The one constant in financial planning is change, especially when it comes to tax laws. The government is always adjusting tax laws and they’ve recently made some changes to the rules around retirement accounts. For people that have been saving for retirement, it’s important know how these changes will affect you and your family.

In this episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® tackle the intricate subject of inherited IRAs and the ever-evolving tax laws that accompany them. As tax regulations change, it's crucial to stay informed and prepared to handle the financial implications that arise when inheriting retirement accounts.

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

• The changes made to the stretch IRA that will force you to pay taxes on that money much sooner.
• Why does Uncle Sam require a minimum distribution on inherited IRAs?
• How this changes the legacy planning portion of our conversation with clients?

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Nearly everyone we talk to wants to know when is the ideal time to take Social Security, and that’s a natural question because they’ve been paying into it for a very long time. Clients not only want to start getting that money out but want to do it in the most efficient way so they can maximize their benefit.

Making the decision about when to start taking Social Security benefits is one of the most crucial financial choices you’ll face as you approach retirement. In this episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® take you through the process for making this decision and how we approach it with our clients.

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

The key ages for Social Security.

The viability of the system and the benefits.

One of the biggest questions we get asked is about break-even points.

Why taking them sooner might allow you to enjoy the money and continue to grow your assets for your heirs.

The other factors that play into your decision.

To aid in this decision-making process, Johnson Brunetti offers a helpful booklet on Social Security decisions. You can get your hands on this resource by texting the word "social" to 800-757-0436. This booklet can provide you with the information you need to make an educated choice about when to start taking your benefits.

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

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

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?

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

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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.

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

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

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/

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

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/

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

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/

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