Wealth Health Radio with Joe Murphy

The conversation covers the proposed changes to taxation and retirement planning under President Biden's 2025 budget. The focus is on the potential impact of these changes on individuals and corporations. The discussion highlights the potential for higher taxes on higher income earners and the negative consequences of raising corporate taxes. The conversation also touches on the importance of plan...

The conversation covers significant changes in retirement planning, including the impact of crypto regulations, technical glitches in the stock market, the transition from defined benefit plans to defined contribution plans, and changes in required minimum distributions. It also discusses strategies for maximizing retirement income and the implications of increased contribution limits, target date...

The conversation covers the topic of retirement planning, financial regrets, and the role of annuities in retirement income planning. It emphasizes the importance of early retirement planning and the impact of inflation and market volatility on retirement savings. The discussion also delves into the different types of annuities and their suitability for retirement income strategies. The conversati...

In this conversation, Joe Murphy discusses the financial and economic stories that are causing concern and confusion. They analyze a documentary called 'Finding the Money' and share clips from an interview with Jared Bernstein, Chair of the United States Council of Economic Advisers. They discuss the concept of modern monetary theory and its implications for the economy. They also debate the valid...

The conversation covers the topic of retirement planning, financial regrets, and the role of annuities in retirement income planning. It emphasizes the importance of early retirement planning and the impact of inflation and market volatility on retirement savings. The discussion also delves into the different types of annuities and their suitability for retirement income strategies. It also explor...

There are plenty of questions about retirement planning. Like how much income do I need, or will it really cost 300-thousand dollars in healthcare when I retire. We’ll answer some of the most common questions pre-retirees ask advisors on today’s show. In addition, If you think you don’t have to worry about long term care, think again. Typically, women need long term care longer (3.7 years, on aver...

Joe Murphy discusses various financial topics, including the importance of tax efficiency in retirement planning, the potential impact of stagflation on the economy, the challenges faced by small businesses, and the strategies for building steady income in retirement. He also addresses questions about managing an individual retirement account (IRA), investing in precious metals, and the legitimacy...

In this conversation, Joe Murphy and Steve Sedahl discuss eight things to know when beginning retirement savings in your 50s. They cover topics such as catch-up contributions, compounding interest, reassessing retirement age, downsizing or relocating, maximizing Social Security, healthcare costs, and debt reduction. They emphasize the importance of planning and making informed decisions to improve...

In this conversation, Joe Murphy discusses the potential impact of the Tax Cuts and Jobs Act (TCJA) sunsetting in 2026 and how it can affect tax rates. He explains the concept of Roth conversions as a strategy to take advantage of current tax rates before they potentially increase in the future. Joe also discusses the factors to consider when deciding whether a Roth conversion is a good idea, such...

In this episode, Joe Murphy discusses the impact of inflation on retirement planning. He explains how inflation works and the decrease in purchasing power it causes over time. He emphasizes the importance of planning for inflation and diversifying investments to mitigate risk. Joe also highlights the need for an emergency fund and the role of a financial advisor in navigating the current volatile...

In this conversation, Joe and Steve discuss various financial topics, including the national debt, retirement planning, and investing options. They emphasize the importance of addressing the national debt and holding the government accountable for its spending. They also provide insights on retirement planning, suggesting that retirement is more about income than age and discussing the benefits of...

The conversation highlights the importance of reliable information in the financial industry, especially in the age of social media. It warns against scams and misinformation that can be spread through platforms like TikTok. The need for financial education is emphasized, particularly in schools, to empower individuals to make informed decisions. The discussion also touches on the balance between...

The financial wellness of the economy is a common concern among Americans. The Federal Reserve is playing a waiting game on rate cuts, considering factors such as inflation and market volatility. The concept of a soft landing, avoiding a recessionary GDP backtracking, is discussed. The Fed's guessing game and the concept of super core inflation are explored. The rising credit card debt and financi...

In this episode, Joe Murphy discusses the taxation of various sources of income in retirement. He debunks the misconception that there are no taxes in retirement and highlights the importance of tax planning. Joe explains how Social Security benefits, pensions, interest-bearing accounts, dividends, and retirement accounts are taxed. He also emphasizes the tax benefits of life insurance proceeds an...

Celebrities often face financial challenges that require the assistance of a financial advisor to help manage their wealth and long-term financial stability. In this episode, Joe Murphy and Steve Sedahl discuss cautionary tales from Hollywood, including the financial mistakes of celebrities like Steve McNair and Billy Joel. They also explore the You Earned It, You Keep It Act, which proposes revis...

Joe Murphy and Steve Sedahl engage in casual conversation and emphasize the value of open communication. They discuss the recent Labor Department jobs report and question the accuracy of government data. The conversation shifts to the uncertainty in the global economy and the need for careful decision-making. They address the challenge of getting spouses involved in financial planning and caution...

In this episode of Wealth Health Radio, Joe and Steve discuss the parallels between football and retirement planning. They cover offensive strategies such as understanding goals, budgeting, learning about different investment vehicles, diversifying among asset classes, and building wealth. They also discuss defensive strategies including preventing gaps in your plan, having an emergency fund, and...

On today's show, Joe Murphy discusses important considerations for building a modern, holistic, and personalized retirement plan. The conversation covers topics such as determining enough for retirement, inventorying accounts and taxation, moving 401k to personalized IRA, understanding Social Security, utilizing health savings accounts (HSAs), choosing health insurance, using annuities for retirem...

On this episode of Wealth Health Radio, Joe Murphy discusses various topics related to retirement planning and unexpected life events. The conversation covers boomerang kids and the sandwich generation, downsizing and managing expenses, taxes in retirement, Hertz selling its EV fleet, saving for retirement and overlooking important factors, wealth transfer and estate planning, retirement benefits...

A new year with new resolutions. The question is, how long will they last. Joe Murphy has some ways you can execute and succeed at improving your finances and reaching your financial planning goals in 2024. Do you know your Social Security risk score? Joe can help you find out.  That and much more on Wealth Health Radio with Joe Murphy. Call or text 800-930-5905. Visit MWMFinancial. Tax to learn m...

To kick off 2024 Joe Murphy breaks down some strategies on helping you get to retirement. Topics include: longevity risk, healthcare costs, overestimating investment income and being too conservative with your investments. That and much more on Wealth Health Radio with Joe Murphy. Call or text 800-930-5905. Visit MWMFinancial. Tax to learn more.  See omnystudio.com/listener for privacy information...

You know about what it costs to run your household on a monthly basis and you know you should be padding that emergency fund. But are you? It’s the little things that can cause the biggest problems in retirement. Joe Murphy outlines how to avoid costly mistakes and get your financial health in order for 2024. That and more on this episode of Wealth Health Radio with Joe Murphy.  Call or text 800-9...

As we enter 2024, it's crucial to assess your budget, debt, and investments in alignment with your financial objectives. To help kickstart the process Joe Murphy has put together steps to help you get started. That and more on this episode of Wealth Health Radio with Joe Murphy.  Call or text 800-930-5905. Visit MWMFinancial. Tax to learn more.  See omnystudio.com/listener for privacy information.

Turning 50 puts you firmly in the financial red zone. There are also benefits to turning another year older. Joe Murphy digs into the most common perks that kick in once you turn 50, 59 1/2 and 65. There’s plenty of talk about the future of Social Security and Joe has an opportunity for you to see if you could be subject to a reduction in your benefit. That and more on this episode of Wealth Healt...

If you’re in the ‘financial red zone’—that’s five to ten years away from retirement, it’s more important than ever to make sure your plan is in place. Joe Murphy has some tips to help shore up that game plan to help you score big in retirement. Joe gives you an opportunity to get your own Social Security risk score. That and more on this episode of Wealth Health Radio with Joe Murphy.  Call or tex...