Smart Money Questions

Social Security COLA and Timing

Choosing when to claim Social Security can have a huge impact on your retirement plan. A lot of people are unsure about whether they should delay Social Security or take advantage of another significant COLA increase. Today we are going to look at some of the different options you may have and narrow down the reasons they may or may not be for you.
 
What we discuss in this episode: 
Do you time the market or do you time Social Security? (2:21)
Do you qualify for spousal benefits? (5:28)
Social Security has a guaranteed interest rate for delaying. (7:31)
If you are going to delay Social Security and not work, what other assets are you going to depend on? (10:29)
 
For more, visit us online: https://smartmoneyquestions.com/ 

Money Marketing Headlines

We’re bombarded with headlines about money all the time. With technology and social media at our fingertips, it’s more important than ever to control how you react to that. We’ll explain why it’s critical to your long-term financial success.
 
What we discuss on this episode: 
2:10 – Financial headlines are everywhere
5:10 – Invest like the 1%
6:08 – Become a master of the market
8:37 – Protect nest egg
9:31 – Playing on fear
 
For more, visit us online: https://smartmoneyquestions.com/ 

Funding Retirement Accounts with Commissions & Where Else To Invest

Recently, we’ve been getting some unique questions about investing in company-sponsored plans, like a 401k, for example. The client wanted to know where else to invest once they max out the 401k. We’ll dive into this question and more on today’s show.
 
What we discuss in this episode: 
2:23 – Max out 401k
4:53 – Be consistent
5:44 - Match
8:04 – Vested
9:49 – Saving more
11:38 – Health insurance
14:34 – Traditional brokerage
 
Visit us online: http://smartmoneyquestions.com 

Difference Between W2 and 1099 Workers in Retirement

If you decide to scale back your work or keep working during retirement, what kind of employee should you be? We’ll explain the differences between W2 and 1099 workers and how that could affect your finances.
 
Key Topics on This Episode: 
4:50 – Scaling back workload
6:24 – W2 vs. 1099 worker
9:39 – Contributions
11:38 – Payroll taxes
13:48 – Buying real estate
16:18 – Property management
17:22 – Where to buy
18:50 – Long-term investment
 
Want to learn more about financial planning? Visit us online ---> http://smartmoneyquestions.com  

Client Money Questions - 401ks, Risk and Rate of Return

Today we’re sharing questions and scenarios we’re hearing in our office, on the phone and on zoom calls with clients. We’ll also share some planning we did for a client four or five years ago and where they are today in retirement.
 
Key topics on this show:
4:43 – Aggressive 401ks
7:59 – Other options
11:00 – Know where your money is
13:51 – Risk
15:29 – Rate of return
16:27 – COLA
 
Want to learn more about financial planning? Visit us online ---> http://smartmoneyquestions.com  

Mid-Year Financial Review Checklist

It’s hard to believe, we’re already halfway through 2022. Before you know it, it’s going to be Thanksgiving and then the end of the year. Now is a good time to be considering your finances and planning for your taxes.
 
Key topics on this episode: 
2:42 – Roth conversions
6:13 – Personal changes
8:19 – Review investments
10:11 – Tax diversified
11:09 – Review debt
12:59 – Budget
14:02 – Emergency funds
14:32 – Legal documents
 
Get additional resources online: http://smartmoneyquestions.com 

What Opportunities Are Available When Markets Are Down?

The markets have been heading down, but this is one of the most critical times for investors to stay disciplined. Markets will go up and they will drop, and we’ll explain why you have to be prepared to stay the course and find opportunities.
 
Read more and get additional financial resources here: http://smartmoneyquestions.com 
 
What we discuss in this episode:
3:35 -  Don’t panic
4:14 – Tax-loss harvesting
5:51 – Tax buckets
8:46 – Roth
12:00 – Your investment mix

Target-Date Funds and Leasing vs. Buying A Car

Is your 401k invested using target-date funds? If so, you could be getting hit harder during these tough economic times. We’ll explain why. We’re also talking cars in this episode and our thoughts on leasing versus buying a new or used car.
 
Read more and get additional financial resources here: http://smartmoneyquestions.com 
 
What we discuss in this episode: 
3:20 – Wall Street Journal
9:38 – Investment options
12:14 – Leasing vs. buying cars
13:32 – Coming to the end of a lease
16:32 – Buying a car

Retirement Statistics: How Do You Measure Up?

A recent study found that the average American needs to save $1.04 million for a comfortable retirement. That’s one of the many fascinating statistics shared in the study. Join us as we share more of the findings and talk about how most retirees stack up.
 
See the statistics: https://www.annuity.org/retirement/retirement-statistics/ 
 
Read more and get additional resources here: http://smartmoneyquestions.com 
 
Listen for these key topics: 
2:37 – Savings expectations
7:15 – Delaying retirement
9:41 – Increasing savings
10:16 – Social Security
14:07 – Health care
15:26 – Where will you live?

Should You Pay Off Debt With a 401k Loan?

Should you take out a 401k loan to pay off your debt? And does it matter what the kind of debt is? Today we’re going to tackle this common question and more to help you figure out your finances. 
 
Read more and get additional financial resources here: http://smartmoneyquestions.com 
 
Listen for these key points: 
2:20 – 401k loans
5:16 – Exhaust other options
10:05 – Selling property