Money Wisdom

Part of managing your finances and making the best decisions for retirement is understanding how to best utilize the assets you have in your possession. One of the largest accounts most people have is their 401k and it’s impossible to ignore if you need to make larger purchases. But is it a bad idea to take out a 401k loan? Here’s some of what we discuss in this episode: Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/

We’re with Matt Pastor, a financial advisor on our team, to talk about life insurance and the need for it in retirement. Once you’ve earned enough to take care of your family and the kids are through college, do you still need to carry that policy? This is a great question and the answer will vary from person to person depending on your needs. Here’s some of what we discuss in this episode: Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/

Those final years leading up to retirement can be an incredibly exciting time but they can also stir up a little nervous energy. Have you done everything you need to? What should you be thinking about right now? In our latest podcast, we talked with Eric Hogarth, CFP® about the five years before retirement and what you need to do during that time. Here’s some of what we discuss in this episode: Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/

A question that many investors ask is whether they should be investing in ETFs or mutual funds. It’s a legitimate question because a lot of people don’t truly understand the difference between the two. In our latest podcast, we want to address the technical part of this question but do so with a less technical conversation. Here’s some of what we discuss in this episode: Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/

The concept of financial legacy means different things to different people. Some people might hear that and think about their will or estate documents, but that’s not what we’re talking about here. This conversation will be a little bigger picture and a bit more philosophical. Here’s some of what we discuss in this episode: Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/

Today we’re going to talk about how to handle the taxation on stock that isn’t in an IRA and gets inherited. For example, let’s say someone bought 100 shares of Apple stock in 1987 and they leave it to their kids when they pass away. How are you taxed on this stock? To help us answer the question, we’ve brought on Jake Doser, a financial advisor at Johnson Brunetti. Here’s some of what we discuss in this episode: Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/

Today we’re going to answer one of the two or three biggest questions that people tend to have about their retirement plan. As you look ahead to retirement and the largest expenses you might incur, long-term care will always be a part of that discussion. So does everyone need long-term care insurance? This can be a broad conversation but it addresses one of the top concerns for retirees. For people that have planned properly and feel good about the income they have coming in for retirement, they want to identify areas where problems could arise and health issues and long-term care or assisted living is one of those areas that need attention. We brought Heath Grossman, CFP® onto the podcast to help you understand the different aspects of this conversation that ultimately guide you to an answer to this important question. Here’s some of what we discuss in this episode: Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/

The question we hope to answer today is does everyone need a trust? It seems that many people confuse the purpose of a will and a trust, but they aren’t the same thing and we’ll clarify that. Plus we’ll tell you who needs a trust and what the primary purpose of using this instead of a will. Here’s some of what we discuss in this episode: Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/

When the market gets choppy and investors start to feel uneasy, it’s not uncommon to get questions about whether it’s a good time to buy gold or silver. Over time, there are different reasons that people would give for wanting to invest in precious metals, but should you be buying gold? Eric Hogarth, CFP® joins the show to help us answer that question. Here’s what you can expect to learn in this episode: What’s the first thing Eric usually thinks when someone asks about gold? Why does the interest in gold usually come in waves? Why Eric prefers a securitized version rather than physical gold. How can you build an investment portfolio that reduces that volatility? Are annuities another good alternative to gold for a safer investment? Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/

The topic of Social Security comes up all the time in our office, especially when it comes to its future. Is it heading towards bankruptcy as some suggest, or is this an alarmist notion blown out of proportion? To answer these questions and more, Certified Financial Planner® Heath Grossman joined the podcast to offer his perspective on the much-debated future of Social Security. Here’s what you can expect to learn in this episode: Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/

The world of Social Security benefits can be complex, particularly when it comes to understanding the taxation associated with these benefits. In this episode, we’re going to tell you how we’d get to the answer and give you a better idea of how much taxation will impact your benefits in retirement. Here’s what you can expect to learn in this episode: How do you go about finding this number? The different tax thresholds and what that means to your benefits. Why you should take advantage of those windows in time where you’re paying little in taxes. Why Roth conversions could benefit you a lot when it comes to the taxes you’ll have to pay on your Social Security. Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/

We want to be as efficient as possible with our retirement accounts to give us the best chance to grow our money and provide the income we need for retirement. That’s why many people ask about rollovers and whether it makes sense to do that with their 401k. Let’s talk about who might and might not benefit from a rollover and the options you have for your old 401k accounts. Here’s what you can expect to learn in this episode: The different qualifying events that usually make people consider the rollover. Why would you want to do a rollover in the first place? Assuming you’re eligible, why wouldn’t you want to roll the money over? What option do you have if you want to retire before 59 and a half if you don’t want to move all the money out of your 401k. The fear or apprehension that comes with moving money out of a 401k. Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/

Most people are familiar with target date funds, although they might not necessarily know them by that name. Your 401k plan might have a different name for it like a lifecycle fund, but regardless of what it’s called, it continues to be a popular investment choice. Let’s talk today about whether target date funds are a good way to invest for retirement. Here’s what you can expect to learn in this episode: How target date funds were first created. The effectiveness of these funds for someone in their 20s versus someone in their 50s. An example of a time where we found target date funds weren’t what someone needed in their retirement plan. Why most people aren’t paying close attention to the performance of their target date funds. Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/

In the fast-paced world we live in today, financial planning has never been more critical. It plays a significant role in helping us manage our resources, meet our financial goals, and secure our future. This importance becomes even more apparent when it comes to women, given their longer life expectancy and unique financial challenges. That’s why we talk specifically about financial planning for women and why it’s something we focus on. To help us understand this better, we asked Heather Atkins, CFP® to join us for this episode because she is keen to these issues that women face. Here’s what you can expect to learn in this episode: Financial planning and empowerment for widows and how you can get ahead of decisions to avoid added stress in times of grief. Situations we’ve seen where widows needed help navigating a precarious financial situation. Why longevity is a primary driver of the challenges women will face financially. What all needs to be included in a proper financial plan to make sure needs are taking care of if someone passes. Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/

Do you think there is a universal age to start Social Security? Have you ever wondered how your health history, longevity, and family history play into your decision on when to turn on your benefits? Let’s delve into this critical question in retirement and help you understand how we help our clients determine what age they should claim Social Security. Here’s what you can expect to learn in this episode: How we address this topic when the question comes up. Longevity is the key factor but can you rely on your family health history to project that? How this discussion fits into the overall planning process for retirement. Hear an example where it made sense to turn on Social Security at age 62 and another where 70 was the best age. When does it make sense to delay Social Security even after you’ve retired? The opportunity for a Roth conversion in your mid to late 60s. Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/

We’re in the middle of one of the largest wealth transfers in our country’s history as Baby Boomers pass on their estate to loved ones, and some of that money is coming in the form of an IRA. Rules regarding inherited IRAs have changed in the past few years so let’s take a few minutes to tell you what you need to do if you receive one. Here’s what you can expect to learn in this episode: Certain people are able to take over the account as their own without any rules. For most people, you are going to have 10 years to withdraw all the money in the inherited IRA. Why tax planning becomes so important for those receiving the inheritance. How have the rules changed on inherited IRAs in the past few years? Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/

Many people will use retirement accounts like the 401(k) to save money, but we often get asked about the amount they should be contributing each month. Should it depend on what your company matches or should you just put as much as you can afford in regardless? Let’s dig deeper into this question and tell you what we like to consider when answering this question. Here’s what you can expect to learn in this episode: The different questions we typically ask someone to determine how best to use a 401k. Are there instances where you shouldn’t put money in a 401k even if there’s a company match? When would you only want to contribute enough to get the company match but no more? Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/

When we talk about having a strategy for Social Security, it’s because the SSA isn’t going to point you toward the option that will pay you the most. It’s on every individual to understand the benefit options available and find the path that will help you get the most out of your retirement income. One of those options is the spousal benefit so let’s talk about what it is and who is eligible. Here’s what you can expect to learn in this episode: How spousal benefits work and how much you receive. What happens to the benefits when a spouse passes away? Options for paying for emergency medical expenses. What specialties should you expect from an advisor? Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/

Anytime a sentence begins with, “Well I heard,” it gets our attention because you never know what someone is about to ask us. People are bombarded by suggestions and recommendations every day so it’s no surprise that people always bring new ideas or beliefs to a meeting. We’re going to share some of these things people commonly hear and help explain why they don’t always apply to you. Here are some of the things we discuss in this episode: 1:06 – You need to have at least a million dollars to retire 3:27 – You should start Social Security as early as you can 4:48 – The market is going to tank because [insert reason here] 6:16 – I should try to keep the house in divorce because it will comfort me emotionally 7:33 – Soon the dollar won’t be the world’s reserve currency anymore Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/

Housing will always be one of the biggest pieces of the financial plan, but we’re getting a lot of questions from retirees about what to do with their home now that they’ve retired. There are four main options that most people choose from so let’s explore those today and discuss the pros and cons of each decision. Here are some of the things we discuss in this episode: 0:55 – What you need to weigh when staying in your current home 3:04 – Should you downsize? 6:31 – Pros and cons of retirement communities 8:23 – Does it make sense to become a renter? Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/