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On today’s show, we’re going to be talking about financial planning in President Biden’s America. We’re past his 100th day in office, so let’s take a look at the impacts in financial planning and the markets.   Read more and get additional financial resources here: https://www.moneyandclarity.com/2021/05/ep-164-financial-planning-in-bidens-america/    What we discuss on this episode:  3:17 – Taxes 7:50 – Infrastructure 14:15 – Capital gains 17:37 – Climate

Comprehensive planning takes care of every aspect of retirement, but without it there are areas that could quickly become a calamity. Today we’ll identify five key areas where people don’t pay enough attention and end up flirting with disaster.   Read more and get additional financial resources here: https://www.moneyandclarity.com/2021/04/ep-163-flirting-with-financial-disaster/   What we discuss on this episode:  2:24 – Out of date legal documents 7:21 – Incorrect beneficiaries 10:15 – Ticking tax time bomb 14:43 – Long-term care expenses 19:12 – The 60/40 portfolio

If you’re getting prepared to file your 2020 taxes and looking ahead to the changes that might be coming this year and beyond, we’ll run through some of the key items from a very unique and challenging last 12 months.   Read more and get additional financial resources here: https://www.moneyandclarity.com/2021/02/ep-162-tax-tips-for-2021/    What we discuss on this episode:  1:45 – Stimulus payments 5:31 – Tax brackets 7:55 – Extra deductions for charity 10:36 – Required Minimum Distributions 12:55 – Home office deductions 15:14 – Filing advice 17:54 – State specific changes 18:34 – How our team assists with tax planning

As we kick of the new year, let’s talk about what statistics tell us about retirement. We found five specific stats that will surprise you and make you realize that financial planning needs to be a priority in 2021.   Read more and get additional financial resources here: https://www.moneyandclarity.com/2021/01/ep-161-5-important-retirement-statistics-worth-your-time/    What we discuss on this show:  1:51 – Have clients been nervous about the start to 2021? 3:10 – Breaking down five important statistics 3:52 – Only 17% of American workers are confident they’ll have enough in retirement. 7:30 – The average 65-year-old woman has an average life expectancy of 20.7 more years. 9:28 – Some issues that come up for women later in life 12:30 – 16.5% of country is over age of 65 17:09 – The average retiree will spend $295,000 on out-of-pocket medical expenses during retirement. 21:57 – 90% of people over 60 say a written plan is important but only 20% have one.

Dan Cuprill is back on the show today to help us sort out the economic impact the election will have as we move into a new year. With talk of the Green New Deal, student debt forgiveness, and tax changes, we’ve gotten a lot of questions about what’s next for investors. Today we’ll try to ease your mind and provide some clarity.   Read more and get additional financial planning resources: https://www.moneyandclarity.com/2020/12/ep-160-economic-outlook-following-the-election/    What we discuss on this show:  0:42 – Dan Cuprill back with us today 2:13 – What does the election mean for investors right now? 7:15 – Dan’s advice to everybody 9:04 – Unexpected bad news is what impacts the market 11:56 – Over time it doesn’t really matter 13:31 – This is why diversification is so important 14:33 – Possible economic policies of new administration 18:16 – Preparing for increased taxes 22:00 – What can we be doing right now as investors? 23:48 – Dan’s outlook for 2021 25:50 – Stay positive 26:57 – How to discuss further with Dan

Much like technology becomes outdated each year, retirement planning strategies begin to lose their effectiveness over time. Today we’ll look at five different planning ideas that have been used quite a bit before but might not have the same impact in today’s economy and market conditions.   Read more and get additional financial resources here: https://www.moneyandclarity.com/2020/09/ep-159-obsolete-retirement-planning-ideas/    What we discuss on this show:  3:09 – Let’s start with the 4% Rule 6:55 – The 10-5-3 Rule   8:40 – Move from stocks to bonds as you get older 11:20 – Get to $1 million in your retirement account and your ready for retirement.   13:17 – You’ll need less income in retirement than you needed while working.   15:56 – What’s the process for someone wanting to meet and work on these items?  

Like it or not, there are certain financial challenges that women are more prone to face. Why is that? What can you do about it?   Read more and get additional financial resources here: https://www.moneyandclarity.com/2020/08/ep-158-what-financial-challenges-do-women-face-more-often/    On today's show: 1:06 - What financial issues are particularly challenging for women? 1:47 - What level of engagement do most women have in their financial plan? 4:06 - Why do so many retired women find themselves in difficult financial situations? 6:15 - What specific challenges are faced by widowed women? 7:39 - What should a husband do to prevent a mess being left behind for his wife? 8:44 - How has Nikki helped women facing retirement and financial stress alone?

We often find that people are clinging to certain ideas or beliefs that end up giving them a sense of false hope about their retirement. It’s a dangerous position to be in. Let’s explore some of the faulty thinking that ultimately leaves people underprepared for retirement.   Read more and get additional financial resources here: https://www.moneyandclarity.com/2020/07/ep-157-retirement-ready-are-you-clinging-to-false-hope/    Today's show schedule:  0:56 – How’s life in Ohio right now? 2:48 – What we’re talking about today. 3:36 – The mindset that you’ll be ready to retire when you hit a certain number. 8:15 – Belief that your income needs are going to decrease when you retire.  10:40 – Assuming that an inheritance will make up for any shortfalls in retirement. 13:27 – You’re going to ‘just figure it out’ in retirement.    14:23 – Assuming that the income estimate on our 401k statement is accurate.  16:53 – Take us through the Money & Clarity for crafting a plan.

Maybe you know you need to contribute somewhere or you’ve always contributed to a traditional IRA but have been wondering about the Roth. Nikki explains the similarities and differences between the two and explains the long-term benefits. Show Notes & Resources: https://www.moneyandclarity.com/?p=27798 Timestamps: 1:11 - Nikki shares what her family is up to. 2:39 - There are a lot of differences between the traditional and Roth IRA. 4:00 - When you pay taxes on the Roth IRA and why that matters. 4:40 - What do the Roth IRA and traditional IRA have in common? 6:43 - Why have people have contributed to traditional IRAs instead of a Roth IRA? 9:13 - Why can a Roth IRA be so powerful? 11:34 - When is a Roth IRA a better choice? 12:48 - When should you contribute to a traditional IRA? 14:31 - Your advisor should be able to help determine which is best every year.

As investors, we’re always looking out ahead towards our goals in retirement so we’re constantly striving to move forward. But doing that can lead to us forgetting about the importance of managing what we already have. Let’s look at the important assets in our portfolio that might get overlooked and why it’s important to be evaluating your positions.   Read more and get additional financial resources here: https://www.moneyandclarity.com/2020/05/ep-155-are-you-paying-enough-attention-to-your-largest-assets/    Today's show schedule:  0:59 – How is Nikki dealing with the pandemic.  2:37 – Maybe the most overlooked thing is an old 401k. 3:25 – A surprising stat that shows we’re not in tune with our investments. 6:04 – Your house and considerations you should be making about this asset. 8:57 – Social Security - what should you be thinking about here? 11:21 – Improving your future savings potential 13:28 – Should you combine your smaller accounts? 15:09 – Diversifying is important but many times clients aren’t overlapping investments. 16:32 – How does Nikki and the team help clients manage these investments?

Over the past month, we’ve seen financial markets react to potential economic fallout from the coronavirus pandemic and it’s happened at an unprecedented pace. But how surprised should we be by this significant reaction? Dan Cuprill joins the show as we talk about the lessons we’ve learned from history, what this latest crash has taught us, and where we might go from here financially.   Read more and get additional resources here: http://moneyandclarity.com    Today's rundown:  0:46 – We’re joined by Dan Cuprill once again. 1:22 – Every 100 years there seems to be a new pandemic. 2:32 – This is affecting us all in many different ways but it’s taught us one important lesson. 5:11 – You can use history to see how markets react. 6:38 – Be calm because this is typically an investing opportunity. 7:44 – Bad news happens but you have to ask yourself this question to determine how markets will react. 8:15 – Watching cable news 24/7 isn’t going to help anybody. 10:12 – Panic starts to set in and trying to time the market will really hurt you.  12:39 – Here’s what concerns Dan within the industry. 14:49 – This is where good financial advisors earn their keep.  15:59 – How does Dan see this playing out over the next few months. 18:11 - Don’t make actions that turn out to be irrevocable in hurting you. 19:41 - A deal to make with your grandchildren. 21:21 - Over a period of time this will look normal, which is why you stick to a plan.

No one could predict how much of an impact the coronavirus would have on the market, but it’s been a rough month for everyone. Nikki will share her thoughts on this unprecedented time and talk about the conversations they’re having around the office. With all the speculation and uncertainty, now is a great time to revisit the financial truths that should be guiding your financial planning.   Read more and get additional resources here: https://www.moneyandclarity.com/2020/03/ep-153-coronavirus-and-solid-financial-truths/    Today's rundown:  0:53 – It’s an unprecedented time in the world right now. 2:45 – The economic side of the Coronavirus has already had a huge impact on many people. 4:34 – Everything has happened so quickly and unexpectedly. 6:36 – What conversations are happening in the office right now with clients? 9:53 – Let’s shift to our main conversation on solid financial truths. 10:38 – The first truth: TV can be our biggest enemy. 13:46 – The second truth: You rarely make good financial decisions when you act emotionally.   16:53 – The third truth: The market always moves in cycles. 18:40 – The fourth truth: You aren’t as risk tolerant as you think you are. 20:43 – The fifth truth: There’s no magic bullet. 22:53 – Nikki shares a message to listeners regarding the current state of the market.

After a short break, the podcast is back with some news! Dan Cuprill has handed the baton to Nikki Earley and she’s taking over the show moving forward. Today we’ll introduce you to the Certified Financial Planner and get to know who she away from the office. We’ll also talk about the future of the show as we make the transition to a new host.     Check out the show notes and get additional resources here: https://www.moneyandclarity.com/2020/02/ep-152-meet-the-new-host-nikki-earley/    Today's show rundown:  0:57 – The podcast might sound a little different today as Nikki Earley is taking over hosting duties from Dan Cuprill. 2:03 – Nikki updates news from around the office and the reason behind the name change. 3:09 – Nikki tells the story about how she and Dan originally met. 6:52 – What do you enjoy most about what you do at Money and Clarity? 8:15 – Did you make any new year’s resolutions this year? And how’s your progress going? 8:51 – Dan gave her a new book recently about organizing your life called The Bullet Journal Method 10:47 – What do you like best about working in Cincinnati and living in Dayton?   13:00 – What does a typical weekend look like for Nikki? 14:48 – Nikki has a cooking background so what dish is she best known for? 15:45 – Bengals fan? Who else do you pull for? 16:35 – The Dayton community is also excited about the Flyers basketball team right now.   18:07 – The goals for the podcast as we relaunch the show.  

We get the question quite a lot about whether someone needs a financial advisor so Dan Cuprill shares a real-life example of a couple he worked with to provide a case study for how the process plays out. We’ll call them the Parkers, and we’ll walk through their first meeting, goals, needs, and how we decided they were a fit for an advisor.----more---- Today's show:   0:50 – Why it’s so important to have a plan and why we’re talking about that on this episode. 3:03 – Why I don’t off my advisor services to everyone.   3:55 – Are you prepared to stick to the plan through the ups and downs? 4:54 – Let’s take you through a case study using actual clients. We’ll call them the Parkers. 5:23 – Who are the Parkers? 7:46 – This is the question I start off by asking every potential client that comes into the office and what I found out about the Parkers. 10:05 – There was fear from the Parkers despite having a sizeable net worth. 11:04 – Here’s where a good financial comes in to play. 11:50 – Here are their goals for retirement but they had an issue with their children. 15:14 – Another big issue is they have family in a nursing home with Alzheimer’s and they don’t want to burden their children with that. 17:06 – Another interesting thing that came up in our discussion was the use of annuities and whether they should utilize them. 21:38 – If a client is just about the numbers, we’re not the firm for them. Those are irrational expectations. 22:51 – The Parkers were seeking peace of mind and a sense of freedom. That’s who can benefit from holistic planning. 24:03 – This is where your plan needs to focus. 25:45 – We had a design meeting with the Parkers to let them decide if their current plan met their needs. Once that was done, we then wrote the plan. Read more here: https://www.moneyandclarity.com/2019/09/ep-151-meet-the-parkers-a-case-study-for-whether-or-not-you-need-an-advisor/

No one wants to think about death but thinking about how your assets will be handled when you’re gone is a necessary part of life. Effective estate planning can leave you in control of your hard-earned money and investments, but it can also make the process clear and efficient for your heirs. Using the checklist provided today will help you make all the considerations you need for your estate plan. Read more about this topic and see the show notes here. ----more---- Take a look at the rundown for this episode:  1:00 – Why are we talking about death? 3:54 – If you don’t have a written estate plan yet, well there’s good news and bad news. 5:08 – Checklist Item #1: When was the last time you had an estate plan done? 7:35 – Do you have an appropriate power of attorney and/or backup for that? 8:40 – Your assets won’t necessarily pass according to your will. Here’s why. 9:58 – Story about a child of a client who recently dealt with an inheritance that didn’t pass through the trust like they expected. 10:59 – Should I have a will or should I have a trust? 12:39 – How you can avoid probate without a trust. 14:16 – Making sure your assets are titled correctly. 15:51 – Discussion turns to beneficiary designation. 16:33 – Life milestones that become good times to update your estate plan. 17:42 – Taxes at death that could impact heirs. 20:52 – Who can you go see for estate planning? 22:01 – Expected costs for estate planning and why paying a little more might benefit you.

Social Security benefits can be a valuable source of income when you reach retirement but deciding when to file can be difficult to determine. Should you start receiving your check at age 62 or hold out for a larger sum at age 70? We consider all of these factors and explain what you need to know on this episode. Read more on this topic and see the show notes here.  Click the link to receive your Retirement Rescue Toolkit: https://matsonandcuprill.leadpages.co/free-tax-toolkit/ Here's a full rundown for this episode:  1:53 – Introducing today’s topic: Social Security and what you need to know 3:00 – The questions everyone asks, ‘When should you file?’ Here’s what you should consider. 4:36 – The system rewards you for waiting, but at what age is your break even point? 5:53 – Every situation is different but you need to figure out your sources for income. 7:18 – Why it’s important to get a Social Security timing analysis. 8:24 – Another factor to consider if you plan on relying heavily on savings. 9:08 – Quick of review of when you should file and things you should be considering.

"There are no stupid questions, just the stupid people who ask them." That famous quote speaks to the heart of this edition of the podcast. Join us as we seek to educate you about the financial world and answer five of the most popular financial questions we receive on a regular basis. Don't worry, these are actually pretty complex questions. Click the link to receive your Retirement Rescue Toolkit: https://matsonandcuprill.leadpages.co/free-tax-toolkit/ Click the link for more in-depth reading in a recent blog post: https://matsonandcuprill.com/stupid-questions/

The Bern is back, and it seems the self-avowed Socialist movement is on the rise. Join us as we unpack why managed economies simply won't ever work. Click the link to receive your Retirement Rescue Toolkit: https://matsonandcuprill.leadpages.co/free-tax-toolkit/ Click the link for more in-depth reading in a recent blog post: https://matsonandcuprill.com/the-bern-is-back/

Nobody likes to think about dying, but death is an inevitable reality. Discover what you need to do to make sure you loved ones are cared for when you die. Click the link to receive your Retirement Rescue Toolkit: https://matsonandcuprill.leadpages.co/free-tax-toolkit/ Click the link for more in-depth reading in a recent blog post: https://matsonandcuprill.com/ep-146-dealing-with-death/

You probably have several reasons for choosing one advisor over another, but are they the right reasons? Discover why you should hire a particular advisor. Click the link to receive your Retirement Rescue Toolkit:https://matsonandcuprill.leadpages.co/free-tax-toolkit/ Click the link for more in-depth reading in a recent blog post: https://matsonandcuprill.com/ep-145-the-right-reasons-to-hire-a-financial-advisor/