Articles and Videos

Managing Your Financial Future

401k or IRA – Where Should You Keep Your Retirement Money?- Episode 145

August 1, 2023

Maybe you’ve been saving most of your working life in a 401k. Great! But what happens when you retire? Should you leave that money in the 401k, or transfer it to an IRA? The answer, as it turns out, is “it depends.” Today’s episode starts off with an email asking why someone may want to do one or the other – or both. Further along, we answer more of your email questions: taxes, 401k matching funds, Social Security benefits, and how pension payments may affect your ability to collect a full retirement benefit.

Investing and Personal Finance

What Happens If You Have Post-Tax Money in Your IRA

July 27, 2023

If you’ve got an IRA that contains only pre-tax money and you take a distribution from that IRA, the taxation is pretty straightforward: the custodian reports the distribution to the IRS, and you pay ordinary income taxes on the amount you took out. If you’re under age 59 ½, then you’ll also owe an early… View Article

Managing Your Financial Future

Why Target Date Funds Are Not What They Seem to Be- Episode 144

July 25, 2023

The idea behind a Target Date Fund would seem logical – a kind of “set and forget it” investment that (presumably) gets safer as you age, giving you less exposure to stock market volatility the closer you get to retirement. But on closer examination, Target Date Funds are not the panacea they appear to be…. View Article

Managing Your Financial Future

Why You Might Consider Owning Alternative Investments- Episode 143

July 18, 2023

“Traditional” investments consist mainly of stocks, bonds, and cash.  Many people get by just fine with these, and simply alter their allocation as they age or as their goals and needs change. Others, though, may want to consider investments that fall outside of the traditional group.  Why?  They may be looking for further portfolio diversification,… View Article

Investing and Personal Finance

Want to “Mega-Fund” Your Roth IRA?

July 13, 2023

We’ve discussed in a previous video about the potential benefits of having money inside a Roth IRA: specifically, that qualified distributions from a Roth don’t count against you when calculating the taxability of your Social Security benefits. Whether it’s a Roth IRA or 401(k), the potential tax-free nature of Roth withdrawals can make them an… View Article

Checking In With Ara

Checking In with Ara – July 2023

July 6, 2023

Hey everyone, Ara here again with our usual monthly check-in. I know we’re all bustling about with our busy lives, but I think it’s important we take a moment to connect and see how we’re all doing. I’ve recently returned from Arizona where I enjoyed a nice break from the heat, a pleasant surprise considering… View Article

Investing and Personal Finance

Will Social Security Benefits Be Taxable?

June 29, 2023

Social Security is often a significant source of income for many retirees or people with disabilities. In some cases, it’s their primary source of income. But one aspect that’s often left out of the discussion is whether these benefits are taxable to the recipient. And yes, Social Security benefits are sometimes taxed.  You may go… View Article

Managing Your Financial Future

Should You Really Own Fewer Stocks in Retirement?- Episode 142

June 27, 2023

It would seem to make sense that if you’re retired, you can’t “afford” the volatility of the stock market – thus, as you age, common advice is that you should own fewer stocks in retirement. But is that good advice?  The answer may depend on your withdrawal strategy.  Do you need to access the money… View Article

Managing Your Financial Future

Figuring Out When You’re Actually Able to Retire- Episode 141

June 20, 2023

You’ve been working your whole life, and retirement for you has always been “at some date in the future.” As you get older, the question becomes more real, and will eventually require an answer.  This is something that financial advisors and planners deal with every day. How do you know when you’re really able to hang it all up?  Maybe your portfolio balance hasn’t reached the number you’ve always figured was the minimum amount you’d need.  As it turns out, there’s a chance, given certain generous tax laws and some basic strategy techniques, that you may be able to retire well before you thought you could. On this week’s episode of Managing Your Financial Future, Podcast host Johnny Dean and financial advisor “Professor” Rick Plum, CFP® discuss what you need to know when asking that all-important question: “When can I retire?”

Investing and Personal Finance

Why an Over-Diversified Portfolio Is a Problem

June 14, 2023

Life is filled with risks. Some risks are controllable, others are not. It’s no different with investing. Some investing risks are out of your hands completely, while others may at least be minimized by using certain strategies, like diversification. You’ve probably heard that diversification of your investments is a good thing. And it seems to… View Article

Managing Your Financial Future

How To Keep Your Parents Financially Safe- Episode 140

June 13, 2023

As our parents age, it’s only natural for us to want to keep an eye on them to make sure their finances stay in good order: bills paid, taxes done correctly, RMDs taken, etc. Sometimes that’s much easier said than done. How do you make sure your parents are on top of their financial situation… View Article

Managing Your Financial Future

Will You Have to Pay Taxes On Your Social Security Benefits? – Episode 139

June 6, 2023

Have you heard that you’re going to be taxed on the Social Security benefits you receive?  Or have you heard that they’re never taxed at all? Many people have no idea what to expect. This is because sometimes a recipient’s Social Security benefits will wind up being taxed under certain conditions, while others may never… View Article