Advertise on podcast: Your Family, Your Finances

Sometimes, we talk about the “myths” of retirement.  And Forbes says one of the most common ones is that we’ll be in a lower tax bracket, when we quit working.  That certainly seems to make sense – why would it not be true? John talks about helping people get into tax planning now to prepare to have a great tax year and how his strategies can help put MORE money in your pocket and LESS in Uncle Sams! 

The biggest fear of planning retirement is running out of money. Good news is, John has tools and strategies that give you income for life!  Call John today for a Portfolio Review!  

The U.S. Senate is now considering a big bill passed by the House that’s designed to help Americans save more for retirement.  It’s commonly called “SECURE Act 2.0.”  Longtime wealth advisor James Bogart tells Yahoo Finance that it’s a huge step in the right direction. John recaps the major parts of this potential change and explains how for those approaching or are already in retirement how they can prepare!  Call John and begin your financial journey today! 

Former NFL wide receiver and potential Olympic athlete Willie Gault joins John on today show for a great conversation about legacy, playing defense on the field and offense for his retirement and MORE!    Call John today for a Comprehensive Retirement Review!   

John had the opportunity to meet and chat with Bill Murray and his brothers (Brian Doyle, Joel, Andy and Johnny) during their 20th "Murray Bros. Caddyshack Charity Golf Tournament" in St. Augustine, FL!  Bill and the brothers discuss what investments they would avoid, who taught them the meaning of charity, and the best financial advice they were given.  

You know the saying, "Two things are certain in life, death and taxes!" Yes, taxes will even plague you in retirement and can even be one of the biggest expenses in retirement if you don't plan right and plan NOW! It's important to be tax efficient while you are working and during retirement. For example, if you’re not yet ready to retire, there’s a way to get a nice tax break by making extra contributions to your IRA or 401(k).  John explains how this works and discusses other strategies for tax planning.  Then, when we think of a retirement nest egg, Social Security is usually factored into the equation.  But an article on The Motley Fool financial website recommends leaving it out when figuring retirement goals.  And it’s not out of fear that benefits will run out.  Rather, it points out that while retirement savings goals are in a person’s control, Social Security benefits are not.  John weighs in on this and more!  Call John today for a Complimentary Portfolio Review! 

In 1994,the 4% rule was created. The idea was with a 50/50 mix of stocks and bonds, you could pull 4% out to live on and not run out of money over a 30-year retirement.  You can still find that rule on the internet today.  But does it take into account today’s huge inflation rate, or should we just throw out the concept altogether? John weighs in on the 4% rule and his planning process!  Contact John today for a Complimentary Portfolio Review!  

Do you get your 401(k) through a big employer or a smaller company?  The difference could be what you pay in fees.  An article on the Morningstar financial website says plans offered by large companies tend to contain more low-fee investment options.  Workers at employers with smaller plans - who are saving just as much - could have around 10% less in assets at retirement because of higher fees.  John explains how using different tools and strategies can help avoid these fees!  Perhaps the biggest fear many retirees have is, “Will I outlive my savings?”  An article in Kiplinger magazine says recent changes in the law now make it easier to include an annuity in a retirement plan.  In other words, you’re converting a portion of your money into a vehicle that provides guaranteed income.  John shares other benefits of annuity payments!  Call John for a Complimentary Income Review!   

Going FROM the working world TO retirement is a huge transition. What are you planning to do when you retire? Has the pandemic changed the way many baby boomers answer that question? John weighs in on this and the idea that people are “scaling back” in retirement out of choice, or out of necessity.  Then, its known as the "silent killer," INFLATION! We're feeling it at the pump, in the stores and even with utility bills - what does the next 20 years look like for inflation and how can John help you create an "inflation proof" income plan?     Contact John today for a Complimentary Portfolio Review!      

A new poll finds 71% say they’re using “life hacks” – or short cuts - more now than they did before the pandemic, especially in the kitchen.  A story in The Motley Fool points to three life hacks that can help maximize your money in later years, hear John breakdown these hacks and what he would add to the list! 

When you work with John, you will not only build a strong relationship and a partnership when it comes to putting together your income plan, you will also see how John treats your money as if it were his own!  Then, it’s human nature to put off a dental visit or an oil change when things are going along just fine.  But neglecting basic maintenance can have a price.  The stock market has been going along well.  What sort of “portfolio maintenance” could we be doing now that will have us saying “glad I did that” if the market turns?

A new survey finds more Americans would like their employers to offer a component of guaranteed income in company-sponsored retirement plans.  The study by the Alliance for Lifetime Income indicates more than four in five would like to have the option of substituting annuities in place of bonds.  Hear what John thinks about this - is this a good idea?  Want to get a lesson on spending?  Then listen to the story of billionaire Warren Buffett.  The sixth richest man in the world ($104 billion net worth) enjoys a simple, frugal life.  Buffett still lives in the same starter home he bought in 1958.  He begins the day with a McDonald’s breakfast and even clips coupons.  And Buffett doesn’t splurge on expensive hobbies.  In fact, he told CBS Sunday Morning that he plays bridge about 8 hours a week. How important is it for retirees to stay frugal as they spend their nest egg?