Money Wisdom

The headlines are loud, the markets are messy, and your gut might be telling you to do something — anything — right now. But what should you actually do when your portfolio takes a hit? In this episode, Jake and Nick offer advice for navigating a down market without making costly mistakes. They explain why emotional reactions often lead to regret, and how fear-based decisions, like pulling out of...

Social Security may be one of your most reliable retirement income sources, but it's also one of the most misunderstood when it comes to taxes. Many retirees are surprised to learn that yes, Social Security can be taxable, depending on your overall income. In this episode, we break down how the rules aren't always as straightforward as they seem. Here's what we discuss in this episode: 💵 When Soc...

Retirement isn't just the end of your working years, it's the beginning of what could be the most financially demanding third of your life. With people living longer than ever, planning for a 30-year retirement is no longer just smart, it's essential. In this episode, Jake and Nick address how the old model of relying solely on Social Security and pensions doesn't hold up anymore, especially when...

Most people go into retirement assuming their taxes will drop, but what if that assumption sets you up for a nasty surprise? In this episode, Jake and Nick unpack the "tax trap" that catches countless retirees off guard. It's a hidden pitfall that turns decades of diligent saving into unexpected tax bills when you finally tap into your nest egg. They will reveal how common retirement strategies, l...

When it comes to preparing for retirement, most people focus on the obvious goals of saving enough and building an emergency fund. But in this episode of Money Wisdom, Jake Doser, CFP®, CPWA® and Nicholas J. Colantuono, CFP® explore the deeper, often overlooked financial goals that truly make or break your retirement experience. It's not just about hitting a magic number. It's about assigning purp...

Getting engaged later in life is an exciting time, but it requires different financial planning conversations. With blended families, different retirement timelines, and evolving goals, couples in this situation face unique challenges. Jake and Nick break down how your relationship with money changes as retirement nears and why your financial plan should evolve right alongside it. Here's what we d...

Establishing a solid relationship with a financial advisor is crucial for effective planning, but what does that look like in practice? Jake Doser, CFP®, CPWA® and Nicholas J. Colantuono, CFP® discuss the essential role that communication plays in the client-advisor relationship to help set expectations for the planning process. We received this question recently and wanted to open up the conversa...

Long-term care planning is a significant concern for individuals approaching retirement because it's an expense most people aren't prepared for. Trying to prepare for it with insurance isn't cheap, and people often ask us if it's worth it. In this episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nicholas J. Colantuono, CFP® tackle this pressing issue by answering a listener's quest...

Preparing for required minimum distributions (RMDs) can be quite unsettling when you know withdrawals are coming and the IRS will be waiting. In this episode of the Money Wisdom podcast, we're going to answer a question about what you can do from a planning standpoint when large RMDs are coming in retirement.   This situation highlights a common issue: retirees often find themselves in higher tax...

Financial planning is an essential aspect of life, but every family handles their money a little differently. The Money Wisdom podcast tackled a common question: what happens when one spouse handles all financial matters, leaving the other uninformed? This scenario, while common, can create stress and uncertainty for family members, particularly adult children who may be concerned about their pare...

A health savings account can be an incredibly powerful tool for tax-advantaged savings but not every health plan includes that option. Is it worth switching your plan for one that allows you to contribute to an HSA? In the latest episode of Money Wisdom, Jake Doser, CFP®, CPWA® and Nicholas J. Colantuono, CFP®    tackle a listener's question about HSAs and walk you through a few of the things you...

Most people want to know how they stack up to other people as they approach retirement, which is why people often ask about the average age most people decide to retire. We work with people across different states and regions, so we see a range of ages. In the latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nicholas J. Colantuono, CFP® share their personal experiences from...

One of the primary concerns for individuals nearing retirement is the desire to be debt-free. While this is a noble goal, it raises several questions about financial strategy, liquidity, and credit scores. While being debt-free may feel like a significant milestone, it is crucial to consider the broader financial picture. In the latest episode of the podcast, Jake Doser, CFP®, CPWA® and Nicholas J...

In today's fast-paced world, job security can often feel like a fragile concept, especially for those in their 50s. In this episode of the Money Wisdom podcast with Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP®, address a listener's concern about preparing for potential layoffs and talk about steps to take if you're facing similar uncertainties. Here's what we discuss in this episode: 0:00 – T...

With more people getting divorced later in life, blended families are common, and it leads to additional conversations involving planning. One of the things that need to be addressed when someone remarries is the estate plan, particularly the beneficiaries. Do you need to make changes or can you just let your will take care of your needs? In this episode of the Money Wisdom podcast with Jake Doser...

A key aspect of planning is finding ways to be as efficient as possible with your money and one great example of that is charitable giving. It's something that many people care a lot about and if we can help them do that with more efficiency, it's a win-win for everyone. That's why this episode of the Money Wisdom podcast with Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP®, is all about donor a...

With retirement approaching, many couples are faced with the challenge of aligning their financial goals without the traditional framework of marriage. In the latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® address the challenges and planning needs for couples who aren't married but still want to maintain a shared interest in their financial success. H...

Everyone wants to find the right mix of investments, but it's easy to become over-concentrated in a specific asset. Real estate investors will often run into this dilemma as property values rise and home equity increases.   In this show, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® will answer a question about how much real estate is too much and how should you start shifting investments as y...

Are you constantly comparing your retirement savings to those of your peers? If so, you're not alone. Many people find themselves trapped in the cycle of comparison, wondering if they measure up to others. In the latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® tackle this common concern and explain why comparison can be detrimental to your financial he...

Estate planning can be difficult enough on its own but what happens when you're hesitant to leave behind a large sum to a child who might be lacking financial responsibility. This challenge is the focus of the latest episode of the Money Wisdom podcast with Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP®. They tackle a common concern shared by many parents: ensuring their wealth is managed wisel...

The reality of taxes in retirement starts to become more evident the closer you get, and it's not uncommon for people to wish they had contributed more to a Roth while they were saving. Having those tax-free withdrawals in retirement is wonderful, so what can you do if you find yourself in this position? That's the question we're going to tackle in our latest Money Wisdom question series. Jake Dos...

Investors will often use target date funds in a retirement account because they're easy to use and align with the goal of retiring at a certain time. Is it really that simple or can you find alternatives that will provide better results for what you want to accomplish?   In the latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® take on another listener's...

Life insurance has a clear role within a financial plan, but is it worth keeping a policy once you've reached retirement and don't have as much of a need for income replacement? In the latest episode of the Money Wisdom podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® tackle a listener's question about the necessity of life insurance in retirement. We'll work through the complexities of...

Managing your money in retirement is much simpler when you don't have to debt to account for, but there are times when debt isn't necessarily a bad thing. In this week's Money Wisdom question series, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® tackle a listener's question about whether it's wise to carry debt into retirement. This discussion addresses the pros and cons of carrying debt into...

Many retirees make the decision to move in retirement but should no income tax be the main reason for relocation? While it might save you money in taxes, the move might not benefit you as much as you think. In this episode of the Money Wisdom Podcast, Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® talk taxes in Massachusetts and Connecticut and the considerations that go into moving to another...