Smart Money Questions

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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Email - info@smartmoneyquestions.com
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Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

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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Small Business Planning and the Purpose of Money

We’re coming down to the final few days of 2023 and we hope you have all enjoyed a good holiday season. As we close out the year, we wanted to go over a couple of client conversations we had recently dealing with small businesses and the power of money.
 
Here’s some of what we discuss in this episode:
How should business owners balance saving for retirement and putting money back into the business?
What are some consistent financial habits you can create as a business owner?
Reviewing opportunities for Roth conversions.
Managing an inheritance and how to pass it along to your children.  
 
Want to contact us?
Website - https://smartmoneyquestions.com/
Email - info@smartmoneyquestions.com
Set up a time to talk – http://SpeakWithMatt.com    
Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

Putting Your Extra Cash to Work

It’s hard to beat this time of the year with the holidays and everything that comes along with it, and we hope that you enjoyed a wonderful Thanksgiving. We have a lot to be thankful for and hope you do as well when you look back on this year and what’s to come in 2024.
Today we want to go over a couple of meetings we’ve had recently with clients who had needed to address some specific scenarios. In each of these scenarios, we’ll share the process we went through and the different options we considered before helping them determine the best path forward.
 
Here’s some of what we discuss in this episode:
What should you do with the extra money each month once your mortgage is paid off?
Why it might make more sense to pay off your mortgage now if you have the extra cash.
Changing from a joint tax filing to a single filer and is it worth staying in a marriage for.
 
Want to contact us?
Website - https://smartmoneyquestions.com/
Email - info@smartmoneyquestions.com
Set up a time to talk – http://SpeakWithMatt.com    
Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

What You Need to Know About 2024 Open Enrollment

As we close in on the final two months of the year, there’s a lot happening now and plenty to look ahead to for 2024. That’s what we want to spend some time on today by sharing some of the discussions we’re having in our office and some of the questions we’re answering from clients in this final quarter of the year. This includes open enrollment, world conflicts, and financing a new home.
 
Here’s some of what we discuss in this episode:
The different open enrollments and what you need to know.
Understanding the different parts of Medicare.
Does the market overreact to world conflicts?
Working through a situation with clients about moving into a new property.
 
Want to contact us?
Website - https://smartmoneyquestions.com/
Email - info@smartmoneyquestions.com
Set up a time to talk – http://SpeakWithMatt.com     
Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/