The Wall Street Sweeper with Russell Hackmann

In his weekly market update, Russ warns of lurking issues including the Fed fight against inflation and the possibility of taxes going up down the road.  He continues to stress the importance of factoring market risk, outliving your money, inflation, investments, taxes, and long-term care into your retirement planning.  Russ also shares a couple of cast studies.  One was about a couple he helped into retirement when their date for it came sooner than expected.  Another was on a couple who brought to the meeting some strategies that looked like red flags such as a lot of mutual funds, bond funds, and international funds.

You can reach Russ Hackmann by calling 617-674-2000.

Hackmann Wealth Partners

See omnystudio.com/listener for privacy information.

Russ dives into the banking sector situation in his opening market update in explaining possible impacts and how it is complicating the Fed’s fight against inflation.  He shares how he worked with a couple who had received what he calls “the kitchen sink” experience from their big box firm.  He also explains how he addresses the big 6 retirement risks.

You can reach Russ Hackmann by calling 617-674-2000.

Hackmann Wealth Partners

See omnystudio.com/listener for privacy information.

Russ talks about the crisis sweeping the banking sector and what it means to you and the market.  As always, he covers how to immunize your portfolio against volatility, factor in pro-active tax strategies, and identify and cut fees.  Russ shares two client stories including one couple he helped paying an exorbitant amount in fees each year. 

You can reach Russ Hackmann by calling 617-674-2000.

Hackmann Wealth Partners

See omnystudio.com/listener for privacy information.

Russ notes that life insurance is not peoples’ favorite topic to discuss but he points out how life insurance has changed and now offers many living benefits.  In the podcast, he also offers his weekly update on the markets in touching on more market disruption, the potential for more aggressive interest rate hikes and even possible recession.  As always Russ stresses the importance of protecting yourself from a financial Cat 5 storm.  Russ also shares case studies.  One of which involved a couple who scheduled a second opinion consultation with Russ offering solutions with the potential of providing a $30,000 a year cash flow improvement.  Another client story featured a couple who sought Russ’ help in implementing a tax reduction plan that provided more in their legacy fund.

You can reach Russ Hackmann by calling 617-6745-2000.

Hackmann Wealth Partners

See omnystudio.com/listener for privacy information.

Russ talks about good sound retirement advice you can share with your kids in their 20s and 30s.  He talks about serious consideration being given to Roth accounts and lessons on 401(k) allocations.  As always, Russ shares client stories which include their dreams and challenges they bring to him and how he rolls up his sleeves with them to find solutions.  One couple had been losing money and were extremely worried about what Russ calls the Cat 5 storm that could come along in the economy.  He shared how talked to them about getting out of their bond strategies and moving to safe money earnings and broadening to dividend paying stocks.  Another couple had plans to retire in two years, but they had lost 15 to 20 percent on every single position they had.  Russ talked about his solution of building paycheck replacements into their plan.

You can reach Russ Hackmann by calling 617-674-2000.

Hackmann Wealth Partners

See omnystudio.com/listener for privacy information.

Russ opens with his take on JP Morgan Chase CEO Jamie Dimon’s comments on the market.  He discusses mistakes that even the wealthiest investors make.  They include not focusing on tax planning and not having a real plan.  In sharing stories of clients and their challenges, Russ shared how he helped a couple repair their portfolio for safety and long-term growth and how he helped a couple reach their target retirement date which was two years away.  Russ wrapped up the podcast looking at tax opportunities in 2023.

You can reach Russ Hackmann by calling 617-299-7676.

Hackmann Wealth Partners

See omnystudio.com/listener for privacy information.

Russ looks at market performance so far for 2023 and looks ahead to the rest of the year.  He also points out some benefits of a Roth IRA that you may not be aware of and some new opportunities, some of which were brought forth by Secure Act 2.0.  In sharing case studies, Russ spoke of helping develop a more three-dimensional planning structure for a client who he said had too much in stocks and was only two years aware from retirement.  In another case study, he shared the challenges faced by a couple who had lost a lot of money in low performaning bonds and high-risk stocks.  He demonstrates how he helped them in structuring a plan with less exposure to downside shock and a much better upside.

You can reach Russ Hackmann by calling 617-299-7676.

Hackmann Wealth Partners

See omnystudio.com/listener for privacy information.

Russ notes the current atmosphere on Wall Street is generally positive but stresses the need for caution.  He runs down five new savings and tax rules that can help boost retirement savings including adjustments to federal income tax brackets, standard deductions going up, higher contribution limits, and RMD age being raised.  As he does every week, Russ shares stories of clients who have presented him with their challenges and retirement dreams and how he worked with them to help them meet both.  One case study involved Russ helping a couple eliminate over ten thousand a year in frees and the other was a case of helping a couple safely boost the returns in their portfolio.

You can reach Russ Hackmann by calling 617-299-7676.

Hackmann Wealth Partners

See omnystudio.com/listener for privacy information.

Russ opens with a look at this week on Wall Street and how to navigate the markets in building that strong retirement house.  He discusses the impact of taxes on retirement and steps to counteract that impact.  He explains how withdrawals from retirement accounts and pensions can be taxed.  As always, Russ shares information on how he helps clients in building the retirement plans to match their dreams and to accommodate the lifestyle they want. 

You can reach Russ Hackmann by calling 617-299-7676.

Hackmann Wealth Partners

See omnystudio.com/listener for privacy information.