Taxable Income For Long Term Care Taxable Income for Long Term Care: Is this a Roth Mistake? Is going "all-in" on a Roth conversion actually a costly retirement mistake? In this video, Tom Mullooly discusses the critical relationship between taxable income for long...
Effective Tax Rate Effective Tax Rate vs. Marginal Rate: Why Your Tax Bracket Isn’t Your Tax Bill Tom explains the common confusion between marginal tax rates and the effective tax rate. Being in a 22% or 32% bracket only applies to the next dollar of taxable income...
Medical Expenses in Retirement Planning your retirement income strategy usually involves mapping out fixed costs like a mortgage or car payments. However, unexpected medical expenses remain a massive wild card for most couples. A recent Fidelity report reveals a...
Claiming Social Security at Age 62 Are you considering early - claiming social security at age 62? Will there be Social Security Cuts in 2032? The Math on Claiming at 62 vs 67 (And How to Stress-Test Your Plan) This episode breaks down the math behind claiming Social...
The Average Investor: How Emotions Could Cost $26,725 Emotional decisions could cost the average investor $26,725. We arrived at this amount by examining the posted returns for US equity mutual funds and equity exchange-traded funds (ETF's) and compared them to the...
One-time financial plan is a myth Why “One-Time Plans” Don’t Work (and What to Do Instead) This video explains why a one-time financial plan is essentially just a snapshot or “checkup” with little lasting value. While others may disagree, at Mullooly Asset Management...
ACAT Scam ACAT Scam Explained: How Thieves Can Transfer & Liquidate Your Brokerage Account Fast We discuss an “ACAT scam” involving the Automated Customer Account Transfer Service (ACAT). This system was created in 1985 to quickly move accounts from one broker to...
What Is A 72t Distribution? This episode discusses a little-known option for retirement accounts: a 72(t) distribution. These are also called substantially equal periodic payments (SEPP). While distributions from pre-tax retirements will be taxable, these...
The Why Behind Data Gathering Data Gathering is an essential part of financial planning. We believe data gathering is the starting point for financial planning. "Winging it" is not productive. A firm grasp of your numbers is essential, prior to retirement....
Should My Financial Advisor Talk to My CPA? Should my financial advisor talk to my CPA? For the best outcomes, we feel the answer is yes. When your accountant, advisor, and attorney don't talk to each other, problems can develop. And you're usually the one who pays,...
