The SECURE Act, when rolled out in 2020, was some of the most significant retirement legislation in years, but the government is already discussing further changes. Let’s run through the list of proposals and find out how they might impact planning in the future.   Read more and get additional financial resources here: https://www.moneyandclarity.com/2021/07/ep-166-secure-act-2-0-what-you-need-to-know/    What we discuss on this episode:  1:02 – Summer update 2:55 – Background on the SECURE Act 3:46 – RMD age increase even further 6:17 – Auto-enroll into 401k 8:00 – Catch-up contributions could increase 10:11 – Matching contributions on student loan payments 12:18 – National 401k database 

Solving the Financial Puzzle

Ep 166: Secure Act 2.0 - What You Need to Know

The statements we’ll run though on the show today are basic common sense that nearly everyone would agree with, but our behave often doesn’t line up. Today look at these straight-forward approaches and explain what keeps us from following them.   Read more and get additional financial resources here: https://www.moneyandclarity.com/2021/06/ep-165-learning-through-uncommon-sense/    What we discuss on this episode: 0:55 – Life without masks 4:22 – Buy Low and Sell High 6:59 – Don’t pay more in taxes than you have to 9:39 – Keep costs low 11:59 – Don’t put all your eggs in one basket   14:03 – Market timing is virtually impossible

Ep 165: Learning Through Uncommon Sense

On today’s show, we’re going to be talking about financial planning in President Biden’s America. We’re past his 100th day in office, so let’s take a look at the impacts in financial planning and the markets.   Read more and get additional financial resources here: https://www.moneyandclarity.com/2021/05/ep-164-financial-planning-in-bidens-america/    What we discuss on this episode:  3:17 – Taxes 7:50 – Infrastructure 14:15 – Capital gains 17:37 – Climate

Ep 164: Financial Planning in Biden’s America

Comprehensive planning takes care of every aspect of retirement, but without it there are areas that could quickly become a calamity. Today we’ll identify five key areas where people don’t pay enough attention and end up flirting with disaster.   Read more and get additional financial resources here: https://www.moneyandclarity.com/2021/04/ep-163-flirting-with-financial-disaster/   What we discuss on this episode:  2:24 – Out of date legal documents 7:21 – Incorrect beneficiaries 10:15 – Ticking tax time bomb 14:43 – Long-term care expenses 19:12 – The 60/40 portfolio

Ep 163: Flirting with Financial Disaster

If you’re getting prepared to file your 2020 taxes and looking ahead to the changes that might be coming this year and beyond, we’ll run through some of the key items from a very unique and challenging last 12 months.   Read more and get additional financial resources here: https://www.moneyandclarity.com/2021/02/ep-162-tax-tips-for-2021/    What we discuss on this episode:  1:45 – Stimulus payments 5:31 – Tax brackets 7:55 – Extra deductions for charity 10:36 – Required Minimum Distributions 12:55 – Home office deductions 15:14 – Filing advice 17:54 – State specific changes 18:34 – How our team assists with tax planning

Ep 162: Tax Tips for 2021

As we kick of the new year, let’s talk about what statistics tell us about retirement. We found five specific stats that will surprise you and make you realize that financial planning needs to be a priority in 2021.   Read more and get additional financial resources here: https://www.moneyandclarity.com/2021/01/ep-161-5-important-retirement-statistics-worth-your-time/    What we discuss on this show:  1:51 – Have clients been nervous about the start to 2021? 3:10 – Breaking down five important statistics 3:52 – Only 17% of American workers are confident they’ll have enough in retirement. 7:30 – The average 65-year-old woman has an average life expectancy of 20.7 more years. 9:28 – Some issues that come up for women later in life 12:30 – 16.5% of country is over age of 65 17:09 – The average retiree will spend $295,000 on out-of-pocket medical expenses during retirement. 21:57 – 90% of people over 60 say a written plan is important but only 20% have one.

Ep 161: 5 Important Retirement Statistics Worth Your Time

Dan Cuprill is back on the show today to help us sort out the economic impact the election will have as we move into a new year. With talk of the Green New Deal, student debt forgiveness, and tax changes, we’ve gotten a lot of questions about what’s next for investors. Today we’ll try to ease your mind and provide some clarity.   Read more and get additional financial planning resources: https://www.moneyandclarity.com/2020/12/ep-160-economic-outlook-following-the-election/    What we discuss on this show:  0:42 – Dan Cuprill back with us today 2:13 – What does the election mean for investors right now? 7:15 – Dan’s advice to everybody 9:04 – Unexpected bad news is what impacts the market 11:56 – Over time it doesn’t really matter 13:31 – This is why diversification is so important 14:33 – Possible economic policies of new administration 18:16 – Preparing for increased taxes 22:00 – What can we be doing right now as investors? 23:48 – Dan’s outlook for 2021 25:50 – Stay positive 26:57 – How to discuss further with Dan

Ep 160: Special Election Review

Much like technology becomes outdated each year, retirement planning strategies begin to lose their effectiveness over time. Today we’ll look at five different planning ideas that have been used quite a bit before but might not have the same impact in today’s economy and market conditions.   Read more and get additional financial resources here: https://www.moneyandclarity.com/2020/09/ep-159-obsolete-retirement-planning-ideas/    What we discuss on this show:  3:09 – Let’s start with the 4% Rule 6:55 – The 10-5-3 Rule   8:40 – Move from stocks to bonds as you get older 11:20 – Get to $1 million in your retirement account and your ready for retirement.   13:17 – You’ll need less income in retirement than you needed while working.   15:56 – What’s the process for someone wanting to meet and work on these items?  

Ep 159: Obsolete Retirement Planning Ideas

Like it or not, there are certain financial challenges that women are more prone to face. Why is that? What can you do about it?   Read more and get additional financial resources here: https://www.moneyandclarity.com/2020/08/ep-158-what-financial-challenges-do-women-face-more-often/    On today's show: 1:06 - What financial issues are particularly challenging for women? 1:47 - What level of engagement do most women have in their financial plan? 4:06 - Why do so many retired women find themselves in difficult financial situations? 6:15 - What specific challenges are faced by widowed women? 7:39 - What should a husband do to prevent a mess being left behind for his wife? 8:44 - How has Nikki helped women facing retirement and financial stress alone?

Ep 158: What Financial Challenges Do Women Face More Often?

We often find that people are clinging to certain ideas or beliefs that end up giving them a sense of false hope about their retirement. It’s a dangerous position to be in. Let’s explore some of the faulty thinking that ultimately leaves people underprepared for retirement.   Read more and get additional financial resources here: https://www.moneyandclarity.com/2020/07/ep-157-retirement-ready-are-you-clinging-to-false-hope/    Today's show schedule:  0:56 – How’s life in Ohio right now? 2:48 – What we’re talking about today. 3:36 – The mindset that you’ll be ready to retire when you hit a certain number. 8:15 – Belief that your income needs are going to decrease when you retire.  10:40 – Assuming that an inheritance will make up for any shortfalls in retirement. 13:27 – You’re going to ‘just figure it out’ in retirement.    14:23 – Assuming that the income estimate on our 401k statement is accurate.  16:53 – Take us through the Money & Clarity for crafting a plan. 

Ep 157: Retirement Ready – Are You Clinging to False Hope?

Maybe you know you need to contribute somewhere or you’ve always contributed to a traditional IRA but have been wondering about the Roth. Nikki explains the similarities and differences between the two and explains the long-term benefits. Show Notes & Resources: https://www.moneyandclarity.com/?p=27798 Timestamps: 1:11 - Nikki shares what her family is up to. 2:39 - There are a lot of differences between the traditional and Roth IRA. 4:00 - When you pay taxes on the Roth IRA and why that matters. 4:40 - What do the Roth IRA and traditional IRA have in common? 6:43 - Why have people have contributed to traditional IRAs instead of a Roth IRA? 9:13 - Why can a Roth IRA be so powerful? 11:34 - When is a Roth IRA a better choice? 12:48 - When should you contribute to a traditional IRA? 14:31 - Your advisor should be able to help determine which is best every year.

Ep 156: Choosing Between A Traditional Or Roth IRA

As investors, we’re always looking out ahead towards our goals in retirement so we’re constantly striving to move forward. But doing that can lead to us forgetting about the importance of managing what we already have. Let’s look at the important assets in our portfolio that might get overlooked and why it’s important to be evaluating your positions.   Read more and get additional financial resources here: https://www.moneyandclarity.com/2020/05/ep-155-are-you-paying-enough-attention-to-your-largest-assets/    Today's show schedule:  0:59 – How is Nikki dealing with the pandemic.  2:37 – Maybe the most overlooked thing is an old 401k. 3:25 – A surprising stat that shows we’re not in tune with our investments. 6:04 – Your house and considerations you should be making about this asset. 8:57 – Social Security - what should you be thinking about here? 11:21 – Improving your future savings potential 13:28 – Should you combine your smaller accounts? 15:09 – Diversifying is important but many times clients aren’t overlapping investments. 16:32 – How does Nikki and the team help clients manage these investments?

Ep 155: Are You Paying Enough Attention to Your Largest Assets?

Over the past month, we’ve seen financial markets react to potential economic fallout from the coronavirus pandemic and it’s happened at an unprecedented pace. But how surprised should we be by this significant reaction? Dan Cuprill joins the show as we talk about the lessons we’ve learned from history, what this latest crash has taught us, and where we might go from here financially.   Read more and get additional resources here: http://moneyandclarity.com    Today's rundown:  0:46 – We’re joined by Dan Cuprill once again. 1:22 – Every 100 years there seems to be a new pandemic. 2:32 – This is affecting us all in many different ways but it’s taught us one important lesson. 5:11 – You can use history to see how markets react. 6:38 – Be calm because this is typically an investing opportunity. 7:44 – Bad news happens but you have to ask yourself this question to determine how markets will react. 8:15 – Watching cable news 24/7 isn’t going to help anybody. 10:12 – Panic starts to set in and trying to time the market will really hurt you.  12:39 – Here’s what concerns Dan within the industry. 14:49 – This is where good financial advisors earn their keep.  15:59 – How does Dan see this playing out over the next few months. 18:11 - Don’t make actions that turn out to be irrevocable in hurting you. 19:41 - A deal to make with your grandchildren. 21:21 - Over a period of time this will look normal, which is why you stick to a plan.

Ep 154: Is The Market Response To Coronavirus Normal?

No one could predict how much of an impact the coronavirus would have on the market, but it’s been a rough month for everyone. Nikki will share her thoughts on this unprecedented time and talk about the conversations they’re having around the office. With all the speculation and uncertainty, now is a great time to revisit the financial truths that should be guiding your financial planning.   Read more and get additional resources here: https://www.moneyandclarity.com/2020/03/ep-153-coronavirus-and-solid-financial-truths/    Today's rundown:  0:53 – It’s an unprecedented time in the world right now. 2:45 – The economic side of the Coronavirus has already had a huge impact on many people. 4:34 – Everything has happened so quickly and unexpectedly. 6:36 – What conversations are happening in the office right now with clients? 9:53 – Let’s shift to our main conversation on solid financial truths. 10:38 – The first truth: TV can be our biggest enemy. 13:46 – The second truth: You rarely make good financial decisions when you act emotionally.   16:53 – The third truth: The market always moves in cycles. 18:40 – The fourth truth: You aren’t as risk tolerant as you think you are. 20:43 – The fifth truth: There’s no magic bullet. 22:53 – Nikki shares a message to listeners regarding the current state of the market.

Ep 153: Coronavirus and Solid Financial Truths

After a short break, the podcast is back with some news! Dan Cuprill has handed the baton to Nikki Earley and she’s taking over the show moving forward. Today we’ll introduce you to the Certified Financial Planner and get to know who she away from the office. We’ll also talk about the future of the show as we make the transition to a new host.   Check out the show notes and get additional resources here: https://www.moneyandclarity.com/2020/02/ep-152-meet-the-new-host-nikki-earley/    Today's show rundown:  0:57 – The podcast might sound a little different today as Nikki Earley is taking over hosting duties from Dan Cuprill. 2:03 – Nikki updates news from around the office and the reason behind the name change. 3:09 – Nikki tells the story about how she and Dan originally met. 6:52 – What do you enjoy most about what you do at Money and Clarity? 8:15 – Did you make any new year’s resolutions this year? And how’s your progress going? 8:51 – Dan gave her a new book recently about organizing your life called The Bullet Journal Method 10:47 – What do you like best about working in Cincinnati and living in Dayton?   13:00 – What does a typical weekend look like for Nikki? 14:48 – Nikki has a cooking background so what dish is she best known for? 15:45 – Bengals fan? Who else do you pull for? 16:35 – The Dayton community is also excited about the Flyers basketball team right now.   18:07 – The goals for the podcast as we relaunch the show.  

Ep 152: Meet the New Host Nikki Earley

Weekly show that discusses the problems most people face when planning for their financial future. Special emphasis is placed on tax planning, especially for small business owners.

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Solving the Financial Puzzle

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