Smart Money Questions

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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Website - https://smartmoneyquestions.com/
Email - info@smartmoneyquestions.com

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.
 
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 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.
 
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/

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/

What You Missed at Our Educational Event

Last month, we held an educational event and covered a lot of important information. We even featured estate attorney Jennifer Walker, who talked about the estate planning do’s and don’ts. It was a great event and we appreciate everyone that came out.
Because we went over a list of key planning items for the year, we wanted to provide all of that information and education for you on the podcast. So this show will be go over all of that today, which should be very helpful for anyone thinking about what they need to do before the year ends.
 
On today’s show, here’s some of what you’ll learn:
We’ll go over the recently signed SECURE Act 2.0 and the impact it has on inherited IRAs, catch-up provisions, RMDs, and retirement account opportunities.
The estate do’s and don’ts that Jennifer Walker shared with us.
The current tax code will sunset in the end of 2025. We’ll tell you why there’s a good chance your taxes will go up.
The current investment climate this year and what it might look like moving forward.
 
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/

Mid-Year Financial Check-Up – Items to Assess

As we move beyond the mid-point of the year, we always take this time to have a check-up with clients to run through a number of items that might need attention before the end of the year. Today we’ll share a few of those things, including budgeting, Roth contributions, and SECURE Act 2.0 changes.
Then we’ll spend some time running through a few different scenarios we’ve helped clients out in recent weeks. 
 
On today’s show, here’s some of what you’ll learn:
Is a Roth IRA or Roth 401k actually a bad investment option? Let’s breakdown a recent article we found.
A list of items to be paying attention to before the end of the year.
Is it a good idea to help out your child and their boyfriend/girlfriend with a house down payment? Here’s what you should address.
Should you keep your mortgage in retirement for the tax deduction?
The financial topics that create tension for couples.
 
Want to contact us?
Website - https://smartmoneyquestions.com/
Email - info@smartmoneyquestions.com
Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

What We’re Paying Attention to This Summer

Hard to believe we’re already into July but we’ve had a great summer so far. Hopefully you’ve been making the most of the warm weather and longer days. Today’s episode isn’t a long one but we wanted to take a little time to update on what’s going on at Old Security Group and talk about some of financial topics we’ve been paying attention to.   
 
On today’s show, here’s some of what you’ll learn:
Details on our upcoming client educational event (1:04)
We’ve been hearing from people about investment scares  (5:46)
Why an HSA is considered a hidden gem in investing.  (8:17)
2 ways we advise clients to use an HSA  (10:51)
How to invest when worried about a recession (14:19)
 
Want to contact us?
Website - https://smartmoneyquestions.com/
Email - info@smartmoneyquestions.com
Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

Talking Finances With My 21-Year-Old Daughter

Today we have a special guest. My 21-year-old daughter Ashley and I have been talking about doing this interview for several months. We want to share the importance of personal finance and personal finance education. My wife and I constantly talk to our kids about this topic, including behavioral finance, so we are excited to share this episode with you! 
 
On today’s show, here’s some of what you’ll learn:
What has Ashley been doing the past few years? (2:23)
How Ashley budgeted her money. (6:03)
How Ashley started investing. (10:56)
 
Want to contact us?
Website - https://smartmoneyquestions.com/
Email - info@smartmoneyquestions.com
Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/