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How Money Works

Husband and wife team, Craig and Jennifer Moser of Maestro Wealth Advisors discuss crucial tips for planning your successful retirement. Listen for valuable insight from professionals with unique insight and perspective on How Money Works. If you need any help with your financial or retirement plan, give them a call at 336-448-1086 or visit the website, https://maestrowealth.com

Tracks

Ep 62: Take Out the Trash in Your Financial Life
Sometimes you just need to go through your financial life and take out the trash. Today we’re talking about the things that might need to be thrown out. From debt to hidden fees, we’ll explain how some financial trash could be hurting your retirement plans and financial security.   What we discuss in this episode:  Why debt is not a problem for some people but can really hurt other people’s retirement. (1:26) Why taking on more risk can sometimes backfire on your finances. (3:46) How to find hidden fees and understand why they can wreck your finances. (6:43) Listen to more of our conversation in the podcast or reach out to us to talk about your financial situation and goals. Get additional financial resources:  https://maestrowealth.com/how-money-works-podcast/ 
14:09 10/06/2022
Ep 61: Mailbag: Mortgages, Charities and Retirement Goals
We're taking your questions by email this week to see what’s on your mind and how we can help with your finances.   What we discuss on this episode:  Seth has always given a few hundred dollars to charities in previous years, but he wants to know if he can get tax credit for that. (0:41) Rhonda wonders if she should save more for retirement or pay more towards her mortgage. (7:35) Floyd worries he’ll never be able to retire. He has $500,000. Should he plan to work forever? (12:06) We answer these questions in depth on the show, but let us know if you have any other financial queries.  Get additional financial resources:  https://maestrowealth.com/how-money-works-podcast/ 
16:56 09/15/2022
Ep 60: Annuities 101
There’s a lot of confusion out there about annuities, probably because there are different types that do different things. We’ll explain how they work and how they might be used in your financial plan.   What we discuss on this episode:  1:22 – Immediate annuity 2:55 – Tax-deferred annuity 4:06 – Fixed annuity 5:07 – Fixed index annuity 6:30 – Pros and cons 8:15 – Volatility 9:09 – Annuity contracts   Get additional financial resources:  https://maestrowealth.com/how-money-works-podcast/ 
11:27 09/01/2022
Ep 59: A Message To Good Savers
So you’ve done a good job saving and investing over the years. You’ve lived on less than you’ve earned, kept yourself out of debt, and your investments have done pretty well. That means everything will be simple for you in retirement, right? Not necessarily.   What we discuss on this episode:  0:43 – Too much cash 3:36 – Too much risk 6:16 – Tax time bomb 10:08 – Taxable events 15:48 – Spending money   Get additional financial resources:  https://maestrowealth.com/how-money-works-podcast/
20:34 08/18/2022
Ep 58: The Final Decade Before Retirement
If you’re about a decade away from retirement, there are some important steps you need to take now to get ready. We’ll share some top tips for being prepared for stepping away from work.   What we discuss on this episode:  0:46 – What’s important 4:17 – Market drops 6:08 – Health care 11:11 – Changing needs 14:45 – Retiring early   Get additional financial resources:  https://maestrowealth.com/how-money-works-podcast/
17:52 08/04/2022
Ep 57: Retirement Planning is Harder Than it Looks
As advisors, we are constantly immersed in retirement planning. But for the average person, retirement planning can be a lot harder than it looks. Today, we’ll break down whether Social Security, risk, diversification, and 401(k)s are truly easy or a bit more complicated than we realize.   What we discuss on this episode:  0:53 – Social Security 4:06 – True diversification 6:21 – Managing risk 8:36 – 401(k) rollovers   Get additional financial resources:  https://maestrowealth.com/how-money-works-podcast/  
13:00 07/21/2022
Ep 56: Retirement Planning For Business Owners
Business owners are particularly vulnerable to some misconceptions and false assumptions about their retirement. Today we’ll address a few of these issues and help you become better prepared when it comes to building your financial plan.    What we discuss on this episode:  0:46 – Retirement taken care of 3:17 – Money in the business 4:56 – Selling the business   Get additional financial resources:  https://maestrowealth.com/how-money-works-podcast/
11:42 07/07/2022
Ep 55: What is Your Risk Tolerance Level?
Are you someone who doesn’t mind riding the rollercoaster of investment ups and downs? If so, you are more of a risk-taker. But not everyone is. Today we’re talking about risk tolerance and how to figure out what your level is.   What we discuss on this episode:  0:27 – What is risk tolerance? 3:42 – Determining your tolerance 5:50 – Different tolerances 8:00 – Annuity or fixed index   Get additional financial resources:  https://maestrowealth.com/how-money-works-podcast/
11:59 06/16/2022
Ep 54: Financial Proverbs That Can Help You
We made a list of some financial proverbs that we thought might be able to help you in your financial situation. Find out what you can glean from these wise words.   What we discuss on this episode:  0:31 – Bird in the hand 2:24 – Rising tide 4:08 – Eggs in one basket 7:00 – One man’s trash   Get additional financial resources:  https://maestrowealth.com/how-money-works-podcast/
11:08 06/02/2022
Ep 53: DIY Financial Planning
People love do-it-yourself projects. There’s even a DIY Network where you can watch shows about home renovation, landscaping, or interior design and how to do those things without professional help. Today we're talking about the DIY mentality in retirement planning.   What we discuss on this episode:  0:47 – Don’t want to spend money 4:20 – Market downturns 9:04 – Money management 15:36 – DIY fails   Get additional financial resources:  https://maestrowealth.com/how-money-works-podcast/
19:33 05/19/2022
Ep 52: Things You Don’t Consider for Retirement
When planning your retirement, there are some key details you need to consider. For instance, will you need to support your parents or kids later on? We’ll explore this and other questions on today’s show.   What we discuss on this episode:  0:22 – Sandwich generation 3:08 – Quitting your job 9:25 – Retiring from something 15:12 – Major purchases 18:35 – Surviving spouse   Get additional financial resources:  https://maestrowealth.com/how-money-works-podcast/
21:15 05/05/2022
Ep 51: Style vs. Substance in the Financial World
On today’s show we’re talking about some of the stylish things in the financial world that can distract you from the substance that you should really be focused on. We’ll explain why you should watch out for sales brochures, hypothetical projections and testimonials.     What we discuss on this episode:  1:20 – Sales brochures 3:44 – Hypothetical projections 5:40 – Testimonials 7:12 – Advisor rewards   Get additional financial resources:  https://maestrowealth.com/how-money-works-podcast/  
10:13 04/21/2022
Ep 50: Are You Asking the Wrong Questions About Your Finances?
A lot of people have questions about their retirement plan, but you might be asking the wrong questions. We’ll share some common wrong questions and what better questions might be.   What we discuss in this episode:  0:52 – How much to save? 3:07 – Long-term care insurance 6:10 – The highest return   Get additional financial resources:  https://maestrowealth.com/how-money-works-podcast/
10:27 04/07/2022
Ep 49: What it’s Like to Be Our Client
Today we’re focusing on what it’s like to be our client. We’ll explain how the relationship between a client and financial advisor evolves and how having an advisor can be beneficial for you.   What we discuss in this episode:  0:33 – Evolving relationship 4:13 – Sharing life 5:02 – Checking in 6:30 – Out of the norm 8:40 – Memorable victories   Get additional financial resources:  https://maestrowealth.com/how-money-works-podcast/
11:39 03/17/2022
Ep 48: Do You Want to Retire Early?
Sometimes we have clients who want to retire early. But how much earlier do they mean, and is this a realistic goal? We’ll share some challenges they face and how to know if early retirement is for you.   What we discuss in this episode:  0:34 – How early? 2:24 – The gap 3:54 – Inflation 5:46 – Investing while saving 7:36 – Challenges of retiring early 10:44 - Insurance   Get additional financial resources:  https://maestrowealth.com/how-money-works-podcast/
13:13 03/03/2022
Ep 47: CPA Shares Business Advice, Mistakes to Avoid
If you are a seasoned business owner, today’s episode is for you. Jimmy Eggers, a partner at Smith Leonard Accountants and Consultants in High Point, N.C., is sharing business-planning expertise, strategies and mistakes business owners make.   What we discuss in this episode:  2:15 – Business mistakes 5:35 – Unwinding a business 10:42 – Keep more money 12:36 – Employees 14:38 – Retirement account 17:45 – Outside of retirement accounts   Get additional financial resources:  https://maestrowealth.com/how-money-works-podcast/   About our guest: https://www.smith-leonard.com/staff/eggers-jimmy/ 
21:08 02/17/2022
Ep 46: Answering Your 401k FAQs
We get a lot of questions about 401Ks, so we thought it would be a good idea to address as many of them as we can. See if your 401k question is addressed on today’s show.   What we discuss in this episode:  1:22 – Advice from company plan 4:21 – Max out 401k? 7:12 – Target date funds 9:12 – 401k loan   Get additional financial resources:  https://maestrowealth.com/how-money-works-podcast/  
12:19 02/03/2022
Ep 45: Financial Planning Tips for Couples
What do married couples tend to disagree about when it comes to money? What financial matters do they often fail to communicate about? We’ll share some of the primary things that need to be discussed and decided between partners before true financial planning can begin.   What we discuss on this episode:  0:26 – What couples disagree about 3:07 – Ready to retire? 4:15 – What you need to discuss 6:32 – One spouse handling finances 8:19 – Helping couples get on the same page   Get additional information:  https://maestrowealth.com/how-money-works-podcast/
11:13 01/20/2022
Ep 44: The First Steps in a Financial Plan
For some folks, the idea of putting together a financial plan can be overwhelming. But it’s less threatening if you just focus on the first step. Let’s talk about a few possible first steps that you could take.   Read more and get additional financial resources here: https://maestrowealth.com/2022/01/06/ep-44-the-first-steps-in-a-financial-plan/   What we discuss on this episode:  1:08 – Retirement dreams 2:50 – Financial inventory 6:25 – Income plan
11:36 01/06/2022
Ep 43: How Do You Know?
How much money will you need in retirement? Do you still need life insurance? How much risk should you take? We’ll help answer these questions and more on today’s show.   Read more and get additional financial resources here: https://maestrowealth.com/2021/12/16/ep-43-how-do-you-know/   What we discuss on this episode:  0:34 – Income 4:43 – Life insurance 8:37 – Risk 11:30 – Fees
15:50 12/16/2021
Ep 42: Questions People Ask Financial Advisors
Before meeting with an advisor for the first time, people often Google “questions to ask a financial advisor” and come in with a list of questions that they find. Are these good questions? Is there anything different you should ask? And what answers should you look for?   Read more and get additional financial resources here: https://maestrowealth.com/2021/12/02/ep-42-questions-people-ask-financial-advisors/   What we discuss on this episode:  0:42 – Are you a fiduciary? 2:00 – How much are your fees? 4:13 – What is your investment philosophy? 8:51 – What will our relationship be?
10:41 12/02/2021
Ep 41: Watch Out for These Financial Half-Truths
We hear a lot of half-truths in the financial world, not necessarily because people try to make misleading statements, but because sometimes a simple statement just doesn’t quite tell the whole story. We’ll share a few examples.   Read more and get additional financial resources here: https://maestrowealth.com/2021/11/18/ep-41-watch-out-for-these-financial-half-truths/   What we discuss on this episode:  1:16 – Don’t worry about losses 6:52 – Fees in portfolio
12:28 11/18/2021
Ep 40: How Delayed Gratification Can Help Your Finances
Delayed gratification is a difficult skill to master and that’s just as true with financial matters as it is in the other areas of your life. Let’s talk about some instances where you might be faced with a choice of being satisfied now or satisfied later.   Read more and get additional financial resources here: https://maestrowealth.com/2021/11/04/ep-40-how-delayed-gratification-can-help-your-finances/   What we discuss on this episode:  0:50 – Budget vs. 401k match 4:12 – Compounding interest 6:46 – Tax deductions 10:35 – Social Security
16:32 11/04/2021
Ep 39: Insightful Quotes from Great Investors
There are some insightful quotes out there from great investors and financial authors. Let’s find out how they might apply to your financial situation.   Read more and get additional financial resources here: https://maestrowealth.com/2021/10/21/ep-39-quotes-from-great-investors/   What we discuss on this episode:  4:06 – Four dangerous words 5:43 – Worst enemy 7:45 – No risk 10:01 – Dangerous people
12:45 10/21/2021
Ep 38: Income Planning Essentials You Need to Know
Before you head off into retirement, make sure you’re well versed in these retirement income planning essentials. We’ll explain what they are and why you need to know about them.   Read more and get additional financial resources here: https://maestrowealth.com/2021/10/07/7597/    What we discuss on this episode:  0:35 – Income plan 3:28 – Social Security 6:45 – Inflation 8:52 – Bond income
11:55 10/07/2021
Ep 37: What You Need to Know About RMDs
We get a lot of questions about RMDs, or required minimum distributions. Some people don’t know anything about them, while others have misconceptions about how they work. Today, we’ll explain what you need to know.       Read more and get additional financial resources here:  https://maestrowealth.com/2021/09/16/ep-37-what-you-need-to-know-about-rmds/   What we discuss on this episode:  0:22 – What are RMDs? 3:53 – Age 72 6:27 – Get out of an RMD
12:08 09/16/2021
Ep 36: Watch Out For These Financial Advisor Red Flags
Let’s talk about some of the red flags that people can look out for when they’re shopping for a financial advisor. Have you ever met with one of these types?   Read more and get additional financial resources here: https://maestrowealth.com/2021/09/02/ep-36-watch-out-for-these-financial-advisor-red-flags/    What we discuss on this episode:  0:26 – Hammer 3:50 – Hog 5:24 – Car trunk 7:25 – Empty suit 8:32 – Non-answerer 9:50 – Just give us your money
12:36 09/02/2021
Ep 35: Most Common Retirement Mistakes
Today we’re sharing five of the most common retirement mistakes. Find out what they are and how you can avoid them.   Read more and get additional financial resources here: https://maestrowealth.com/2021/08/19/ep-35-most-common-retirement-mistakes/    What we discuss on this episode:  0:46 – Ignoring tax implications 4:04 – Social Security 6:43 – Returns instead of income 8:07 – Friends and family 11:20 – Too aggressive or conservative
14:12 08/19/2021
Ep 34: Universal Truths of Retirement Planning
No matter how much money you make, where you live or when you’re retiring, there are some universal truths that apply to everyone’s finances. Find out what they are.   Read more and get additional financial resources here: https://maestrowealth.com/2021/08/05/ep-34-universal-truths-of-retirement-planning/    What we discuss on this episode:  0:55 – Income plan 3:01 – Long-term care 5:57 – Timing stock market 8:10 – Life span
11:05 08/05/2021
Ep 33: How SECURE Act 2.0 Could Affect You
SECURE Act 2.0, son of the SECURE Act, has come out and we'll explain what has changed and how it could affect you.   Read more and get additional financial resources here: https://maestrowealth.com/2021/07/15/ep-33-how-secure-act-2-0-could-affect-you/    What we discuss on this episode:  2:03 – Required minimum age 4:04 – Reducing the penalty 4:51 – Auto enroll 5:39 – Catch up contributions 6:44 – Matching funds on student loan payoffs 7:49 – Find 401ks more easily 8:52 – Increase utilization of Roths
12:12 07/15/2021