Smart Money Questions

Weekly investing and financial planning wisdom seeking to provide answers to your financial questions with your host, Matt Hausman.

Changes To Retirement Planning

Posted by smartmoneyquestions in COLA, finances, Social Security, retirement, advisor

Recently, there was a COLA increase of 1.6% for Social Security benefits. Matt will give his thoughts on the long term benefit of having a COLA increase, even though the percentage may not seem impressive at first. We will also discuss why working past age 65 is not so uncommon anymore and the importance of mapping out a plan with how you would like to spend your time in retirement.

Show Notes and Additional Resources:

Working Past 65 Article:

Retiring Abroad Article:


2:57- Learn how the COLA increase has a better long term benefit than you think.

5:00- Collecting Social Security early and how the increased income threshold could affect you. 

7:03- The IRS changed the contribution limits to qualified retirement accounts. 

9:44- The SECURE was passed and significant changes were made that will affect retirement planning. 

11:28- The implementation of the 10 year rule so could create new tax obligations for those who are affected. 

14:54- Find out why working past 65 is becoming more common.

17:40- What does an ideal retirement look like according to this client?

20:40- Matt explains what questions need to be answered before retiring abroad. 

Establishing Residency In A New State, Pension Problems & Consolidating Accounts

Posted by smartmoneyquestions in pensions, Social Security, Taxes, advisor

Today's episode will look at how you could possibly establish residency in a different state as part of your tax planning. We will also answer questions regarding what to do when you have a pension with no survivor benefit and how to consolidate your retirement accounts.

Show Notes and Additional Resources:



Today's Rundown:

0:28- Bring on the new year and take us back to Y2K.

4:11- A women in California died but was still enrolled in a cable contract leaving the early termination fee to her kids. 

5:30- President Trump changed his residency from New York to Florida which raises the question, should you consider this too?

6:20- Lets look at how tax planning can help determine where you should establish residency. 

7:23- How does income and estate tax factor into the planing?

10:15- What other factors should be considered before making the move?

11:07- The importance of sponsorship planning. 

12:30- What do when you will be receiving a pension. 

14:05- What can be done after a pension plan has been chosen. 

21:00- Why your accounts should be consolidated and how to organize them. 

23:55- A look at better organized accounts after consolidation. 

Want to Know How We’re Investing Our Money?

Have you ever stopped to think about what your financial advisor invests in? You get a lot of advice and guidance but do they actually follow their own suggestions? We’re going to pull back the curtain and tell you how we manage our entire portfolio for the three businesses.


Show Notes:


Today's Rundown: 

0:34 – What we’re doing on today’s show.

1:10 – In the news: Local Pennsylvania couple facing a felony charge after spending more than $100,000 that was accidentally deposited into their bank account.

1:59 – This came up in my office recently from a client: I read an article that suggested I ask my advisor what they invest in.

2:47 – So today, I want to go through this question and discuss everything we are involved with in our office.

5:56 – Where is our emergency fund.

6:44 – Our tax money is also sitting in another bank account.

7:17 – We also have money invested in our three companies.  

8:54 – Let’s talk about investable assets. First our Health Savings Account.

10:55 – Maggie and I also put money away into an after-tax brokerage account that is invested in the same funds that I advise clients to invest in.

13:01 – We have established a company 401k plan, both traditional and Roth.     

15:27 – After investable assets, here’s what else we have. Our legal documents are in place and recently updated.

18:18 – On a quarterly basis, we review the financials of each firm.

18:56 – Looking at tax-planning opportunities as well.

19:58 – This is a look at what we’re doing and how we’re doing it.

21:23 – You might not be a business owner but hopefully you can get a better idea of what you should be considering.


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