Managing Your Financial Future

401k or IRA – Where Should You Keep Your Retirement Money?- Episode 145
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.
Figuring Out When You’re Actually Able to Retire- Episode 141
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?”
I-Bonds: When 4.3% Is Better Than 9.6% – Episode 138
Managing Your Financial Future

I-Bonds: When 4.3% Is Better Than 9.6% – Episode 138

May 30, 2023

For the past year or so, I-Bonds have come into favor among people who are looking for a higher rate of return on Treasuries. A little over a year ago, they were paying an annualized 9.6 percent rate of return. Today, they’re paying right around 4.3 percent. It would seem, then, that you’d have been better off buying them at that higher rate. But maybe not – because of the way I-Bonds pay their interest, the current “lower” rate may actually be more attractive today. How is that possible?
An Inside Look at How Advisors Manage Your Taxes – Episode 137
Managing Your Financial Future

An Inside Look at How Advisors Manage Your Taxes – Episode 137

May 23, 2023

Tax time may be over for most people, but for financial advisors, tax management is a year-round task.  One of those tasks involves a “postmortem” of their client’s tax situation, where they can determine what may have gone right – or gone wrong – with their most recent tax return. If you’ve ever wondered what a financial advisor looks for when managing taxes, and what you yourself may want to look at more closely, today’s episode is a peek inside that world.
Time to Calm Your Fears About Running Out of Money- Episode 135
Managing Your Financial Future

Time to Calm Your Fears About Running Out of Money- Episode 135

May 9, 2023

Fear can either be a great motivator to get things done, or it can cause a person to retreat, cover up, and hope the issue will go away.  People who are retired have many financial concerns, but their biggest fear (according to the research) is running out of money.  This often causes them to either be frugal beyond all reason, or to ignore their finances completely and just pray it all works out. Neither option is ideal.  What if we told you that you may have a lot less to fear in retirement than you thought? What if you may be able to retire without having to grow your portfolio to the moon?  Is that possible?
Let’s Clear Up All the Roth IRA Confusion- Episode 134
Managing Your Financial Future

Let’s Clear Up All the Roth IRA Confusion- Episode 134

May 2, 2023

Roth IRAs have been in existence for 25 years, and while they’re one of the more popular financial planning tools for many people, they’re also quite often misunderstood.   Most investors may be aware of the tax-free nature of the Roth, but beyond that, there are a lot of unanswered questions: When can I get to my money? Can I access converted money? What is the 5-year clock? What is a Roth two-step? Get the answers to those Roth questions, and more