Which Retirement Accounts Should You Withdraw from First?
Money Wisdom
You’ve climbed the mountain and now it’s time to come down. In retirement, the question shifts from “Where should I invest?” to “Which account do I take money from first?” It’s not just about risk, but timing, taxes, and long-term flexibility. In this episode, Nick and Jake walk through the three major account types, pre-tax, Roth, and after-tax, and explain how withdrawing from the wrong one at the wrong time could cost you thousands. They discuss sequence of returns risk, why market losses in early retirement are so dangerous, and how to avoid "catching a falling knife" by...
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What To Do In A Down Market
Money Wisdom
The headlines are loud, the markets are messy, and your gut might be telling you to do something — anything — right now. But what should you actually do when your portfolio takes a hit? In this episode, Jake and Nick offer advice for navigating a down market without making costly mistakes. They explain why emotional reactions often lead to regret, and how fear-based decisions, like pulling out of the market, can do more harm than good. That’s the value of having a financial plan that aligns your risk level with your timeline and needs. The markets may be shaky, but your plan doesn’t...
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Is My Social Security Income Taxable?
Money Wisdom
Social Security may be one of your most reliable retirement income sources, but it’s also one of the most misunderstood when it comes to taxes. Many retirees are surprised to learn that yes, Social Security can be taxable, depending on your overall income. In this episode, we break down how the rules aren’t always as straightforward as they seem. Here’s what we discuss in this episode: 💵 When Social Security becomes taxable 📊 What MAGI thresholds really mean 🌎 State rules that may surprise you ⏳ How timing affects your benefit 📈 Why tax planning starts before you file...
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How to Plan for a 30-Year Retirement
Money Wisdom
Retirement isn’t just the end of your working years, it’s the beginning of what could be the most financially demanding third of your life. With people living longer than ever, planning for a 30-year retirement is no longer just smart, it’s essential. In this episode, Jake and Nick address how the old model of relying solely on Social Security and pensions doesn’t hold up anymore, especially when inflation, healthcare costs, and market volatility enter the picture. They also discuss how to build a retirement plan that adapts to every stage, from the energetic “go-go” years to the...
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The Retirement Tax Trap No One Warned You About
Money Wisdom
Most people go into retirement assuming their taxes will drop, but what if that assumption sets you up for a nasty surprise? In this episode, Jake and Nick unpack the “tax trap” that catches countless retirees off guard. It’s a hidden pitfall that turns decades of diligent saving into unexpected tax bills when you finally tap into your nest egg. They will reveal how common retirement strategies, like deferring taxes through 401(k)s and IRAs, might backfire if not planned for properly. They also break down why general financial advice may not serve you well once you're within 10 years of...
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Financial Goals You Shouldn’t Overlook
Money Wisdom
When it comes to preparing for retirement, most people focus on the obvious goals of saving enough and building an emergency fund. But in this episode of Money Wisdom, Jake Doser, CFP®, CPWA® and Nicholas J. Colantuono, CFP® explore the deeper, often overlooked financial goals that truly make or break your retirement experience. It’s not just about hitting a magic number. It’s about assigning purpose to each dollar you’ve saved. Proper planning goes well beyond investments to include things like tax strategies, income planning, healthcare expenses, gifting, legacy planning, and even...
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How to Approach Finances in a Second Marriage Later in Life
Money Wisdom
Getting engaged later in life is an exciting time, but it requires different financial planning conversations. With blended families, different retirement timelines, and evolving goals, couples in this situation face unique challenges. Jake and Nick break down how your relationship with money changes as retirement nears and why your financial plan should evolve right alongside it. Here’s what we discuss in this episode: 📊 Your investments need a new job—income, not just growth 🏦 Assign purpose to each dollar to reduce risk and increase clarity ⏳ The closer you are to retirement,...
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How Often Should You Meet with Your Financial Advisor?
Money Wisdom
Establishing a solid relationship with a financial advisor is crucial for effective planning, but what does that look like in practice? Jake Doser, CFP®, CPWA® and Nicholas J. Colantuono, CFP® discuss the essential role that communication plays in the client-advisor relationship to help set expectations for the planning process. We received this question recently and wanted to open up the conversation so everyone can glean a little information from it. We’ll pull back the curtain on what ongoing communication looks like at Johnson Brunetti, with clients typically receiving ongoing...
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Understanding Long-Term Care Insurance Options
Money Wisdom
is a significant concern for individuals approaching retirement because it’s an expense most people aren’t prepared for. Trying to prepare for it with insurance isn’t cheap, and people often ask us if it’s worth it. In this episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nicholas J. Colantuono, CFP® tackle this pressing issue by answering a listener’s question about long-term care insurance and the options available. Here’s what we discuss in this episode: 0:00 – Today’s question 1:39 – Reason it’s expensive 3:39 – Long-term care options 6:48 –...
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Ways to Lower the Taxes on Your RMDs
Money Wisdom
Preparing for required minimum distributions (RMDs) can be quite unsettling when you know withdrawals are coming and the IRS will be waiting. In this episode of the Money Wisdom podcast, we’re going to answer a question about what you can do from a planning standpoint when large RMDs are coming in retirement. This situation highlights a common issue: retirees often find themselves in due to large mandatory withdrawals, reducing their financial flexibility. So what are the strategies you can utilize to manage your tax requirements? Jake Doser, CFP®, CPWA® and Nicholas J. Colantuono,...
info_outlineInvestors will often use target date funds in a retirement account because they’re easy to use and align with the goal of retiring at a certain time. Is it really that simple or can you find alternatives that will provide better results for what you want to accomplish?
In the latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® take on another listener's question about the effectiveness of target date funds for retirement planning. As retirement approaches, many individuals are faced with the decision of whether to invest in these funds or move that money somewhere else.
For those interested in learning more about 401k strategies and retirement planning, we strongly suggest picking up the "Ultimate 401k Guide" by Eric Hogarth, CFP®. This guide offers insights into how 401ks work and provides practical advice for optimizing retirement savings and all you have to do is text GUIDE to 800-757-0436.
Here’s what we discuss in this episode:
0:00 – Today’s question
1:23 – Investment goals
2:52 – What target date funds do
5:55 – 401k accounts
8:05 – Retirement account types
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