Wisdom for Your Wisdom Years

In today's episode, Matt invites his CPA and frequent collaborator Abbie McGuire to talk about a the tax implications of the Big Beautiful Bill in detail, including changes to the standard deduction, estimated tax payments, new temporary tax deductions, and more. They also discuss why it's important to build a relationship with your tax provider and plan ahead for future tax changes by engaging wi...

The industry of financial advice is filled with both good and bad actors, and it can be difficult to determine which advisors can be trusted, especially if you have limited knowledge of financial jargon and industry practices. It's important how different advisors structure their practice, how they get paid, and what incentives they have for selling investment products. A key term is  fiduciary, ...

Golf is a game that can bring people together, but it can also bring families together in a powerful way. To that end, US Kids Golf has a mission to create opportunities for kids to learn to play golf, form bonds with other kids, and create lasting memories on the golf course. John Kim is the Senior Director of Communications and Foundaton Relations at US Kids Golf, and has seen firsthand how thos...

As a follow up to episodes #7 and #8 on the Big Beautiful Bill and the numerous implications it has on retirement and taxes, in today's episode Matt clarifies how Social Security income is taxed. He breaks down the important concepts to understand for SS taxation, including the difference between adjusted gross income and provisional income, and the brackets for single and married filing jointly t...

The artist known as Prince died in 2016, leaving behind a substantial estate including real estate, a vast catalog of released and unreleased music, and publishing rights... with no will in place or plans for how the estate should be divided up amongst his heirs. This is a surprisingly common occurence, and while you may not have an estate like Prince valued in the hundreds of millions, a little b...

Matt gets frequent questions about the name "Benetas" in Benetas Wealth. It's a made up word, a portmanteau of the Latin bene , meaning wellness or rightness, and - tas,  a suffix indicating a state of being. But it's meaning runs deep. Benetas is a state of wellbeing, in particular a state of financial wellbeing which radiates into the rest of life. Matt believes in helping people achieve financi...

The One Big Beautiful Bill Act changed a lot of things in the tax code, including your tax treatment in retirment. Matt walks through how these changes may affect your tax situation, and whether you should consider converting your 401(k) or traditional IRA funds to a Roth IRA. This is a complex and multifactorial analysis, so Matt always recommends you talk with your advisor about how to minimize...

On July 4, 2025 President Trump signed into law the One Big Beautiful Bill Act, a sweeping piece of legistlation which includes a number of substantive revisions and additions to the tax code. Matt walks through the highlights of the bill and how it affects retirees and business owners, including changes to social security income tax, bonus depreciation, short term rental tax treatment, and more....

As he has mentioned in previous episodes, Matt Murphy partners with Commonwealth Financial Network for their broker/dealer and support services. It is much more than a business relationship, however; there are family ties as well! To that end, Matt invites Kyle Martin of Murphy Financial Group, a third generation wealth advisor and Matt's cousin once removed. Like Matt, Kyle grew up with a deep lo...

One of the old saws of the personal finance space is the "4% Rule," which states that in retirement, you can withdraw 4% of the value of your investment portfolio each year without risking running out of money by the end of your life (that is, your portfolio will continue to grow at a rate that offsets the amount you are withdrawing, such that it will never be drawn down to zero). If 4% of your po...

Roth IRA's have some notable advantages, one being their tax advantaged status. Roth distributions are tax-free providing certain conditions are met. Savvy seniors can manage their tax burden by using Roth IRA's and managing their adjusted gross income. Certified Financial Planner Matt Murphy lays out a strategy for converting funds in traditional and other retirement accounts to Roth IRA's, and u...

In today's episode, Matt talks about the physical side of preparing for retirement, or enjoying retirement if you're already there. He is joined by Starting Strength Coach Pete Troupos, who has been coaching people of all ages to get strong using barbells since 2016. Pete is the head coach of Starting Strength Orlando, and also helps train and develop new coaches in the Starting Strength Community...

The news is ablaze with tariffs and trade wars these days, as the Trump administration enacts tariffs, or taxes essentially, on foreign produced goods entering the US. The news being what it is, of course every outlet's take is biased toward whichever end of the political spectrum they support, with plenty of supposition and fearmongering. In today's episode, Matt Murphy cuts through the noise and...

In today's episode, Matt reviews common strategies for managing your cash flow in retirement, and outlines the major risks to your income you need to plan for in retirement. Many people focus on the big number , the total amount of savings they need before they can safely retire. There's a lot more to it than that, however. When you retire you will need to a certain amount of cash live on, month t...

Retiring is just the first step of life after work. Matt Murphy, Certified Financial Planner, wants to help you retire well , with a life of fullness, meaning, and generosity. Each week Matt delivers episodes on retirement planning, investing, tax strategy, as well as staying healthy in your retirement years with fitness and good nutrition. Matt also shares some golf and travel tips, and other way...