Steps to Take if You’re 5 to 10 Years From Retirement

Discussing Investing with a Young Client

We met recently with a young client who was just getting started and wanted to learn more about investing. They were so eager to get a jump on the finances and figure everything out.

Today we’re going to share insightful anecdotes from this recent meeting, where we talked about the underlying principles of planning, highlighting the importance of understanding risk, diversification, and keeping a long-term outlook.

Here’s some of what we discuss in this episode:

• Investing should feel more like watching paint dry.
• How you should view risk and apply that to your investment strategy.
• The way we explained diversification to a novice investor.
• Understand your time horizon and structure your portfolio to align with that.
• What should you do with a QDRO disbursement after a divorce?
• The best account options for independent contractors to use.

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Website - https://smartmoneyquestions.com/

Email - [email protected]

Set up a time to talk – http://SpeakWithMatt.com

Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

Steps to Take if You’re 5 to 10 Years From Retirement

This week on the Smart Money Questions podcast, Matt Hausman tackles the big question: Will you be okay after retirement? With a blend of financial expertise and real-life examples, we’ll share a Wall Street Journal article outlining the financial mistakes to avoid as you get within five or ten years of retirement.

Here’s some of what we discuss in this episode:

• You always want to have cash on hand because unexpected expenses can pop up at any time.
• Maximize your retirement contributions to what your budget allows.
• Understand your Social Security options, especially if you are married.
• There’s good debt and bad debt, but don’t take on unnecessary debt.
• You shouldn’t be investing your money as if you’re 25 or 30.
• Pay attention to what you’re spending on children and grandchildren.

Want to contact us?

Website - https://smartmoneyquestions.com/

Email - [email protected]

Set up a time to talk – http://SpeakWithMatt.com

Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

Life Insurance Questions and Our New Location

Life insurance is a product we get asked about all the time as people are trying to determine if they need to hold on to an old policy or even bother getting one at all. We get this question all the time and there have been a couple different scenarios come up recently that we wanted to bring to the show. So we’ll address those and go through the reasoning behind what we’ve discussed with clients.

As of the end of March, we will no longer be at our current location. We are getting close to securing our new permanent location, which will hopefully be done in the next few weeks. In the interim, we’re going to be operating at 101 Lindenwood Drive in Malvern, Pennsylvania. Everything else will stay the same in terms of contacting us

Here’s some of what we discuss in this episode:

• Scenarios where single clients do need life insurance and don’t need it.
• A strategic look at the role of life insurance in income protection where age and health are key players.
• The different ways life insurance could be utilized to provide income protection.
• Tax considerations when you’re looking at survivorship planning.
• Using life insurance to transfer wealth.

Want to contact us?

Website - https://smartmoneyquestions.com/

Email - [email protected]

The Market in Election Years

What can we expect or what has the market done with regards to returns during presidential election years? After talking with clients the first couple of months, it’s clear that this is going to be a crazy year. That’s not uncommon during election years but this one seems to be setting up for unprecedented craziness.

Here’s some of what we discuss in this episode:

• An update on a quick trip we took to Sarasota.
• Returns for every presidential term since 1928 and what it shows us.
• What does it mean for retirement if you sacrifice earnings for more work-life balance?
• What can you do to meet your retirement goals while also finding that balance?
• The health insurance opportunities that you can take advantage of.

Want to contact us?

Website - https://smartmoneyquestions.com/

Email - [email protected]

Set up a time to talk – http://SpeakWithMatt.com

Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

What Can We Expect in 2024?

Everyone wants to know. What is going to happen in 2024? Join us as we explore a range of topics, from the outlook of the economy, a potential tax surprise for a lot of people, and some new provisions that will take effect this year.

We’ll give you a high-level look at what we’re paying attention to and what we’re discussing with our clients as the year begins. There’s plenty to address within your financial plan and this episode will cover a number of those things.

Here’s some of what we discuss in this episode:

• Will the economy be up or down this year?
• Is lazy money still a problem when we have high interest rates?
• The 1099 interest might catch a lot of people off guard at tax time this year.
• Certain provisions will take effect from the SECURE Act 2.0 this year.
• Take time to look into your legal documents and make sure everything is in order.

Want to contact us?

Website - https://smartmoneyquestions.com/

Email - [email protected]

Set up a time to talk – http://SpeakWithMatt.com

Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/