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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.

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  1. All Episodes
  2. Half-Baked Financial Ideas

Half-Baked Financial Ideas

Aug 2, 2024

We’ve all had an idea that we acted on without giving it much thought. That’s fine when you’re choosing dinner or picking out new socks, but it’s not the best approach to managing your finances.

In the latest episode of the Money Wisdom podcast, Matt Pastor, RICP® tackles the topic of "half-baked" financial ideas. These are the types of decisions that might seem clever at first glance but can have significant negative consequences if not thoroughly thought through.

 

Here’s some of what we discuss in this episode:

  • Why signing your house over to your kid(s) while you’re still alive might not be the best plan.
  • Starting your Social Security as early as possible while you’re still working could cause you to lose some of your benefits.
  • Converting all of your IRA money into a Roth at the same time.
  • Why you might not want to cancel your life insurance once you’re retired.
  • Investing your emergency fund money to get a better return.

 

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