Smart Money Questions

It’s a different type of episode this time around, as we welcome long-time football coach Mike Ricci to the show. Mike coached football at Garnet Valley High School where he built a powerhouse football program before his retirement from the field. Now, Mike has his own business where he helps companies reach their goals as an organization much like he helped so many young people reach their goals both on and off the football field.   Here’s some of what we discuss in this episode: What got Mike interested in coaching and teaching.How was Mike able to build and maintain his principles during his 38-year coaching career.Using the role of head football coach to help families and the community.Laying the foundation for success.How building success on the football field translates to success in the business world.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com       Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

There’s a lot of anticipation surround the Federal Reserves meeting this month, and their decision on interest rates will have an impact across many different areas of financial planning. There’s a lot going on right now that impacts the discussions we have in our office, and we’re bringing some of that to the podcast today. Join us as we share an in-depth analysis of the current economic indicators and what they might mean for your savings, investments, and overall financial strategy. Plus, we’ll offer some guidance for anyone facing decisions about pensions and lump sum offers and make sure you understand the potential pitfalls of transferring property without consulting an estate planning attorney.   Here’s some of what we discuss in this episode: Why the Federal Reserve’s meeting this month is important.How rate cuts impact savings, investing, and retirement planning.Does it make more sense to take monthly pension payout or take the lump sum?How the interest rate environment impacts the lump sum opportunity.Before you deed your home to your children, you need to speak to an estate planning attorney.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

We always like to use this show to share some of the conversations we’re having with clients and the topics that are being discussed in our office. Today we have three important ones that have popped up multiple times recently and that’s life insurance, tax planning, and legal documents.   Here’s some of what we discuss in this episode: What opportunities you might have with a life insurance policy in retirement.Ways that you can reduce taxes and keep from paying more than you need to.  Always being aware of the different buckets of risk is extremely important.Which legal documents do you need to have and what should you be reviewing?   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

We’ve reached halftime for 2024 and it’s the time of the year when we like to check up on the finances with clients. Today we want to walk you through the conversations we’re having and the topics we’re covering in the office. This episode is packed with both entertaining summer stories and crucial financial advice that you won't want to miss.   Here’s some of what we discuss in this episode: Mid-year tax planning is important so what moves should you be considering?Make sure wherever you are working, that you understand all of HR benefits.How is AI going to potentially change the investing world?   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

It’s been a busy few weeks for us with a couple concerts and a trip to Florida to visit Maggie’s mom, and it was during that trip that we met someone who got us thinking about the theme for this month’s show. Today we’ll share that intriguing conversation we had with a retiree in Florida who was fearful about the future of the economy and the dollar, which sets the stage for a deeper discussion on financial planning and investment strategies.   Here’s some of what we discuss in this episode: The story of a person we met on a trip who told us all about his worries for the country and why he was buying gold.Let’s look back at the different presidencies over the last 50 years.Fear sells and we’ve seen this story many times before.The different assets you can diversify with if you do have concerns.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

We met recently with a young client who was just getting started and wanted to learn more about investing. They were so eager to get a jump on the finances and figure everything out. Today we’re going to share insightful anecdotes from this recent meeting, where we talked about the underlying principles of planning, highlighting the importance of understanding risk, diversification, and keeping a long-term outlook.   Here’s some of what we discuss in this episode: Investing should feel more like watching paint dry.How you should view risk and apply that to your investment strategy.The way we explained diversification to a novice investor.Understand your time horizon and structure your portfolio to align with that.What should you do with a QDRO disbursement after a divorce?The best account options for independent contractors to use.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

This week on the Smart Money Questions podcast, Matt Hausman tackles the big question: Will you be okay after retirement? With a blend of financial expertise and real-life examples, we’ll share a Wall Street Journal article outlining the financial mistakes to avoid as you get within five or ten years of retirement.   Here’s some of what we discuss in this episode: You always want to have cash on hand because unexpected expenses can pop up at any time.Maximize your retirement contributions to what your budget allows.Understand your Social Security options, especially if you are married.There’s good debt and bad debt, but don’t take on unnecessary debt.You shouldn’t be investing your money as if you’re 25 or 30.Pay attention to what you’re spending on children and grandchildren.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

Life insurance is a product we get asked about all the time as people are trying to determine if they need to hold on to an old policy or even bother getting one at all. We get this question all the time and there have been a couple different scenarios come up recently that we wanted to bring to the show. So we’ll address those and go through the reasoning behind what we’ve discussed with clients. As of the end of March, we will no longer be at our current location. We are getting close to securing our new permanent location, which will hopefully be done in the next few weeks. In the interim, we’re going to be operating at 101 Lindenwood Drive in Malvern, Pennsylvania. Everything else will stay the same in terms of contacting us   Here’s some of what we discuss in this episode: Scenarios where single clients do need life insurance and don’t need it.A strategic look at the role of life insurance in income protection where age and health are key players.The different ways life insurance could be utilized to provide income protection.Tax considerations when you’re looking at survivorship planning.Using life insurance to transfer wealth.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com

What can we expect or what has the market done with regards to returns during presidential election years? After talking with clients the first couple of months, it’s clear that this is going to be a crazy year. That’s not uncommon during election years but this one seems to be setting up for unprecedented craziness.   Here’s some of what we discuss in this episode: An update on a quick trip we took to Sarasota.Returns for every presidential term since 1928 and what it shows us.What does it mean for retirement if you sacrifice earnings for more work-life balance?What can you do to meet your retirement goals while also finding that balance?The health insurance opportunities that you can take advantage of.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

Everyone wants to know. What is going to happen in 2024? Join us as we explore a range of topics, from the outlook of the economy, a potential tax surprise for a lot of people, and some new provisions that will take effect this year. We’ll give you a high-level look at what we’re paying attention to and what we’re discussing with our clients as the year begins. There’s plenty to address within your financial plan and this episode will cover a number of those things.   Here’s some of what we discuss in this episode: Will the economy be up or down this year?Is lazy money still a problem when we have high interest rates?The 1099 interest might catch a lot of people off guard at tax time this year.Certain provisions will take effect from the SECURE Act 2.0 this year.Take time to look into your legal documents and make sure everything is in order.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

We’re coming down to the final few days of 2023 and we hope you have all enjoyed a good holiday season. As we close out the year, we wanted to go over a couple of client conversations we had recently dealing with small businesses and the power of money.   Here’s some of what we discuss in this episode: How should business owners balance saving for retirement and putting money back into the business?What are some consistent financial habits you can create as a business owner?Reviewing opportunities for Roth conversions.Managing an inheritance and how to pass it along to your children.     Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

It’s hard to beat this time of the year with the holidays and everything that comes along with it, and we hope that you enjoyed a wonderful Thanksgiving. We have a lot to be thankful for and hope you do as well when you look back on this year and what’s to come in 2024. Today we want to go over a couple of meetings we’ve had recently with clients who had needed to address some specific scenarios. In each of these scenarios, we’ll share the process we went through and the different options we considered before helping them determine the best path forward.   Here’s some of what we discuss in this episode: What should you do with the extra money each month once your mortgage is paid off?Why it might make more sense to pay off your mortgage now if you have the extra cash.Changing from a joint tax filing to a single filer and is it worth staying in a marriage for.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com     Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

As we close in on the final two months of the year, there’s a lot happening now and plenty to look ahead to for 2024. That’s what we want to spend some time on today by sharing some of the discussions we’re having in our office and some of the questions we’re answering from clients in this final quarter of the year. This includes open enrollment, world conflicts, and financing a new home.   Here’s some of what we discuss in this episode: The different open enrollments and what you need to know.Understanding the different parts of Medicare.Does the market overreact to world conflicts?Working through a situation with clients about moving into a new property.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com      Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

Last month, we held an educational event and covered a lot of important information. We even featured estate attorney Jennifer Walker, who talked about the estate planning do’s and don’ts. It was a great event and we appreciate everyone that came out. Because we went over a list of key planning items for the year, we wanted to provide all of that information and education for you on the podcast. So this show will be go over all of that today, which should be very helpful for anyone thinking about what they need to do before the year ends.   On today’s show, here’s some of what you’ll learn: We’ll go over the recently signed SECURE Act 2.0 and the impact it has on inherited IRAs, catch-up provisions, RMDs, and retirement account opportunities.The estate do’s and don’ts that Jennifer Walker shared with us.The current tax code will sunset in the end of 2025. We’ll tell you why there’s a good chance your taxes will go up.The current investment climate this year and what it might look like moving forward.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Set up a time to talk – http://SpeakWithMatt.com    Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

As we move beyond the mid-point of the year, we always take this time to have a check-up with clients to run through a number of items that might need attention before the end of the year. Today we’ll share a few of those things, including budgeting, Roth contributions, and SECURE Act 2.0 changes. Then we’ll spend some time running through a few different scenarios we’ve helped clients out in recent weeks.    On today’s show, here’s some of what you’ll learn: Is a Roth IRA or Roth 401k actually a bad investment option? Let’s breakdown a recent article we found.A list of items to be paying attention to before the end of the year.Is it a good idea to help out your child and their boyfriend/girlfriend with a house down payment? Here’s what you should address.Should you keep your mortgage in retirement for the tax deduction?The financial topics that create tension for couples.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

Hard to believe we’re already into July but we’ve had a great summer so far. Hopefully you’ve been making the most of the warm weather and longer days. Today’s episode isn’t a long one but we wanted to take a little time to update on what’s going on at Old Security Group and talk about some of financial topics we’ve been paying attention to.      On today’s show, here’s some of what you’ll learn: Details on our upcoming client educational event (1:04)We’ve been hearing from people about investment scares  (5:46)Why an HSA is considered a hidden gem in investing.  (8:17)2 ways we advise clients to use an HSA  (10:51)How to invest when worried about a recession (14:19)   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

Today we have a special guest. My 21-year-old daughter Ashley and I have been talking about doing this interview for several months. We want to share the importance of personal finance and personal finance education. My wife and I constantly talk to our kids about this topic, including behavioral finance, so we are excited to share this episode with you!    On today’s show, here’s some of what you’ll learn: What has Ashley been doing the past few years? (2:23)How Ashley budgeted her money. (6:03)How Ashley started investing. (10:56)   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

We’re covering several important topics today derived from client questions and concerns. Given the relevance of today’s questions, Matt thought you’d like to hear these answers as well. Join us as we touch on the recent events taking place in the financial sector and explore actionable steps that we can take to help set up our heirs for success.   On today’s show, here’s some of what you’ll learn: What’s been in the headlines about bank failures? (4:26)What’s happening with the debt ceiling and market? (7:25)Is your estate plan in order? (9:08)   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

We met with a new client recently and looked at a snapshot of their financial situation. One of the things we noticed was their outstanding debt, including credit cards and car loans. The client wanted to take about $40,000 to $50,000 out of their 401k and take a financial hit in order to pay down that debt. Is that a good idea? We’ll share what advice we gave them and how you can handle a similar situation. Join us for an insightful conversation about relocating, extinguishing your debt, and more.   On today’s show, here’s some of what you’ll learn: Should I take a hit on my 401k to pay off debt? (4:24)Look for opportunities with your home equity line of credit. (7:24)How to extinguish your debt. (10:57)  If you are interested in any of the topics we discussed, please reach out and we would be happy to help you navigate your financial situation.   Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/

We have a lot to talk about today, so let’s jump into it. We read some articles recently about the travel industry and how people are getting back out there and traveling. Many of our clients have been doing some big trips. If you want to travel and get deals, we’ll share some insight on that topic. You’ll need to think about advanced planning and figure out how you’ll pay for the trip. We’ll also discuss banks and what to do with your cash. On today’s show, here’s some of what you’ll learn: How to plan travel and get deals. (7:00)Why you should be checking your bank on the heels of the Silicon Valley Bank failure. (12:06)The reality of home values. (19:10)Should you push back your retirement date if you haven't figure out much of your planning questions? (25:14)A horror story about why you need to do tax planning before doing a Roth conversion (28:48) Want to contact us? Website - https://smartmoneyquestions.com/ Email - info@smartmoneyquestions.com Want to work with us? Find out how we can help: https://smartmoneyquestions.com/work-with-matt/