Money Mentors
259 episodes - English - Latest episode: 9 days ago - ★★★★★ - 1 ratingYour Money Mentors – Gary Mattson, Laurel Steward, Taylor Steward and Gerald Green – are a financial team at Mattson Financial Services in Grand Rapids, Michigan. Their goal is to teach and empower you with information about what’s going on in today’s world and how it can affect your retirement. Whether you have questions about investment strategies, taxes, income or estate planning, your Money Mentors are here to help!
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Episodes
Pay Now or Pay Later? The Big Tax Question for Retirement Savers
April 18, 2024 15:50 - 9 minutes - 13.6 MBEvery time you save a dollar into a traditional retirement account versus a Roth, you're making a decision about paying taxes now vs. later in retirement. But which strategy makes sense for you? And why would you want to pay now versus later? Laurel & Taylor dive into this topic this week, as well as some of the more unusual tax deductions the IRS has allowed over the years. Have questions about tax planning for retirement? Connect with our team for a chat at www.MattsonFinancial.com.
The Millionaire Retirement - And Can You Make It on Less?
April 11, 2024 21:00 - 7 minutes - 10.5 MBAs the market surges, so does the number of 401(k) millionaires. If you're one of them, how do you keep what you have and continue growing that pot of money? And what if you don't have a million in savings? Can you still make retirement work? Laurel & Gerald discuss the million-dollar pitfalls and opportunities on this week's episode. Check out more about our 401(k) resources at www.Mattson401k.com.
Raising the Social Security Age: Is It a Good Idea?
April 04, 2024 03:42 - 8 minutes - 11.4 MBSome politicians are floating the idea of raising the retirement age for Social Security. But if they follow through, what would that mean to you? Laurel dives into the details this week to explain the pros & cons. We'll also discuss how your basketball picks this time of year may also correlate with how you pick your investments. Check out more resources for your retirement at www.MattsonFinancial.com.
Avoiding Tax & RMD Surprises in Retirement
March 28, 2024 14:54 - 11 minutes - 16.3 MBYour tax picture often changes in retirement, thanks to different rules on how retirement income is taxed - plus the required minimum distributions that kick in during your 70's. This week, Laurel & Taylor discuss what catches retirees offguard the most, and how you can avoid tax surprises with a little forward planning. Curious about your retirement tax bill? Click on the calculator at www.MattsonFinancial.com.
The Brackets That Really Matter This Time of Year
March 21, 2024 04:11 - 8 minutes - 11.7 MBBrackets busted, anyone? Forget the basketball...maybe we should focus instead on tax brackets. This week, Laurel & Taylor discuss the 'fun' that can be had in getting into the lowest tax bracket possible in retirement. They'll also explain IRMAA. No, it's not your long lost aunt - but it could impact you once you're of Medicare age. Find more retirement resources at www.MattsonFinancial.com.
What To Consider in Tough Retirement Scenarios
March 14, 2024 20:50 - 9 minutes - 13.6 MBSometimes life hands you challenges - things like a pink slip, or divorce. But there are ways you might be able to take those challenges and turn them into retirement opportunities. Listen to Laurel & Gerald this week as we discuss how to evaluate buyout offers - or in the case of divorce, research your Social Security options. Need a second opinion? Connect with our team at www.MattsonFinancial.com.
3 Ways You Might Be Able to Save On Taxes as You Close in on Retirement
March 07, 2024 17:17 - 8 minutes - 11.7 MBWho says getting older doesn't have its perks? On this week's episode, Gary & Laurel discuss some of the tax breaks you can take advantage of to boost your retirement plan as you reach your 50's and 60's. Talk to our team about how to build your tax efficient plan at www.MattsonFinancial.com.
Wait...I Pay Taxes on My Social Security Benefits?!
February 29, 2024 17:41 - 9 minutes - 12.9 MBOne of the big, unfortunate surprises for retirees is that yes, you may have to pay taxes on your Social Security benefits. On this week's episode, Laurel & Taylor discuss the income thresholds you need to know when it comes to taxability. We'll also discuss why your RMD might also be bigger than you expected in 2024. Need some help with your retirement numbers? Connect for a chat at www.MattsonFinancial.com.
The Great Wealth Transfer
February 22, 2024 21:16 - 7 minutes - 10.7 MBAn astounding number of assets will change hands over the next two decades - nearly $73 trillion will be passed from baby boomers to younger generations. If that's a priority for you & your family, how do you avoid pitfalls like higher taxes for your heirs - or family disputes? Gary & Gerald dive into this tricky topic on this week's episode. Need help with your family's plan? Find more resources at www.MattsonFinancial.com.
Retirement Shouldn't Mean Having to Take a Pay Cut
February 15, 2024 05:07 - 8 minutes - 12.4 MBWhile inflation has eased, there are some areas where prices are increasing by double digits...so how is your retirement income supposed to keep up? Gary & Laurel discuss this issue this week, and why you shouldn't have to settle for a pay cut in order to retire successfully. Wondering how you can keep up? Connect for a chat at www.MattsonFinancial.com.
Peak 65: Are You Part of the Trend?
February 08, 2024 17:28 - 9 minutes - 13.5 MBAmerica's reaching "peak 65," as millions of baby boomers reach an important retirement milestone in the next couple of years. This week, Gary & Laurel dive into the decisions you'll want to be prepared to make, whether you plan to retire at 65 or not. Have questions about your retirement milestones? Chat with us at www.MattsonFinancial.com.
Taking Advantage of Tax Season
February 01, 2024 22:44 - 7 minutes - 9.71 MBSure, tax season can seem like a chore, but it's also a good opportunity to revisit your financial situation and look for additional savings. Laurel discusses the things to look for as you gather your financial documents, plus how your Money Mentors at Mattson Financial Services keep themselves up to date on all the latest changes. Time for a retirement tax check-up? Schedule it now at www.MattsonFinancial.com.
4 Ways Retirement Planning is Changing This Year
January 25, 2024 17:39 - 9 minutes - 13.5 MBRetirement rules are constantly changing. From tax planning to estate planning to your 401(K), there are plenty of updates for 2024. This week, Gerald and Gary walk through some of the biggest rule changes and how they might help you improve your financial picture this year. Need help updating your retirement plan? Talk to your Money Mentors at www.MattsonFinancial.com.
Retiring in 2024? Consider These Steps
January 18, 2024 05:17 - 11 minutes - 16.5 MBIf retirement is one of your 2024 resolutions, this week's episode is for you! Gary & Gerald walk through some of the final steps to help you make that seamless transition to retirement - even the non-financial ones. If you're closing in on your retirement date, talk to our team now at www.MattsonFinancial.com.
The Most Stressful Jobs (and How to Say Goodbye to the Stress!)
January 11, 2024 22:22 - 9 minutes - 13.5 MBThe list is out on this year's most stressful jobs...is yours on it? Find out on this week's episode. Gary and Laurel discuss how to approach retirement if you've had enough. We'll also explain why more workers are sticking with their jobs, even into their 70's and 80's. No matter when you decide to retire, we're here to be that resource for you. Connect anytime at www.MattsonFinancial.com.
Where Are Interest Rates Headed in 2024?
January 04, 2024 19:46 - 10 minutes - 14.9 MBWall Street's been hyper-focused on the Fed headed into the New Year. This week, Gary & Laurel discuss what's ahead for interest rates and why it matters to you. There's also a new survey that shows the average Michigan worker retires at 62. If that's you, what do you need to think about before making the decision to retire that young? Check out more retirement resources at www.MattsonFinancial.com.
Good Debt vs. Bad Debt
December 29, 2023 02:03 - 9 minutes - 12.9 MBIt may be tempting to charge purchases for Christmas or other big occasions, but when it comes to debt, what's good and what's bad? Gary & Laurel discuss that this week - plus, the changes that are coming to student aid forms. Learn how your income as a parent or grandparent could impact what your kids or grandkids qualify for when it comes to college grants & loans. Have a question for your Money Mentors? Drop us an e-mail at www.MattsonFinancial.com.
Getting the Max Out of Social Security
December 21, 2023 18:39 - 10 minutes - 13.9 MBEver wonder how you could get the maximum benefits out of Social Security in retirement? On this week's episode, Laurel dives into what it would take to get the biggest monthly check possible (and it's not easy). Need some help with your Social Security decisions? Get a full-blown retirement check-up by setting up a chat at www.MattsonFinancial.com.
Planning for Christmas Splurges
December 14, 2023 22:32 - 8 minutes - 12.3 MBWondering how your Christmas spending stacks up with others? We'll tell you what the average shopper is spending this holiday season, plus offer some tips on how to budget for holiday spending in your financial plan with Gary Mattson of Mattson Financial Services. Check out more of our retirement resources over the holidays at www.MattsonFinancial.com.
A Quick Financial Year-End To-Do List
December 07, 2023 22:53 - 9 minutes - 12.7 MBThe clock's ticking on 2023, but there's still time to make a few year-end financial moves to set yourself up for a better 2024, especially tax-wise. Listen this week as Gary & Laurel walk you through a few steps, including some you can do on your own. And you have to hear this week's story about an unlikely millionaire who gave his town a special gift this holiday season. Find more year-end resources now at www.MattsonFinancial.com.
The Importance of Reading the Fine Print
November 30, 2023 22:38 - 11 minutes - 15.4 MBA couple of stories in the headlines this week remind us to always read the fine print - whether it's a buyout offer, a "dream" vacation deal or any other investment. Gary & Laurel explain what to look for. Plus, a Vanguard report tells us the single biggest factor in a successful retirement. Whether it's understanding the fine print or building a plan that helps you sustain your retirement lifestyle, we're here to help at www.MattsonFinancial.com.
Taking Advantage of Higher Interest Rates for Retirement
November 23, 2023 21:12 - 7 minutes - 9.89 MBThe Federal Reserve is hinting that interest rates may stay at these levels for awhile. And while it may be a negative for those with debt, it can be a positive for savers. This week, Gary explains how to take advantage of higher rates while they last. Plus, we'll discuss why wealthy investors are turning more toward financial advisors. Connect with your Money Mentors at Mattson Financial Services for more lessons at www.MattsonFinancial.com.
The Tough Retirement Conversations
November 16, 2023 17:31 - 9 minutes - 12.7 MBThis week, Gary & Laurel share the very personal side of a family dilemma they're facing as Gary's mom gets older. We'll also discuss the tougher decisions that may come along for you in retirement, and how to address them. Whether it's a health crisis, protecting your assets or talking about these topics with your kids and grandkids, we're here to help. Connect to chat with us at www.MattsonFinancial.com.
Medicare & Marketplace Roundup with Matt
November 09, 2023 05:16 - 15 minutes - 21.5 MBMedicare premiums are set to go up in 2024 for most retirees. Our resident Medicare expert, Matthew Saidla, fills us in on this week's episode. Plus, we'll discuss healthcare options if you're not 65 yet, such as the Marketplace or COBRA. Have questions? Set up a complimentary consultation in Grand Rapids with Matt at www.MattsonFinancial.com. Just click on Health Services.
Are We Entering A Spooky Season for the Markets?
November 02, 2023 20:47 - 9 minutes - 13.1 MBOctober through the end of the year can be a spooky time for the markets, but it doesn't have to be. This week, Gary & Laurel discuss the risks in the market in the home stretch of 2023. We'll also talk about the small moves that can add up to bigger wealth over time. Get your year-end retirement check-up now. Connect with us at www.MattsonFinancial.com.
Investing at a Time of War
October 26, 2023 04:17 - 10 minutes - 15 MBThe war in Israel is adding to pressures on the market & economy, but how does it affect the way we invest for the short-term? Gary & Laurel dive into this topic this week. Plus, we'll discuss the "raise" Social Security recipients will get in 2024. Is a 3.2% cost-of-living adjustment enough? Get a second opinion on your plan now at www.MattsonFinancial.com.
Challenges in the First 10 Years of Retirement
October 19, 2023 20:20 - 13 minutes - 18.1 MBSo, you've retired. Now what? This week, Gary discusses 7 major challenges that can come along with the first decade of retirement. Yes, some are financial - but others have to do with how you'll fill your time. Listen as we address each one, and schedule a chat if you need help with the transition at www.MattsonFinancial.com.
Retirement Setbacks & Worries
October 12, 2023 21:25 - 11 minutes - 15.4 MBIf you've ever had some setbacks with your health in retirement, you'll want to check out this week's episode. Gary shares how his wife is dealing with a setback after minor surgery that may help you redirect your energy too! Plus, why are so many retirees concerned about where we're headed? Address your retirement concerns head-on by setting up a chat at www.MattsonFinancial.com.
Government Gridlock & Your Retirement Security
October 05, 2023 16:40 - 9 minutes - 13.1 MBIt seems every few months we go through more drama in Washington, D.C. about funding our government. But how does it affect you and your future? This week, Laurel discusses the potential impact on our finances as another government shutdown looms. We'll also examine how baby boomers are taking advantage of today's higher interest rates. Need a retirement check-up? Schedule a chat now at www.MattsonFinancial.com.
7 Things You Might Want to Wait On Until After Retirement
September 28, 2023 18:56 - 12 minutes - 17.3 MBUsually, we talk about what to do before you retire...but this week, we consider 7 things you might want to put off until after retirement. If you're up against any one of these decisions, feel free to reach out to the team at Mattson Financial Services for a second opinion. Connect now at www.MattsonFinancial.com.
Strikes, Layoffs & Buyouts
September 21, 2023 04:22 - 8 minutes - 11.9 MBThe labor market is shifting right now. Between strikes, layoffs and buyout offers, it might be time for some to consider an early retirement. But what steps should you take first? Laurel & Taylor discuss the job transition on this week's episode. Need a second opinion on a buyout offer or retirement plan? Schedule a chat now at www.MattsonFinancial.com.
Millionaire Savers & The Where to Save Problem
September 14, 2023 20:25 - 7 minutes - 9.86 MBA new survey finds more Americans are reaching seven-figure savings in their retirement accounts. This week, Gary dives into why that's the case - and where people are investing their retirement dollars. Wondering if you're invested in the right spots based on your goals? Connect now for a portfolio check-up at www.MattsonFinancial.com.
Retirement Splurges
September 07, 2023 20:31 - 9 minutes - 13 MBFor those who've been responsible savers all their lives, spending can sometimes be a challenge in retirement. But this week, Gary discusses ways to consider splurging a bit on yourself without worrying so much about your retirement nest egg. We also dive into the topic of a cashless society - is it a good idea? Check out more retirement resources at www.MattsonFinancial.com.
Stocks, Bonds & Your Retirement Success
August 24, 2023 04:11 - 11 minutes - 15.7 MBWhat's the one biggest contributing factor to your retirement success? Laurel & Taylor discuss what one survey found on this week's podcast. Plus, if you're old enough to remember full-service gas stations - you'll want to check out this episode. Find more about our "full-service" approach at www.MattsonFinancial.com.
The Man Who Helped Save Gary’s Life
August 17, 2023 03:31 - 25 minutes - 35.5 MBWhat is your wealth without your health? Join us for a special episode this week as Gary talks to the man credited with helping save his life. Learn more about what Dr. Alphonse DeLucia and his team at University of Michigan-Health West are doing to change the game for cardiac patients, giving people like Gary a second chance at life. Find more about his work here: https://uofmhealthwest.org/news/taking-on-leadership-of-cardiac-surgery-program-is-a-homecoming-of-sorts-for-experienced-cardiot...
Better Options with Higher Interest Rates?
August 10, 2023 22:37 - 9 minutes - 13.5 MBAs interest rates climb, you may have more options when it comes to funding your retirement. Find out what Gary & Gerald think about those options on this week's episode. Plus, we discuss the factors to consider when looking for a 55+ community or other living arrangements in retirement. Need a second opinion on your plan? Set up a chat at www.MattsonFinancial.com.
How to Avoid Leaving Your Heirs a Tax Bomb (& How to Spend It All Yourself Too!)
August 03, 2023 22:08 - 9 minutes - 13.7 MBThis week, we discuss two retirement scenarios: First, what to do if you want to leave something behind without leaving a huge tax bill to go with it. Secondly, we tackle how to build the type of plan that allows you to spend every dollar for yourself. Need help with either scenario? Connect now at www.MattsonFinancial.com.
The Mattson Financial Difference
July 27, 2023 14:26 - 11 minutes - 16.4 MBGary & Laurel are off to a conference with financial advisors, so this week, we ask them "What makes them different?" We also discuss a new survey showing strain among the middle-class, plus what to do if you've benefited from the run-up in real estate prices. If you ever have a question about something on the podcast, feel free to connect with us at www.MattsonFinancial.com.
The Summer Outlook for Interest Rates
July 20, 2023 20:13 - 8 minutes - 11.9 MBAs the Federal Reserve meets in July, market watchers are looking for another possible interest rate hike. But what does that mean for retirement savers? Plus - The Magnificent Seven. It's not a superhero movie...it's what's driving the market this summer. Taylor & Laurel discuss what it might mean for your portfolio. Schedule a summer check-up on your investments at www.MattsonFinancial.com.
The Dog Days of Summer
July 13, 2023 20:58 - 7 minutes - 10.9 MBThese may be the dog days of summer, but it's not a time to get lazy about your finances. This week, Laurel & Taylor dive into what you can be doing to monitor your portfolio & the issues they're watching during the summer months to help retirees enjoy these slower months. It's also the perfect time for a retirement checkup, so schedule yours now at www.MattsonFinancial.com.
Time For a Mid-Year Financial Checkup
July 06, 2023 20:20 - 15 minutes - 20.7 MBHard to believe, but we're already halfway through 2023. This week, Gerald & Laurel walk us through 9 steps we can take on our own - or with a fiduciary advisor - to help make sure we're on track at the midway point. Need help with your mid-year checkup? Connect with us now at www.MattsonFinancial.com.
The Bulls Are Back!
June 29, 2023 20:57 - 8 minutes - 11.6 MBThe bulls have returned on Wall Street, but if this market still confuses you, this week's episode is for you. Laurel & Corey Davis discuss the reasons behind it and why Boomers are spending more, despite some continuing economic concerns. Need a second opinion on your portfolio? Connect with us at www.MattsonFinancial.com.
Why Americans Are Investing More in Stocks
June 22, 2023 20:36 - 9 minutes - 13.5 MBAmericans have more invested in stocks now than they have in the last 15 years, but is that the best place to invest? And what are the other options? Also on this week's episode, Gary & Laurel dive into what helps people create real and lasting wealth - it may not be as hard as you think! Need a retirement check-up? Connect now at www.MattsonFinancial.com.
SALE! SALE! SALE! Tax rates are on sale!
June 15, 2023 20:44 - 11 minutes - 15.3 MBWe're excited about a couple of things this week. First, Gary's back on "Money Mentors!" He explains the challenges of the last couple of months. Plus, we discuss the tax sale you can take advantage of - but for a limited time only. Schedule your retirement check-up now at www.MattsonFinancial.com.
Social Security Projections for 2024
June 08, 2023 09:00 - 7 minutes - 10.5 MBSocial Security recipients got a nice bump in benefits in 2023, but the early projections for a cost-of-living increase for 2024 isn't so rosy. This week, Gerald & Laurel discuss other ways to think about giving yourself a raise in retirement, and how to get the most out of your benefits. Have Social Security questions? Connect with our team at www.MattsonFinancial.com.
Are Troubled Banks Troubling You?
June 01, 2023 20:13 - 5 minutes - 7.52 MBAfter the recent collapse of another small bank, some Americans are expressing concerns about where there money's being held. But what should we question about where our money is saved? And how do we figure out how much risk we should take with our cash? Listen to this week's episode for more and connect now for a second opinion at www.MattsonFinancial.com.
The Mattson Financial Process
May 25, 2023 20:05 - 9 minutes - 13.1 MBIf you've thought about sitting down with a fiduciary financial advisor, but haven't taken that first step, this episode is for you. This week, Gerald & Laurel discuss their process at Mattson Financial Services as we walk through a typical client scenario, and how the plan takes shape. Ready for that conversation? Connect now at www.MattsonFinancial.com.
What’s Your Investing Personality?
May 18, 2023 19:59 - 5 minutes - 7.78 MBEveryone has a different view of money - and how to invest it. This week, we dive into 4 different personality types when it comes to investing, and how the team at Mattson Financial Services works with each one. And even if you've been a "zombie investor" for years, if it's time to get a second opinion on your plan, connect now at www.MattsonFinancial.com.
The Debt Ceiling & Your Retirement
May 11, 2023 16:44 - 8 minutes - 12 MBAs Washington tries to raise the debt ceiling again, you might wonder how it affects you & your retirement. Laurel & Gerald discuss the real life implications this week, and how to include it in your own financial plan. Plus, the Fed's latest moves could make certain savings accounts more attractive, but is it the best place to save money? Listen for more and schedule your own retirement check-up at www.MattsonFinancial.com.
The 5-Year Retirement Plan: Portfolio Management
May 04, 2023 16:31 - 7 minutes - 10.8 MBIf you're within 5 years of retirement, how should your portfolio management strategy change? And are you better off taking less risk? We'll dive into that topic on this week's podcast. We'll also discuss how AI - artificial intelligence - could change the career landscape in the next several years, with a prediction from ChatGPT. Need a second opinion on your retirement plan? Connect now at www.MattsonFinancial.com.