Financial Matters with Richard Oring artwork

Financial Matters with Richard Oring

30 episodes - English - Latest episode: 4 months ago - ★★★★★ - 13 ratings

Richard Oring and Josh Levitus discuss financial matters at New Century Financial Group, located in Princeton, New Jersey. Richard's expertise in taxes and accounting provides him with a distinct viewpoint on financial planning and how taxes interplay with it. Meanwhile, Josh offers his experience in working with younger investors to the discussion.

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Episodes

Insights from an Industry Expert Kevin Caron.

November 14, 2023 16:00 - 48 minutes - 33.3 MB

Have you ever wondered how Federal Reserve's interest rate changes can affect the market? Well, Kevin Caron, a seasoned Portfolio Manager from Washington Crossing Advisors, drops by to decode the world of finance. With his in-depth knowledge and expertise, we explore current cash, bond, and stock environments, and discuss the impact that interest changes have on the market. Moreover, Kevin also unravels the potential benefits that can be reaped by savers due to these increases. As we delve ...

Hidden Perks of 529 Plans under the New Secure Act 2.0

October 31, 2023 17:00 - 20 minutes - 14.3 MB

Want to uncover the hidden potential of 529 plans and the new twists introduced by the Secure Act 2.0? Wondering how this could be the game changer in your child's college fund or even your first-time home purchase? Then this episode is a goldmine waiting to be discovered. We unpack the quirks and benefits of 529 plans, investment plans that not only allow you to save for a beneficiary but also let you withdraw tax-free. We also delve into the changes brought by Secure Act 2.0, particularly ...

The Role of Trusted Contacts in Money Management

September 26, 2023 13:00 - 24 minutes - 16.7 MB

Have you ever considered how to ensure your financial accounts' safety? Let's discuss the importance of trusted contacts in maintaining financial security. The Finra Rule 2165 is specifically designed to protect individuals over 65 years old or with a mental disability. We will also cover common scams targeting seniors and why keeping your trusted contacts up-to-date is crucial. We will also share real-life examples that illustrate how trusted contacts can safeguard clients. FINRA Video for...

What Is a Fiduciary?

January 04, 2023 13:00 - 22 minutes - 15.5 MB

What is a fiduciary? This is a question that Richard Oring is frequently asked by his clients at New Century Financial Group.   When looking for an advisor, it's an important question to ask. A fiduciary is an individual or organization legally required to manage a person's assets for that person's benefit, not their own.   Being a fiduciary means a financial advisor is held to a higher standard when making decisions for his or her clients. Fiduciaries must follow "duty of care" and "duty ...

I bonds Explained

November 28, 2022 15:00 - 16 minutes - 11.4 MB

With the market volatility we've experienced in 2022, many folks are looking at different types of investment vehicles.  One that Richard Oring's clients have been asking about lately is the I Bond.  Today, Rich explains what they are and more. I bonds are securities issued by the US Treasury, that are 20 year notes and continue paying interest for an additional 10 years, for 30 total.   They can be purchased electronically or by paper. Rich explains the differences, and the limits on what ...

I Bonds Explained

November 28, 2022 15:00 - 16 minutes - 11.4 MB

With the market volatility we've experienced in 2022, many folks are looking at different types of investment vehicles.  One that Richard Oring's clients have been asking about lately is the I Bond.  Today, Rich explains what they are and more. I bonds are securities issued by the US Treasury, that are 20 year notes and continue paying interest for an additional 10 years, for 30 total.   They can be purchased electronically or by paper. Rich explains the differences, and the limits on what ...

Year End - Tax Harvesting

October 17, 2022 20:00 - 21 minutes - 14.6 MB

There are many things you should consider when it comes to end-of-year tax planning, but today Rich and Jag are focusing on Tax Loss Harvesting. To understand tax loss harvesting, we will want to define terms.  Rich walks us through cost basis, capital gains (long and short term), capital losses (long and short term), carry-over losses, and the Wash Rule. Tax loss harvesting is when you take your investment losses for the year and use them to offset your investment gains, lowering your tax...

How To Measure Portfolio Performance

August 09, 2022 19:00 - 21 minutes - 15.2 MB

How can I tell how well my portfolio is performing?   Through this podcast, it's Richard Oring's goal to educate listeners about managing their money.  Today, he and Jag look at different ways to evaluate the performance of your portfolio. First, it's important to understand your strategy and overall objective - is it retirement, savings or something else? Next, we look at total return- and the elements that come together to give you a total return. Then, what time periods do we use to eva...

Do Young Adults Need a Financial Advisor?

August 08, 2022 20:00 - 26 minutes - 18.5 MB

Do I need a financial advisor if I'm in my 20's? There's a stereotype that financial advisors are only for older adults - either in or approaching retirement.  And that's simply not true.  Today, Richard Oring of New Century Financial Group sits down with Jag to talk about why young adults need a financial advisor. Having a financial advisor early in your working years can be like having a coach who gets you into strong practices and habits for your entire career.   Through this relations...

What You Need to Know About Bonds

April 23, 2022 18:00 - 21 minutes - 15.1 MB

Investing in bonds can be an important part of your overall portfolio.  But many investors find them confusing.  Today, Richard Oring and Jag break down what you need to know. Stocks are pretty straightforward - if you buy a stock, you own a percentage of a company. Bonds, on the other hand, mean you are buying part of a company's debt. Rich explains. While bonds aren't for everyone, they do have some advantages, including diversification, capital preservation, and income generation. Ther...

Using a Loan for Home Renovations

March 27, 2022 17:00 - 28 minutes - 19.9 MB

There are many loans available for homeowners who want to renovate their homes.  Today, Richard Oring of New Century Financial Group is joined by Bobby Dmuchowski, VP of Mortgage Lending at Guaranteed Rate. Bobby explains the advantages of going to a mortgage broker, as opposed to going to your bank.   He also talks about the differences between HELOC (Home Equity Line of Credit) and renovation loans. We cover Fannie Mae and HFA loans, fixed vs. variable rates, closing costs, underwriting,...

Importance of Collaboration between your CPA and Financial Advisor

March 01, 2022 19:00 - 49 minutes - 34.3 MB

As the tax landscape ever changes, it becomes more important for your CPA and Financial Planner to collaborate. In this episode of the Stuff About Money podcast, Erik Garcia, CFP®, and Xavier Angel, CFP® are joined by fellow financial advisor Richard Oring and CPA Douglas Ziegler, to discuss why you want two of your most important advisors to be in communication. Are you minimizing capital gain taxes? How many opportunities are you missing on your tax return? You also may be surprised what...

Addressing Financial Literacy in the Black Community

February 14, 2022 14:00 - 24 minutes - 17.1 MB

Today, Rich and Jag welcome Xavier Angel, out of New Century Financial Group's New Orleans office.   Rich and Xavier thought Black History Month would be a good time to address the issue of financial literacy in the Black community. Xavier cites the percentage of households below the poverty line for White., Black, and LatinX households. The differences are stark.   How did we get here?  As a Black financial advisor, Xavier can cite examples of systematic inequalities that he's witnessed fi...

Financial Planning Is For Everyone

January 21, 2022 18:00 - 20 minutes - 14.3 MB

January is a time to re-consider your financial goals.  Today, Richard Oring of New Century Financial Group explains why financial planning is no longer for only the rich - it's something that is accessible to everyone. You should start a financial plan in order to develop real, tangible goals and work toward them. These can include education planning, retirement planning, big purchases, estate planning, tax planning, investments and more.   A financial plan can also lead to better financia...

Life Insurance Explained

August 18, 2021 18:00 - 34 minutes - 23.9 MB

Life Insurance is a very important aspect of your financial future.  But it can be very confusing. Today, Richard Oring of New Century Financial Group breaks down everything you need to know about Life Insurance.   Why do I need life insurance? What can life insurance protect? Can part of my life insurance benefits be donated to charity? What are the tax implications of life insurance? Next, Rich breaks down the pros and cons of different types of life insurance, including: Term Life I...

What a Financial Planner Does

April 08, 2021 21:00 - 36 minutes - 25.2 MB

Today, Richard Oring of New Century Financial Group and co-host Jon "JAG" Gay cover the field of financial planning - what financial planners do and who needs one. We all have coaches for different aspects of our lives and financial planning is no different. That's where a planner comes in, and with increased advertising in the field, baby boomers retiring, and the impact of COVID-19, demand for financial planning has never been higher. There are different pricing models that financial pla...

What New Washington Leadership Means For Your Money

February 04, 2021 21:00 - 39 minutes - 26.9 MB

Today Richard Oring of New Century Financial Group and Jag are joined by Bill Cass, Director of Wealth Management Programs at Putnam Wealth Management in Boston. With Democrats now in control of the White House, and both houses of Congress, we've received many questions from clients on what that will mean for taxes going forward.  This is one of Bill's many areas of expertise.   We look at the the pending COVID relief bill, what can be passed, and what may be done through the process of bu...

College Life and Moving On To The Workforce

January 07, 2021 19:00 - 29 minutes - 20.3 MB

Today, we visit with Richard Oring's former intern (and nephew) Aaron Kravitz.  Aaron is about to graduate a 5-year program at Penn State University with a bachelor's and masters degree in accounting. Not only did Aaron have to navigate the usual challenges of college life - time management, accountability, and budgeting - but he is also finishing his university career in the middle of a pandemic. This of course brings a new set of challenges. Classes are virtual with different preferences...

The Psychology of Money

December 21, 2020 14:51 - 36 minutes - 25.4 MB

Some people are savers, and others are spenders.  Today, we break down the psychology of money.  Joining Richard Oring are certified financial planner Erik Garcia and clinical psychologist Matt Morris, hosts of their own podcast, Building Us. We start by looking at different types of couples - pairs of savers, pairs of spenders, and one of each - and we tell you which pairing often changes...quickly. Matt, Erik, and Rich break down the psychology behind what makes some people spenders and ...

Mutual Fund Fees

November 19, 2020 20:58 - 43 minutes - 29.8 MB

Today, Richard Oring of New Century Financial Group joins Jon Gay to explain the various fees associated with mutual funds.  We cover: What resources are there to find the costs and performance Investor.gov - https://www.investor.gov/ Morningstar.com - https://www.morningstar.com/ Fund Prospectus Definitions to know Front End Load Back End Load No Load Fund expenses: Management Fees Distribution/12b1 Fees Other Fund Fees Exchange Fee Ticket Charges Custodian Fees How to kno...

More Money In Your Pocket and Less To Uncle Sam

August 03, 2020 18:47 - 26 minutes - 18.2 MB

Today Rich and Jag look at ways to keep more of your money and give less of it to Uncle Sam. First, we look at basic tax terms including Adjusted Gross Income (AGI) Above The Line Deductions Itemized Deductions Standard Deductions Taxable Income Credits Total Tax Next, we tackle ways to reduce your W2 income: Contributing to a traditional 401k Funding a traditional IRA HSAs and FSAs Commuter Benefits We also look at different investment strategies that can lower your tax burden...

What We've Learned Halfway Through 2020

June 16, 2020 16:12 - 36 minutes - 25.3 MB

With June here, Richard Oring of New Century Financial Group joins Jon  Gay to take stock of where we are, almost halfway through the year. Things we've learned to live without in 2020 Food and Medical Supplies Social Justice and Social Unrest Financial Issues Interest - the difference between lending and borrowing Low rates and refinance options Don't be afraid to take advantage of governmental programs like PPP Don't be afraid to ask lenders for a break. Email Richard: ROring@ncfg...

Financially Surviving Coronavirus - The CARES Act

April 08, 2020 18:16 - 30 minutes - 20.6 MB

Today, Richard Oring and Jag break down the CARES Act - the Coronavirus Aid  Relief and Economic Security Act - and what it means for you.  We cover: Recovery Rebate Checks for Taxpayers Retirement Plan Withdrawals Retirement Plan Loans Required Minimum Distributions (RMD's) Changes to Charitable Donations Unemployment Benefits Resources: IRS Publication 972 Email Richard: [email protected] New Century Financial Group Website Call Richard: 609-924-2049 x126  

Coronavirus and My Investment Accounts

March 16, 2020 15:10 - 17 minutes - 11.8 MB

Richard Oring's phone has been ringing off the hook with calls from clients panicked over the coronavirus and what effects it will have on their investment accounts.  Today we cover some important things to remember. When you set up your portfolio, you start with goals and what you need to achieve to get there. Once you have the plan in place, stick to the plan instead of letting your emotions get the best of you. One of the most challenging parts of Richard's job is managing client expect...

Playing 5th Quarter Quarterback With Your 401k

February 24, 2020 19:52 - 27 minutes - 18.9 MB

There are many mistakes that people make with their 401K accounts. Today we try to help you avoid those mistakes now instead of trying to fix them later. They mainly fall into three categories. Contribution Level Mistakes Not putting enough into your 401k Not putting anything into your 401k Not increasing your contributions over time Investment Mistakes Fund Selection Being too heavily invested in Company stock Panic when the market drops Not reallocating or rebalancing Miscellaneo...

Getting Your Household Digitally Organized

January 21, 2020 19:38 - 32 minutes - 22.1 MB

Nobody wants to think about their own mortality.  But careful planning can ensure that both your final wishes are granted as directed, and that your loved ones won't have added stress on top of their grief. Richard and Jag discuss the advantages of digital organizers in today's episode.  Many, such as Everplans, can help you create a final plan.  And you can set it up to give access to who you want, when you want. At the end of today's episode, Richard makes a very generous offer to anyone...

Credit Scores and How They Can Affect You

December 13, 2019 13:36 - 25 minutes - 17.4 MB

In today's episode, we go inside your FICO score - first by explaining what it is, and the factors that go into calculating it. They are: 35% Payment History 30% Amounts Owed 15% Length of Credit History 10% Credit Mix 10% New Credit In addition to breaking down each of these categories, we will also cover what's changing in the newest FICO Score 9 version. This includes changes in how medical debt and rent payments are counted. Finally, Richard provides some key tips on how to monito...

Success

October 10, 2019 20:23 - 21 minutes - 14.8 MB

What is success? For some, it means financial security.  But it really can be so much more than that. In today's episode, Richard and Jon discuss both the big picture, and how you can set yourself up for financial success. Learn more: New Century Financial Group Website Call Richard: 609-924-2049 x126

Making and Meeting Expectations

September 12, 2019 22:02 - 23 minutes - 16.1 MB

Expectations are crucial to any relationship, whether it's making them, meeting them, or exceeding them. This is true for your financial adviser, your accountant, and even you as the customer. Communication is key to setting reasonable expectations in any relationship. In our first episode, Richard Oring explains what to expect from your accountant and your adviser - and what they should expect from you. Learn more: New Century Financial Group Website Call Richard: 609-924-2049 x126

Financial Matters with Richard Oring Trailer

September 12, 2019 21:26 - 2 minutes - 1.97 MB

Meet Richard Oring, of New Century Financial Group. Richard's unique background in taxes and accounting give him a unique 360 degree view of financial planning. Learn more: New Century Financial Group Website Call Richard: 609-924-2049 x126