Money Wisdom

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/ 

10/4/24 • 12:51

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

9/27/24 • 14:38

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.   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

9/20/24 • 13:26

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/ 

9/13/24 • 11:01

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/   

9/6/24 • 12:09

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/ 

8/30/24 • 13:34

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/   

8/23/24 • 12:44

When you think about the bad habits that could negatively impact your finances, things like credit card debt and overspending your budget come to mind. Those are obvious ones, but we want to shine a spotlight on some of the most common financial bad habits that many people unknowingly practice. These habits, while seemingly minor, can have a significant impact on your financial health and future. Nick Colantuono, CFP® joins the Money Wisdom podcast this week to discuss these habits that we want to help you avoid. Check out the show to learn how to identify and break these habits to ensure a more secure financial future.   Here’s some of what we discuss in this episode: What you need to know about your account statements and why they can be valuable. Emotional decisions will often weigh you down and lead you in the wrong direction. It’s easy to fall back on procrastination when you don’t want to address an area of your finances. Long-term planning gets pushed back because it doesn’t seem necessary today, but it’s essential for protecting everything you’ve worked for.   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

8/16/24 • 14:31

It’s a gold medal edition of the podcast this week as we take a unique approach to financial planning by drawing parallels with the Summer Olympics. Nick Colantuono, CFP® joins the show to share insights that can help you navigate your financial journey with the precision and skill of an Olympic athlete.   Here’s some of what we discuss in this episode: Why a plan has to be built to last for decades rather than years and how you can account for inflation. Planning for financial emergencies. Ways to identify the hidden fees in your portfolio. The foundational elements to building a successful plan.   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/     

8/9/24 • 12:05

We’ve all had an idea that we acted on without giving it much thought. That’s fine when you’re choosing dinner or picking out new socks, but it’s not the best approach to managing your finances. In the latest episode of the Money Wisdom podcast, Matt Pastor, RICP® tackles the topic of "half-baked" financial ideas. These are the types of decisions that might seem clever at first glance but can have significant negative consequences if not thoroughly thought through.   Here’s some of what we discuss in this episode: Why signing your house over to your kid(s) while you’re still alive might not be the best plan. Starting your Social Security as early as possible while you’re still working could cause you to lose some of your benefits. Converting all of your IRA money into a Roth at the same time. Why you might not want to cancel your life insurance once you’re retired. Investing your emergency fund money to get a better return.   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

8/2/24 • 13:18

Inherited IRAs can be a financial lifeline, but they come with their own set of complexities, especially with the rule changes introduced in 2020. If you've recently inherited an IRA or are planning for the future, understanding these changes and how to manage your inheritance effectively is crucial. In our latest episode of Money Wisdom, we sat down with Heath Grossman, CFP® to break down the ins and outs of inherited IRAs and offer strategies to minimize your tax burden.   Here’s some of what we discuss in this episode: An explanation of an inherited IRA and how it’s different than a regular IRA. What changed with the rules around an inherited IRA in early 2020? What it means for Required Minimum Distributions. When would it be logical to withdraw the entire inherited IRA in year one? When would it make sense to wait as long as possible to take the money out?   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

7/26/24 • 13:35

It’s human nature to want to play the comparison game to find out how you stack up, especially when it comes to your finances. All that really matters is that you’re in good shape for the life that you want to create for yourself. But the comparison game is helpful for us to better understand our clients and their needs. In our latest episode of the Money Wisdom podcast, Heather Atkins, CFP® shared some fascinating research focused on the financial planning needs of single women. Heather has spent time meticulously gathering data on 50 of our clients, all of whom are single women—either divorced, widowed, or never married. This episode is packed with insightful revelations that can empower women in similar situations to take control of their financial futures.   Here’s some of what we discuss in this episode: Why Heather did this research on female clients and what she wanted to learn. What does the monthly income look like for this group of women? The exercise Heather does with clients to calculate their expenses. What did we find when it came to homeowners versus renters? Breaking down income and net worth and sharing her findings.   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

7/19/24 • 18:36

Have you ever dreamed of spending your golden years in a country abroad? The idea is becoming increasingly popular, but it comes with its own set of challenges and considerations. Luckily, we have the one and only Eric Hogarth, CFP®, here with us today to talk about some of the practical steps you’ll need to take to make this exciting idea a reality.   Here’s some of what we discuss in this episode: The financial and legal considerations of living in a new country Researching and experiencing the day-to-day living conditions Renting in your desired location for an extended period before committing Having conversations with your partner about what you want to do in retirement   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

7/12/24 • 13:22

When people compare financial firms, they often focus on getting the best return on their investments. While that's certainly important, what they really need to be paying attention to is the big picture. While many firms focus only on investment management- handling stocks, bonds, and mutual funds- our approach extends to include insurance planning, investment strategy, legacy planning, and tax planning. In this week’s episode of Money Wisdom, Nicholas Colantuono, CFP®, joins us to talk about the role of tax planning in a comprehensive financial strategy.   Here’s some of what we discuss in this episode: The importance of comprehensive financial planning beyond investment management The three types of accounts from a tax perspective: taxable, tax-deferred, and tax-free Strategies and pitfalls associated with each type of financial account Considerations for tax-efficient retirement planning, including the impact on income, Medicare premiums, and future tax rate changes   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

7/5/24 • 14:54

Are you familiar with the term ‘moving the goalposts’? It happens when people change or adjust their targets after they’ve already been established, which is something that happens all the time with finances. Many people set financial goals or deadlines, only to find themselves shifting those targets, often to their detriment. This episode of the Money Wisdom Podcast with Jake Doser, CFP®, CPWA® sheds light on why it's essential to establish a solid financial plan and stick to it.   Here’s some of what we discuss in this episode: What we tell people who set goals for cash but keep changing the amount they set aside. Pushing your savings goals back to prioritize other things then you don’t have a plan. Greed often drives us to take on more risk when we’ve already established goals to scale back at a certain point.   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

6/28/24 • 11:31

Financial planning is intricate and filled with potential pitfalls and mistakes that can have long-lasting impacts on your future. In the latest episode of the Money Wisdom podcast, Matt Pastor, RICP® breaks down the most common ways people make financial mistakes and provides valuable insights on how to avoid them.   Here’s some of what we discuss in this episode: People who don’t seek out help when they should have, especially for big financial decisions like pensions and Social Security. Examples of how listening to the wrong people can lead you astray. Don’t make decisions too quickly without thinking through the options and consequences. Procrastination and dragging your feet on decisions can be costly as well.   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

6/21/24 • 14:00

Life is full of unexpected twists and turns, and some of these can have a significant impact on our financial well-being. Whether it's changing jobs, going through a divorce, receiving an inheritance, or dealing with the death of a spouse, each of these major life events requires careful financial planning. Heath Grossman, CFP® joins the Money Wisdom podcast to explore the essential financial considerations for these pivotal moments.   Here’s some of what we discuss in this episode: When you change jobs, you should pay attention to decisions about health insurance, retirement accounts, and rollovers. Why a Rollover IRA is usually a good decision for old accounts. What you need to be thinking about financially if you go through a divorce. Receiving an inheritance comes with some tax implications you should know about. The biggest financial challenges that you deal with after the loss of a spouse.   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/  

6/14/24 • 17:02

Losing a spouse is one of the most challenging experiences one can face. The emotional toll is immense, and the financial implications can be equally daunting. In our latest episode of Money Wisdom, Eric Hogarth, CFP® joins the show to offer insights and practical advice to help those navigating life after such a significant loss. The stark reality is women are statistically more likely to outlive their husbands, which underscores the importance of financial planning tailored to the needs of surviving spouses, particularly women. We’ve had experiences with people that were well-prepared and able to embrace life after their spouse passed but others who really struggled with the change.   Here’s some of what we discuss in this episode: Examples of clients who have been widowed and life never was the same. Examples of clients who have been widowed but were still able to prosper after. The two or three main issues that people have to deal with when losing a spouse. How we approach our conversations about this topic when it’s difficult to face.   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

6/7/24 • 13:27

When it comes to financial planning, there are a few documents that are absolutely critical for ensuring that your affairs are in order, especially in unforeseen circumstances. One such document, which often doesn't get the spotlight it deserves, is the power of attorney (POA). In the latest episode of Money Wisdom, Heather Atkins, CFP®, CRPC®, discusses the importance of this legal instrument, particularly for women.   Here’s some of what we discuss in this episode: Why power of attorney might impact women more than men. What can someone who has a power of attorney do or not do. A story about one of our clients and how power of attorney came into play. Examples of issues that arise if you don’t have a power of attorney in place.   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

5/31/24 • 12:03

The financial planning calendar has its busy seasons. Things are typically busier at the beginning of the year for tax planning and towards the end of the year as people try to figure out what they need to get done before December ends. During the summer, there aren’t any deadlines necessarily so we’ll see things slow down a bit, and that’s a great time to take a closer look at your estate plan. In this episode of the Money Wisdom podcast, Nicolas Colantuono, CFP® makes his first appearance on the show to talk about the importance of estate planning regardless of how much money you’ve saved or how many assets you own. Many of us dismiss it as something only the wealthy need to worry about, but we’ll dispel this myth and explain why it applies to everyone, regardless of their net worth.   Here’s some of what we discuss in this episode: Our process for helping clients with their estate plan.   The differences between a will and a trust. A big part of estate planning is making your estate more tax efficient. The alarming number of people who don’t even have a will.   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

5/24/24 • 15:50

The beauty of financial planning is that we can shift and make adjustments as life changes, but there are some decisions that aren’t reversible. From the moment you claim your Social Security to the type of pension benefits you choose and the life insurance policies you secure, every choice can dramatically alter your retirement landscape. On this week’s Money Wisdom podcast, Jake Doser, CFP® sheds light on the irreversible decisions that shape our financial future.   Here’s some of what we discuss in this episode: What you need to consider before claiming Social Security Weighing the spousal benefit option for a pension. You can always get life insurance and then cancel it but if you wait too long it won’t be an option. How do you decide on a retirement date?   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

5/17/24 • 15:44

Are you standing at financial crossroads, pondering whether to stay with your current financial advisor or venture out in search of new pastures? Sometimes the grass appears greener in another pasture, but when are your concerns justified enough to make a change? In our latest podcast, Matt Pastor, RICP® joins the show to dissect the 'grass is greener' syndrome that plagues many in the world of wealth management. We want to cut through the noise and offer clarity and a dose of reality to anyone who's ever second-guessed their financial advisory relationship.   Here’s some of what we discuss in this episode: Should you change advisors if they make a mistake that costs your money? What if you aren’t able to communicate directly with your advisor because they grow too big? How much weight should you put into dinner seminars and the impression an advisor makes? Conversations we have with clients who come in to meet with us about possible changes. If you or your advisor move to a different state, does that impact the relationship?   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

5/10/24 • 14:27

Retirement is a milestone that many of us look forward to, but it comes with its own set of uncertainties. How do we plan for a future when we don't know how long we'll live, what the stock market will do, or the political landscape that will shape tax laws? The latest episode of the Money Wisdom podcast addresses these questions head-on. Heath Grossman, CFP® joined the show this week to discuss the complexities of retirement planning with a focus on the unpredictable. When you look at uncertainties of planning, preparing for longevity, navigating stock market volatility, and anticipating changes in tax legislation are a few of the key challenges we have to address.   Here’s some of what we discuss in this episode: One of the biggest uncertainties in retirement is longevity. How do you invest not knowing what the stock market is going to do year to year? Do future elections matter in retirement planning? Will Social Security be around for you in retirement?   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

5/3/24 • 13:06

In the latest episode of the Money Wisdom podcast, hosts John Stillman and Jake Doser, CFP®, serve up a delicious 'acronym salad'—a mix of financial terms that often leave even the savviest investors scratching their heads. If you’ve ever stopped to think about what an acronym meant, this episode will help clear up some of the jargon. No matter how experienced you are with money, these acronyms can still cause plenty of confusion that these acronyms can cause.   Here are some of the acronyms we discuss in this episode: ETF RMDs CFP CPI HSA FSA   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

4/26/24 • 14:14

Have you ever wondered how becoming a grandparent might change your perspective on money and legacy? The latest episode of the Money Wisdom podcast features Joel Johnson, CFP, who has recently become a grandfather for the second time. His insights into the financial planning world, coupled with his new role in the family, provide a unique and heartwarming perspective on managing wealth for future generations.   Here’s some of what we discuss in this episode: What are some things Joel wants to do with his grandsons that he never thought doing with his sons. The best approach for helping grandchildren with educational expenses and whether a 529 plan is the best route. How do you approach your legacy plan when you have significant assets to pass along. Situations where parents have ruined their kids with the way they’ve approached finances.   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/     

4/19/24 • 16:51

Have you ever chuckled at the antics of Michael Scott on 'The Office' and thought, "What does this have to do with my financial future?" Well, it turns out, quite a bit! On the latest episode of the Money Wisdom podcast, hosts John Stillman and Matt Pastor, a Retirement Income Certified Professional on our team, take you on a delightful journey where sitcom laughs meet serious financial strategy.   Here’s some of what we discuss in this episode: Why you shouldn’t rely solely on the internet for financial advice. What approach should advisors take when it comes to communicating with clients. Financial jargon is the inside jokes of the financial world and we don’t want to keep clients out of the loop. How do you manage life away from work and the people you’ve spent so many hours of the day with.   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

4/12/24 • 12:39

We’re in the middle of another election year in our country and regardless of your politics, there’s always a little concern over the uncertainty of who will take office and how will markets react. People ask all the time about the impact election years have on investing and whether they should be looking to make changes. We are all driven by emotion as humans so it comes as no surprise that this can be a volatile time, but will it be? In this episode of the Money Wisdom podcast, Heath Grossman, CFP® puts the emotions aside to take a look at what history shows us about returns when different parties are in office.   Here’s some of what we discuss in this episode: Put aside bias and emotion and let’s look at the reality of financial returns during election years. What should investors focus on in an election year as it relates to investments? The noise surrounding elections heightens anxiety so we want to try and block that out. We can’t predict what the market will do but we can prepare for every outcome to put you in the best position possible.   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/     

4/5/24 • 12:42

The bond market is often touted as a haven for investors seeking stability and safety. Yet, as with any investment, it is fraught with nuances that can make the difference between a secure addition to one's portfolio and one with unexpected downside. To help provide clarity on bonds and how they play into an investment portfolio, Jake Doser, CFP® joins the podcast to provide a foundational understanding for investors looking to harness their potential.   Here’s some of what we discuss in this episode: Bonds can mean many different things so how do we define it? The difference between individual bonds and bond funds. How do bonds lose money and why did things get so bad in 2022?   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/     

3/29/24 • 12:45

Financial planning for retirement is a crucial process that requires a strategic approach to ensure long-term security. All too often, however, people will get in their own way and make mistakes that were completely avoidable. In this week’s podcast, we’re going to talk about the most common examples of this with the guidance of Eric Hogarth, CFP®.   Here’s some of what we discuss in this episode: Getting caught up in the greed and fear cycle of the stock market and chasing more money than you need to. Why people make bad investment choices just to save money in taxes in the short-term.  People will leave too much money in cash because they put off making a decision on what to do with it. Are you overthinking your financial plan to the point that you fail to make decisions at all? Don’t blindly trust financial advice from people that aren’t financial professionals.   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/     

3/22/24 • 13:43

We’re in the middle of tax season and many people are still getting their paperwork together and wondering about ways to save money on last year’s taxes. The good news is there are ways to potentially save on your taxes even though we’re in a new year, and today we’re going to talk about how with Matt Pastor, RICP® on our latest podcast. This conversation is particularly beneficial for individuals who have just realized their oversight in contributing to their Individual Retirement Account (IRA).   Here’s some of what we discuss in this episode: Why it’s common for people to not be aware of this IRA option and what you need to know about contribution amounts. Should you put money into those retirement accounts or is it better to use elsewhere? How significant could the tax savings be over time? Where do you find the balance between liquidity and adding to retirement accounts?   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/     

3/15/24 • 11:10