Managing your money, emotions, and meaning of life...

Individual 401Ks, otherwise known as Solo 401Ks, are retirement plans is specifically designed for self-employed individuals and small business owners. They're great if you're eligible! We talk through the benefits and advantages of a Solo 401K, including high contribution limits and the ability to invest in a wide range of assets. We also cover record-keeping, plus why your tax preparer or CPA might not be up on the latest details of the plans. For us, they're tax plus lots

What's NOT in the SECURE Act hasn't gotten much attention as everyone, including @FriendsTalkFinancialPlanning, have been focusing on explaining the changes that did make the cut. Before the SECURE 2.0 was passed, many ideas were put out there. In some cases advisors suggested taking pro-active action to avoid the negative impact of changes that ultimately haven't come to pass! Today on Friends Talk Financial Planning we’re going talk through six main ideas that are NOT in

One of the new provisions o the Secure Act 2.0 is that 529 College Savings Plans are now going to be able to be rolled over into Roth IRAs. This is a big planning idea. But financial planners are scratching their collective heads. How is this going to work? We've got a special guest and Roth expert, Sean Mullaney, in to talk it through. Secure Act 2.0 came in at end of 2022. Now we’ll be able take 529s and covert them into Roths. We talk about what the rules are, when thi

Don’t Buy I Bonds. Here's 4 reasons why Series I Bonds might NOT be right for you, or right for you now. There are drawbacks to I Bonds that you want to be aware of before you buy them. By the end of this episode, you’ll know the four reasons you might not want to buy I Bonds. Check out these videos on Series I Bonds: What to expect: https://youtu.be/AYr_7L6OaCs I Bonds to Kids: https://youtu.be/KCOmYjZhUGM How the latest rate works: https://youtu.be/3_9uVBdrb0A #acpmember

Financial Resolutions for 2023. Both John Scherer and Bridget Sullivan Mermel are making them! And we're revealing them in this video. First, we discuss the first resolution that John recommends--the grandparent to all the other resolutions--resolve to spend some time on your long term finances in 2023. That means setting aside a specific amount of time each month or quarter to tackle some of the financial tasks that aren't that fun, but sure feel good when they're done. We

Year End Bear Market Tax Moves--The stock market has been down this year, and we're approaching year end. It's a great time to take a look at your portfolio and make the best out of a situation that you might not like that much--your portfolio being down. We talk through the best ways to make the best out of the situation--through your taxes. We discuss how to two tax strategies that can help you make the best a bear market. #acpmemberwisdom #financialplanning #tax 00:00 Wel

Knowing if you want investment management vs financial planning is a key element in finding the right advice. In this episode, we gently sort out the marketing from the reality. You know the financial industry jargon zone: wealth Management, investment management, financial planning, fee-only, fee-based. These words mean something specific to regulators, but marketers throw them around to get your attention. What's a real person to do when the powerful combination of the f