Smart Money Questions

Year-End Financial Planning Tips

As 2020 comes to a close, now’s the time to do some financial planning. Matt has some important topics you should cover with your advisor. We'll also spend talk some about first-time homebuyers and how to approach your mortgage.
 
Read more and get additional financial resources here: https://wp.me/p9B077-Mo 
 
What we discuss on this show: 
2:53 – Maximize 401k
4:55 – CARES Act
6:35 – RMD charitable contribution
9:04 – Deductions on Schedule A
11:25 – Pull money out of the IRA?
13:25 – Tax credits
16:26 – First-time homebuyers
17:58 – Find a good Realtor

Investment Decisions Going into 2021

After a long year in 2020, many of us want to make sure 2021 starts off right. On this episode of the podcast, Matt answers several questions from listeners and clients when it comes to making wise investment and financial decisions in the new year.
 
Read more and get additional financial resources here: https://wp.me/p9B077-Mk 
 
What we discuss on this show: 
3:36 - How can I avoid market volatility but still save for retirement?
9:32 - Do you understand how Social Security works?
13:27 - Should you refinance when close to retirement?
20:46 - What’s your opinion on flipping houses as an investment strategy?
22:33 - What are the tax implications?

Listener Questions - Reverse Mortgages and Helping a Widowed Parent

 
We’re talking about two important topics today: Are reverse mortgages a bad idea? And how can I help my widowed parent with their finances?
 
Read more and get additional resources here: https://wp.me/p9B077-Me  
 
Learn more about reverse mortgages: https://smartmoneyquestions.com/podcastposts/episode-93-harlan-accola-behind-the-curtain-of-reverse-mortgages/ 
 
What we discuss on this show:
2:56 – Are reverse mortgages a bad idea?
6:35 – Different types of reverse mortgages
9:08 – Can we get kicked out of our home?
13:03 – How to help a widowed parent
14:49 – Look at beneficiaries
16:01 – Do you see any life insurance?
17:46 – Look at parent’s living arrangement
18:36 – Matt talks about is father’s passing
20:04 – Are liabilities joint or just in one parent’s name?

Top Places to Retire and How They Affect You Financially

U.S. News & World Report has released its list of the top places to retire in the country. Choosing where to retire is not only a personal decision; it’s also a financial one. We’ll explain why.
 
Read more and see the full list of cities here: https://wp.me/p9B077-M8 
 
What we discuss on this show: 
2:26 – How were places ranked?
3:15 – Top 15 places to retire
4:40 – Consider housing affordability
7:03 – Consider renting before buying
9:50 – Consider changing residency
12:12 – Consider doing a financial exercise
13:43 – Consider the emotional side

An Update on Maggie’s Health and What to Know About Medicare

This week marks an important milestone in Maggie’s journey with cancer. We’ll give you an update about her health. We’ll also discuss Medicare and help you understand it better.
 
Read more and get additional financial updates here: https://wp.me/p9B077-LW 
 
What we discuss on this show: 
0:41 – Maggie’s 5-year mark after cancer diagnosis
6:45 – What do I need to know about Medicare?
8:16 – Traditional Medicare
11:38 – Medicare Part D
13:39 – Medicare supplements
15:13 – Husband’s health coverage options
17:22 – Obamacare
20:07 – Listener question: Should I give inheritance money to my son?
23:24 – Listener question: How reliable is my 401K income estimate?

Election Worries & Steps to Saving for Retirement

There’s no doubt that election concerns are on the mind of many people right now, especially as it relates to their financial portfolio. We’ll start the show by addressing these election cycles worries by looking back at what history has shown us. From there, Matt will talk about a call he had with someone recently that wanted to get their retirement on track. He’ll take you through the essential steps that need to be taken to get your financial house in order.
 
Read more and get additional financial resources here: https://wp.me/p9B077-LF  
 
What we discuss on this show:
0:44 – Many people worried about the upcoming election cycle.
4:19 – What is going to happen with the market? Here’s what history tells us.
9:44 – The steps we suggest you take if you’re concerned.
11:59 – A conversation we had last week with someone curious about how they were doing financially.
13:12 – 3 parts to building a budget
14:58 – Understanding your debt.
17:59 – Have an emergency fund
20:31 – Financing a home that you hope to buy
22:07 – Investment options
25:38 – Real estate investing

Update On CARES Act and 401k Fees

We get a lot of questions about the CARES Act and 401k fees. Here's how they work and what you need to know.
 
Read more and get additional financial resources here: https://wp.me/p9B077-Lx 
 
What we discuss on this show: 
2:49 – Questions about CARES Act, 401K fees
5:19 – CARES Act
9:04 – Qualified individual
12:36 – IRA withdraws, RMDs and charitable distributions
15:18 – Roth conversions
18:06 – Qualified charitable distribution
20:23 – Qualified retirement accounts

Let’s Talk About Retirement, Market Swings and Election Fears

Between the coronavirus, market swings and upcoming election, people have been calling our office with all kinds of investment and retirement questions and fears. Let’s talk about some of these common concerns. 
 
Read more and get additional financial resources here: https://wp.me/p9B077-Ln 
 
What we discuss on this episode: 
3:00 – Get serious about financial planning
8:22 – Don’t make emotional, fearful decisions
12:03 – How are you going to pay for health care?
15:22 – Which account should I withdraw from first?
19:44 – Where are we putting our investment monies?
21:44 – How to contact us

Mortgage Expert Lindsey Johnson Discusses PMI and Future of Real Estate

Did you know that more than 80% of all first-time homebuyers last year put less than 20% down on their homes? Mortgage expert Lindsey Johnson tells us about private mortgage insurance and what changes the mortgage and real estate industries may see.
 
For more information, visit https://www.lowdownpaymentfacts.com/ and http://www.usmi.org/.
 
Read more and get additional resources here: https://wp.me/p9B077-Lh 
 
About our guest: http://www.usmi.org/lindsey-johnson-usmi-president/ 
 
On today's show: 
0:29 – Meet Lindsey
1:20 – Her background
2:32 – What is private mortgage insurance and how does it work?
4:47 – Is PMI part of the complicated mortgage process?
9:37 – Does PMI automatically come off at 20%?
14:18 – Should buyers be speaking to multiple lenders?
15:49 – How will COVID-19 impact real estate, mortgage and insurance industries?
21:35 – Will rates go up as fast as they came down?
23:30 – Are any changes coming in the real estate and mortgage industry?
34:03 – Should there be underwriting metrics?
34:55 – Why does the mortgage process seem so complicated?
37:02 – Demographics, rates and inventory
39:00 – Helpful websites
On today's show: 
 
 

A Chat With Walter Storholt of Third Wheel Media

You may recognize his voice. Now, get to know more about Walter Storholt, our friend and former co-host who runs Third Wheel Media. How has the pandemic affected his business? What is the future of podcasting and media? And what is his dream job?
 
Read more and get additional financial resources here: https://wp.me/p9B077-L7 
 
About our guest: https://www.thirdwheelmedia.com/ 
 
On today's show: 
0:29 – Introducing special guest Walter Storholt
2:20 – What is Third Wheel Media?
3:18 – Why working from home has worked out well
6:00 – The story of Walter’s house purchase and renovations
10:44 – How locals are embracing working from home
12:00 – What business owners think about remote work
18:56 – Does Third Wheel Media do TV?
22:16 – The future of media
24:15 – A diversity of voices
26:43 – Local versus national media
29:55 – Social interaction during a pandemic
32:52 – Businesses doing more regional work and Walter’s dream of reading an audio book