As we look ahead into 2024, I share some recently announced IRS tax law changes – tax brackets, standard deduction, health savings increases, retirement savings increases, and income phase out regions to qualify for Roth IRAs contributions. Whether you're an individual taxpayer, a small business owner, or just trying to make sense of the tax world, these changes will likely affect you. 

As the holiday season brings families together, it creates a prime opportunity to have meaningful discussions about future plans and financial well-being. While talking finances during the holiday season may seem overwhelming, these crucial conversations pave the way for having everyone’s complete understanding. In this episode, I guide you through this important conversation, offering structured talking points to ensure that your family talk is not only productive but also fosters a sense of clarity and mutual understanding amongst all.  

With nearly two decades of advising families on navigating finances with children, I find myself standing on the cusp of fatherhood. This episode is a high-level overview of preparing financially for the life-changing adventure of parenthood.

Join me in this insightful episode into the world of emotions in finance. If my last episode enlightened you on money perceptions, know that it's our emotions that truly power our decisions. I’ll speak on how these feelings shape our approach to finances and provide some practical ideas to help you manage emotional investing.

In this episode, I delve into the psyche behind our financial decisions. Why do we sometimes prioritize the now over our future? I explore the psychology of money, the tug-of-war between instant gratification and long-term gains, social pressures, cognitive biases, and the tendency to overestimate our financial acumen. I wrap up with actionable insights so you can make better financial choices.

Every day lived is a day closer to the inevitable. It’s a part of life and as we age, we want to make sure we make a difference in the lives of others as well as leaving something to be remembered by. In this episode, I talk about how you can leave a legacy, from the financial perspective of money and valuables, to living a more meaningful life with greater remembrance with your legacy beyond the assets. 

The Setting Every Community Up for Retirement Enhancement Act 2.0, commonly referred to as SECURE ACT 2.0, was signed into law on December 29, 2022. Intended to revise existing rules around retirement saving, this modification to the original SECURE ACT signed in 2019 could help strengthen the retirement system — and your financial readiness for retirement. This episode highlights a few key provisions and our perspective from the act.

Hey, college grads! Congrats on earning your degree and establishing the foundation to help build your career. What’s next? Whether you have already landed a job and may be trekking across the country for a new life or your degree will secure a promotion or pay raise, here’s my take on getting you to start building your financial future. 

Interest rates are set to rise. There are still talks we’re in a pandemic. Russia and Ukraine are in conflict. How do all these things affect your finances and should you change your investment allocations and your long-term financial plans? In this episode, I address how panic-driven investment decisions can be costly to your long-term financial wellness and how to keep things in perspective.

Joining me in the episode is Libby Banks with The Law Office of Libby Banks. A noted attorney, Libby focuses exclusively on estate planning, probate, and trust administration. We go over the basics of estate planning: what it is, the importance of having a durable and medical power of attorney, why one should create a will, the process and costs of probate, beneficiary designations on investment accounts and life insurance policies, when having a trust may be appropriate, guardianship and conservatorship for children, and triggers and life events as to when to update your estate plan.