KPC Smart Money Podcast

With a possible tax rate increase in the near future, people are wondering if it is still a good time to do ROTH Conversions.  Anytime is a good time to do ROTH Conversions, depending on your specific situation.  Creating tax free income for retirement is a good idea with government debt, spending, and an aging population likely to mandate higher taxes no matter what political party is in power. K...

When making a financial plan, we like to compare it to building a house.  That is why we call our financial plans the Retirement Blueprint.  In this week's show we will talk about some of the components of a solid written retirement plan. Takeaways: EVERYTHING starts with a good plan, that will change over time 80/10/10 rule - Set aside 10% of your monthly income for God/charity, 10% to savings, a...

Every heard stock market investing terms that you aren't sure what they mean?  If you want a brief overview of some common stock market terms and concepts, then this week's show is for you. Takeaways: What is Modern Portfolio Theory? What is the difference between Tactical and Strategic investing? How is Active management different than Passive? What does asset allocation mean?

You have no doubt heard the idea that you can retire by starting with $1 million dollars and just withdraw 4% per year.  Can you have confidence in this?  Today we talk about why this often won't work. Key takeaways: If you are 65 years old, and $1M dollars, spend $50,000/year, and only take 4% of your $1M, your money would only last about 20 years after inflation and taxes BUT everyone's situatio...

End of life planning is a critical component of an airtight financial plan.  Generational meetings with parents, children and financial advisors is gaining popularity for many reasons.  Does your financial advisor link your heirs with your wishes and provide guidance to your loved ones when you are gone? Key takeaways: Have you ensured that there is a plan in place for when the unprecedented happe...

This is the final podcast in our Take Control of Your Financial Life series.  We have shared many ideas, and thank you for your positive feedback.  It seems only fitting to end the series with some organization tips. Key takeaways: Set up automatic bill pay to avoid late fees and protect your credit score Every week look at your finances.  Set up reminders, especially to make sure you have enough...

More than 60% of Americans do not have a will, including parents with children under 18! People don't understand what might happen if they die prematurely.  Or they are hesitant because they just don't know what they need or how to get a will or trust.  We hope this podcast will encourage you to put this on the top of your to do list. Key takeaways: Getting a will or trust is one of the most cruci...

I love to hear the different ways people come up with to save money.  Some of these ways are easy and fun.  It doesn't have to be hard. Key takeaways: Spare change jars Shop at a dollar store Cook dinner at home Do weekend cooking for the week ahead

We all can add new habits to drive unnecessary expenses out of our budgets.  This week we share more fun ideas to create a lifetime of good spending habits. Key takeaways: Have a no-spend week Use coupon apps Find free stuff! Cancel subscriptions

You can find money (savings) in your bank and credit card statements.  It is easy to overlook small charges, recurring subscriptions, or even wrong charges when you review your bank and credit card statements often. Key takeaways: Look for recurring charges.  Do you use what you are paying for? Be thoughtful when you review your expenses.  Do you really need the things you are spending money on? B...

We will discuss today some ways to earn extra money.  Whether you need to cover budget expenses, have something fun you are saving for, or just have time on your hands and want to do something, we hope today's podcast gives you some ideas. Key takeaways: Have a car?  Try becoming a driver for Uber, Lyft, UberEATS, Door Dash, Amazon, or many other companies looking for part time drivers Are you opi...

How to take control of an often-overlooked area of your budget - groceries!  Today we are sharing ways to buy what you need, avoid overspending, and where to shop. Key takeaways: Make a list before you go to the store Shop at more than one store depending on what you need to buy Use cash instead of credit cards for 3 weeks until it becomes a habit to know how much you are spending before you get t...

Are fees eating away at your budget?  There are all kinds of fees, some small some big, that you can avoid.  Keep more of your money by eliminating or avoiding fees that don't have value. Key Takeaways: Investment fees are a normal part of having your investments managed.  Do you get value for them? Banking fees can be avoided.  Do you pay for checking accounts, ATMs, overdraft or money transfer f...

There are common personal finance mistakes that often occur over and over again. You can get out of, or avoid, these mistakes.  Listen to this multi-part series and find out if you are making any of these mistakes and how you can correct them. Key takeaways: Create a budget Evaluate/Review your budget Track you spending Free budgeting software

There are common personal finance mistakes that often occur over and over again. You can get out of, or avoid, these mistakes.  Listen to this multi-part series and find out if you are making any of these mistakes and how you can correct them. Key takeaways: Look at bank and credit card statements frequently Create stronger passwords for your online accounts How to avoid scams designed to trick yo...

There are common personal finance mistakes that often occur over and over again. You can get out of, or avoid, these mistakes.  Listen to this multi-part series and find out if you are making any of these mistakes and how you can correct them. Key Takeaways: Transfer out of high interest debt to zero or low interest debt Find free money Reduce student loan debt by refinancing or adding to your min...

We all want to have control of our Financial Life.  Sometimes the steps needed to get there can seem intimidating.  It doesn't have to be.  Pick some of the steps we will talk about in this series, and start building your financial confidence today. Key Takeaways: Review your credit report - OFTEN How to correct negative events on your credit report Make an extra payment toward debt

We all want to have control of our Financial Life.  Sometimes the steps needed to get there can seem intimidating.  It doesn't have to be.  Pick some of the steps we will talk about in this series, and start building your financial confidence today. Key Takeaways: Set goals Make or increase your 401k contributions, especially if you have employer matching Start an automatic savings plan, no matter...

There are common personal finance mistakes that often occur over and over again. You can get out of, or avoid, these mistakes.  Listen to this two-part series and find out if you are making any of these mistakes and how you can correct them. Key takeaways:  What if the primary earner dies or suffers a disability? How well have you trained your children to be financially responsible? Are you taking...

There are common personal finance mistakes that often occur over and over again. You can get out of, or avoid, these mistakes.  Listen to this two-part series and find out if you are making any of these mistakes and how you can correct them. Key takeaways: Are you living paycheck to paycheck? Does only one person in the family know where the money goes? Do you discuss budgets, spending and goals w...

Spouses often have differing opinions on saving and spending, but when does it become a problem?  A spouse that overspends can create tension, anxiety and even anger in a marriage.  We will talk about the problems this causes, but more importantly, some solutions. Key takeaways: An overspending spouse can endanger your retirement Communication and understanding underlying issues can help couples f...