The Wise Money Show™

Depending on your age, certain areas of your financial life require more attention. In this new series, we're going to highlight one decade at a time to discuss what important financial decisions need to be made during that stage of life. We kick off the series by starting in your 70s; on this episode of Wise Money. Season 7 Episode 41 Have a question for the show? Call or text 574-222-2000 or lea...

The Roth IRA does not have a required minimum distribution (RMD) like the IRA does once you turn 72. But, do you have to take an RMD from a Roth 401(k)? We're covering that topic and answering other listener questions during this episode of the Wise Money Show. Season 7 Episode 40 Have a question for the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial P...

Although a market pullback has been anticipated, the timing and magnitude of it is always unknown. What is causing the recent pullback, when might markets bottom, and what adjustments should you make with your investments during the volatile market? We are answering those questions and more during this episode of the Wise Money Show. Season 7 Episode 39 Links: https://www.investopedia.com/articles...

There are times when you should consider a Roth Conversion, and times in your financial life when it doesn't make sense. For the times when you should consider doing one, what steps should you follow to do the Roth Conversion? Following these steps will help you avoid unnecessary and costly mistakes. That and more during this episode of the Wise Money Show. Season 7 Episode 38 Have a question for...

If you need to access your IRA after turning age 59.5, you are able to do so and pay the taxes on your withdrawal without penalty. However, what if you need to access your funds before that age? What are the exceptions to the 10% early withdrawal penalty when taking IRA withdrawals prior to age 59.5? We'll share them and some changes to this list during this episode of the Wise Money show. Season...

When you need to start drawing money from your retirement accounts, there are good ways to do it and there are not so good ways to do it. We are telling you the worst ways to withdraw money from retirement accounts so you can avoid it on this episode of Wise Money. Season 7 Episode 36 Have a question for the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financi...

When you envision retirement, the last thing you are thinking about is the surprises you may come across. What are those surprises, obstacles, and decisions you'll face when you get into retirement? We've helped thousands of people retire and from that experience, we want to share what the biggest surprises are in retirement and how to prepare for them during this episode of the Wise Money Show. S...

Car prices have absolutely skyrocketed over the past year -- car lots are empty and used cars are going up in value, not down. Is now the time to consider leasing a vehicle? We'll help you decide in this episode of the Wise Money Show! Season 7 Episode 34 Have a question for the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit www.korhorn...

A password manager is a helpful tool that not only keeps your passwords safe but can also be a huge benefit for your estate plan. We'll explain what a password manager is and how they work in this episode of the Wise Money Show. Season 7 Episode 33 Have a question for the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit www.korhorn.com or...

With house prices going up, it is likely to become more common to have a mortgage in retirement. Should you avoid having a mortgage in retirement? What strategies should you consider to pay off your mortgage near or in early retirement? We are covering that and more in this episode of the Wise Money Show. Season 7 Episode 32 Have a question for the show? Call or text 574-222-2000 or leave a commen...

Your financial life is more interconnected than you realize, which is why it is essential that you take a comprehensive financial planning approach to your financial life and decisions. What are the most common areas of your financial life that you didn't realize were actually connected and why? We'll explain in this episode of the Wise Money Show. Season 7 Episode 31 Have a question for the show?...

When you pass away, who gets your assets and how they get them is critically important. The decisions -- hopefully the proactive, planful decisions -- that you make can influence the amount of stress and cost there is during this emotional time. In this episode, we share the three ways that assets transfer when you die, which one is preferred, and how to proactively structure your assets for a pru...

Did you trade cryptocurrency in 2021? What about repaying a Coronavirus Related Distribution? Those are just a couple of the unique issues you may face when filing your taxes this year. Guest Ryan Fair, CPA, CFP® joins us to bring clarity to these tax changes and others on this week's episode of Wise Money! Season 7 Episode 29 Have a question for the show? Call or text 574-222-2000 or leave a comm...

As HSA (Health Savings Account) eligible High Deductible Health Plans become more popular, and as tax laws adapt such that the HSA is an even more versatile tool for your finances, how can you optimize the way you contribute and use your HSA? We're sharing three unique ways that you should consider implementing in your finances on this episode of Wise Money. Season 7 Episode 28 Have a question for...

To combat inflation, the Fed is set to increase interest rates multiple times this year. What happens to stocks when the Fed is raising rates, and what other financial implications do you need to be aware of in this rising rate environment? That and more on this hour of the Wise Money Show! Season 7 Episode 27 Have a question for the show? Call or text 574-222-2000 or leave a comment! Want to spea...

It's tax season again, and this one comes with a host of new rules just like the last several. What tax planning strategies should you be on the lookout for this tax season and ready to implement before you file your taxes? That and more on this hour of Wise Money. Season 7 Episode 26 Have a question for the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financi...

Your age can influence what financial options are available to you and therefore can influence your financial plan and decision making. What are those important inflection ages so that you can properly plan ahead? We're going to run through your entire financial life pointing out the inflection ages so that you can plan ahead. That and more in today's episode of Wise Money! Season 7 Episode 25 Hav...

When you are moving, it’s imperative that you act fast in today’s housing market. Often times that means you start the buying process before you start the selling process of your existing home. This reversal has many people wondering where their down payment should come from for the home they are purchasing. We’ll share the top ideas on this episode of The Wise Money Show. Season 7 Episode 24 Have...

The stock market when from unusually calm to extremely turbulent in just a matter of days. What is causing the recent volatility and what's the best way to manage it? That and more on this episode of the Wise Money Show. Season 7 Episode 23 Have a question for the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit www.korhorn.com or call 57...

Are there gaps in your retirement savings? Inevitably there will be times in your life when you’re unable to save what you hoped, or a retirement plan is unavailable to you through your employer. What are your options then and what action should you take? We're helping you with that on today's episode of Wise Money! Season 7 Episode 22 Have a question for the show? Call or text 574-222-2000 or lea...

2021 was one of the best years in Stock Market history with index performance more than double the long-term average and volatility well below normal. What should we expect for 2022 and how should you position your investments for the new year? We're hitting all of that and more this hour on Wise Money! Season 7 Episode 21 Have a question for the show? Call or text 574-222-2000 or leave a comment!...

Lots of people are leaving the workforce or changing jobs, a phenomenon called the Great Resignation. With the Great Resignation there is the great decision - what do you do with your 401(k) at your old job? What are your options and what is the wise decision to make with these dollars? We'll help you answer that on this episode of Wise Money. Season 7 Episode 20 Have a question for the show? Call...

Start the new year out right by learning and putting to use the Wise Money Financial Goal Planning Process. Whether you have a New Years' resolution you're hoping to achieve in 2022 or simply need to set or update your financial goals. We're sharing the Wise Money Financial Goal Planning Process in this hour of the Wise Money Show. Season 7 Episode 19 Have a question for the show? Call or text 574...

Merry Christmas from the Wise Money Show! How can you eliminate the financial stress that tends to be ever-present this time of year? The holidays don’t have to be that way with the right financial structure. We’ll address the 3 most common areas of financial stress over the holidays to help you eliminate them for good in this episode of the Wise Money Show. Season 7 Episode 18 Have a question for...

What are the contribution limits to IRA’s, 401(k)’s, and HSA’s for 2022 and how should that influence your tax shelter strategy? We’ve got those answers coming up, but more important than that, what is your overarching tax shelter strategy? That and more coming up in this episode of the Wise Money Show! Season 7 Episode 17 Have a question for the show? Call or text 574-222-2000 or leave a comment!...