Smart Money Questions

Recently, we’ve been getting some unique questions about investing in company-sponsored plans, like a 401k, for example. The client wanted to know where else to invest once they max out the 401k. We’ll dive into this question and more on today’s show.   What we discuss in this episode:  2:23 – Max out 401k 4:53 – Be consistent 5:44 - Match 8:04 – Vested 9:49 – Saving more 11:38 – Health insurance 14:34 – Traditional brokerage   Visit us online: http://smartmoneyquestions.com 

If you decide to scale back your work or keep working during retirement, what kind of employee should you be? We’ll explain the differences between W2 and 1099 workers and how that could affect your finances.   Key Topics on This Episode:  4:50 – Scaling back workload 6:24 – W2 vs. 1099 worker 9:39 – Contributions 11:38 – Payroll taxes 13:48 – Buying real estate 16:18 – Property management 17:22 – Where to buy 18:50 – Long-term investment   Want to learn more about financial planning? Visit us online ---> http://smartmoneyquestions.com  

Today we’re sharing questions and scenarios we’re hearing in our office, on the phone and on zoom calls with clients. We’ll also share some planning we did for a client four or five years ago and where they are today in retirement.   Key topics on this show: 4:43 – Aggressive 401ks 7:59 – Other options 11:00 – Know where your money is 13:51 – Risk 15:29 – Rate of return 16:27 – COLA   Want to learn more about financial planning? Visit us online ---> http://smartmoneyquestions.com  

It’s hard to believe, we’re already halfway through 2022. Before you know it, it’s going to be Thanksgiving and then the end of the year. Now is a good time to be considering your finances and planning for your taxes.   Key topics on this episode:  2:42 – Roth conversions 6:13 – Personal changes 8:19 – Review investments 10:11 – Tax diversified 11:09 – Review debt 12:59 – Budget 14:02 – Emergency funds 14:32 – Legal documents   Get additional resources online: http://smartmoneyquestions.com 

The markets have been heading down, but this is one of the most critical times for investors to stay disciplined. Markets will go up and they will drop, and we’ll explain why you have to be prepared to stay the course and find opportunities.   Read more and get additional financial resources here: http://smartmoneyquestions.com    What we discuss in this episode: 3:35 -  Don’t panic 4:14 – Tax-loss harvesting 5:51 – Tax buckets 8:46 – Roth 12:00 – Your investment mix

Is your 401k invested using target-date funds? If so, you could be getting hit harder during these tough economic times. We’ll explain why. We’re also talking cars in this episode and our thoughts on leasing versus buying a new or used car.   Read more and get additional financial resources here: http://smartmoneyquestions.com    What we discuss in this episode:  3:20 – Wall Street Journal 9:38 – Investment options 12:14 – Leasing vs. buying cars 13:32 – Coming to the end of a lease 16:32 – Buying a car

A recent study found that the average American needs to save $1.04 million for a comfortable retirement. That’s one of the many fascinating statistics shared in the study. Join us as we share more of the findings and talk about how most retirees stack up.   See the statistics: https://www.annuity.org/retirement/retirement-statistics/    Read more and get additional resources here: http://smartmoneyquestions.com    Listen for these key topics:  2:37 – Savings expectations 7:15 – Delaying retirement 9:41 – Increasing savings 10:16 – Social Security 14:07 – Health care 15:26 – Where will you live?

Should you take out a 401k loan to pay off your debt? And does it matter what the kind of debt is? Today we’re going to tackle this common question and more to help you figure out your finances.    Read more and get additional financial resources here: http://smartmoneyquestions.com    Listen for these key points:  2:20 – 401k loans 5:16 – Exhaust other options 10:05 – Selling property

If you’re getting close to retirement, you may be envisioning what that next chapter will look like. A question that always comes up is how much money will you need to make? Some people feel like they should be bringing in more money during retirement, but is that smart? Let’s dive into that discussion on today's episode.   What we discuss on this episode: 2:27 – Bucket list years 5:40 – Where’s the money? 6:57 – After bucket list years 8:39 – Go through the process 9:15 – Medicare   Read more and get additional financial resources here: http://smartmoneyquestions.com   

Today we’re answering a few of your questions about financial planning. Should a dentist sell his building and his business? What should you do with life insurance money? We’ll discuss these topics on the show.      Read more and get additional financial resources here: http://smartmoneyquestions.com    What we discuss in this episode:  3:24 – Renting building 6:29 – Investing cash 9:43 – Life insurance 12:53 – Moving forward

We came across an article about murky areas people don’t have clarity on when it comes to retirement planning. We’ll explain what those are and how to make sure you understand your retirement plan.   Read more and get additional financial resources here: http://smartmoneyquestions.com    What we discuss in this episode:  3:02 – USA Today article 4:13 – Inflation 6:55 – Social Security 9:00 – Withdrawal rate 13:21 – $1 million 14:43 – More murky areas 16:56 – Long-term care 19:48 – 401k investment options

We had a great conversation with the daughter-in-law of one of our clients. She and her husband recently had a child and she wanted to think about additional planning as far as investments. Here’s how we helped her prioritize her finances.   Read more and get additional financial resources here: http://smartmoneyquestions.com    What we discuss on this episode:  4:06 – Babies and finances 5:57 – Take advantage of benefits 8:23 – Disability insurance 10:42 – Budget for retirement investment 13:26 – Good debt and bad debt

On today’s episode, we’re answering questions we’ve gotten from clients, podcast listeners and others about all things finance. Find out how to prepare financially for an impending divorce and more.   Read more and get additional financial resources here: http://smartmoneyquestions.com    What we discuss in this episode:  4:21 – Preparing for divorce 7:27 – How divorce will affect retirement 8:17 – Do nothing 10:10 – Be your own advocate 11:07 – Company stock 12:34 – Picking stocks

On today’s episode, we’re taking your financial questions. Find out how to help an elderly parent with their housing, whether you can retire early and more.   Read more and get additional financial resources here: http://smartmoneyquestions.com    What we discuss in this episode:  3:31 – Mom’s house 7:48 – Retire early 10:07 – Health insurance 14:16 – Starting a business

Are you ready for the 2022 tax season? We’ll explain why breaking even in your taxes is so important and how behavioral finance plays a role in most people’s lives.   Read more and get additional financial resources here: http://smartmoneyquestions.com/   What we discuss in this episode:  0:07 – Tax filing date 2:38 – Break even on taxes 4:02 – Tax brackets 6:23 – Behavioral finance 10:26 – FOMO 12:15 – Irrationality 14:15 – 2022

Has your identity ever been stolen? If so, you know how much of a struggle it can be to take care of it and make things right again. Today we’re sharing some stories of our clients who have been through this difficult ordeal.      Read more and get additional financial resources here: http://smartmoneyquestions.com/podcastposts/episode-162-how-to-avoid-new-identity-theft-tactics/    What we discuss in this episode: 1:04 – Marijuana tax 2:12 – Bill Gates quote 3:46 – ID theft 6:11 – Client’s troubles 8:09 – Unemployment benefits 9:12 – ID monitoring 10:12 – Be cautious 11:33 – Use online banking

The new year means getting on track and trying to set new goals for what we want to accomplish. Money is always at the top of the list so we wanted to help you with your financial growth in 2022. So on this episode, we’re sharing 15 money resolutions that will get you on a better financial track in the new year.  You might not be able to follow through on all 15 of these resolutions, but implement even just a few of these and you’ll be well on your way to a more prosperous financial life in the coming year.   Read more and get additional financial resources here: http://smartmoneyquestions.com/podcastposts/episode-161-15-money-resolutions-for-2022/    What we discuss in this episode:  4:08 – Reduce debt 5:22 – Boost savings 6:41 – Plan for emergencies 7:05 – Don’t overreact 7:49 – Budget 8:54  – Check beneficiary designations 9:32 – Tough conversations 10:34 – Audit insurance 11:15 – Refinance 11:48 – Check credit 12:54 – Share knowledge 13:56 – Review tax brackets 15:09 – Rebalance portfol

Today we’re talking about generous giving and fearing loss. Find out how our office and clients give back to the community. We’ll also share what to do if you’re afraid of financial losses in your retirement.   Read more and get additional financial resources here: http://smartmoneyquestions.com/podcastposts/episode-160-piggy-bank-pies-and-abundance-mentality/    What we discuss in this episode:  0:57 – Piggy bank pies 3:14 – Abundance mentality 5:42 – How do you handle loss? 6:38 – Talking numbers 7:40 – Recovering from loss 8:11 – Understand your risk 9:30 – Prepare yourself

Have you ever taken your investment portfolio down to the studs? It might be time to examine the risks of your investments and see what questions you need to get answered.   Read more and get additional financial resources here: http://smartmoneyquestions.com/podcastposts/episode-159-taking-a-deal-down-to-the-studs/    What we discuss in this episode:  1:19 – Down to the studs 5:33 – Removing risk 8:27 – What can I expect? 10:33 – When will you retire? 13:15 – Money in retirement

The mandate over vaccines is creating an issue where some people have serious decisions to make. Here are some things you need to consider before walking out and leaving your job over the mandate.    Read more and get additional financial resources here: https://smartmoneyquestions.com/podcastposts/episode-158-mandates-and-forced-retirement-what-questions-to-ask/   What we discuss in this episode: 4:35 – Health insurance 8:43 - Expenses