Financial video library

According to a recent BlackRock survey, 99% of people think that having guaranteed income in retirement would help them financially. And we agree! Knowing that you have a guaranteed income source for life can be a huge benefit to retirees. But folks should know what...

The biggest fear retirees have is outliving their money. Overspending in retirement is one of the main reasons why this could happen. You might not know how much to pull from savings to make up your lost income. You might not know how long your savings will last. You...

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...

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....

Financial Planning: Get Step One Right - Video 379 Key Takeaways: - Nothing else matters in financial planning if you don't get step one right: knowing your cash flow. - You must know what's coming in and going out every month; understanding your expenses on a monthly...

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,...

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...

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...

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...

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...

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...

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...

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...

Using a Roth IRA for a Down Payment - episode 371 Key take-aways: If your company offers a match, consider contributing up to the amount where you will get a match. If you have an option for a Roth 401(k) contribution, you really ought to consider it. Start building...

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...

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...

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...

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...

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....

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...