Smart Money Questions

Building The Foundation For Success: A Conversation With Mike Ricci

It’s a different type of episode this time around, as we welcome long-time football coach Mike Ricci to the show. Mike coached football at Garnet Valley High School where he built a powerhouse football program before his retirement from the field. Now, Mike has his own business where he helps companies reach their goals as an organization much like he helped so many young people reach their goals both on and off the football field.
 
Here’s some of what we discuss in this episode:
What got Mike interested in coaching and teaching.
How was Mike able to build and maintain his principles during his 38-year coaching career.
Using the role of head football coach to help families and the community.
Laying the foundation for success.
How building success on the football field translates to success in the business world.
 
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All Eyes on Interest Rates This Month

There’s a lot of anticipation surround the Federal Reserves meeting this month, and their decision on interest rates will have an impact across many different areas of financial planning. There’s a lot going on right now that impacts the discussions we have in our office, and we’re bringing some of that to the podcast today.
Join us as we share an in-depth analysis of the current economic indicators and what they might mean for your savings, investments, and overall financial strategy. Plus, we’ll offer some guidance for anyone facing decisions about pensions and lump sum offers and make sure you understand the potential pitfalls of transferring property without consulting an estate planning attorney.
 
Here’s some of what we discuss in this episode:
Why the Federal Reserve’s meeting this month is important.
How rate cuts impact savings, investing, and retirement planning.
Does it make more sense to take monthly pension payout or take the lump sum?
How the interest rate environment impacts the lump sum opportunity.
Before you deed your home to your children, you need to speak to an estate planning attorney.
 
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Taxes, Life Insurance & Legal Documents

We always like to use this show to share some of the conversations we’re having with clients and the topics that are being discussed in our office. Today we have three important ones that have popped up multiple times recently and that’s life insurance, tax planning, and legal documents.
 
Here’s some of what we discuss in this episode:
What opportunities you might have with a life insurance policy in retirement.
Ways that you can reduce taxes and keep from paying more than you need to.  
Always being aware of the different buckets of risk is extremely important.
Which legal documents do you need to have and what should you be reviewing?
 
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The 2024 Mid-Year Check-Up

We’ve reached halftime for 2024 and it’s the time of the year when we like to check up on the finances with clients. Today we want to walk you through the conversations we’re having and the topics we’re covering in the office.
This episode is packed with both entertaining summer stories and crucial financial advice that you won't want to miss.
 
Here’s some of what we discuss in this episode:
Mid-year tax planning is important so what moves should you be considering?
Make sure wherever you are working, that you understand all of HR benefits.
How is AI going to potentially change the investing world?
 
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The Sky is Not Falling

It’s been a busy few weeks for us with a couple concerts and a trip to Florida to visit Maggie’s mom, and it was during that trip that we met someone who got us thinking about the theme for this month’s show. Today we’ll share that intriguing conversation we had with a retiree in Florida who was fearful about the future of the economy and the dollar, which sets the stage for a deeper discussion on financial planning and investment strategies.
 
Here’s some of what we discuss in this episode:
The story of a person we met on a trip who told us all about his worries for the country and why he was buying gold.
Let’s look back at the different presidencies over the last 50 years.
Fear sells and we’ve seen this story many times before.
The different assets you can diversify with if you do have concerns.
 
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Discussing Investing with a Young Client

We met recently with a young client who was just getting started and wanted to learn more about investing. They were so eager to get a jump on the finances and figure everything out.
Today we’re going to share insightful anecdotes from this recent meeting, where we talked about the underlying principles of planning, highlighting the importance of understanding risk, diversification, and keeping a long-term outlook.
 
Here’s some of what we discuss in this episode:
Investing should feel more like watching paint dry.
How you should view risk and apply that to your investment strategy.
The way we explained diversification to a novice investor.
Understand your time horizon and structure your portfolio to align with that.
What should you do with a QDRO disbursement after a divorce?
The best account options for independent contractors to use.
 
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Steps to Take if You’re 5 to 10 Years From Retirement

This week on the Smart Money Questions podcast, Matt Hausman tackles the big question: Will you be okay after retirement? With a blend of financial expertise and real-life examples, we’ll share a Wall Street Journal article outlining the financial mistakes to avoid as you get within five or ten years of retirement.
 
Here’s some of what we discuss in this episode:
You always want to have cash on hand because unexpected expenses can pop up at any time.
Maximize your retirement contributions to what your budget allows.
Understand your Social Security options, especially if you are married.
There’s good debt and bad debt, but don’t take on unnecessary debt.
You shouldn’t be investing your money as if you’re 25 or 30.
Pay attention to what you’re spending on children and grandchildren.
 
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Life Insurance Questions and Our New Location

Life insurance is a product we get asked about all the time as people are trying to determine if they need to hold on to an old policy or even bother getting one at all. We get this question all the time and there have been a couple different scenarios come up recently that we wanted to bring to the show. So we’ll address those and go through the reasoning behind what we’ve discussed with clients.
As of the end of March, we will no longer be at our current location. We are getting close to securing our new permanent location, which will hopefully be done in the next few weeks. In the interim, we’re going to be operating at 101 Lindenwood Drive in Malvern, Pennsylvania. Everything else will stay the same in terms of contacting us
 
Here’s some of what we discuss in this episode:
Scenarios where single clients do need life insurance and don’t need it.
A strategic look at the role of life insurance in income protection where age and health are key players.
The different ways life insurance could be utilized to provide income protection.
Tax considerations when you’re looking at survivorship planning.
Using life insurance to transfer wealth.
 
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The Market in Election Years

What can we expect or what has the market done with regards to returns during presidential election years? After talking with clients the first couple of months, it’s clear that this is going to be a crazy year. That’s not uncommon during election years but this one seems to be setting up for unprecedented craziness.
 
Here’s some of what we discuss in this episode:
An update on a quick trip we took to Sarasota.
Returns for every presidential term since 1928 and what it shows us.
What does it mean for retirement if you sacrifice earnings for more work-life balance?
What can you do to meet your retirement goals while also finding that balance?
The health insurance opportunities that you can take advantage of.
 
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What Can We Expect in 2024?

Everyone wants to know. What is going to happen in 2024? Join us as we explore a range of topics, from the outlook of the economy, a potential tax surprise for a lot of people, and some new provisions that will take effect this year.
We’ll give you a high-level look at what we’re paying attention to and what we’re discussing with our clients as the year begins. There’s plenty to address within your financial plan and this episode will cover a number of those things.
 
Here’s some of what we discuss in this episode:
Will the economy be up or down this year?
Is lazy money still a problem when we have high interest rates?
The 1099 interest might catch a lot of people off guard at tax time this year.
Certain provisions will take effect from the SECURE Act 2.0 this year.
Take time to look into your legal documents and make sure everything is in order.
 
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