Money Wisdom

In honor of the NFL Draft just wrapping up, we thought we’d do a little drafting of our own on the podcast. So we’ve asked Eric Hogarth, CFP® to put on his General Manager shoes and lead our retirement planning team into a financial draft. Find out which products make the grade and which get left behind.   Here are some of the things we discuss in this episode: 1:11 – The Roth IRA is a first round pick 1:58 – Gold and precious metals are a pass. 3:18 – Life Insurance Retirement Plan or LIRP 4:41 – The variable annuity   6:37 – Indexed annuity gets a good grade 8:04 – Rental properties are a second round pick 12:23 – CEO’s Corner: How does Joel consume news? 21:32 – Mailbag question on how much of your annual salary you need saved.   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/     

We know you count on your financial advisor to shoot you straight and tell you what you need to hear rather than what you want to hear. That’s what we’re going to do on this episode as Eric drops a few financial truth bombs on us and provides us with a retirement reality check.   Here are some of the things we discuss in this episode: 3:22 – Bonds aren’t always as great for retirees as a lot of people might think. 4:32 – Income tax rates are close to historical lows. 5:35 – The hardest part of investing is managing your own behavior.   8:27 – Is it fake Jake? Experts say 2023 will be a year of economic pain. 12:30 – Mailbag question on helping children with buying a house. 14:01 – A Woman’s Word: Longevity risk 19:54 – Mailbag question on paying for college.   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/     

Periodic reviews with certain clients can look very different from reviews with others. We’ve worked with just about every type of personality through the years so let’s talk about how our conversations might sound depending on who we’re meeting with for a review.   Here are some of the things we discuss in this episode: 1:02 – Clients that always need us to explain something again 2:07 – The client that is positive about everything 3:12 – The client that never wants to come into the office to meet. 4:30 – The person with a great new idea or something always happening 5:45 – The person that’s always worried about everything 8:44 – On the case with Heath: Getting too enamored with one product 12:44 – Mailbag question on bank failures 14:14 – Mythbusting with Matt: Social Security is its own independent decision 19:47 – Mailbag question on retiring early   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/     

Like anything else in life, financial planning is much easier to do in hindsight. We all have a few (or more) decisions we’d like to go back and change if we could. Let’s talk about a few of the regrets people are probably coming to terms with today.   Here are some of the things we discuss in this episode: 1:16 – Did you miss the long bull run following 2008 because you were too worried and conservative? 3:32 – Not understanding how much risk you had until 2022 hit 6:36 – Regretting starting Social Security too early 11:10 – CEO’s Corner with Joel Johnson – Advice he’d give his younger self 19:43 – Mailbag question on what to do with excess income in retirement 21:48 – Mailbag question on raising your savings goal because of retirement   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/     

Money and finances can be difficult topics to discuss, but it is an essential conversation that needs to take place with children. With the proper guidance, your child will learn key lessons about money management and develop healthy financial habits. In this episode, Joel will share his family's approach to helping his children learn about important financial topics. Here are some of the things we discuss in this episode: 0:56 – Applying Steve Martin quotes to financial planning 6:18 – Is it fake, Jake? Hedge funds are cautious 10:40 – Maibag question on helping with childcare expenses 13:04 – CEO’s Corner with Joel Johnson: Behavior with money 20:49 – Mailbag question on large Roth conversion amounts.   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/     

Different stages of life bring different challenges, and people nearing retirement often make some of the same mistakes with their money time and time again. As a pre-retiree, it's important to understand that your financial plan needs to be tailored around the goals you have for retirement. Let’s take a look at some of the classic mistakes we see people make.   Here are some of the things we discuss in this episode: 1:05 – How is our financial life like a closet? 2:56 – What are the first steps you can take to start getting organized? 5:56 – Money Map retirement review details 7:34 – On the Case with Heath: When refinancing doesn’t make sense 12:49 – Still investing like you were 20 years ago 14:20 – Starting Social Security without a strategy 16:45 – Mythbusting with Matt: Financial planning is much easier today   20:48 – Mailbag question on managing an old 401(k)   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/     

In nearly all of the retail, restaurant and hospitality world, the old saying is that “the customer is always right.” But when it comes to financial planning, it’s probably not wise to subscribe to that idea. What’s the point of having a financial coach if your advice is better than your coach’s advice? Let’s talk about some statements you might hear from clients that might require you to push back because the customer isn’t always right.   Here are some of the things we discuss in this episode: 1:05 – When someone says, “Now is the time to get into or out of the market.” 2:24 – “This is what I want to invest in. I just need you to pick the exact funds for me.” 3:07 – When someone doesn’t want to spend money on a certain product or investment. 4:21 – When someone makes up their mind on an investment strictly based on fees. 5:42 – “My accounts are down right now so I don’t think this plan is working.”   8:12 – A Women’s Word with Heather Atkins: How women approach investing. 13:57 – Mailbag question on saving strategies close to retirement 15:30 – CEO’s Corner with Joel Johnson – The labor market   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/     

A lot of people were probably pretty well prepared for the downturn in 2022, but that doesn’t mean there wasn’t any uneasiness along the way. If you didn’t fall into that group of people who were ready, let’s talk about what you can do to change that before the next downturn.    Here are some of the things we discuss in this episode: 1:22 – Always have an understanding of the risk you’re exposed to 2:47 – Protecting gains as you go 4:05 – Are you diversified enough? 5:49 – Don’t panic when the next crash comes 8:45 – On the Case with Heath: Underfunded retirement 14:33 – Mailbag question on rental income 16:50 – Mailbag question on funding a wedding 19:12 – Is it fake, Jake? Gold could rise dramatically   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/     

When it comes to money, people often make excuses for why they can't save or spend wisely. It's easy to make up a story about why you aren't able to do enough from a financial planning standpoint, but our attitudes often impact our success with money and in life. Let's look at some of the common excuses we hear and how they could impact retirement.   Here are some of the things we discuss in this episode: 1:09 – “I never had anybody teach me about money so I made a lot of mistakes.” 3:28 – “I’m just not good with money.” 4:26 – “We’re going to have a recession soon so I guess there’s nothing I can do.” 5:54 – “You have to have a million dollars to retire so I guess I have a long ways to go.” 9:34 – A Women’s Word with Heather Atkins – Financial focus during a divorce 14:49 – Mailbag question on where to contribute after maxing out 401k. 16:22 – Mailbag question on starting a business later in life. 18:23 – Mailbag question on pushing back Social Security. 19:44 – Mythbusting with Matt Pastor – There’s a perfect time to start collecting Social Security   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/     

As we move a little further away from 2022, we start to get a little more information and data on what a very weird year it turned out to be. So many different factors played into the negative results we saw in the market, and we watched people handle that volatile year in a variety of different ways. Let's take a look at some fo the different emotions that manifested themselves over the course of the last year due to the down market.   Here are a few of the things we discuss in this episode: 1:23 – The fear and panic people felt while the market was turbulent. 2:46 – Anger for a number of different reasons 4:13 – Is it possible to be blissfully ignorant during down markets? 5:28 – Some people view this time with an opportunistic perspective. 7:55 – On the case with Heath Grossman, CFP® - A tax-free Roth conversion 12:54 – Mailbag question about having too much money in the bank 14:51 – CEO’s Corner with Joel Johnson 21:53 – Mailbag question on Social Security and income limits.   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/     

While it’s said that genius is a natural and innate ability, there are certain traits or habits possessed by geniuses that we can learn from. These qualities, when applied to financial planning, can help you make the most of your money while protecting yourself from future economic uncertainties.   Here are a few of the things we discuss in this episode: 1:15 – Geniuses are highly adaptable.   3:41 – Geniuses actually understand how much they don’t know.   5:19 – Geniuses learn from the mistakes of others. 9:40 – Is it Fake Jake? A looming economic hurricane? 13:38 – Mailbag question on retirement living options. 16:22 – Mailbag question on justifying private school tuition. 19:20 – Mythbusting with Matt – Lower tax brackets in retirement     Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/     

Secure Act 2.0 is the most recent amendment to the Secure Act of 2019, and it promises to have a major impact on retirement planning. This new legislation contains a long list of provisions and changes, but we've identified a short list that will impact many people preparing for retirement.  In this episode, we'll take you through those four changes and explain how they might affect your financial future.   Here are a few of the things we discuss in this episode: 1:15 – RMD age pushed back again to 73 and eventually 75. 3:09 – Special catch-up contribution 4:31 – Opportunity to move money from a 529 to a Roth 6:27 – Getting a company match by paying off student loans 10:24 – CEO’s Corner with Joel Johnson on early retirement 17:11 – A Women’s Word with Heather Atkins   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

Is the end of social security near? Evidence suggests that, while it is not likely to disappear soon, its long-term outlook is uncertain. Social security benefits have been decreasing over time and are inadequately funded. So what will the future hold for this important piece of retirement income? We'll address that along with two questions from the mailbag on travel expenses and dividing an estate.   Here are a few of the things we discuss in this episode: 0:17 – I put off a trip to Europe for many years and now I wonder if it’s a wise use of money. What if I end up needing nursing home care later? 2:47 – What’s the best way to keep your children from having disputes over your estate? 4:32 – Is it fake Jake? The looming depletion of Social Security and Medicare. 6:40 – How do politicians manage the future of Social Security?   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

Retirement brings with it an exciting time of life, but also the challenge of figuring out how to make ends meet in retirement. Retirement income is an important factor in planning for retirement and there are many options available to ensure that retirees have the funds they need. From Social Security, pensions, and lump sums, you need to know how it all fits together in the most tax-efficient way possible.   Here are a few of the things we discuss in this episode: 0:14 – Should I retire in 5-6 with a pension or retire now with a severance package and pension buyout? 1:32 – I’m retiring this year and will have about 18 weeks of vacation and sick leave to get paid out for. Should I wait an extra month and retire in January instead of December for tax reasons? 2:45 – We’re building our dream home and will move in the next year or two. Should we keep our current house as a rental property or sell it and invest the cash? 4:50 – Will gold rise dramatically in a short period of time? 9:16 – Get your questions answered through your Money Map review   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

Investing your money can be a scary thing, especially when you don't feel like you have a good handle on the terminology and concepts. Many people turn to financial advisors to help guide them through their investments, but it's important to make sure that they are actually helping rather than hurting. Let's talk about a few scenarios where your advisor might be naughty or nice.   Here are a few of the things we discuss in this episode: 1:00 – How should your advisor be handling meetings with the client? 2:46 – If an advisor tells you they have an asset minimum, but is this actually nice? 4:28 – Should your advisor go ahead and make investment changes for you? 6:04 – On the Case with Heath   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

The financial world is full of complexities, and it can be hard to keep up with all the nuances. However, there are some aspects that are often overlooked or underrated in terms of their importance. Here we will discuss three things that should be appreciated more in the financial world. Here are a few of the things we discuss in this episode: 0:39 – Why liquidity is important for a retiree? 1:47 – Why don’t we appreciate predictability more? 3:06 – The beauty of simplicity in a financial plan. 5:46 – Mailbag question on Roth conversion amounts 6:59 – Mailbag question on rolling over an old 401(k)   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

When it comes to financial strategies, there are three that might not be as advantageous as you might think: tax advantages, rates of return, and commission-based investment accounts. In this episode of the podcast, Eric Hogarth, CFP® will explain why.   Here are a few of the things we discuss in this episode: 1:51 – Are tax advantages overrated? 4:20 – What states do people in New England move to in retirement? 5:57 – Story about a conversation we had with a client recently 7:34 – Are rates of return overrated? 9:38 – Are commission-based investment accounts overrated?   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/   

On today’s episode, we’ll dive into the mailbag to answer a few financial questions that we’ve been asked recently. The topics we’ll tackle today are what to do with old IRAs, rolling over retirement accounts, and Social Security benefits for ex-spouses. If you’ve been curious about any of these financial planning items, then you’ll want to listen to this show.   Here are a few of the things we discuss in this episode: 1:55 – Mailbag question 1 – Should I cash out an old IRA? 3:22 – More accounts doesn’t mean more diversification 5:02 – Mailbag question 2 – Is it okay to do a rollover now and in the near future or all at once? 6:48 – Mailbag question 3 – Can I collect on my ex-husband’s Social Security benefit? 7:40 – Why you want to get the Money Map retirement review    Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/   

Let’s take a little different approach to the financial discussion today and look at how the seven deadly sins can apply to your planning. Not only should you be avoiding these sins in your personal life but also in a financial context as well.   Here’s are the seven sins we discuss in this episode: 2:30 – Pride 3:59 – Envy 5:22 – Wrath 6:46 – Greed 8:31 – Laziness 10:178 – Gluttony  12:13 – Lust   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/   

We often only deal with an inheritance a few times during our lifetime, so it's little surprise that we get questions about receiving and leaving an inheritance. In this episode, Eric Hogarth, CFP® will address the major inheritance questions that are out and highlight some of the mistakes that are commonly made.   Here’s what we discuss in this episode: 0:50 – Tax implications of the money you inherit 2:28 – How SECURE Act changed inheritances 4:50 – Estate planning mistakes we commonly see 6:19 – How we can help you with an inheritance   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

The start of a new year always provides a chance for reflection and opportunity to reset goals for the next 12 months. Today’s episode will do both of those things as Eric highlights the biggest financial takeaways from a volatile 2022 and lays out a checklist of action items for 2023.   Here’s what we discuss in this episode: 0:38 – Stocks and bonds drop in 2022 2:43 – Mortgage rates doubled in 2022 4:01 – Bitcoin had an awful year in 2022 6:09 – Gas prices soared in 2022 7:46 – On the Case with Heath Grossman, CFP® - Sequence of returns risk 16:45 – New Year Checklist – Tax withholdings 17:57 – New Year Checklist – Retirement account contributions 18:56 – New Year Checklist – Gather all your tax info 19:30 – Mythbusting with Matt   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/   

When you think about financial planning, you might not realize that your childhood can have a big impact on your current finances. Eric Hogarth, CFP®, explains how our upbringing can influence our money decisions later in life. Understanding these money triggers can help us make more conscious choices about our spending and saving. Join us to learn more about how your own childhood may be impacting your financial planning today.   Here’s what we discuss in this episode: 1:22 – Those who lived through the Great Depression 4:29 – People that grew up very poor 9:09 – Growing up in a wealthy family 10:43 – The way families communicate about money   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/   

Providing answers to your financial questions is one of the things we enjoy doing most each day and our podcast provides a great outlet for that to happen. On this episode, we’re going to take four questions on RMDs, savings, planning mistakes, and whether ETFs or mutual funds are the better investment.   Here’s what we discuss in this episode: 0:26 – Mailbag question on RMDs 2:44 – Mailbag question on keeping money in savings 4:18 – Mailbag question on retirement planning mistakes 7:27 – Mailbag question on ETFs and mutual funds   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/   

Are you ready to retire? Many people aren't sure if they are ready to leave their careers behind. In this blog post, we will discuss some of the reasons why people may not be ready to retire. We will also provide tips on how to overcome these challenges and make the transition to retirement easier. So, if you are thinking about retiring soon, be sure to listen to this episode. Here’s what we discuss in this episode: 0:42 – Bigfoot news 2:27 – “I don’t want to retire” 3:53 – They’d be bored if they retired. 5:41 – They use this excuse as a defense mechanism 7:29 – Lack of confidence 9:45 – Eliminate the anxiety through planning   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/   

In times like these when the stock market is tumbling over an extended period of time, we often get calls and questions from people about what they’re most concerned about. It’s natural to be worried or fearful when account values are dropping, but that’s a time when you can lean on your advisor. Let’s talk about the guidance we provide during volatile markets and what you should be paying the most attention to moving forward.   Here’s what we discuss in this episode: 0:42 – The questions and concerns we’re hearing right now 3:57 – What investments strategies can you use in these markets?   7:25 – Why do look at the mark in two extremes? 9:11 – Mailbag question on where to pull money from to invest   13:31 – The Money Map Retirement Review   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

We’re right in the middle of football season and many people are spending lots of time on the weekend following their favorite team. Since it’s fresh in our minds, let’s see if we can’t get a little financial value out of what we’re watching. On this show, we’re going to take some strategies from the game and apply them to our financial planning. Here’s what we discuss in this episode: 1:00 – The Financial Red Zone 3:17 – The hurry-up offense 5:08 – Victory Formation 7:03 – Good coaches do make a difference   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/     

Most people think of their home as their largest asset. But for retirees, that may not be the case. In fact, your retirement savings may be your biggest asset. And it's important to manage those assets carefully in order to ensure a comfortable retirement. In this episode, we will discuss some tips for managing your retirement savings wisely.   Here’s what we discuss in this episode: 0:52 – The 401(k) account 1:55 – How the house fits into planning 3:25 – Your Social Security 5:44 – Future savings potential 7:16 – All of your smaller accounts   9:22 – Mailbag question on 401(k) rollovers 10:46 – Mailbag question on getting married a second time 12:48 – Mailbag question on inherited IRAs   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/   

The humor of Jerry Seinfeld has held up extremely well over time and reading through some of his quotes always provides a good laugh. Today we’re going to take some of the more notable quotes and apply them to financial planning. Your first reaction might be to say, ‘What’s the deal with that?’, but we think you’ll enjoy this light-hearted approach to highlight some important pieces of planning. Here’s the rundown for this episode: 0:52 – Quote 1 2:00 – Quote 2 3:04 – Quote 3 4:23 – Quote 4 5:56 – Quote 5   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/ 

Financial planning is one of the most important aspects of life. If you don't have your finances in order, it can be very difficult to achieve your goals. That's why it's important to ask questions when you’re unsure about something. On this podcast, we will answer three great questions about investing, supporting grandchildren, and Social Security.   Read more and get additional financial resources: http://johnsonbrunetti.com    Here’s what we discuss in this episode: 0:24 – Mailbag question on the stock market 3:47 – Mailbag question on helping support grandchild 6:52 – Mailbag question on Social Security 8:47 – How the Money Map review process helps these  

Do you find yourself struggling to save money? Do you feel like you are constantly at war with your finances? If so, you are not alone. A lot of people have a hard time managing their money because they let mental blocks get in the way. In this podcast, we will discuss some of the most common mental blocks when it comes to money and how to break free from them.   Read more and get additional financial resources: http://johnsonbrunetti.com    What we discuss in this episode:  1:37 – The IKEA Effect 4:35 – Extreme optimism 6:10 – Extreme pessimism 7:45 – Bike shedding 10:13 – The Status Quo Bias  12:05 – How the Money Map review process helps this