Money Wisdom
348 episodes - English - Latest episode: 2 days ago - ★★★★★ - 19 ratingsListen to Johnson Brunetti's Money Wisdom with Joel Johnson CFP®, host of Better Money Television program and Forbes Contributor. Gain true financial wisdom and advice aimed at educating you about all of your financial options when it comes to retirement so you can make the best decisions for you and your family. Get information and education that can bring you peace of mind with your savings and retirement. Whether it’s your 401(k) account, IRA, or an underperforming asset, Joel Johnson can answer your questions and make you more aware of issues that may affect you.
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Episodes
Making Sense of the Acronym Salad in Financial Planning
April 26, 2024 16:00 - 14 minutes - 13.1 MBIn the latest episode of the Money Wisdom podcast, hosts John Stillman and Jake Doser, CFP®, serve up a delicious 'acronym salad'—a mix of financial terms that often leave even the savviest investors scratching their heads. If you’ve ever stopped to think about what an acronym meant, this episode will help clear up some of the jargon. No matter how experienced you are with money, these acronyms can still cause plenty of confusion that these acronyms can cause. Here are some of the acro...
Financial Plans for Grandkids
April 19, 2024 16:00 - 16 minutes - 15.5 MBHave you ever wondered how becoming a grandparent might change your perspective on money and legacy? The latest episode of the Money Wisdom podcast features Joel Johnson, CFP, who has recently become a grandfather for the second time. His insights into the financial planning world, coupled with his new role in the family, provide a unique and heartwarming perspective on managing wealth for future generations. Here’s some of what we discuss in this episode: What are some things Joel wa...
Financial Planning with Michael Scott
April 12, 2024 16:00 - 12 minutes - 11.6 MBHave you ever chuckled at the antics of Michael Scott on 'The Office' and thought, "What does this have to do with my financial future?" Well, it turns out, quite a bit! On the latest episode of the Money Wisdom podcast, hosts John Stillman and Matt Pastor, a Retirement Income Certified Professional on our team, take you on a delightful journey where sitcom laughs meet serious financial strategy. Here’s some of what we discuss in this episode: Why you shouldn’t rely solely on the inte...
Navigating Investments in Election Years
April 05, 2024 16:00 - 12 minutes - 11.7 MBWe’re in the middle of another election year in our country and regardless of your politics, there’s always a little concern over the uncertainty of who will take office and how will markets react. People ask all the time about the impact election years have on investing and whether they should be looking to make changes. We are all driven by emotion as humans so it comes as no surprise that this can be a volatile time, but will it be? In this episode of the Money Wisdom podcast, Heath Gro...
Are Bonds a Safe Investment?
March 29, 2024 16:00 - 12 minutes - 11.7 MBThe bond market is often touted as a haven for investors seeking stability and safety. Yet, as with any investment, it is fraught with nuances that can make the difference between a secure addition to one's portfolio and one with unexpected downside. To help provide clarity on bonds and how they play into an investment portfolio, Jake Doser, CFP® joins the podcast to provide a foundational understanding for investors looking to harness their potential. Here’s some of what we discuss i...
Getting Out of Your Own Way
March 22, 2024 16:00 - 13 minutes - 12.6 MBFinancial planning for retirement is a crucial process that requires a strategic approach to ensure long-term security. All too often, however, people will get in their own way and make mistakes that were completely avoidable. In this week’s podcast, we’re going to talk about the most common examples of this with the guidance of Eric Hogarth, CFP®. Here’s some of what we discuss in this episode: Getting caught up in the greed and fear cycle of the stock market and chasing more money t...
Leveraging Your IRA & SEP IRA for Tax Planning
March 15, 2024 16:00 - 11 minutes - 10.3 MBWe’re in the middle of tax season and many people are still getting their paperwork together and wondering about ways to save money on last year’s taxes. The good news is there are ways to potentially save on your taxes even though we’re in a new year, and today we’re going to talk about how with Matt Pastor, RICP® on our latest podcast. This conversation is particularly beneficial for individuals who have just realized their oversight in contributing to their Individual Retirement Account (...
Smart Planning During Times of Career Transition
March 08, 2024 17:00 - 15 minutes - 13.8 MBWhen you find yourself amidst a career transition, be it by choice or circumstance, the path forward can seem fraught with financial uncertainty and healthcare coverage concerns. It's a time when the right advice can make a world of difference, which is why we brought Jake Dozer, CFP® onto the podcast to help navigate this stressful time. Whether you're considering a shift to a new industry, pondering semi-retirement, or stepping into the realm of self-employment, it's essential to have a ...
The Good ‘Ole Days of Retirement Planning
March 01, 2024 17:00 - 15 minutes - 14.5 MBThere were a lot of things that were different back then, for maybe past generations, than they are for people retiring today. So we're going to talk about how things are different now than they used to be. Gone are the days when retirees could rely solely on pensions and Social Security. Today, proactive planning is crucial for a sustainable financial future. The episode with Eric Hogarth, CFP®, highlights that Social Security was never meant to be the only source of income in retirement....
Getting Ready for Tax Season
February 23, 2024 17:00 - 12 minutes - 11.2 MBWe have a very timely conversation today as tax season is upon us once again and getting organized is top of mind. Either you're really happy with yourself because you already got your tax return done and filed and don't have to worry about it anymore, or you're still collecting documents and just worrying about it in general. Even if you’re getting a tax refund, you might still worry about doing taxes. It's just not a fun process for most people. So we wanted to talk with Heath Grossman, C...
When Should I Overhaul My Portfolio?
February 16, 2024 17:00 - 13 minutes - 11.9 MBAs market uncertainty looms, the question that plagues every investor's mind is when to overhaul their investment portfolio. The upcoming year looks like it could be filled with volatility once again, so how should your investments be positioned? In our latest podcast, we featured Matt Pastor, RICP to discuss investment strategies and unpack the critical decision-making that comes with adjusting your assets in response to market shifts. With the focus on avoiding the classic blunders of bu...
Crafting a Retirement with Vision and Preparation
February 09, 2024 17:00 - 16 minutes - 15 MBPlanning for a fulfilling retirement is a significant life milestone, representing the culmination of years of hard work and the dawn of a new, exciting chapter. But retirement planning goes beyond just financial security. It is a holistic process that also involves emotional well-being, nurturing social connections, and the pursuit of purpose. In our latest podcast, Eric Hogarth, CFP® joined the show to discuss the approach to retirement when people are prepared and have a vision for what...
Can You Trust Retirement Income Projections on Your Account Statement?
February 02, 2024 17:00 - 13 minutes - 12.5 MBWe’ve all opened up a statement and seen the retirement income that’s projected from that account. Not every account has it but most do. The question is how much can you trust that number and can you base a retirement plan on what you see? Retirement planning can be a daunting task, with numerous variables and uncertainties that can make or break your financial future. Understanding the intricacies of income projections and tailored strategies is essential to secure a comfortable retiremen...
Social Security Planning Decisions for Women
January 26, 2024 17:00 - 12 minutes - 11.1 MBAs women approach retirement age, it's crucial to understand the nuances of Social Security and its impact on long-term financial health. On our latest podcast featuring Heather Atkins, CFP®, CRPC® we will shed some light on this topic, focusing on why women tend to claim Social Security benefits at 62 and the implications of such decisions. Here’s some of what we discuss in this episode: Why are so many women starting their Social Security at the earliest age? What’s wrong with ta...
Strategic Planning for Required Minimum Distributions
January 19, 2024 17:00 - 13 minutes - 12.5 MBWhen it comes to retirement, understanding Required Minimum Distributions (RMDs) and staying ahead of them is important for financial success in retirement. In our latest podcast, Matt Pastor, RICP explains the intricacies of RMDs and sheds light on why early planning is essential. Here’s some of what we discuss in this episode: How RMDs have changed in the last couple of years. What should you be thinking about if you’re turning 73 this year? The four primary options for how to use y...
Pension Planning: Lump Sum or Monthly Payments?
January 12, 2024 17:00 - 12 minutes - 11.4 MBBelieve it or not, we still get a lot of questions about pensions. Just because there aren’t many private companies that are still offering pensions, there are still many people that had them at a job 20 years ago and they have a choice to make or they are retiring from a state employee job. Whatever the case, one of the questions that people are trying to work through is do I take the lump sum on this pension or do I take the monthly income for the rest of my life? Heath Grossman, CFP® jo...
What are Your Best Financial Options for Buying a Car?
January 05, 2024 17:00 - 13 minutes - 12.5 MBLet’s talk a little bit about a fun topic that we haven’t covered on the podcast much in the past, which is buying cars. Pretty much everyone has a driver’s license and uses a car so it’s a topic that impacts most people. More importantly, buying a car is a large financial decision and making a smart purchase could save you significant dollars over time. We brought Eric Hogarth, CFP® back onto the show to discuss the car-buying process and some of the things that you need to consider befo...
What’s a Reasonable Return for My Investments?
December 29, 2023 17:00 - 14 minutes - 13.7 MBWhen it comes to investing, one of the most common concerns is how to achieve 'reasonable returns,' particularly as retirement approaches. The term 'reasonable' can be quite subjective and varies greatly from person to person. It's influenced by individual risk tolerance, financial goals, and the stage of life you're in. In the recent podcast episode of Money Wisdom, Jake Doser, CFP® will unravel the complexities behind crafting a personalized investment strategy that ensures retirement read...
The Pick Two of the Investment World
December 22, 2023 17:00 - 10 minutes - 9.36 MBPicking from a lunch menu will often give you the option to choose two items from a group. You might pick soup and a sandwich or a salad and a sandwich, but you just can’t select everything off the menu. That’s very similar to the investment world when you’re choosing between safety, growth, and liquidity. Designing an investment plan requires you to pick the two that you want to achieve so let’s talk about which investments help you achieve each of these. Here’s some of what we discus...
The Psychology of Leaving Your Career
December 15, 2023 17:00 - 14 minutes - 13.3 MBIf you ask most people, they will tell you they’re excited for the day they can leave work and head into retirement. And while that’s a valid feeling, many of those same people aren’t prepared for life after a career that’s been at the core of their daily routine for decades. Whether you’re selling a business, retiring, or moving out of one career for another, let’s talk about the psychology of this life change and how it impacts people. Here’s some of what we discuss in this episode: ...
Are Reverse Mortgages Bad?
December 08, 2023 17:00 - 14 minutes - 13.1 MBYou’ve probably heard about reverse mortgages and might even be considering one in retirement. It’s not a question we get all the time but it’s one where somebody is seriously considering it by the time they ask us to weigh in on it. In this episode of the podcast, Jake Doser, CFP® helps us better understand this product and why someone may or may not choose to use one. Here’s some of what we discuss in this episode: What is a reverse mortgage. How reverse mortgages have changed ove...
Is It a Bad Idea to Take Out a 401k Loan?
December 01, 2023 17:00 - 11 minutes - 10.5 MBPart of managing your finances and making the best decisions for retirement is understanding how to best utilize the assets you have in your possession. One of the largest accounts most people have is their 401k and it’s impossible to ignore if you need to make larger purchases. But is it a bad idea to take out a 401k loan? Here’s some of what we discuss in this episode: The mechanics of a 401k and how it works. Why we generally tell people this is a bad idea. What can go wrong wi...
Do I Need Life Insurance in Retirement?
November 24, 2023 17:00 - 10 minutes - 9.84 MBWe’re with Matt Pastor, a financial advisor on our team, to talk about life insurance and the need for it in retirement. Once you’ve earned enough to take care of your family and the kids are through college, do you still need to carry that policy? This is a great question and the answer will vary from person to person depending on your needs. Here’s some of what we discuss in this episode: Some of the considerations we make with life insurance in retirement. A case where we would t...
What Do I Do The Last Five Years Before I Retire?
November 17, 2023 17:00 - 10 minutes - 10 MBThose final years leading up to retirement can be an incredibly exciting time but they can also stir up a little nervous energy. Have you done everything you need to? What should you be thinking about right now? In our latest podcast, we talked with Eric Hogarth, CFP® about the five years before retirement and what you need to do during that time. Here’s some of what we discuss in this episode: The small steps we take with a client who is preparing for that retirement day. Walking y...
Understanding ETFs vs Mutual Funds
November 10, 2023 16:00 - 11 minutes - 10.5 MBA question that many investors ask is whether they should be investing in ETFs or mutual funds. It’s a legitimate question because a lot of people don’t truly understand the difference between the two. In our latest podcast, we want to address the technical part of this question but do so with a less technical conversation. Here’s some of what we discuss in this episode: What is an ETF and what is a mutual fund? Why pick one over the other? What do we typically choose for our clie...
What Does It Mean to Leave a Financial Legacy?
November 03, 2023 16:00 - 14 minutes - 13.8 MBThe concept of financial legacy means different things to different people. Some people might hear that and think about their will or estate documents, but that’s not what we’re talking about here. This conversation will be a little bigger picture and a bit more philosophical. Here’s some of what we discuss in this episode: What does it mean to Joel to leave a financial legacy? What kind of conversations has Joel and his wife had about this? Some of the financial legacy ideas Joel...
How am I Taxed on Non-IRA Stock I Inherited?
October 27, 2023 16:00 - 13 minutes - 30.5 MBToday we’re going to talk about how to handle the taxation on stock that isn’t in an IRA and gets inherited. For example, let’s say someone bought 100 shares of Apple stock in 1987 and they leave it to their kids when they pass away. How are you taxed on this stock? To help us answer the question, we’ve brought on Jake Doser, a financial advisor at Johnson Brunetti. Here’s some of what we discuss in this episode: How the step-up in basis works. The difference in proactive and reacti...
Does Everyone Need Long Term Care Insurance?
October 20, 2023 16:00 - 13 minutes - 30.9 MBToday we’re going to answer one of the two or three biggest questions that people tend to have about their retirement plan. As you look ahead to retirement and the largest expenses you might incur, long-term care will always be a part of that discussion. So does everyone need long-term care insurance? This can be a broad conversation but it addresses one of the top concerns for retirees. For people that have planned properly and feel good about the income they have coming in for retirement...
Does Everyone Need a Trust?
October 13, 2023 16:00 - 9 minutes - 21.8 MBThe question we hope to answer today is does everyone need a trust? It seems that many people confuse the purpose of a will and a trust, but they aren’t the same thing and we’ll clarify that. Plus we’ll tell you who needs a trust and what the primary purpose of using this instead of a will. Here’s some of what we discuss in this episode: Why you don’t need a trust to keep your assets out of probate. Can you assume that a trust will help you bypass a lot of taxes you’re going to pay....
Should I Buy Gold?
October 06, 2023 16:00 - 13 minutes - 31.7 MBWhen the market gets choppy and investors start to feel uneasy, it’s not uncommon to get questions about whether it’s a good time to buy gold or silver. Over time, there are different reasons that people would give for wanting to invest in precious metals, but should you be buying gold? Eric Hogarth, CFP® joins the show to help us answer that question. Here’s what you can expect to learn in this episode: What’s the first thing Eric usually thinks when someone asks about gold? Wh...
Is Social Security Going Bankrupt?
September 29, 2023 16:00 - 15 minutes - 36.1 MBThe topic of Social Security comes up all the time in our office, especially when it comes to its future. Is it heading towards bankruptcy as some suggest, or is this an alarmist notion blown out of proportion? To answer these questions and more, Certified Financial Planner® Heath Grossman joined the podcast to offer his perspective on the much-debated future of Social Security. Here’s what you can expect to learn in this episode: While it’s not necessarily sensationalized, Heath doesn’...
How Much Tax Will I Pay on My Social Security
September 22, 2023 16:00 - 14 minutes - 33.4 MBThe world of Social Security benefits can be complex, particularly when it comes to understanding the taxation associated with these benefits. In this episode, we’re going to tell you how we’d get to the answer and give you a better idea of how much taxation will impact your benefits in retirement. Here’s what you can expect to learn in this episode: How do you go about finding this number? The different tax thresholds and what that means to your benefits. Why you should take a...
When Should I Rollover My 401k?
September 15, 2023 16:00 - 15 minutes - 35.3 MBWe want to be as efficient as possible with our retirement accounts to give us the best chance to grow our money and provide the income we need for retirement. That’s why many people ask about rollovers and whether it makes sense to do that with their 401k. Let’s talk about who might and might not benefit from a rollover and the options you have for your old 401k accounts. Here’s what you can expect to learn in this episode: The different qualifying events that usually make people...
Should I Use Target Date Funds?
September 08, 2023 16:00 - 15 minutes - 21.3 MBMost people are familiar with target date funds, although they might not necessarily know them by that name. Your 401k plan might have a different name for it like a lifecycle fund, but regardless of what it’s called, it continues to be a popular investment choice. Let’s talk today about whether target date funds are a good way to invest for retirement. Here’s what you can expect to learn in this episode: How target date funds were first created. The effectiveness of these funds...
Why Do We Talk Specifically About Financial Planning for Women?
September 01, 2023 16:00 - 13 minutes - 18.6 MBIn the fast-paced world we live in today, financial planning has never been more critical. It plays a significant role in helping us manage our resources, meet our financial goals, and secure our future. This importance becomes even more apparent when it comes to women, given their longer life expectancy and unique financial challenges. That’s why we talk specifically about financial planning for women and why it’s something we focus on. To help us understand this better, we asked Heather...
What Age Should I Start Social Security?
August 25, 2023 16:00 - 15 minutes - 21 MBDo you think there is a universal age to start Social Security? Have you ever wondered how your health history, longevity, and family history play into your decision on when to turn on your benefits? Let’s delve into this critical question in retirement and help you understand how we help our clients determine what age they should claim Social Security. Here’s what you can expect to learn in this episode: How we address this topic when the question comes up. Longevity is the key...
How Should I Handle an Inherited IRA?
August 18, 2023 16:00 - 10 minutes - 14.8 MBWe’re in the middle of one of the largest wealth transfers in our country’s history as Baby Boomers pass on their estate to loved ones, and some of that money is coming in the form of an IRA. Rules regarding inherited IRAs have changed in the past few years so let’s take a few minutes to tell you what you need to do if you receive one. Here’s what you can expect to learn in this episode: Certain people are able to take over the account as their own without any rules. For most pe...
How Much Should I Contribute to My 401k?
August 11, 2023 16:00 - 10 minutes - 15.1 MBMany people will use retirement accounts like the 401(k) to save money, but we often get asked about the amount they should be contributing each month. Should it depend on what your company matches or should you just put as much as you can afford in regardless? Let’s dig deeper into this question and tell you what we like to consider when answering this question. Here’s what you can expect to learn in this episode: The different questions we typically ask someone to determine how ...
Social Security Spousal Benefits
August 04, 2023 16:00 - 14 minutes - 19.4 MBWhen we talk about having a strategy for Social Security, it’s because the SSA isn’t going to point you toward the option that will pay you the most. It’s on every individual to understand the benefit options available and find the path that will help you get the most out of your retirement income. One of those options is the spousal benefit so let’s talk about what it is and who is eligible. Here’s what you can expect to learn in this episode: How spousal benefits work and how muc...
Well I Heard…
July 28, 2023 16:00 - 10 minutes - 14.3 MBAnytime a sentence begins with, “Well I heard,” it gets our attention because you never know what someone is about to ask us. People are bombarded by suggestions and recommendations every day so it’s no surprise that people always bring new ideas or beliefs to a meeting. We’re going to share some of these things people commonly hear and help explain why they don’t always apply to you. Here are some of the things we discuss in this episode: 1:06 – You need to have at least a milli...
What Should You Do With Your House in Retirement?
July 21, 2023 16:00 - 25 minutes - 23.6 MBHousing will always be one of the biggest pieces of the financial plan, but we’re getting a lot of questions from retirees about what to do with their home now that they’ve retired. There are four main options that most people choose from so let’s explore those today and discuss the pros and cons of each decision. Here are some of the things we discuss in this episode: 0:55 – What you need to weigh when staying in your current home 3:04 – Should you downsize? 6:31 – Pros a...
Financial Inspiration from Ted Lasso
July 14, 2023 16:00 - 23 minutes - 32.9 MBOne of the most popular shows of the last few years has been Ted Lasso with Jason Sudeikis playing that heartwarming coaching role, and most people have watched some or all of the comedy series. Today we’re going to pull out some of our favorite Ted Lasso quotes and put a financial spin on them. Don’t worry, no spoilers! Here are some of the things we discuss in this episode: 1:27 – Ted Lasso quotes and financial planning 10:19 – A Woman’s Word with Heather Atkins: Long-term ...
Dad Jokes and Financial Wisdom
July 07, 2023 09:00 - 24 minutes - 34.1 MBTo celebrate another Father’s Day weekend, we decided to work in some dad jokes into the podcast. Who doesn’t love those, right? So join us for a few laughs (we hope) and more importantly, some financial wisdom. Here are some of the things we discuss in this episode: 1:01 – Joke #1: Where does 007 invest his money? 2:29 – Joke #2: What did the duck say after going shopping? 7:14 – Joke #3: Why did the woman go outdoors with her purse open? 9:10 – Joke #4: Why are Ir...
Let’s Have Some Awkward Financial Conversations
June 30, 2023 16:00 - 24 minutes - 33.8 MBPart of being a good financial advisor is helping people navigate what can be awkward and uncomfortable situations in life related to their money. After working with hundreds of clients over the years, we’ve encountered quite a few of these situations. So how do we approach these moments? Let’s talk about what that looks like and what kind of conversations we’ve had for certain scenarios. Here are some of the things we discuss in this episode: 0:51 – When a client wants to remove ...
Scenarios That Could Be Financial Opportunities
June 23, 2023 16:00 - 25 minutes - 35.6 MBSo much about life is having the right perspective and the same can be said about the scenarios that feel like a true crisis. Through proper retirement planning, many of the events that feel like a negative in your life could actually provide you with an opportunity instead. Today we’re going to look at a few examples of this and tell you where to find the silver lining. Here are some of the things we discuss in this episode: 3:23 – The crisis of becoming an empty nester 4:26 ...
Consider These Things Before Investing Into Your 401(k)
June 16, 2023 16:00 - 24 minutes - 34.1 MBFor many people, the 401(k) is an easy account to manage. The money comes out of your paycheck before you get the chance to spend it so it’s like you never had it in the first place. That makes it a great tool for retirement savings but because it’s so painless, people often ignore it more than they should. But your 401(k) deserves attention and there are certain considerations you need to make before deciding if and how much you’re contributing to this retirement account. ...
Tackling Some Financial Hot Topics for 2023
June 09, 2023 16:00 - 25 minutes - 34.9 MBToday we’re going to talk through some hot topics, picking through recent communication with clients over the last several months. There are some recurring themes that a lot of people are asking about right now so let’s take some time to address them all right here on the show. Here are some of the things we discuss in this episode: 0:53 – Should we be making investment changes in this current economic environment? 3:08 – With long term care insurance premiums going up, shoul...
The Financial Draft – Where Would You Pick These Products?
June 02, 2023 16:00 - 24 minutes - 34.2 MBIn honor of the NFL Draft just wrapping up, we thought we’d do a little drafting of our own on the podcast. So we’ve asked Eric Hogarth, CFP® to put on his General Manager shoes and lead our retirement planning team into a financial draft. Find out which products make the grade and which get left behind. Here are some of the things we discuss in this episode: 1:11 – The Roth IRA is a first round pick 1:58 – Gold and precious metals are a pass. 3:18 – Life Insurance Retire...
Financial Truth Bombs
May 26, 2023 16:00 - 23 minutes - 32.5 MBWe know you count on your financial advisor to shoot you straight and tell you what you need to hear rather than what you want to hear. That’s what we’re going to do on this episode as Eric drops a few financial truth bombs on us and provides us with a retirement reality check. Here are some of the things we discuss in this episode: 3:22 – Bonds aren’t always as great for retirees as a lot of people might think. 4:32 – Income tax rates are close to historical lows. 5:35 –...
Different Types of Client Reviews
May 19, 2023 16:00 - 24 minutes - 33.5 MBPeriodic reviews with certain clients can look very different from reviews with others. We’ve worked with just about every type of personality through the years so let’s talk about how our conversations might sound depending on who we’re meeting with for a review. Here are some of the things we discuss in this episode: 1:02 – Clients that always need us to explain something again 2:07 – The client that is positive about everything 3:12 – The client that never wants to com...