Smart Money Questions

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

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