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.
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The Best Investment Question I've Ever Heard
08/18/2026
The Best Investment Question I've Ever Heard
Matt reflects on a question Warren Buffet posed in a talk from the early 2000's: if you could own 10% of any person's lifetime earnings, who would you pick? And why? Conversely, if you had to short any one person's lifetime earnings -- that is, you had to pay out 10% of their earnings -- who would you pick? Buffet set out a few rules: it has to be someone you know, and it has to be their earnings, not money they stand to inherit. Matt points out that, in the long run, it's the people with integrity, humility, and willingness to learn that make the cut for whose earnings you'd like to own. In the world of financial planning, there is much discussion of investments -- stocks and bonds, funds, etc -- but even more importantly, about the investment managers. Behind every investment is a person making decisions, and ultimately you want people with integrity, that make more good than bad decisions consistently over the long run, to help you allocate capital and build your savings for retirement 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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. 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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Everything You Need to Know About Trump Accounts
08/11/2026
Everything You Need to Know About Trump Accounts
Matt breaks down the mechanics of the new Trump Accounts, which are savings vehicles for kids. He discusses the tax deferred status of the accounts, what the funds can be used for, how they can be invested, who owns the account, and how the account can be divested, spent, or tranferred into an invidividual retirement account (IRA) when the child turns 18. Matt also discusses how these accounts differ from 529 accounts, and why you might choose one or the other. And don't forget, children born between 1/1/2025 and 12/31/2028 receive $1,000 in seed money in their Trump Accounts, but you have to claim it! 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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. 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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Lessons from Pinehurst: Moments That Become Memories
08/04/2026
Lessons from Pinehurst: Moments That Become Memories
Matt recently returned from a family trip to Pinehurst, an iconic golf resort in North Carolina and the home of US Kids Golf World Championship, which his daughters have competed in, and as always with such trips, with a fresh point of view. In today's episode, Matt shares his perspective on life, memories, and the moments and phases that we often don't appreciate until they are in the rear view mirror. Life is a journey of change, and serving as a financial planner is an honor and witness to the changes and moments and memories of everyone that walks through the doors of Benetas Wealth. 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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The Most Important Number in Retirement Is Not Your Rate of Return
07/28/2026
The Most Important Number in Retirement Is Not Your Rate of Return
Most people when they think about investment portfolios and retirement are concerned with the rate of return of the portfolio. How much does it earn every year, how much will it grow over time, is it matching or beating the market (i.e. the performance of a broad stock market index)? While these are reasonable questions to ask, they miss an important point. What matters is not how much your portfolio is returning against the market, or abstractly in a vacuum, but how much your portfolio returns compared to how much income you need it to generate in retirement. This number will vary, because each person's lifestyle, goals, and unique family, tax, and legal situations are different. It is known as the withdrawal burden. You can also look at this concept as a question of how much pressure you are putting on your investments to achieve your required rate of return. Imagine two investors with the exact same $2 million portfolio, invested in exactly the same way. One investor needs to withdraw $40,000 per year, however, while the other investor needs $180,000 per year. Who's taking more risk in this situation? Remember, the investments are identical. However the second investor is placing a much higher burden on his portfolio and is more likely to draw down the value of his portfolio more quickly, especially in years where market returns are soft. This example highligths an important point about investing. As Matt says, it's not about the account balances, it's about the demands placed on those account balances. Looking at retirement investing through this lens helps you better understand what job your portfolio needs to do for you. In some cases, you may need to be more conservative with your investment choices; however, you may discover that you can, and should, be more aggressive with your investments so that you can capture more growth over your investment horizon. 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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Inside the Planning Room: How a Financial Plan Gets Made with Matt Reynolds
07/21/2026
Inside the Planning Room: How a Financial Plan Gets Made with Matt Reynolds
Before you sit down at the conference table to with Matt, many hours of work go into your financial plan -- gathering information, reviewing your accounts, optimizing your tax situation, coordinating with accountants and attorneys, and much more. In today's episode, Matt Murphy invites the newest advisor at Benetas Wealth, Matt Reynolds, to talk through everything he's learned in his first year about how Benetas helps clients put together a financial plan. Matt Reynolds is deeply involved in the back office operations, combing through all the facts and details that get considered long before a client meeting happens. Take a look behind the scenes at everything that happens in the planning room before you sit down with Matt Murphy and Matt Reynolds to discuss your vision for retirement and the road map to get there -- it's a lot more than just managing investments! 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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Life Comes In Seasons, Your Financial Plan Should Too
07/14/2026
Life Comes In Seasons, Your Financial Plan Should Too
Life moves through seasons, and one characteristic of a season is you often don't realize you're in it until it has passed. You grow up, start working, kids come along, all of a sudden you're in the thick of parenting. Then, as children grow the nature of parenting changes, along with your schedule. And then, they're gone, and you are supporting them from afar. At each stage of the process, there are new challenges and new problems to solve. As Matt points out, one of the easiest traps to fall into is solving yesterday's problems and failing to recognize and adapt to the new phases of life. There's a clear analogy to retirement planning. Retirement is, after all, another season of life. People often focus on the wrong questions and problems of retirement -- accumulating long after their portfolio is sufficient, rather than visualizing life in retirement and what kinds of things they want to do or roles they'd like to take on. Or perhaps they are worried about working longer, when planning for taxes may be more impactful to their retirement. A good financial plan has seasons, just like life... because it is your life. 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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Why Emotion Is the Enemy of Good Financial Decisions
07/07/2026
Why Emotion Is the Enemy of Good Financial Decisions
Matt draws an analogy between the movie Man on Fire and the character of Crecy, who teaches a young protege how to think under pressure -- to solve a puzzle, not react emotionally -- and the process of investing. One of the most dangerous things an investor can do is get emotionally invested (pardon the pun) in the securities they are evaluating, looking for ways to confirm why they should buy them rather than reasons to not buy them. A good investor understands the risks of what he is buying, how an investment fits into his or her unique portoflio needs, and what the investment horizon is. Stock market turmoil often leads to emotional turmoil, and when emotion enters into the picture, we stop asking questions. Instead of looking for a puzzle to solve, we start believing in certain approaches and, inevitably, drifting from our original investment plan. 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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The Retirement Questions Your Portfolio Can't Answer
06/30/2026
The Retirement Questions Your Portfolio Can't Answer
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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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The Gap and The Gain
06/23/2026
The Gap and The Gain
Your life's journey is full of wins and losses, and however lumpy, it is a journey, a movement toward something, which means it is also full of gains. One common trait of successful people is they set goals and, having achieved them, move onto the a new goal, the next thing. Wherever they perceive a gap -- in their knowledge, experience, their financial position, etc. -- they seek to close that gap. Along the way they generate great gains, but their focus remains mostly on the gaps. It's easy for investors to get caught in this line of thinking too. Matt reminds us that in the journey toward retirement, we often see the gaps in our preparation and fail to appreciate how far we've come. This episode was inspired by the book 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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How AI Is Changing Investing
06/16/2026
How AI Is Changing Investing
Matt tackles a common question from clients: will traditional investing work with AI? AI is changing how businesses operate, with explosive increases in scope and scale over the past couple years. There is enormous hype around AI technologies, with some people comparing it to the advent of the internet or even the invention of electricity. Naturally, many retail investors are wondering how to invest on the precipice of great technological change. Matt separates two important questions here: 1.) what companies will win in the AI race, and 2.) how should long term investors behave to make durable investments for their families and retirement? The second question is what Matt focuses on today. It’s very difficult to determine what companies will “win” over the long-term. The dot com bubble was littered with highly promising companies that are now forgotten, while some of the winners were far from obvious picks at the time. Besides, Matt encourages clients to invest for the long-term, with a diversified portfolio that’s designed to help achieve the financial plan no matter what the market does. It shouldn’t matter what any individual company does — the plan and it’s investments should be durable and flexible enough to capture the broad market performance. 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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Why Simplicity Becomes More Valuable With Age
06/09/2026
Why Simplicity Becomes More Valuable With Age
Simplicity isn't just a nice feature of plans and documents, it carries real value. When things are complex, whether it's your investment allocation (or the investments themselves) or your estate plan documents, it costs you more than just money to maintain and administrate. It also costs brainpower and attention. As you age, your energy for managing these things may decrease. Inevitability, your ability to manage complexity will decrease. When you setup a financial plan and create new accounts, draft new documents, purchase new insurance policies -- don't just think about whether you can manage those things today, think about how they will accumulate in 10-20 years or more. Keeping things simple over the long term will not only save your sanity in your later years, it will accrue some real financial value! 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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The Hidden Cost of Working One More Year
06/02/2026
The Hidden Cost of Working One More Year
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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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Before You Buy Gold, Ask Yourself This Question
05/26/2026
Before You Buy Gold, Ask Yourself This Question
Gold and other precious metals have been used as stores of value for thousands of years, so naturally investors are curious about adding them to their portfolio. Curiosity typically peaks not when the markets are quiet and things are going well, but when things are volatile and the future is uncertain. Whereas common investment classes like stocks and bonds generate growth and income for a portfolio, and provide liquidity, gold provides none of these. It doesn't produce income, it doesn't compound, and is not as liquid. As Matt says, gold is not a plan, it's a compliment to a plan. Before you buy, it's important to ask yourself what the actual problem is you are trying to solve. Adding gold to a good financial plan doesn't necessarily improve the plan, it just changes it. If anything it adds more complexity to the plan, which carries its own risk. Moreover, buying gold carries opportunity cost, shifting assets away from growth and income production. So ask yourself, what are you trying to do by buying precious metals? Are you looking for stability, protection, diversification, or something else? Most of these questions point to structural issues that you may need to address elsewhere in your plan before buying gold. 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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What to Do When You Have a Windfall
05/19/2026
What to Do When You Have a Windfall
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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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Why Taxes Feel Higher In Retirement
05/12/2026
Why Taxes Feel Higher In Retirement
Retirement income is not like income from a job. It's a layered system, and it can be confusing. Matt explains how retirement income shows up on a tax return, and how each piece -- IRA distributions, Social Security, etc -- builds up to your taxable income. He also explains why people are sometimes surprised by their tax bill in retirement, and why financial planning that looks at your income throughout your retirement years (not just the beginning) is so important. 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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What Happens to Your IRA When You Die
05/05/2026
What Happens to Your IRA When You Die
Matt walks thorugh exactly what happens with your IRA as you approach end of life and death, including required minimum distributions, changing Medicare thresholds (IRMA), and the changing tax brackets upon death as the surviving spouse inherits the account and, therefore, the additional income stream. Matt also covers how IRA's transfer to children and the income and tax implications of the remaining funds as they are paid out to the inheriting children. The lifecycle of the IRA income ends up looking like this: Deferred income Forced income Compressed income Accelerated income At each stage, you have less control over what happens to the funds and how they are paid out. This is why it's critical to have a financial plan that considers your income not just at the start of retirement, but throughout retirement. And, as Matt has pointed out in past episodes, a plan is only as good as the attention you pay it -- monitoring it and adjusting it over time to account for changing life circumstances ensures that you are navigating your money wisely through 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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What Growth Really Means for an Organization
04/28/2026
What Growth Really Means for an Organization
Growth for a company tends to be talked about in simplistic ways: revenue, profits, employee count, new locations, etc. However these are simply outputs. When an organization grows, it's responsibility grows as well -- at least the way Matt looks at it. As Benetas grows he's looking carefully at how he can preserve good communication and relationships, to make sure that important conversations are had, that the coordination between professionals he talks about frequently is happening consistently. In a word, to ensure clients and their unique circumstances feel known, not just processed. 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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What Rory's 2026 Masters Win Can Teach Us About Investing
04/24/2026
What Rory's 2026 Masters Win Can Teach Us About Investing
Two weeks before this episode aired, Rory McIlroy won the Masters championship for the second time, and a back to back win at that -- a veryrare feat in golf. Rory became the fourth to ever do it, alongside the best golfers of all time Jack Nicklaus and Tiger Woods (Nick Faldo also went back to back in 1988 and 1989). Heading into the final day of the tournament, Rory had a commanding six shot lead, but what Matt noticed was how Rory dealt with his success through the first three days of the tournament. Rory didn't change his decision making and start playing to not lose. He stuck tightly to his process, and repeated the things that got him into the lead in the first place. Investors can learn a lot from this approach. As Matt points out, most investing mistakes aren't made when markets are down, they are made when markets are up, and investors are having success. It's easy to become overconfident, to think that you have "figured out" the market. Rory indicated in his press conferences that he respected the golf course for what it was, and didn't suppose that he owned it or had completely mastered it. He stuck to decision making that would put him in a position to consistently score well, while avoiding risky plays that could cost him several strokes if they didn't work out. He also did a good job tuning out the noise and the excitement from the press contemplating his second win before it happened. Investors deal with similar problems. Markets are unpredictable, and good investors don't try to figure them out -- they try to make consistently solid decisions that put them in a position to make good returns, rather than place risky bets with big upsides and big downsides. The markets are full of noise, like the press at the Masters tournament, and good investors learn to ignore the noise and focus on their process. They don't compare themselves or pay too much attention to what others are doing. 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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Market Volatility: Turning Stress Into Opportunity
04/21/2026
Market Volatility: Turning Stress Into Opportunity
When markets become volatile, many people start to get nervy. It feels like a time to pull back, to move to cash and wait until the storm blows over and things return to "normal." As Matt counsels, however, for a well designed financial plan volatility isn't bad, it's actually an opportunity! 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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How Smart People Get Scammed
04/14/2026
How Smart People Get Scammed
Every time a scam hits the headlines, most people think to themselves: "this wouldn't happen to me." And yet, scams happen all the time, even to smart, well-informed people! Many think scammers are bottom feeders, spamming poorly-worded, suspicious looking emails, texts, and links that are too obvious to fool any but the most gullible. While there are plenty of those kinds of scams in the world, there are also sophisticated scams that take advantage of distraction, social pressure, and urgency. And these scams are successful even with smart people. The risk of scams only rises in retirement, when the account values are large. You or the person in your life who normally manages financial affairs might have lost interest in doing so, or perhaps you are no longer in the weeds day to day and therefore less in touch. Matt has a simple approach to protecting yourself from scams. It's all about having a process. Have a simple process for making decisions, especially about money and important life decisions. Scammers pray on urgency and fear. A process can help you slow down, evaluate what's going on, and give you some second opinions on whether the decision makes sense. Matt encourages you to check in with a trusted friend or advisor before you agree to a proposal, someone external who can offer a sanity check. Your process doesn't have to be complicated, but following it consistently can help you root out scams and bad actors and avoid the financial and mental pain of being scammed. 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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Before You Can Advise Others, You Have to Understand Yourself
04/07/2026
Before You Can Advise Others, You Have to Understand Yourself
Matt recently spoke at the University of Central Florida to students interested in pursuing a career in wealth management. One student asked him a prescient question: how did he learn how to talk with clients about money, especially the psychological side of the conversation? Matt's response wasn't about technical knowledge, or certifications and credentials. It was about, as Socrates says, knowing thyself. In order to sit across the table from a client and help them navigate their complex feeling abouts money -- their hopes and goals, fears and anxieties -- you first need to understand how you respond to dealing with money, and complex life issues in general. Understanding your own predilections and responses to life challenges, to market turmoil, to changing circumstances and goals; this knowledge is key to understanding what others may be going through in their own, unique lives. Ultimately, money decisions are highly emotional decisions. Math is helpful, but rarely the deciding factor. A client needs to not only make sound financial decisions from a mathemetical perspective, but decisions that they feel confident about in the context of their own unique circumstances and personality. 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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Is Your Advisor Asking the Right Questions?
03/31/2026
Is Your Advisor Asking the Right Questions?
Matt reviews a few conversations he's had with clients that came seeking a second opinion about the financial advice they had gotten. The conversations highlight a common problem that is unfortunately not talked about much. Meetings with financial advisors often focus primarily, maybe even exclusively on portfolio performance, missing the context of the bigger picture -- things like tax strategies, mapping retirement income over a period of time, planning Roth conversions if needed. Portfolio performance is really just one piece of a bigger puzzle that requires context and consideration of a client's unique goals and circumstances. 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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The Myth of Integrated Financial Advice
03/24/2026
The Myth of Integrated Financial Advice
Some wealth management firms offer integrated financial advisory, in which they combine investment management, tax planning, estate planning, insurance and more under one roof. The concept is attractive -- you have one place with one point of contact for managing your complete financial life, and your service should be coordinated between professionals. Investment decisions should align with tax planning strategies to avoid creating unncessary tax burdens or too much income in retirement (like the retirement income snowball that Matt covers in episodes #25 and #33), for instance. Unfortunately, as Matt explains, it doesn't always work out that way. Matt shares some experiences with clients who came from integrated financial advisory practices with various retirement planning issues. As he points out, just because a firm offers a comprehensive suit of advisory professionals, it doesn't mean they actually communicate in a coordainted and timely fashion. What really matters is how a firm operates, whether they have a structure in place for creating a retirement plan and sharing that plan with each professional's input (investment management, tax, insurance, etc), and most importantly, revisiting that plan and managing it on an ongoing basis. This is true whether you are working with an independent financial advisor with external professionals, or an integrated firm. 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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Tax Planning for Roth Conversions with Abbie McGuire, CPA
03/17/2026
Tax Planning for Roth Conversions with Abbie McGuire, CPA
Abbie returns to the podcast to talk with Matt about the many tax implications of Roth IRA conversions in retirement. Roth conversions are useful tools for managing your cash flow in retirement and avoiding the retirement income snowball (discussed in episode #25). Roth conversions can also help you avoid required minimum distributions in your later years. As always, the key is planning well ahead of time so you can make decisions with clarity, and not reactively, because often when you get into an unfavorable tax situation in retirement, the time to do something about it has passed. 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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Tax Advice Is Not Tax Planning
03/10/2026
Tax Advice Is Not Tax Planning
CPA's are skilled and useful practioners, and important tools in making sure that you are compliant with the tax code and don't pay more taxes than you legally owe... this year. Many people mistake the advice of their CPA for tax planning, that is, the long-term positioning of your income, assets, and other unique circumstances to minimize your tax burden in the future. Matt reminds us that taxes in retirement are not just a one-time annual event. Taxes evolve into a whole system of interlocking parts involving Social Security, RMD's, Medicare premiums, and more. As Matt points out, tax returns look backward at the year behind you. Tax planning, on the other hand, looks forward, evaluating how all these moving parts fit together over years and even decades, to make sure you avoid major tax pitfalls during 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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Who Owns Your Financial Plan?
03/03/2026
Who Owns Your Financial Plan?
Attorneys, accountants, investment advisors -- they all have their place in your financial life. Most of them provide sound advice as well, but they are specialized professionals and their expertise and scope of work is inherently limited. Herein lies a trap in retirement planning. While you may get good advice on setting up trusts, allocating your investment assets, purchasing long-term healthcare, etc., it's important to ask: is anyone looking at the whole picture? 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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Your Permission Slip to Spend In Retirement
02/24/2026
Your Permission Slip to Spend In Retirement
Matt explores the psychology behind a conversation he has often with clients, which revolves around the fear of spending in retirement. Even when the math is done, the spreadsheets are double checked, the modeling shows high confidence in your financial stability... many clients hit retirement and have trouble shifting into a "spending" rather than a "saving" mindset. After decades of saving and delaying gratification, it can be a difficult transition! Matt's experience is that these fears are rooted not in math or confidence, but in the unknown. Naming the fears is a good starting point for understaning them. For some it's the fear of longevity, outliving their money, for others it's the fear of being a burden on others. These fears are not math questions but value questions, as Matt points out. Thinking through these fears, naming them, and understanding exactly how your financial plan helps you address these can bring clarity to your situation instead of a stormy black cloud of unknown. Overspending in retirement has obvious costs. Underspending in retirement has hidden costs too, albeit more subtle. Travel not taken, experiences deferred until health makes them difficult or impossible, time spent optimizing for safety rather than living life -- these are real costs that need to be considered. Somewhere between the costs of overspending and underspending there are tradeoffs, and those tradeoffs are where clarity is gained and life is lived! 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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When the Paychecks Stop: One Year of Clarity at Benetas Wealth
02/17/2026
When the Paychecks Stop: One Year of Clarity at Benetas Wealth
Today is the one year anniversary of Benetas Wealth, which has Matt reflecting. For over twenty years he was a professional financial advisor at a big firm, but after stepping out to run his own practice that chapter, he realized, had closed. All of a sudden he was responsible for getting clients, making payroll, operations... Matt realized that what people often refer to as uncertainty when making a big change, like starting a business or retiring, is really responsibility. When you step out on your own and the paychecks stop, you sudden realize you are the one responsible for what happens to you. This is a difficult transition for many, especially if you've spent many years working a job inside a system -- processes, a network of people, social and information resources, and financial security. But this weight of responsibility is ultimately what Matt aims to help clients with at Benetas Wealth. Retirement is not just about math and net worth and spreadsheets, it's about obtaining clarity about your role in the future and creating a plan that can flex and grow with you through 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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Two Mistakes That Can Break Your Financial Plan
02/10/2026
Two Mistakes That Can Break Your Financial Plan
Financial plans don't fail in spreadsheets, they fail at stress points -- parents that need more help and care than expected, a business sale that took longer than anticipated, prolonged market volatility. As Matt has observed during his career, it's not the stressors themselves that cause problems with the financial plan, it's the behavior around those stressors. A good financial plan includes flexibility to deal with changing life situations, and is revisited and revised periodically to account for them. Another quiet killer is unnecessary complexity, too many just-in-case provisions or backup strategies. Plans setup with too many contingencies can require constant attention to work as intended. In these plans, it's not the decisions that break them, it's the fact that people don't have the time to monitor them! As Matt says, simplicity is not laziness, it's durability. 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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The Hidden Risks of Chasing Liquidity
02/03/2026
The Hidden Risks of Chasing Liquidity
Liquidity -- how quickly, easily, and efficienly you can sell your assets to raise cash or reinvest -- is an attractive quality for many investors. It's a safety blanket, like having a lot of cash in the bank or a healthy income stream. But liquidity comes at a cost, and being too liquid could be an expensive mistake. As Matt explains, liquid investments present a few important behavioral risks that are often overlooked. When the market is turbulent, it's tempting for investors to sell their investments and retreat to cash, so to speak, but cash has it's own problems. Firstly, cash loses value over time to inflation, and this loss of purchasing power can be significant over the long run. Then there's what happens (or doesn't happen) after an investor moves to cash -- how long does it take them to redeploy it, and at what price? Many bad investments are made after "waiting out" bad markets, because investors wait too long to re-invest out of fear and end up paying higher prices. On top of that, they lose the effect of compounding they would have had by staying invested. The temptation to time the market and precisely move in and out of investments to maximize returns and minimize losses is high, and many investors fall prey to it. Liquidity offers the allure of safety, and while liquid investments are useful and provide a portfolio with options, they also carry risks that should not be ignored. 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. All indices are unmanaged and investors cannot invest directly into an index. Investments in target-date funds are subject to the risks of their underlying holdings. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative investments based on its respective target date. The performance of an investment in a target-date fund is not guaranteed at any time, including on or after the target date. Diversification does not assure a profit or protect against loss in declining markets, and diversification cannot guarantee that any objective or goal will be achieved. 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.
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