Mr. Money Talks

Mr. Money Talks: Navigating IRA Rollovers and Maximizing Savings (11/02/24)

In this episode, Mr. Money (Mark Rothstein) delves into the common mistakes people make when rolling over their retirement accounts, costing them billions in lost growth. He also shares valuable tips on how to find the best high-yield savings accounts and optimize your savings strategies. Tune in to learn how to avoid costly errors and take control of your financial future.

Navigating the Divide Between Voter Preferences and Economic Realities

In this episode, Mr. Money delves into the fascinating disconnect between what voters want and what economic experts recommend when it comes to economic policies. Explore the stark contrasts between the public's desires and the experts' assessments, and discover how this divide impacts crucial issues like taxes, trade, and retirement planning. Gain insights into the importance of balancing political aspirations with sound economic principles.

10/19/2024 - Navigating the Changing Real Estate and Retirement Landscape

Recorded on 10-19-2024
 
Mark Rothstein, known as Mr. Money, discussed various financial topics on his radio show. He highlighted a survey by Allianz Life showing 63% of Americans worry more about running out of money than death, up from 57% last year. Rothstein explained the new rules for real estate commissions, where buyers now negotiate their agent's fee, affecting the traditional 5-6% seller's fee. He also covered changes in retirement planning due to the Secure Act 2.0, including the elimination of RMDs for Roth 401(k)s and new rules for catch-up contributions. Additionally, he emphasized the importance of planning for healthcare costs in retirement, estimating $165,000 for a single 65-year-old, and the need for legal documents like medical power of attorney, especially for Alzheimer's planning.
 
Sources:
Powell Says ‘Time Has Come’ for Fed to Cut Interest Rates (yahoo.com)
U.S. Hiring Slowdown Hits Stocks, Fuels Bets on Bigger Rate Cut - WSJ
Jobs report revision: US added 818,000 fewer jobs than believed (msn.com)
IRS reminder for schoolteachers: Up to $300 in classroom expenses deductible for 2024 | Internal Revenue Service
Child and Dependent Care tax credit can help offset summer day camp expenses | Internal Revenue Service (irs.gov)
905dcf96-70c4-45f8-8b00-911cac693605 (pimco.com)
A big Social Security shake-up is coming in 2025. Are you prepared? (usatoday.com)
Social Security COLA 2025 Estimate Drops to 2.6% | ThinkAdvisor
Most Americans Now Fear Poverty in Retirement More Than Death | ThinkAdvisor
Cutting Fees. Going It Alone. New Rules Are Changing How We Buy and Sell Homes. - WSJ
The New Etiquette of Negotiating With Your Real-Estate Agent - WSJ
PressReader.com - Digital Newspaper & Magazine Subscriptions
Changes in Retirement Savings Rules Before Year’s End: What To Know - WSJ
Here's How Much Retiring Clients Can Expect to Pay for Health Care: Fidelity | ThinkAdvisor
Understanding Medical Power of Attorney: Key Steps to Protect Your Health Decisions - Retirement Daily on TheStreet: Finance and Retirement Advice, Analysis, and More
 

Mr. Money Talks: Navigating Taxes and Fees to Maximize Your Retirement 10/12/2024

Live show 10/12/2024
 
In this episode, financial expert Mark Rothstein, known as "Mr. Money," delves into strategies to avoid higher taxes after the loss of a spouse and how to minimize the impact of fees in 401(k) and 403(b) plans. He also provides guidance on choosing the right financial advisor to ensure your best interests are prioritized.
 
Sources:
Messing Up the Closest Thing to a Sure Thing in the Stock Market - WSJ
Americans' top 5 financial regrets of 2023 | Financial Planning (financial-planning.com)
ERISA, the law creating modern 401(k) plans, was enacted 50 years ago (usatoday.com)
Tax Strategies for Surviving Spouses: How to Avoid Paying Higher Taxes - WSJ

"The Power of Financial Patterns and Predictability" (10/05/24)

Live Broadcast 10/05/24
In this episode, financial expert Mark Rothstein, known as "Mr. Money," shares invaluable insights into the patterns and predictability of the financial markets. He dispels common misconceptions, empowering listeners with the knowledge and confidence to navigate the stock market and achieve financial freedom.
 
Sources:
Messing Up the Closest Thing to a Sure Thing in the Stock Market - WSJ
Americans' top 5 financial regrets of 2023 | Financial Planning (financial-planning.com)
ERISA, the law creating modern 401(k) plans, was enacted 50 years ago (usatoday.com)
Tax Strategies for Surviving Spouses: How to Avoid Paying Higher Taxes - WSJ
 
 
 

Mr. Money Talks: The Secrets To Successful Investing (9/28/24)

Live Broadcast 9/28/24
 
Mark Rothstein (Mr. Money), discussed common financial regrets, emphasizing the importance of saving for retirement and emergencies. He highlighted the necessity of understanding financial patterns and the benefits of long-term investing. Rothstein shared key financial facts: corrections occur annually, bear markets every three to five years, and historically, bear markets have turned into bull markets. He stressed the importance of staying invested, minimizing fees, and being tax-efficient. Rothstein also provided an income tax update, advising listeners to file by October 15 and consider tax professionals for better returns.
 
Sources:
What Happens if You Don’t File Your Taxes by April 15 - WSJ
Extension filer reminder: Choose a tax preparer carefully | Internal Revenue Service (irs.gov)
IRS has options to help people who missed the April filing deadline | Internal Revenue Service
Pros and Cons of Waiting Until the Last Minute to File Your Taxes | Taxes | U.S. News (usnews.com)
More Americans claim caretaker tax benefits for looking after parents (usatoday.com)

Mr. Money Talks: Navigating Taxes, Retirement, and the Economy (03/16/24)

In this episode, financial expert Mark Rothstein, aka "Mr. Money," delves into the intricacies of tax planning, working in retirement, and the latest economic trends. He provides valuable insights on when to hire a tax professional, the benefits and challenges of continued employment, and his analysis of the Federal Reserve's interest rate decisions. Listeners will gain practical knowledge to optimize their financial well-being.

Mr. Money Talks: Navigating Real Estate Changes, Tax Savings, and Retirement Strategies (03/24/24 recorded 03/16/24)

In this episode, financial expert Mark Rothstein, also known as "Mr. Money," discusses the recent $418 million settlement between realtors and the National Association of Realtors, which is set to bring significant changes to the home buying and selling process. He also delves into valuable tax-saving strategies, including education tax credits and deductions, as well as common mistakes to avoid with IRAs and 401(k) withdrawals. Listeners will gain insights to help them make informed financial decisions.

Mr. Money Talks: Navigating Early Retirement and Healthcare Options (03/30/24 recorded 02/03/24)

In this episode, financial expert Mark Rothstein, aka "Mr. Money," delves into the challenges and considerations for those looking to retire before the age of 65. He discusses the importance of healthcare coverage, exploring options like COBRA, the Affordable Care Act (ACA) marketplace, and strategies to minimize costs during the pre-Medicare years. Listeners will gain valuable insights to help them make informed decisions about their retirement planning and healthcare needs.

Mr. Money Talks: Navigating Retirement Fears and Financial Preparedness (9/21/24)

Live broadcast 9/21/24
 
In this episode, financial expert Mark Rothstein, known as "Mr. Money," delves into the growing concerns Americans have about retirement, including the fear of retirement being more prevalent than the fear of death. He explores the key drivers behind these retirement fears, such as rising long-term care costs, poor investment decisions, and the challenge of maintaining a desired standard of living. Rothstein also discusses the recent Federal Reserve interest rate cut and its implications for mortgages, credit cards, and the stock market. Additionally, he provides insights into the potential impact of the expiration of the 2017 Tax Cuts and Jobs Act on individual tax liabilities. Listeners will gain valuable strategies for managing their finances, securing the best bank interest rates, and staying informed about important financial reports and vehicle recalls.
 
Sources:
What's more scary than dying? Many Americans say retirement. (usatoday.com)
The Federal Reserve Pivots to Fight Unemployment - WSJ
Americans Are Falling Behind on Their Bills. Wall Street Is Alarmed. - WSJ
Americans Are Desperate for Relief. The Rate Cut Is a Glimmer of Hope. - WSJ
Stocks Slip After Fed Cuts Rates - WSJ
Trump's Tax Cuts Could Expire in 2025. If They Do, Here's Where/Who Will Feel It the Most. - WSJ
2024 Tax Reference Guide (pimco.com)
What if I can’t pay my taxes? | Internal Revenue Service (irs.gov)
Lock in your CD rates now. The Fed's expected to cut rates in 10 days. (usatoday.com)
Tech checkup: How to review credit reports, medical data, car recalls (usatoday.com)
Eight in 10 Americans worried over election's impact on their nest eggs - Investment News
Voters Love the Policies That Economists Love to Hate - WSJ
What Money Issues and Food Have in Common - Articles - Advisor Perspectives
What Can Your Small Business Do Now to Lower Taxes for 2024? (bza.me)
Seven Reasons to Update Your Will (dhclawyers.com)