Money Wisdom

Much of the conversation we have on the podcast deals in the present but we wanted to take a look back over Joel’s career and hear some of the stories he remembers most. Find out what he would consider his biggest mistake, the luckiest thing he’s seen, and more.

Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-186-highlights-from-a-career-in-financial-planning/ 

What we discuss on this episode: 

0:45 – What’s in store for the stock market this year?

2:27 – Tell a story about the messiest financial situation you’ve help navigate 

5:50 – Biggest mistake Joel made early in his career

7:24 – Luckiest thing you’ve seen happen to someone financially

10:21 – The maddest Joel’s been in his job

15:21 – Mailbag question on W-2 vs Independent Contractor

18:54 – Mailbag question on couples with separate bank accounts 

21:01 – Mailbag question about taxes on retirement accounts

Much of what you try to accomplish with a financial plan is being prepared for the unexpected and there’s plenty of that in life. We realize not every question has an answer, but a strong plan can position you for many outcomes.

Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-185-financial-questions-you-dont-know-the-answer-to/ 

What we discuss on this episode: 

0:38 – Market Update

3:25 – How should we invest this year?

5:02 – When is the next market crash?

8:21 – What will healthcare costs look like in 20 years?

10:37 – What will tax rates look like three administrations from now?

15:12 – Fun Fact and Quote of the Week

17:26 – Mailbag question on mortgages

19:44 – Mailbag question on saving 15% of income

21:35 – Mailbag question on trusts in tax planning

After one tumultuous 2020, we’re bound and determined to have a positive year in 2021. No matter what comes our way, let’s keep taking steps to build a strong financial plan. To help you do that, we’ve laid out four planning items that should be on everyone’s list.

Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-184-planning-items-to-put-on-your-list-for-2021/ 

What we discuss on this episode: 

2:49 – Understanding new legislation

5:57 – The SECURE Act 

9:28 – Adjusting to new income levels 

12:56 – Assess your overall retirement health

16:18 –  Mailbag question about leaving money behind to kids 

19:11 – Giving your children a better financial opportunity

21:01 – Mailbag question about the 4% rule

22:56 – Mailbag question about severance packages and leaving work early. 

Stats tell us that many people believe a financial plan is important but the majority of those people don’t follow through and get one built. If that’s you, don’t let procrastination keep you from reaching your retirement goals. As this new year begins, let’s talk about how you can take those next steps and leave procrastination in 2020.

Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-183-dont-let-procrastination-stop-you-in-2021/ 

What we discuss on this show: 

0:40 – This is the year for Joel 

2:13 – Advice for someone that needs motivation

5:05 – Adding structure in your life   

8:29 – Why do people procrastinate with financial planning

11:13 – Assuming advisors are always selling you something

14:45 – What we talk with clients about in a review

18:50 – Mailbag Question: I max out my HSA every year but never take anything out of it. If I just keep doing this every year, can I build up a huge balance that will be tax-free in retirement?

20:08 – Mailbag Question: I planned to work for another five or six years but I was just told I’ll be terminated in a few months, two weeks after my 60^th birthday. I get a good severance package and I’ll have 90 days to exercise all my stock options. Should I use this cash to pay off the house and try to retire or should I get another job?

As we kick off a new year on the podcast, let’s take a big picture look at 2021 and find out what Joel feels are the biggest challenges to the economy and what he’s most excited about for this year. We’ll also run through a handful of investment ideas to determine whether they might be a good idea or a bad idea.

Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-182-what-were-optimistic-pessimistic-about-for-2021/ 

What we discuss on this show: 

0:47 – Remember why we do this show

2:05 – What we’re pessimistic about going into 2021

3:54 – What we’re optimistic about in 2021

6:40 – 41 years ago the first government bailout occurred

9:16 – Joel tells a story about a man that turned around companies

11:52 – Start the year with a Money Map review

14:34 – Financial stocking stuffers: Apple stock

15:17 – Financial stocking stuffers: high-yield bonds

15:46 – Financial stocking stuffers: Tesla stock

17:07 – Financial stocking stuffers: Whole life insurance policy

18:09 – Financial stocking stuffers: S&P 500 Index ETF

19:43 – Financial stocking stuffers: Indexed Annuity

21:00 – Mailbag Question: I was laid off from my corporate job and I’m not that excited to find something else in the corporate world at the age of 53. I’m interested in real estate so I’m considering getting my license and becoming a realtor. This would probably require me to take some early withdrawals from my IRA. Is this a dumb idea?

Do your retirement goals include finding a second home where you can spend a portion of the year living in? If so, what are the best options for financing that home? Let’s look at the different choices and explain which might make the most sense from a planning standpoint. We’ll also answer two other listener questions on contributions and working with an advisor.

Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-181-best-options-for-financing-a-second-home/ 

What we discuss on this show: 

0:20 – Vaccine news

1:40 – Mailbag Question: We’ve always dreamed of a vacation home in retirement. I think we can afford it but aren’t sure where to pull it from?

5:51 – Mailbag Question: I make too much to contribute to a Roth IRA. Is there anywhere else I can invest to give myself some tax advantages in the future?

7:52 – Mailbag Question: I’ve always handled my investments on my own but is that a bad idea as I get older?

9:23 – Money Map Retirement Review

As we approach the end of the year, it’s important to review a handful of key items before the calendar turns to January 1. Use the list we provide on this episode to help you get your finances in order and make some planning decisions.

Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-180-end-of-year-planning-items/ 

What we discuss on this show: 

0:59 – Item 1: Maxing out retirement contributions

3:11 – Item 2: Review the CARES Act and the related relief

6:58 – Item 3: Tax Loss Harvesting

8:54 – Item 4: Evaluating charitable contributions and tax deductions

10:48 – Item 5: Roth conversions

12:16 – Money Map Retirement Review

A number of IPOs are scheduled in the upcoming weeks and this always grabs the attention of investors. So we’ll talk about our approach to IPOs and how Joel feels about them. Plus, we have three mailbag questions covering disability payments, investing extra money, and losing trust in financial advisors.

Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-179-investing-in-ipos-mailbag-questions/ 

What we discuss on this show: 

0:19 – Upcoming IPOs

2:32 – Mailbag Question: I’m a teacher and plan to retire in the next five years but this year’s schedule provided me the opportunity to start a side business. It’s going well so what should I invest it in?

5:05 – Mailbag Question: I’m a retired veteran living off my military pension and disability. If I find a job, I’d lose the disability. Is it worth finding a job to lose that?

6:44 – Mailbag Question: I once worked with financial advisor that ended up in jail for securities fraud. I haven’t worked with an advisor in more than 20 years because I have trouble trusting people in the industry. I could use the help now as my situation has gotten more complicated. How can I overcome the trust issues?

8:23 – Get a Money Map retirement review for yourself

Who doesn’t want to get the most out of their relationship with a financial advisor, but when does a request cross over to unreasonable? Let’s look at three examples of things that someone might hope for but won’t likely be in the cards.

Read more and get additional financial resources here: https://johnsonbrunetti.com/podcast-episode-178-are-these-unreasonable-financial-requests/ 

What we discuss on this show: 

1:12 – I want to get bigger returns with little to no risk

6:21 – Can you reduce the fees for me?

11:10 – How can I get out of paying taxes on the money in my IRAs and 401k accounts?

12:02 – The Money Map Retirement Review