Smart Money Questions

Tough Questions About Family Finances

We’re tackling some tough questions about family finances today. Should you kick your sister out of your deceased mother’s home? What retirement challenges could you face as the parent of a young child? Should you buy your dream home?
 
Read more and get additional financial resources here: https://wp.me/p9B077-Nt 
 
What we discuss on this episode: 
2:35 – Kick sister out?
4:37 – Get a mortgage?
5:48 – Income plan
8:12 – Retirement with young child?
9:22 – Survivorship income planning
12:08 – Life insurance
13:13 – Take out a mortgage?
16:08 – Overall investments and strategy

The Average Client & What Legal Docs You Must Have

People often ask us, “What’s your average client like?” We’ll share what traits they have and why they are successful. Also, find out what documents you must have and why you should keep them up to date.
 
Read more and get additional resources here: https://wp.me/p9B077-Nn 
 
What we discuss on this episode: 
0:30 – 20-year wedding anniversary
3:30 – Mortality and documents
7:11 – Wills
9:36 – How do I measure up?
13:02 – Gratitude
15:02 – Define your success
15:55 – The Giant Killer

How Much Money Do I Need to Retire?

Is $1 million enough to retire? That depends on a lot of factors. We’ll explain what they are on this episode.
 
Read more and get additional financial resources here: https://wp.me/p9B077-Ni 
 
What we discuss on this episode: 
4:22 – Yahoo Finance Article
6:13 – Put money to work
8:58 – Your situation
12:58 – Social Security
14:13 – Expenses
15:40 – Moving to lower tax states
17:23 – Risk
21:32 - Variables

Leaving 401k to My Child

Should I leave my 401k to my child? We get this question a lot so let’s dive into the pros and cons of leaving your children money and what strategies you can use to make sure it benefits everyone.
 
Read more and get additional financial resources here: https://wp.me/p9B077-N8 
 
What we discuss on this episode:
4:13 – Leave 401k to son?
11:53 – Should I rent or sell my aunt’s house?

Should You Take Advice From Financial Gurus?

Should you follow the advice of well-known financial gurus, such as Dave Ramsey and Suze Orman? A lot of people have asked me that question over the years. Find out what I tell them.
 
Read more and get additional financial resources here: https://wp.me/p9B077-N0 
 
What we discuss on this episode: 
4:11 – No credit cards
7:19 – Car financing
12:47 – Good debt
15:43 – Guru talk and preaching
18:53 – Will the advice work for you?

Why Business Owners Need an Exit Strategy

Today we’re talking about business owners and retirement plans. Even if you’re not a business owner, there’s something you can learn from this.
 
Read more and get additional financial resources here: https://wp.me/p9B077-MU 
 
What we discuss on this episode: 
2:25 – Discussions with business owners
5:28 – Selling your business
8:04 – Your family situation
13:00 – The tax man cometh
14:05 – Question about Roth 401k
18:19 – Question about HSA

Should You Pay Off Mortgage or Buy Investment Property

What’s the better investment strategy – pay off your primary home sooner or save up for a rental property? We’ll share the pros and cons.  
 
Read more and get additional financial resources here: https://wp.me/p9B077-MO 
 
What we discuss on this episode: 
3:33 – Pay off home or save for rental property
7:27 – What’s your budget?
9:09 – Strategy for paying off house or investing
11:55 – Real estate has become a hot, new topic
15:47 – How to help someone who is struggling financially
19:36 – Traditional savings account
20:42 – How much money are you talking about?

Planning For Long-Term Care Event

Long-term care is a subject many people don’t want to discuss, but it’s crucial that you have a plan in place. Find out why and learn about hybrid policies and paying premiums
 
Read more and get additional financial resources here: https://wp.me/p9B077-MJ 
 
What we discuss on this episode: 
3:10 – The subject no one wants to talk about
8:48 – Hybrids
12:25 – Paying a premium
14:47 – Expense policy
15:50 – Self-insured
17:13 – Premiums won’t stay stagnant

What to Know About Legacy and Estate Planning

When making your legacy and estate plan, it’s crucial to know how taxes will affect that plan. Matt explains why you want to be careful and shares some real-life examples.
 
Read more and get additional financial resources here: https://wp.me/p9B077-MD 
 
What we discuss on this episode: 
2:28 – Charities and individuals
6:00 – How much money should go to each?
9:50 – Moving to a new state
13:46 – Additional properties
16:35 – Question: What is a reasonable amount to leave as a legacy?

What to Know About the Latest COVID Stimulus Package

At the end of 2020, Congress passed a $900 billion Covid relief package. We’ll go over some highlights and what you should understand moving forward.
 
Read more and get additional financial resources here: https://wp.me/p9B077-Mu 
 
What we discuss on this episode: 
2:56 - $600 payments
6:51 – PPP loans
8:19 – Unemployment
9:08 – Social Security
10:54 – Qualifying medical expenses
13:05 – Charitable contribution benefits
14:40 – Meal expense deductions
15:32 – Student loans
16:58 – Flexible spending account
18:08 – What’s not in the stimulus package
19:35 – More on student loans