100 episodes

Listen to Johnson Brunetti's Money Wisdom with Joel Johnson CFP®, host of Better Money Television program and Forbes Contributor. Gain true financial wisdom and advice aimed at educating you about all of your financial options when it comes to retirement so you can make the best decisions for you and your family. Get information and education that can bring you peace of mind with your savings and retirement. Whether it’s your 401k account, IRA, or an underperforming asset, Joel Johnson can answer your questions and make you more aware of issues that may affect you.

Money Wisdom CBS Local

    • Investing
    • 4.2, 6 Ratings

Listen to Johnson Brunetti's Money Wisdom with Joel Johnson CFP®, host of Better Money Television program and Forbes Contributor. Gain true financial wisdom and advice aimed at educating you about all of your financial options when it comes to retirement so you can make the best decisions for you and your family. Get information and education that can bring you peace of mind with your savings and retirement. Whether it’s your 401k account, IRA, or an underperforming asset, Joel Johnson can answer your questions and make you more aware of issues that may affect you.

    Should You Review Your 401K?

    Should You Review Your 401K?

    The retirement accounts set up through your employer are powerful saving vehicles but are you managing it properly? Some people obsess over their investments while others set it and forget it. Which strategy works the best and how can an advisor play a key role in your strategy? We’ll tell you about that on this episode.
     
    Read more and get additional financial resources here: https://johnsonbrunetti.com/?p=5704 
     
    Today's show schedule: 
    0:28 – The plan for today’s show.  
    1:52 – What goes wrong when you don’t pay enough attention to your account?
    3:10 – What about the people are obsessing over their 401k?
    5:15 – Joel shares a story about a strategy that a huge company in LA uses.
    6:12 – What’s the best way to get help in a 401k when it’s set up to do it yourself?
    7:50 – How investing has changed in 401k accounts.

    • 12 min
    Mailbag: Social Security Age, Life Insurance Policy, Refinancing, & More

    Mailbag: Social Security Age, Life Insurance Policy, Refinancing, & More

    It’s time for another mailbag edition of the show and we’re answer five of your questions that cover a variety of retirement and financial planning topics.
     
    Read more and get additional financial resources here: https://johnsonbrunetti.com/?p=5631 
     
    Today's show schedule: 
    0:18 – Mailbag Question #1: All the experts say you should work until 70 and then start Social Security. I’m only 57 and I can’t imagine working 13 more years. How important is this notion of working until 70?
    2:02 – Mailbag Question #2: A home in our neighborhood was recently purchased for $350K and flipped less than a year later for $500K. I’m considering refinancing our home and re-doing our kitchen. Good move?
    3:17 – Mailbag Question #3: I’ve interviewed 7 different financial advisors. They all have aspects that I like but no one seems perfect. Should I keep interviewing or am I being too picky?
    6:14 – Mailbag Question #4: I have a life insurance policy that I’ve had for many years. I was able to stop paying premiums more than a decade ago while keeping the policy in place. But I just got a letter saying I need to start paying again to keep the policy. What happened?
    8:45 – Mailbag Question #5: I have whiplash from watching the market for the last few months. What can I invest in that won’t be so volatile?
    10:46 – If you don’t have a plan yet, here’s what you can do to take the first step.  

    • 14 min
    Investment or Not?

    Investment or Not?

    Today we’re going to play a little game called ‘Investment or Not?’ where we’ll present a statement to Joel and he’ll tell us whether or not it’s an investment or something else.
     
    Read more and get additional financial resources: https://johnsonbrunetti.com/?p=5626 
     
    Today's show schedule: 
    0:20 – Let’s a play a game: Investment or Not
    0:36 – 1) I have a long commute to work and need a reliable vehicle so I think it’s a good investment to spend more on a nice car.
    1:57 – 2) My wife always nags me about the boxes of old baseball cards I keep in the attic but I have to remind her that they’re an investment.
    3:33 – 3) We’re putting in a screened-in porch. It’ll cost a little more than we expected but it’s a good investment in our home.
    5:08 – 4) The company is doing well as it is but we can grow a lot faster by hiring this additional person so we’ve decided to make that investment.  
    6:08 – 5) We just found a piece of land in the mountains at what seems to be a really good price. We might buy it and eventually build on it or we might just hold onto it and eventually sell it.
    7:38 – 6) This stock is rising quickly. I’m investing in 100 shares to hopefully make a quick buck and sell it later this year to pay for a vacation.  
    8:43 – What we need to make a recommendation to someone.

    • 11 min
    Dropping Financial Truth Bombs

    Dropping Financial Truth Bombs

    A lot of commonly held financial beliefs might not be as accurate as you’d like to believe. Joel will drop the truth on this episode and maybe open your eyes to a few things you weren’t aware of. 
     
    Read more and get additional financial resources here: https://johnsonbrunetti.com/?p=5410 
     
    Today's show schedule:
    0:36 – Bonds aren’t always as great for retirees as people think.  
    1:32 – Income tax rates are currently close to historical lows.
    2:21 – The hardest part of investing is managing your own behavior.  
    3:28 – Just because you’re an expert in one area doesn’t mean you’re an expert with money.
    6:30 – You probably have more risk in your portfolio than you realize.
    7:21 – Mailbag Question #1: My primary retirement concern is rising taxes down the road. Does that mean all of my retirement savings should be going into Roth?
    8:39 – Mailbag Question #2: At this point in my life I’m not interested in making my portfolio much bigger. I just want to protect what I have. Is that short-sighted?
    10:02 – Set up your visit and get your customized Money Map.

    • 11 min
    5 Financial Commandments Everyone Should Follow

    5 Financial Commandments Everyone Should Follow

    Today we’re getting back to the basics of financial planning by sharing the five commandments. These rules of thumb will serve as your financial compass and ensure that you’re on the right path for retirement.
     
    Read more and get additional financial resources here: https://johnsonbrunetti.com/5-financial-commandments-everyone-should-follow/ 
     
    Today's show schedule: 
    0:43 – Financial commandments today
    1:23 – No 1 - Thou shalt not compare your investments to the stock market without proper context.
    3:49 – No. 2 - Thou shalt not give up before giving your strategy enough time to play out.  
    5:05 – Warren Buffett always finds a way to simplify things.
    5:50 – No. 3 - Thou shalt not chase big returns later in life.
    6:18 – No. 4 - Thou shalt not ignore cost and fees.
    7:08 – No. 5 - Thou shalt not overlook the importance of rebalancing and diversifying.
    8:31 – Mailbag Question #1: I feel good about the amount of savings we have relative to the amount of income we need in retirement. I’m worried about nursing home costs and don’t have a good feel for how to plan for that. What’s your approach?
    10:33 – If someone doesn’t have a plan, what’s the process to make that happen?

    • 14 min
    Four Core Financial Planning Philosophies

    Four Core Financial Planning Philosophies

    Joel and the team have returned back to the office now that the northeast is beginning to open back up, and people are curious how the planning process might be changing. While some things might be shifting, our four core philosophies will remain entrenched in everything we do.
     
    Read more and get additional financial resources here: https://johnsonbrunetti.com/?p=5378 
     
    Today's show schedule: 
    0:34 – Joel and his team back in the office again.
    1:46 – Are people shaking the complacency and ready to get going again?
    2:56 – How is the financial planning conversation different now than it was before?
    5:46 – The four core philosophies we preach
    9:36 – How are these philosophies woven in to conversations with clients?
    14:23 – Mailbag Question #1: I’m thinking about starting my own business but I would have to pull money about $75,000 out of my IRA, which would require paying taxes and penalties. I’m not scared of those penalties but interested to hear your take on it.
    17:09 – Massive wealth is built without diversification.
    19:09 – Mailbag Question #2: My mom passed away and left me about an IRA of about $350,000 in it. What do I need to know about this account and how should I invest it?
    20:44 – Mailbag Question #3: My kids are both in their 20s and have been furloughed. They live with us so expenses are limited, but I’m wondering how to best help them financially during this time.
     

    • 25 min

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