Many retirees make the decision to move in retirement but should no income tax be the main reason for relocation? While it might save you money in taxes, the move might not benefit you as much as you think. In this episode of the Money Wisdom Podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® talk taxes in Massachusetts and Connecticut and the considerations that go into moving to another state in retirement.

Text KIT to 800-757-0436 to get our ‘Are You Ready to Retire?’ Starter Kit

Here’s what we discuss in this episode:

0:00 – Intro

0:52 – Reasons people move

2:47 – Ask yourself these things

3:59 – Taxes in Massachusetts

7:20 – Millionaires tax

9:51 – What to think about

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As life gets busy, it’s not uncommon to lose track of old financial accounts, especially if you've switched jobs multiple times. When someone leaves an employer, that old 401k will stay where it is unless you do something with it and it’s easy to forget about. But did you know that rediscovering this "found money" could significantly impact your financial future?

In the latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® share guidance to anyone who has ever stumbled upon an old 401k.

Here’s what we discuss in this episode:

0:00 – Intro

1:56 – Forgotten 401k

6:08 – The Ultimate 401k Guide

7:07 – Why you might not want to move the money

For those looking for more in-depth guidance on managing their 401k, we offer a valuable resource: "The Ultimate 401(k) Guide.” Just text the word GUIDE to 800-757-0436 to get a copy. This guide provides a comprehensive overview of the pros and cons of different retirement account options, helping you make informed decisions about your financial future.

Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/

Contact our team: https://johnsonbrunetti.com/contact-us/

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All of the back and forth is finally over and the election results are in. Donald Trump will take office for a second term and it’s already having a big impact on the market. The news is all over everyone’s feeds and our clients are asking us what this means for them.

We know the campaign trail is fraught with promises, empty or otherwise, on both sides. But will the reality be moving forward? How will a new administration impact the economy, taxes, the stock market, future generations, and other areas of planning? Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® react to the news and discuss what we know and don’t know as we begin thinking through planning decisions.

No matter how you feel about how the election turned out, it’s time to move forward and control what you can. Tax planning will continue to be incredibly important, which is why we will provide you with the booklet "Are You Paying Too Much in Taxes?" This resource aims to equip listeners with the knowledge and tools needed to navigate their financial future confidently and all you have to do is text OFFER to 800-757-0436.

Here’s what we discuss in this episode:

0:00 – Intro

2:33 – Taxes

3:25 – What’s next?

6:53 – Tax planning strategies

Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/

Contact our team: https://johnsonbrunetti.com/contact-us/

Check us out on YouTube: https://bit.ly/3CcAzai

Building a solid income plan is a foundational piece of retirement planning and there are a variety of ways to create those income streams. One product that often comes up during meetings is the annuity because of its ability to produce guaranteed income to replace your paycheck, but is it a good choice for your portfolio?

Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® join the Money Wisdom podcast to dive into a question we received: ​a ​friend ​told ​me ​that ​I ​should ​think ​about ​an ​annuity ​for ​retirement ​income. ​What ​do ​I ​need ​to ​watch ​out ​for ​with ​these ​products ​while ​I'm ​shopping ​around? If you're considering annuities as part of your retirement strategy, this episode is worth watching.

Here’s what we discuss in this episode:

0:00 – Intro

1:29 – Today’s question

3:20 – Types of annuities

5:22 – Goals for your money

6:47 – Other considerations

Get a copy of the ‘Are You Ready to Retire?’ starter kit by texting the word KIT to 800-757-0436.

Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/

Contact our team: https://johnsonbrunetti.com/contact-us/

In a world where financial stability is paramount, many individuals are seeking ways to make their savings work harder without compromising on safety and liquidity. That’s why we want to tackle today from someone trying to generate greater yield: how can I earn more interest on $120,000 sitting in a bank account while maintaining safety and liquidity?

Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® join the Money Wisdom podcast to discuss various options, such as money market funds, short-term CDs, and fixed annuities, and emphasize the importance of aligning financial decisions with personal goals and overarching plans.

Here’s what we discuss in this episode:

0:00 – Intro

1:20 – Today’s question

2:30 – The why

3:22 – Goals for this money

4:55 – What options do you have?

7:06 – Tax considerations

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Retirement is a significant milestone in life, and preparing for it requires careful planning and strategic financial management. Knowing when to dial back the risk in your portfolio can help protect your portfolio and keep you on track in retirement. In the latest episode of the Money Wisdom podcast, financial planners Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® answer a question about when to adjust your investment strategy as you approach retirement.

Here’s some of what we discuss in this episode:

• The ​differences ​between ​investing ​and ​saving ​for ​retirement ​versus ​investing ​and ​saving ​in ​retirement.
• What ​sort ​of ​qualities ​do ​your ​investments ​need ​to ​hold ​in ​retirement?
• Structuring plans ​from ​an ​investment ​standpoint based on risk tolerance.
• Planning can help you identify how much risk you need to take and determine whether you can dial it back.

Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/

Contact our team: https://johnsonbrunetti.com/contact-us/

The one constant in financial planning is change, especially when it comes to tax laws. The government is always adjusting tax laws and they’ve recently made some changes to the rules around retirement accounts. For people that have been saving for retirement, it’s important know how these changes will affect you and your family.

In this episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® tackle the intricate subject of inherited IRAs and the ever-evolving tax laws that accompany them. As tax regulations change, it's crucial to stay informed and prepared to handle the financial implications that arise when inheriting retirement accounts.

Here’s some of what we discuss in this episode:

• The changes made to the stretch IRA that will force you to pay taxes on that money much sooner.
• Why does Uncle Sam require a minimum distribution on inherited IRAs?
• How this changes the legacy planning portion of our conversation with clients?

Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/

Contact our team: https://johnsonbrunetti.com/contact-us/

Nearly everyone we talk to wants to know when is the ideal time to take Social Security, and that’s a natural question because they’ve been paying into it for a very long time. Clients not only want to start getting that money out but want to do it in the most efficient way so they can maximize their benefit.

Making the decision about when to start taking Social Security benefits is one of the most crucial financial choices you’ll face as you approach retirement. In this episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® take you through the process for making this decision and how we approach it with our clients.

Here’s some of what we discuss in this episode:

The key ages for Social Security.

The viability of the system and the benefits.

One of the biggest questions we get asked is about break-even points.

Why taking them sooner might allow you to enjoy the money and continue to grow your assets for your heirs.

The other factors that play into your decision.

To aid in this decision-making process, Johnson Brunetti offers a helpful booklet on Social Security decisions. You can get your hands on this resource by texting the word "social" to 800-757-0436. This booklet can provide you with the information you need to make an educated choice about when to start taking your benefits.

Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/

Contact our team: https://johnsonbrunetti.com/contact-us/