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How You Can Avoid Underspending in Retirement

How You Can Avoid Underspending in Retirement

A lot of retirees worry about outliving their money. And rightfully so! But that can also lead to underspending in retirement. Or, not spending as much as you can afford to. You spent your whole life working and saving money. Now it's time to retire, and you have to...

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Financial Power of Attorney: Video Episode 380

Financial Power of Attorney: Video Episode 380

Financial Power of Attorney Financial Power of Attorney - Links Catch all our Mullooly Asset videos here Subscribe to the Mullooly Asset YouTube Channel   Financial Power of Attorney - Transcript In episode three eighty we talk about financial power of attorney....

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Buy Now Pay Later

Buy Now Pay Later

Buy Now Pay Later Key Takeaways from "Buy Now Pay Later" Episode Lack of Reporting to Credit Agencies: Companies like Affirm, Klarna, and AfterPay do not report consumer debts from "buy now pay later" schemes to major credit reporting agencies like Equifax,...

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5 End Of Life Financial Planning Pointers

5 End Of Life Financial Planning Pointers

End Of Life Financial Planning Key Takeaways: 1.   If someone is married and they pass away, this is the last year they can file a joint tax return, which may affect decisions on accelerating income for the surviving spouse. 2.  Selling an asset at the last moment or...

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Is the Inherited IRA RMD Waived in 2024?

Is the Inherited IRA RMD Waived in 2024?

Is the Inherited IRA RMD Waived in 2024? Key Takeaways: - You are not required to take a minimum distribution from your inherited IRA in 2024. - The IRS has extended the waiver for required minimum distributions for inherited IRAs through 2024. - Different rules might...

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Beneficiary IRA, Inherited IRA, SECURE 2.0 Act

Beneficiary IRA, Inherited IRA, SECURE 2.0 Act

Beneficiary IRA, Inherited IRA, SECURE 2.0 Act - Video Episode 375 Key Take-aways: 1. Non-spouse beneficiaries cannot roll inherited retirement accounts into their own IRAs; they must set up a separate inherited or beneficiary IRA. 2. Under the SECURE Act, inherited...

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Secure 2.0 Act

Secure 2.0 Act

Secure 2.0 Act In this video, Tom attempts to briefly highlight nine points from the Secure 2.0 Act in four minutes or less! 1.  RMD changes 2.  Larger catch-up provisions 3.  Roth @ work - can be matched 4.  Qualified Charitable Distributions can now include $50k to...

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Inflation Never Stops – Video 374

Inflation Never Stops – Video 374

Inflation Never Stops Key Take-aways: 1. Inflation operates continuously, similar to a "compounding machine," and rarely produces negative numbers, with a recent example being in 2009. 2. A decrease in inflation rates does not imply a decrease in prices but rather a...

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Inflation Is Cumulative

Inflation Is Cumulative

Inflation Is Cumulative Key Takeaways: Inflation is cumulative, not just year-by-year; it builds up over time affecting the cost of goods and services. The rate of inflation can vary each year, but even when it decreases, it typically does not negate the previous...

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Automatic IRA Act of 2024

Automatic IRA Act of 2024

Automatic IRA Act of 2024 - Video Episode 372 Key Take-aways: 1. The "Automatic IRA Act of 2024" requires employers with ten or more employees to set up automatic retirement contribution plans for all full-time and "long-term part-time" employees, with...

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The S&P 500: cap-weighted or equal-weight?

The S&P 500: cap-weighted or equal-weight?

The S&P 500: cap-weighted or equal-weight? Key Takeaways: Diversification is key to a smoother investment journey; different types of investments (e.g., mid-caps, small-caps, large-caps, international vs. US) perform differently at various times, helping to...

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Do I Owe Taxes on a Gift?   #368

Do I Owe Taxes on a Gift? #368

Do I Owe Taxes on a Gift? Key Take-aways from the question, "Do I Owe Taxes on A Gift?": If you are the recipient of a gift, you do NOT owe a gift tax on this money. In 2024, if you are a gift GIVER, you can now give up to $18,000 to one person, without needing to...

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Higher Taxes Headed Your Way?

Higher Taxes Headed Your Way?

Higher Taxes Headed Your Way? Are higher taxes headed your way in the future? These potentially higher taxes may be due to higher than expected required minimum distributions (RMD's). The starting age for RMD's is now 73.  We even had a period where there were no...

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Should You Buy Gold Bars at Costco?

Should You Buy Gold Bars at Costco?

Should You Buy Gold Bars at Costco? Costco recently began selling one ounce gold bars. Should you take advantage of this? Costco recently began selling gold bars online, not in stores, and sold one hundred million dollars' worth in the recent fiscal quarter. Buying...

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Real Estate or Stocks, what’s better?

Real Estate or Stocks, what’s better?

Real Estate vs. Stocks In video episode 365: Tony invested his $50,000 inheritance in real estate by putting it down on a $250,000 house and renting it out, initially earning $24,000 a year in rent but facing mortgage and maintenance costs associated with real estate....

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Cash Flow Matters

Cash Flow Matters

Cash Flow Matters In video episode #364, Tom covers: - Cash flow matters - and is crucial at every stage of financial planning, whether starting out in life, getting out of debt, preparing for retirement, or running a business. - People often focus too much on assets...

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Target Date Fund: Your New Landlord?

Target Date Fund: Your New Landlord?

Target Date Fund: Your New Landlord? How in the world can your Target Date Fund be your next landlord? In episode 363, Tom discusses how a Target Date Fund - these funds are often one of the default fund choices for many retirement plan investors (and college savers!)...

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Long Term Care in New Jersey

Long Term Care in New Jersey

Long Term Care in New Jersey In this episode (video episode # 362), Tom shares some information about the Medicaid process and long term care here in New Jersey.  It's no surprise, the cost of long term care in New Jersey (and around the country) continues to climb...

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