, but this week we want to focus more on the present and the pressing financial topics that everyone is thinking about. To help you better understand what is worth paying attention over the next four to six months, Nicholas Colantuono, CFP® joined the Money Wisdom podcast to discuss current economic trends.

Here’s some of what we discuss in this episode:

• The stock market continues to be volatile but will things change as we get to the election and past it.
• The conversations we’re having with clients about interest rates and what to expect.
• The world we live in has gotten more and more expensive and it has led to personal debt soaring.
• What is happening in the job market?

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One of the benefits of working with an experienced financial advisor is being able to lean on their years of working with retirees to help you avoid the same mistakes that many other people have made. We shared five of the most common planning missteps on our latest episode of Money Wisdom with Nicholas J. Colantuono, CFP®.

Here’s some of what we discuss in this episode:

• Why you can’t ignore the future tax implications of your retirement savings.
• What considerations you need to make before you decide when to take Social Security.
• Don’t focus on returns rather than income during retirement.
• Why you shouldn’t be taking financial advice from your friends and family.
• People will swing way too far one way or the other when it comes to risk.

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Hopefully all business owners enjoy the day when they can cash out on their hard work and spend time however they choose. If you’re fortunate enough to be in the position to sell your business for a nice lump sum, let’s make sure that money turns into sustainable income for your retirement. In the latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® answers a question we received from a business owner who wants to know the best way to do that.

Here’s some of what we discuss in this episode:

• The challenges facing business owners (or anyone) when they receive a big pile of money.
• Investment strategies should focus on three primary characteristics.
• What you need to consider before you build an investment strategy.
• How to be as tax-efficient as possible with your planning.

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Most people are focused on their family when it comes to planning, and there are some primary issues that need to be addressed ahead of time. In the latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® joins the show to tackle critical issues head-on. This episode offers a wealth of knowledge on managing finances in challenging times and ensuring a secure financial future for your loved ones.

Here’s some of what we discuss in this episode:

• The financial problems people face when they lose their spouse.
• How planning today can help solve the income gap problem you might face in the future.
• Many people overlook taxes when planning for kids and grandkids.

Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/

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It might seem a bit counterintuitive to hear reasons why you shouldn’t be putting money into your 401k, but there are times when it makes more sense to allocate that money elsewhere. In our latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® will explore scenarios where a 401K might not be the optimal choice.

Here’s some of what we discuss in this episode:

• Build up your emergency fund before you focus on locking money away in a retirement account.
• How are you addressing each potential financial pitfall and doing it in a healthy, holistic way?
• If your employer doesn’t match your 401k, you might have better investment options outside of it.
• Future tax rates might make you rethink tax-deferred contributions.
• Why you might not want to leave money in a 401k when you change employers.

Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/

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We’ve seen some turbulence in the market recently and that’s a time when fear begins to drive some investor decisions. It’s natural to let emotions creep in, but proper planning should help you maintain the right perspective on your investments. Even with the right planning, we’ll still hear from some clients who have questions or concerns. In our latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® joined the show to share some of the responses we get from clients during volatile times and discuss our approach to navigating the ups and downs.

Here’s some of what we discuss in this episode:

• The responses we typically get from clients when the market is up and down.
• When we might make changes to your investments in times of volatility.
• Our role when someone feels like they can’t handle a bad week or bad month.
• Should you pull back on 401k contributions when the market is down?
• Is there ever a time to panic?

Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/

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When you think about the bad habits that could negatively impact your finances, things like credit card debt and overspending your budget come to mind. Those are obvious ones, but we want to shine a spotlight on some of the most common financial bad habits that many people unknowingly practice. These habits, while seemingly minor, can have a significant impact on your financial health and future.

Nick Colantuono, CFP® joins the Money Wisdom podcast this week to discuss these habits that we want to help you avoid. Check out the show to learn how to identify and break these habits to ensure a more secure financial future.

Here’s some of what we discuss in this episode:

• What you need to know about your account statements and why they can be valuable.
• Emotional decisions will often weigh you down and lead you in the wrong direction.
• It’s easy to fall back on procrastination when you don’t want to address an area of your finances.
• Long-term planning gets pushed back because it doesn’t seem necessary today, but it’s essential for protecting everything you’ve worked for.

Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/

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It’s a gold medal edition of the podcast this week as we take a unique approach to financial planning by drawing parallels with the Summer Olympics. Nick Colantuono, CFP® joins the show to share insights that can help you navigate your financial journey with the precision and skill of an Olympic athlete.

Here’s some of what we discuss in this episode:

• Why a plan has to be built to last for decades rather than years and how you can account for inflation.
• Planning for financial emergencies.
• Ways to identify the hidden fees in your portfolio.
• The foundational elements to building a successful plan.

Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/

Contact our team: https://johnsonbrunetti.com/contact-us/ 

We’ve all had an idea that we acted on without giving it much thought. That’s fine when you’re choosing dinner or picking out new socks, but it’s not the best approach to managing your finances.

In the latest episode of the Money Wisdom podcast, Matt Pastor, RICP® tackles the topic of "half-baked" financial ideas. These are the types of decisions that might seem clever at first glance but can have significant negative consequences if not thoroughly thought through.

Here’s some of what we discuss in this episode:

• Why signing your house over to your kid(s) while you’re still alive might not be the best plan.
• Starting your Social Security as early as possible while you’re still working could cause you to lose some of your benefits.
• Converting all of your IRA money into a Roth at the same time.
• Why you might not want to cancel your life insurance once you’re retired.
• Investing your emergency fund money to get a better return.

Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/

Contact our team: https://johnsonbrunetti.com/contact-us/ 

Inherited IRAs can be a financial lifeline, but they come with their own set of complexities, especially with the rule changes introduced in 2020. If you've recently inherited an IRA or are planning for the future, understanding these changes and how to manage your inheritance effectively is crucial. In our latest episode of Money Wisdom, we sat down with Heath Grossman, CFP® to break down the ins and outs of inherited IRAs and offer strategies to minimize your tax burden.

Here’s some of what we discuss in this episode:

• An explanation of an inherited IRA and how it’s different than a regular IRA.
• What changed with the rules around an inherited IRA in early 2020?
• What it means for Required Minimum Distributions.
• When would it be logical to withdraw the entire inherited IRA in year one?
• When would it make sense to wait as long as possible to take the money out?

Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/

Contact our team: https://johnsonbrunetti.com/contact-us/