Wisdom for Your Wisdom Years

Join Matt Murphy, CFP®, AIF®, and founder of Benetas Wealth, as he breaks down financial strategies, lifestyle hacks, and unconventional insights to help you build a retirement worth living—on your terms, with purpose and passion.

The Truth About Annuities: Types of Annuities & How They Work | Pt. 1 11/25/2025

The Truth About Annuities: Types of Annuities & How They Work | Pt. 1 In the first part of a three-part miniseries about annuities, Matt breaks down the different types of annuities and how they work. Matt frequently works with new clients who have annuities, and are unsure how exactly they work or how they fit into their financial plan (if they fit in at all). Unfortunately for many, annuities not only aren't a good fit for their circumstances, they can also carry high costs and heavy penalties for exiting early. In this series, Matt will teach you the basics of how annuities work, when and where they can fit into a portfolio, and important pitfalls to watch out for. Follow Matt Murphy Web: Newsletter: LinkedIn: Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser. Investments are subject to risk, including the loss of principal. Some investments are not suitable for all investors, and there is no guarantee that any investing goal will be met. Past performance is no guarantee of future results. Talk to your financial advisor before making any investing decisions. Annuities are long-term, tax-deferred investment vehicles designed for retirement purposes. Variable annuities are sold by prospectus. Please consider the investment objectives, risks, charges, and expenses carefully before investing. The prospectus, which contains this and other information, can be obtained from a financial professional. Be sure to read the prospectus carefully before deciding whether to invest. Case studies and examples throughout are hypothetical and for illustrative purposes only. No specific investments were used. Actual results will vary. Compound illustrations are not predictions of investment performance, and investment principal and interest are not guaranteed and are subject to market fluctuation. Exchange-traded funds (ETFs) are subject to market volatility, including the risks of their underlying investments. They are not individually redeemable from the fund and are bought and sold at the current market price, which may be above or below their net asset value. An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other governmental agency; although the fund seeks to preserve the value of the investment at $1 per share, it is possible to lose money. Nonbank deposit investments are not FDIC- or NCUA-insured, are not guaranteed by the bank/financial institution, and are subject to risk, including loss of principal invested. This material is intended for informational/educational purposes only and should not be construed as investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. Please contact your financial professional for more information specific to your situation. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Commonwealth Financial Network® does not provide legal or tax advice. You should consult a legal or tax professional regarding your individual situation. /episode/index/show/8c7f2181-ecf4-4a13-b020-b0573ec172df/id/39118245

Personal Finance 101: What You Need to Know in Your 20's and Beyond 11/11/2025

Personal Finance 101: What You Need to Know in Your 20's and Beyond In today's episode, Matt brings on his intern Matt Reynolds (another Matt!) to ask him a series of questions about personal finance and investing. Emergency funds, IRA's, 401(k), index funds and much more -- Matt gives a crash course in all the major concepts and investment vehicles you need to know to get started on the right foot in your financial life. As Matt emphasizes, it's not about getting everything right or saving a bunch of money right off the bat. It's about building good habits, getting in the habit of putting money away for the future while you're young so that it becomes second nature as you get older and life gets more complex. Follow Matt Murphy Web: Newsletter: LinkedIn: Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser. Investments are subject to risk, including the loss of principal. Some investments are not suitable for all investors, and there is no guarantee that any investing goal will be met. Past performance is no guarantee of future results. Talk to your financial advisor before making any investing decisions. Case studies and examples throughout are hypothetical and for illustrative purposes only. No specific investments were used. Actual results will vary. Compound illustrations are not predictions of investment performance, and investment principal and interest are not guaranteed and are subject to market fluctuation. Exchange-traded funds (ETFs) are subject to market volatility, including the risks of their underlying investments. They are not individually redeemable from the fund and are bought and sold at the current market price, which may be above or below their net asset value. An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other governmental agency; although the fund seeks to preserve the value of the investment at $1 per share, it is possible to lose money. Nonbank deposit investments are not FDIC- or NCUA-insured, are not guaranteed by the bank/financial institution, and are subject to risk, including loss of principal invested. This material is intended for informational/educational purposes only and should not be construed as investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. Please contact your financial professional for more information specific to your situation. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Commonwealth Financial Network® does not provide legal or tax advice. You should consult a legal or tax professional regarding your individual situation. /episode/index/show/8c7f2181-ecf4-4a13-b020-b0573ec172df/id/38958055

How Do Investment Funds Work? Understanding ETF's, Mutual Funds, and More with Jeromey Thornton of Avantis Investors 10/21/2025

Understanding Medicaid and VA Benefits in Retirement with Estate Attorney Jodi Murphy 09/12/2025

Tackling the Big Beautiful Bill with CPA Abbie McGuire 09/05/2025

How to Find a Trustworthy Advisor: Know Your Fiduciaries! 08/27/2025

How to Find a Trustworthy Advisor: Know Your Fiduciaries! The industry of financial advice is filled with both good and bad actors, and it can be difficult to determine which advisors can be trusted, especially if you have limited knowledge of financial jargon and industry practices. It's important how different advisors structure their practice, how they get paid, and what incentives they have for selling investment products. A key term is fiduciary, an advisor who is professionally and legally bound to act in the clients best interest. Other financial advisors are held to a lower standard, and often have incentives to sell you certain investment products that generate more fees for them, regardless of whether they are the best fit for you. In this episode, Matt explains how fiduciaries structure their fees, and how their incentives align with the client. He explains how other financial advisors held only to a "suitability" standard can steer you toward unnecessarily expensive or risky investments. He also outligns several questions you should ask an advisor before engagng their services, including: Are you a fiduciary 100% of the time? Do you ever act in a non-fiduciary capacity? How do you get paid? Commissions vs. fee-based, or both? Do you receive any incentives for the products you recommend? Asking the right questions is critical to make sure your advisor is aligned with your goals and interests, and not just theirs (or their employers). Follow Matt Murphy Web: Newsletter: LinkedIn: Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser. This material is intended for informational/educational purposes only and should not be construed as investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. Please contact your financial professional for more information specific to your situation. Investments are subject to risk, including the loss of principal. Some investments are not suitable for all investors, and there is no guarantee that any investing goal will be met. Past performance is no guarantee of future results. Exchange-traded funds (ETFs) are subject to market volatility, including the risks of their underlying investments. They are not individually redeemable from the fund and are bought and sold at the current market price, which may be above or below their net asset value. /episode/index/show/8c7f2181-ecf4-4a13-b020-b0573ec172df/id/37978855

Bringing Kids and Families Together Through Golf: US Kids Golf with John Kim 08/21/2025

How is Social Security Taxed? How the BBB Changes SS and Retirement Tax Strategy 08/11/2025

Don't Be Like Prince! Planning Wisely for the End with Estate Attorney Jodi Murphy 08/05/2025

Don't Be Like Prince! Planning Wisely for the End with Estate Attorney Jodi Murphy The artist known as Prince died in 2016, leaving behind a substantial estate including real estate, a vast catalog of released and unreleased music, and publishing rights... with no will in place or plans for how the estate should be divided up amongst his heirs. This is a surprisingly common occurence, and while you may not have an estate like Prince valued in the hundreds of millions, a little bit of planning and foresight can save your family and other loved ones a mountain of headache while they are grieving your death. In today's episode, Matt brings on estate attorney Jodi Murphy (also his wife!) to discuss the basics of planning for your estate after death, including the role of wills and trusts in dispensing your assets. They also discuss the importance of Power of Attorney documents, which specify who can act as the agent of your financial, medical, and legal affairs in the event you become incapacitated. Jodi notes some of the problems she has seen with legal documents purchased from websites like Legal Zoom, and explains the basics of how these documents work in life and death, and where seeking the counsel of a licensed attorney can help your family avoid problems in probate court after your death. Looking for an Estate Attorney? Book a consult with Jodi: Web: Email: Follow Matt Murphy Web: Newsletter: LinkedIn: Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser. This material is intended for informational/educational purposes only and should not be construed as investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. Please contact your financial professional for more information specific to your situation. Investments are subject to risk, including the loss of principal. Some investments are not suitable for all investors, and there is no guarantee that any investing goal will be met. Past performance is no guarantee of future results. Exchange-traded funds (ETFs) are subject to market volatility, including the risks of their underlying investments. They are not individually redeemable from the fund and are bought and sold at the current market price, which may be above or below their net asset value. /episode/index/show/8c7f2181-ecf4-4a13-b020-b0573ec172df/id/37675415

What Does Benetas Mean Anyway? Financial Wellness Put Into Practice 07/28/2025

How the "Big Beautiful Bill" Will Affect Roth Conversions and Your Taxes in Retirement 07/21/2025

The "Big Beautiful Bill:" What You Need to Know for Your Retirement 07/14/2025

Golf, Common Bonds, and Commonwealth with Kyle Martin, CFP 06/24/2025

Golf, Common Bonds, and Commonwealth with Kyle Martin, CFP As he has mentioned in previous episodes, Matt Murphy partners with Commonwealth Financial Network for their broker/dealer and support services. It is much more than a business relationship, however; there are family ties as well! To that end, Matt invites Kyle Martin of Murphy Financial Group, a third generation wealth advisor and Matt's cousin once removed. Like Matt, Kyle grew up with a deep love for golf, which he got through his grandfather (and Matt's uncle) Ken Murphy. Kyle and his grandfather played together often in his youth, where he learned not only to appreciate the game but also how to build and foster lasting relationships on the course. Kyle's grandfather Ken began his career in the FBI, but after starting a family quickly realized it wasn't where he wanted to be. So he jumped out on his own and blazed a trail in the wealth advisory space, where his natural inclination to friendliness helped him make connections and build trust with others. He soon joined the Medinah Country Club (outside of Chicago), where he realized he could both play golf and build realtionships for his business. What Kyle learned from his grandfather on the golf course is that golf is a way to bond with others, and demonstrate that you were a reliable and trustworthy person. The course isn't a place to do business per se, but to show others you're the type of person they want to do business with, and that type of trust is built through earnestly befriending others and finding ways to help them -- not through assertive "selling." Kyle and the other advisors at Murphy Financial Group adhere to these principles today, striving to treat people right and be responsive to their needs, and serve as a model for how good financial advice and wealth advisory should be done. Follow Matt Murphy Web: Newsletter: LinkedIn: Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser. This material is intended for informational/educational purposes only and should not be construed as investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. Please contact your financial professional for more information specific to your situation. Investments are subject to risk, including the loss of principal. Some investments are not suitable for all investors, and there is no guarantee that any investing goal will be met. Past performance is no guarantee of future results. Exchange-traded funds (ETFs) are subject to market volatility, including the risks of their underlying investments. They are not individually redeemable from the fund and are bought and sold at the current market price, which may be above or below their net asset value. /episode/index/show/8c7f2181-ecf4-4a13-b020-b0573ec172df/id/37133920

Rethinking the 4% Rule: How Much Money Do You Really Need to Retire? 05/21/2025

Rethinking the 4% Rule: How Much Money Do You Really Need to Retire? One of the old saws of the personal finance space is the "4% Rule," which states that in retirement, you can withdraw 4% of the value of your investment portfolio each year without risking running out of money by the end of your life (that is, your portfolio will continue to grow at a rate that offsets the amount you are withdrawing, such that it will never be drawn down to zero). If 4% of your portfolio is enough for you to live on, then congratulations! You can retire risk free. There's a few BIG but's here, which Matt Murphy, CFP, walks through in this episode. The 4% rule was formulated based on a number of assumptions, including past market performance trends from a particular window of time (1926-1976) that have not held since, especially with the interest rate environment of the last 25 years or so. The 4% Rule also assumes you will be spending money in retirment in equal chunks, i.e. you'll spend the same amount of money at age 67 as you will age 87. This assumption disregards the fact that many people like to spend thier early retirement years traveling, remodeling their house, moving somewhere closer to family, or perhaps downsizing -- all of which involve significant one-time expenses. There are many other problems with the 4% Rule that Matt walks through in the episode, but the important takeway is that retirement isn't about achieving a number -- it's about thinking through what you want to do with your life, coming up with a plan for how you will spend your money to make those goals happen, and then preparing for a variety of scenarios for when life inevitably throws a curveball in your wisdom years. Follow Matt Murphy Web: Newsletter: LinkedIn: Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser. This material is intended for informational/educational purposes only and should not be construed as investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. Please contact your financial professional for more information specific to your situation. Investments are subject to risk, including the loss of principal. Some investments are not suitable for all investors, and there is no guarantee that any investing goal will be met. Past performance is no guarantee of future results. Exchange-traded funds (ETFs) are subject to market volatility, including the risks of their underlying investments. They are not individually redeemable from the fund and are bought and sold at the current market price, which may be above or below their net asset value. /episode/index/show/8c7f2181-ecf4-4a13-b020-b0573ec172df/id/36656030

Roth Conversions & Qualified Charitable Distributions (QCD's) 05/08/2025

Your Physical 401k: Starting Strength Coach Pete Troupos Explains Why Strength Training Is the Most Important Physical Skill In Retirement 04/29/2025

Tariffs, Trade Wars... What Does It Mean for Your Portfolio? 04/23/2025

Tariffs, Trade Wars... What Does It Mean for Your Portfolio? The news is ablaze with tariffs and trade wars these days, as the Trump administration enacts tariffs, or taxes essentially, on foreign produced goods entering the US. The news being what it is, of course every outlet's take is biased toward whichever end of the political spectrum they support, with plenty of supposition and fearmongering. In today's episode, Matt Murphy cuts through the noise and explains in clear terms the ideas behind tariffs, the economic concept of comparitive advantage, and some of the challenges the US is facing with trade deficits and national debt. Most importantly, Matt reminds us that in the real world economics is complex, and no one really knows what the impact of tariffs will be. They do have real impact on companies and their profit margins, but companies operate in different competitive environments with different challenges and not all will feel the impact equally. Follow Matt Murphy Web: Newsletter: LinkedIn: Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser. This material is intended for informational/educational purposes only and should not be construed as investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. Please contact your financial professional for more information specific to your situation. Investments are subject to risk, including the loss of principal. Some investments are not suitable for all investors, and there is no guarantee that any investing goal will be met. Past performance is no guarantee of future results. Exchange-traded funds (ETFs) are subject to market volatility, including the risks of their underlying investments. They are not individually redeemable from the fund and are bought and sold at the current market price, which may be above or below their net asset value. /episode/index/show/8c7f2181-ecf4-4a13-b020-b0573ec172df/id/36244575

How to Manage Your Cash Flow in Retirement 04/14/2025

Living Your Wisdom Years to the Fullest 04/04/2025

Wisdom for Your Wisdom Years

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