In this conversation, Joe Murphy discusses the potential impact of the Tax Cuts and Jobs Act (TCJA) sunsetting in 2026 and how it can affect tax rates. He explains the concept of Roth conversions as a strategy to take advantage of current tax rates before they potentially increase in the future. Joe also discusses the factors to consider when deciding whether a Roth conversion is a good idea, such as income level, tax bracket, and future retirement plans. He emphasizes the importance of tax planning and working with a financial advisor to make informed decisions. The conversation also touches on other topics such as IRA contributions, investment allocation, and Social Security. Call or text 800-930-5905. Visit MWMFinancial.Tax to learn more.See omnystudio.com/listener for privacy information.

In this episode, Joe Murphy discusses the impact of inflation on retirement planning. He explains how inflation works and the decrease in purchasing power it causes over time. He emphasizes the importance of planning for inflation and diversifying investments to mitigate risk. Joe also highlights the need for an emergency fund and the role of a financial advisor in navigating the current volatile market. They explore the historical context of rate cuts and the risks associated with cutting rates too quickly. They also emphasize the importance of reviewing investment allocations and considering diversification to protect retirement assets. The conversation then shifts to the topic of charitable giving and strategies for maximizing tax efficiency. Call or text 800-930-5905. Visit MWMFinancial.Tax to learn more.See omnystudio.com/listener for privacy information.

In this conversation, Joe and Steve discuss various financial topics, including the national debt, retirement planning, and investing options. They emphasize the importance of addressing the national debt and holding the government accountable for its spending. They also provide insights on retirement planning, suggesting that retirement is more about income than age and discussing the benefits of annuities and combining 401k plans. The conversation concludes with a Q&A session, where they answer questions about investing options and Social Security.  Call or text 800-930-5905. Visit MWMFinancial.Tax to learn more.See omnystudio.com/listener for privacy information.

The conversation highlights the importance of reliable information in the financial industry, especially in the age of social media. It warns against scams and misinformation that can be spread through platforms like TikTok. The need for financial education is emphasized, particularly in schools, to empower individuals to make informed decisions. The discussion also touches on the balance between regulation and censorship in the digital space. The impact of social media on society and the dangers of unregulated content are explored. The conversation concludes with advice on retirement planning, including 401(k) rollovers and strategies for long-term savings. Call or text 800-930-5905. Visit MWMFinancial.Tax to learn more.See omnystudio.com/listener for privacy information.

The financial wellness of the economy is a common concern among Americans. The Federal Reserve is playing a waiting game on rate cuts, considering factors such as inflation and market volatility. The concept of a soft landing, avoiding a recessionary GDP backtracking, is discussed. The Fed's guessing game and the concept of super core inflation are explored. The rising credit card debt and financial struggles of Americans are highlighted. The importance of financial literacy and the need for financial planning and retirement readiness are emphasized. Call or text 800-930-5905. Visit MWMFinancial.Tax to learn more.See omnystudio.com/listener for privacy information.

In this episode, Joe Murphy discusses the taxation of various sources of income in retirement. He debunks the misconception that there are no taxes in retirement and highlights the importance of tax planning. Joe explains how Social Security benefits, pensions, interest-bearing accounts, dividends, and retirement accounts are taxed. He also emphasizes the tax benefits of life insurance proceeds and provides insights into the taxation of annuities and home sales. Additionally, Joe encourages listeners to create a bucket list and shares the significance of incorporating personal growth goals into retirement planning. Call or text 800-930-5905. Visit MWMFinancial.Tax to learn more.See omnystudio.com/listener for privacy information.

Celebrities often face financial challenges that require the assistance of a financial advisor to help manage their wealth and long-term financial stability. In this episode, Joe Murphy and Steve Sedahl discuss cautionary tales from Hollywood, including the financial mistakes of celebrities like Steve McNair and Billy Joel. They also explore the You Earned It, You Keep It Act, which proposes revisions to social security. Additionally, they discuss a Medicare fraud scheme and the importance of tax planning, estate planning, and asset allocation in retirement. Call or text 800-930-5905. Visit MWMFinancial.Tax to learn more.See omnystudio.com/listener for privacy information.

Joe Murphy and Steve Sedahl engage in casual conversation and emphasize the value of open communication. They discuss the recent Labor Department jobs report and question the accuracy of government data. The conversation shifts to the uncertainty in the global economy and the need for careful decision-making. They address the challenge of getting spouses involved in financial planning and caution against strong-arm tactics. The hosts conclude by offering an introductory call for listeners to discuss their concerns and retirement planning in the current economic environment. Call or text 800-930-5905. Visit MWMFinancial.Tax to learn more. See omnystudio.com/listener for privacy information.

In this episode of Wealth Health Radio, Joe and Steve discuss the parallels between football and retirement planning. They cover offensive strategies such as understanding goals, budgeting, learning about different investment vehicles, diversifying among asset classes, and building wealth. They also discuss defensive strategies including preventing gaps in your plan, having an emergency fund, and creating an estate plan. Additionally, they touch on special teams strategies such as managing charitable giving and planning for Social Security. The episode concludes with a discussion on building a game plan for retirement success. Call or text 800-930-5905. Visit MWMFinancial.Tax to learn more. See omnystudio.com/listener for privacy information.

On today's show, Joe Murphy discusses important considerations for building a modern, holistic, and personalized retirement plan. The conversation covers topics such as determining enough for retirement, inventorying accounts and taxation, moving 401k to personalized IRA, understanding Social Security, utilizing health savings accounts (HSAs), choosing health insurance, using annuities for retirement income, reviewing budget and spending plan, considering Roth conversions, spending money from various accounts, maintaining asset allocation, paying off mortgage and estate planning, upgrading car or home maintenance, changing 529 beneficiaries, managing RMDs and taxable income, and analyzing Bitcoin and Jamie Dimon's comments. Call or text 800-930-5905. Visit MWMFinancial.Tax to learn more. See omnystudio.com/listener for privacy information.

On this episode of Wealth Health Radio, Joe Murphy discusses various topics related to retirement planning and unexpected life events. The conversation covers boomerang kids and the sandwich generation, downsizing and managing expenses, taxes in retirement, Hertz selling its EV fleet, saving for retirement and overlooking important factors, wealth transfer and estate planning, retirement benefits and portfolio composition, income planning, and sequence of returns. Joe Murphy and Steve Sedahl also answer questions from listeners about protecting principal in retirement, investment options for Roth IRAs, and Roth IRA conversions. That and much more on Wealth Health Radio with Joe Murphy. Call or text 800-930-5905. Visit MWMFinancial.Tax to learn more. See omnystudio.com/listener for privacy information.

A new year with new resolutions. The question is, how long will they last. Joe Murphy has some ways you can execute and succeed at improving your finances and reaching your financial planning goals in 2024. Do you know your Social Security risk score? Joe can help you find out.  That and much more on Wealth Health Radio with Joe Murphy. Call or text 800-930-5905. Visit MWMFinancial.Tax to learn more. See omnystudio.com/listener for privacy information.

To kick off 2024 Joe Murphy breaks down some strategies on helping you get to retirement. Topics include: longevity risk, healthcare costs, overestimating investment income and being too conservative with your investments. That and much more on Wealth Health Radio with Joe Murphy. Call or text 800-930-5905. Visit MWMFinancial.Tax to learn more. See omnystudio.com/listener for privacy information.

You know about what it costs to run your household on a monthly basis and you know you should be padding that emergency fund. But are you? It’s the little things that can cause the biggest problems in retirement. Joe Murphy outlines how to avoid costly mistakes and get your financial health in order for 2024. That and more on this episode of Wealth Health Radio with Joe Murphy.  Call or text 800-930-5905. Visit MWMFinancial.Tax to learn more. See omnystudio.com/listener for privacy information.

As we enter 2024, it's crucial to assess your budget, debt, and investments in alignment with your financial objectives. To help kickstart the process Joe Murphy has put together steps to help you get started. That and more on this episode of Wealth Health Radio with Joe Murphy.  Call or text 800-930-5905. Visit MWMFinancial.Tax to learn more. See omnystudio.com/listener for privacy information.

Turning 50 puts you firmly in the financial red zone. There are also benefits to turning another year older. Joe Murphy digs into the most common perks that kick in once you turn 50, 59 1/2 and 65. There’s plenty of talk about the future of Social Security and Joe has an opportunity for you to see if you could be subject to a reduction in your benefit. That and more on this episode of Wealth Health Radio with Joe Murphy.  Call or text 800-930-5905. Visit MWMFinancial.Tax to learn more. See omnystudio.com/listener for privacy information.

If you’re in the ‘financial red zone’—that’s five to ten years away from retirement, it’s more important than ever to make sure your plan is in place. Joe Murphy has some tips to help shore up that game plan to help you score big in retirement. Joe gives you an opportunity to get your own Social Security risk score. That and more on this episode of Wealth Health Radio with Joe Murphy.  Call or text 800-930-5905. Visit MWMFinancial.Tax to learn more. See omnystudio.com/listener for privacy information.

A new report graded the retirement systems of countries across the world and America earned a C+...Joe Murphy shows how you can build an A+ retirement plan. Worried about Social Security being there for you? Joe gives you an opportunity to get your own Social Security risk score. He talks about the Robert Shiller book Narrative Economics and how emotions can move the market. The rules for RMD’s have changed. Joe outlines what’s different this year and going forward. That and more on this episode of Wealth Health Radio with Joe Murphy.  Call or text 800-930-5905. Visit MWMFinancial.Tax to learn more.  Here's a link to Narrative Economics by Robert ShillerSee omnystudio.com/listener for privacy information.

There are many reasons why folks forgo working with a financial professional. Joe Murphy breaks down 10 of the most common reasons folks resist professional help while building their financial plans and explain exactly how a financial advisor would be able to help. That and more on this episode of Wealth Health Radio with Joe Murphy.  Call or text 800-930-5905. Visit MWMFinancial.Tax to learn more. See omnystudio.com/listener for privacy information.

According to a recent Northwestern Mutual study, close to half of respondents said the lack of retirement savings are responsible for their financial instability. Joe Murphy dives into the particulars and offers tips to help you navigate the road to retirement with security and stability. That and more on this episode of Wealth Health Radio with Joe Murphy.  Call or text 800-930-5905. Visit MWMFinancial.Tax to learn more. See omnystudio.com/listener for privacy information.