Today we’re answering your questions about long-term care options, leasing a car and Social Security. If you or anyone you know is struggling with decisions about these topics or just wants to learn more, today’s show is for you.    Read more and get additional financial resources here: http://smartmoneyquestions.com/podcastposts/episode-157-qa-about-long-term-care-car-leases-and-social-security/    What we discuss in this episode: 2:54 – Long-term care 11:05 – Car lease 15:37 – Social Security

Smart Money Questions

Q&A About Long-Term Care, Car Leases and Social Security

We’ve had many conversations with clients about the subjects we’re talking about today – paying off your mortgage early, emergency funds and how to help a surviving spouse. You’ve probably had similar questions in your own life, so let’s dive into these important topics.   Read more and get additional financial resources here:  http://smartmoneyquestions.com/podcastposts/episode-156-paying-off-a-mortgage-emergency-funds-and-surviving-spouse/    What we discuss on this episode:  2:10 – Paying off mortgage 5:23 – Emergency funds 8:38 – Surviving spouse

Paying off a Mortgage, Emergency Funds and Surviving Spouse

We read an article recently that made the argument that you need to spend more to have a better retirement. This is something we discuss with clients once they transition from working to retirement. It helps them understand that we’ve done the planning and it’s OK to spend the money. Today, we’ll explain how you can get over the fear of spending.    Read and get additional financial information: https://smartmoneyquestions.com/podcastposts/fear-of-spending-money/   What we discuss:  3:22 – Spend more money 5:17 – The fear 8:43 – Three areas of budgeting 11:39 – Spending years 13:21 – Investments and distribution  

The Fear of Spending Money in Retirement

Today we’re answering questions we received from listeners and clients. Up first, a woman wants to take out a loan to start a cake business. Where should that money come from? And finally, do we agree with Dave Ramsey’s advice about not investing while in debt?   Read more and get additional financial resources here: http://smartmoneyquestions.com/podcastposts/episode-154-qa-starting-a-business-and-dave-rameys-advice/    What we discuss on this episode:  3:12 – Starting a business 9:18 – Dave Ramsey advice

Q&A: Starting a Business and Dave Ramey’s Advice

On today’s episode we’re talking about accumulation versus decumulation. People are used to saving money for retirement, but are you prepared for what happens when you actually retire?   Read more and get additional financial resources here: https://wp.me/p9B077-O6    What we discuss on this episode:  4:42 – Accumulation vs. decumulation 7:23 - Stocks 10:02 – Budgeting 11:42 – Risk buckets 16:32 – Disability insurance 18:01 – Life happens

What to Know About Aculation vs Deulation

Rick recently wrote in and wanted to know if he should downsize his house. He has an emotional attachment to it, so it’s a tough decision. We’ll walk you through the decision-making process in tough deliberations like this.   Read more and get additional financial resources here: http://smartmoneyquestions.com/podcastposts/episode-151-should-i-downsize-my-house-in-retirement/    What we discuss on this episode: 0:57 – Protecting your personal information 3:54 – Downsize? 7:33 – Own or rent? 8:37 – Client was done with homeownership 10:37 – Taxes 11:50 – Coming to conclusions 14:04 – Answering questions

Should I Downsize My House in Retirement?

Today we’re talking about 401ks versus pensions. Would you rather get a lump sum now or monthly payments over many years? Deb in New Jersey needs our help answering that very question.   Read more and get additional financial resources here: https://wp.me/p9B077-NU    What we discuss on this episode: 2:08 – Beneficiaries 8:07 – SECURE Act 12:10 – 401ks and pensions 15:30 – Premature death and pensions

Should I Take Half of My Ex’s 401k or the Pension?

On today’s episode we’re talking about a couple conversations we’ve had with clients in Seattle, Wash. and some recent changes that have been put in place. In 2019, the state approved a new payroll tax that is 100% paid by the employee, the first of its kind in the entire country.   Read more and get additional financial resources here: https://wp.me/p9B077-NN    What we discuss on this episode:  2:28 – New Washington tax 5:24 – What’s the benefit? 7:16 – Opt out 8:36 – What are they telling you? 11:48 – The feds 15:40 – Mailbag: Worried about kids

State of Washington’s New Payroll Tax is One to Watch

Today’s episode is a little different. We’ve started doing recorded webinar workshops on certain topics, and we’re doing a replay on this podcast. Today’s episode is about President Joe Biden’s proposed tax increases.   Read more and get additional financial resources here: https://wp.me/p9B077-NH    Watch our webinar replay on Biden's proposed tax increases: https://oldsecuritygroup.wistia.com/medias/wjbs6uts7k   What we discuss on this episode:  5:59 – How to prepare 7:40 – Current tax code 11:30 – Taxing your assets 16:02 – What can we do? 19:05 – Roth conversions 22:01 – Real estate 23:56 – Tax increases

What to Know About President Biden’s Tax Proposal

We’ve had a couple clients recently who decided to retire earlier than planned. We’ll explain how we helped them, even with very little time to prepare, and how you could handle a similar situation.    Read more and get additional financial resources here: http://smartmoneyquestions.com/podcastposts/episode-148-how-to-handle-an-unplanned-retirement/    What we discuss on this episode:  6:12 – Health care 10:18 – Last paycheck 13:18 – Proactive tax planning 18:57 – Investing 20:25 – How you will be paid

How to Handle an Unplanned Retirement

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

Tough Questions About Family Finances

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

The Average Client & What Legal Docs You Must Have

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

How Much Money Do I Need to Retire?

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?

Leaving 401k to My Child

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?

Should You Take Advice From Financial Gurus?

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

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Smart Money Questions

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