Ep. 28 Shocking Statistics on Generational Wealth
Release Date: 02/10/2023
Ep. 80 Top 5 Considerations When Hiring a Financial Advisor
Red Barn Financial Podcast
When choosing a financial advisor, there are a number of questions you want to ask. In this episode of the Red Barn Financial Podcast, Sean Moran answers the Top 5 questions: Is the advisor licensed? Are they truly a financial advisor or are they an insurance agent or coach that gave themselves a fancy name? Don't just pick the first advisor you meet. Make sure you interview a few to determine if you are picking the right one. Just like you wouldn't buy the first house you looked at without seeing a few more, make sure you know you are picking the best advisor...
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Ep. 79 Does the Bible Talk About Money?
Red Barn Financial Podcast
In this episode of the Red Barn Financial Podcast, Sean Moran talks about the areas in the Bible where it speaks about money. This is only scratching the surface, because there are over 2,500 verses that talk about money. If you feel convicted to do what God is calling you to do with your money, specifically being a good steward of what has been given to you, reach out. We can help you with budgeting, intentional giving, putting money away for the future and tax advantaged ways to give. Disclaimer: This podcast is for informational purposes only. It is not tax, legal or...
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Ep 78 Why Drawing From Your Retirement Account Early is a Costly Mistake
Red Barn Financial Podcast
Ep 78 Why Drawing From Your Retirement Account Early is a Costly Mistake Many times people take money out of their retirement account early so they can pay bills, because they changed jobs or for "easy access" to their money. In this episode of the Red Barn Financial Podcast, Sean Moran shares why this could be a costly mistake, but in the current year as well as in future years. This includes the tax cost, the penalties and the fact that you will not have the money there for your future when you take it out today. Disclaimer: This podcast is for...
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Ep. 77: Taxes Done? Youre NOT Finished Yet! Heres Why
Red Barn Financial Podcast
Taxes Done? You're NOT Finished Yet! Here's Why When you finish your tax return you want to understand what happened, what you can do for the next year to save taxes or to strategically prepare yourself for future years. In this episode of the Red Barn Financial Podcast, Sean will talk about what to look for on your tax return and things that you could look into further so that you might potentially pay less taxes in future years. Sean Moran is a financial advisor specializing in retirement planning, college planning, life insurance, disability insurance, Long Term Care insurance and a...
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Ep. 76 - When Spending More Saves You Money
Red Barn Financial Podcast
In this episode I share some times when spending more money will save you money. As a financial advisor, I often advocate for people to save money for their future, but there are many times when spending more money can save you money in the long run. One example is for a quality "once in a lifetime" experience. There is a balance between spending the most and the least you can possibly spend, but there are times to splurge a bit. Another place can be quality items like good shoes that last a long time or a good car that will not fall apart. I also share bonus material on how you can...
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Ep. 75 Taking Money out of your Retirement Account Can Destroy Your Financial Life
Red Barn Financial Podcast
Ep. 75 Taking Money out of your Retirement Account Can Destroy Your Financial Life In a podcast by Sean Moran, a financial advisor with Red Barn Financial, discourages people from withdrawing money from their retirement accounts before reaching the age of 59 and a half due to tax penalties and the added tax cost. The podcast discusses two real-life scenarios where people made such mistakes. In the first scenario, a couple withdrew $700,000 from their retirement account to buy a vacation home. This resulted in a 10% penalty and pushed them into a higher tax bracket. In the second scenario, a...
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Ep. 74 - Your Home As a Financial Tool - A Conversation with Jackson Matheson
Red Barn Financial Podcast
In this Episode of the Red Barn Financial Podcast I get the opportunity to interview Jackson Matheson of the Wood Group of Fairway Mortgage. He shares his experiences and the reason why he is passionate about the Home Equity Conversion Mortgage (HECM). Jackson shares why this tool gives you an opportunity to make sure you are financially secure in retirement and opens up one of the largest assets most of us have to use to fund things we need in retirement. Jackson's contact information: Jackson Matheson Loan Officer NMLS# 1978746 ...
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Ep. 71 Get Rid of the 401K To Save Social Security?
Red Barn Financial Podcast
A recent study by Boston College recommends ending 401(k) and IRA tax benefits in order to use the extra tax revenue to fund Social Security. I share in this podcast episode why I think that could be a bad idea that would lead to more issues for retirees in the future, which would mean simply transferring the problem to the future. The Center for Retirement Retirement Research at Boston College said that about $185 billion of more revenue would be collected by the IRS each year if people couldn't deduct their 401(k) or IRA contributions. I believe this would result in less savings...
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Ep. 70 What is Your Business Really Worth? A Conversation with Russell Carriere
Red Barn Financial Podcast
In this episode of the Red Barn Financial Podcast I have a great conversation with business broker Russell Carriere of First Choice Business Brokers. Russ is a 30 year entrepreneur who helps business owners understand what their businesses are worth and how to position a business for sale in the near or distant future. Russ can be contacted here: Website: email: Phone: To reach out to Sean Moran at Red Barn financial please call 615-619-6919 or email Learn more about Red Barn Financial on our website ...
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Ep. 69 Where you put your money is as important as how much you have
Red Barn Financial Podcast
Ep. 69 Where you put your money is as important as how much you have. You want to be tax efficient with your money so the particular account you put different assets in will drive whether they are efficiently taxed or not. In this episode of the Red Barn Financial Podcast I will share some factors you need to consider when you are choosing where and with what assets to invest. For example, if you put dividend paying stocks in your brokerage account you will pay taxes on the dividends in the year you earn them. If you put them in an IRA then you defer the taxes to a future...
info_outlineDid you know that 70% of wealth is lost by the second generation and 90% is lot by the third? In this episode of the Red Barn Financial Podcast, I dig into reasons why that may be the case.
Generational wealth is wealth that is handed down from one generation to the next and it is often squandered. We will talk about this today and I invite you to share your thoughts and perspective on the topic.
Proverbs 13:22 is the reference to leaving wealth to your grandchildren. The parable of the Prodigal Son in Luke 15:11-32.
Disclaimer: Information in this podcast is for educational and informational purposes only and is not tax, legal or investment advice.
If you would like to speak with a financial advisor, please reach out to us at www.redbarnfinancial.com or call 615-619-6919