Episodes

We're digging into a topic that's become even more important in recent years, inheriting IRAs from a non-spouse, and how the Secure Act 2.0 has changed the game. I'm gonna break this podcast down into three sections. First, the new rules, second, the tax implications, and last, the planning. So let's start with what's changed. Before the Secure

A severance agreement can look like a simple exit packet, but it’s often the most consequential contract you’ll sign in your career. When you’re laid off, fired, or caught in a reduction in force, the pressure to “just sign and move on” is real and the stakes are higher than most people realize. We talk through why severance isn’t a fixed formula and why it’s better understood as a negotiation where the company is purchasing a release of claims and, sometimes, your silence.From there, we dig i...

Your phone is lighting up, the headlines are relentless, and the market feels like it’s swinging with every update. When geopolitical conflict ramps up and oil prices jump, the most common investor impulse is also the most dangerous one: panic selling. We slow the moment down and talk through why “doing nothing” can be the smartest move when volatility is high and fear is louder than facts.We look at how markets have historically reacted to major geopolitical shocks, why they often drop fast a...

A tax bill for gains you never saw coming can sour an otherwise smart investment. We pull back the curtain on mutual fund capital gain distributions and show how manager trades, investor redemptions, and year-end timing can leave you paying taxes even if you never sold a single share. If you’ve ever opened a 1099 and felt confused or frustrated, you’re not alone—and you’re not stuck.We start with the essentials: how mutual funds work, why the IRS treats them as pass-through entities, and what ...

Have you ever wondered how Federal Reserve's interest rate changes can affect the market? Well, Kevin Caron, a seasoned Portfolio Manager from Washington Crossing Advisors, drops by to decode the world of finance. With his in-depth knowledge and expertise, we explore current cash, bond, and stock environments, and discuss the impact that interest changes have on the market. Moreover, Kevin also unravels the potential benefits that can be reaped by savers due to these increases. As we delve d...

Want to uncover the hidden potential of 529 plans and the new twists introduced by the Secure Act 2.0? Wondering how this could be the game changer in your child's college fund or even your first-time home purchase? Then this episode is a goldmine waiting to be discovered. We unpack the quirks and benefits of 529 plans, investment plans that not only allow you to save for a beneficiary but also let you withdraw tax-free. We also delve into the changes brought by Secure Act 2.0, particularly how ...

Have you ever considered how to ensure your financial accounts' safety? Let's discuss the importance of trusted contacts in maintaining financial security. The Finra Rule 2165 is specifically designed to protect individuals over 65 years old or with a mental disability. We will also cover common scams targeting seniors and why keeping your trusted contacts up-to-date is crucial. We will also share real-life examples that illustrate how trusted contacts can safeguard clients.FINRA Video for Tru...

What is a fiduciary? This is a question that Richard Oring is frequently asked by his clients at New Century Financial Group. When looking for an advisor, it's an important question to ask.A fiduciary is an individual or organization legally required to manage a person's assets for that person's benefit, not their own. Being a fiduciary means a financial advisor is held to a higher standard when making decisions for his or her clients.Fiduciaries must follow "duty of care" and "duty of loyal...

With the market volatility we've experienced in 2022, many folks are looking at different types of investment vehicles. One that Richard Oring's clients have been asking about lately is the I Bond. Today, Rich explains what they are and more. I bonds are securities issued by the US Treasury, that are 20 year notes and continue paying interest for an additional 10 years, for 30 total. They can be purchased electronically or by paper. Rich explains the differences, and the l...

There are many things you should consider when it comes to end-of-year tax planning, but today Rich and Jag are focusing on Tax Loss Harvesting.To understand tax loss harvesting, we will want to define terms. Rich walks us through cost basis, capital gains (long and short term), capital losses (long and short term), carry-over losses, and the Wash Rule.Tax loss harvesting is when you take your investment losses for the year and use them to offset your investment gains, lowering your tax burd...

How can I tell how well my portfolio is performing? Through this podcast, it's Richard Oring's goal to educate listeners about managing their money. Today, he and Jag look at different ways to evaluate the performance of your portfolio. First, it's important to understand your strategy and overall objective - is it retirement, savings or something else? Next, we look at total return- and the elements that come together to give you a total return. Then, what time periods do we u...

Do I need a financial advisor if I'm in my 20's? There's a stereotype that financial advisors are only for older adults - either in or approaching retirement. And that's simply not true. Today, Richard Oring of New Century Financial Group sits down with Jag to talk about why young adults need a financial advisor. Having a financial advisor early in your working years can be like having a coach who gets you into strong practices and habits for your entire career. Through ...

Investing in bonds can be an important part of your overall portfolio. But many investors find them confusing. Today, Richard Oring and Jag break down what you need to know.Stocks are pretty straightforward - if you buy a stock, you own a percentage of a company. Bonds, on the other hand, mean you are buying part of a company's debt. Rich explains.While bonds aren't for everyone, they do have some advantages, including diversification, capital preservation, and income generation.There are ...

There are many loans available for homeowners who want to renovate their homes. Today, Richard Oring of New Century Financial Group is joined by Bobby Dmuchowski, VP of Mortgage Lending at Guaranteed Rate.Bobby explains the advantages of going to a mortgage broker, as opposed to going to your bank. He also talks about the differences between HELOC (Home Equity Line of Credit) and renovation loans.We cover Fannie Mae and HFA loans, fixed vs. variable rates, closing costs, underwriting, and ho...

As the tax landscape ever changes, it becomes more important for your CPA and Financial Planner to collaborate.In this episode of the Stuff About Money podcast, Erik Garcia, CFP®, and Xavier Angel, CFP® are joined by fellow financial advisor Richard Oring and CPA Douglas Ziegler, to discuss why you want two of your most important advisors to be in communication.Are you minimizing capital gain taxes? How many opportunities are you missing on your tax return? You also may be surprised what the...

Today, Rich and Jag welcome Xavier Angel, out of New Century Financial Group's New Orleans office. Rich and Xavier thought Black History Month would be a good time to address the issue of financial literacy in the Black community. Xavier cites the percentage of households below the poverty line for White., Black, and LatinX households. The differences are stark. How did we get here? As a Black financial advisor, Xavier can cite examples of systematic inequalities that he'...

January is a time to re-consider your financial goals. Today, Richard Oring of New Century Financial Group explains why financial planning is no longer for only the rich - it's something that is accessible to everyone.You should start a financial plan in order to develop real, tangible goals and work toward them. These can include education planning, retirement planning, big purchases, estate planning, tax planning, investments and more. A financial plan can also lead to better financial commu...

Life Insurance is a very important aspect of your financial future. But it can be very confusing. Today, Richard Oring of New Century Financial Group breaks down everything you need to know about Life Insurance.Why do I need life insurance?What can life insurance protect?Can part of my life insurance benefits be donated to charity?What are the tax implications of life insurance?Next, Rich breaks down the pros and cons of different types of life insurance, including:Term Life Insuranc...

Today, Richard Oring of New Century Financial Group and co-host Jon "JAG" Gay cover the field of financial planning - what financial planners do and who needs one. We all have coaches for different aspects of our lives and financial planning is no different. That's where a planner comes in, and with increased advertising in the field, baby boomers retiring, and the impact of COVID-19, demand for financial planning has never been higher. There are different pricing models that financial plan...

Today Richard Oring of New Century Financial Group and Jag are joined by Bill Cass, Director of Wealth Management Programs at Putnam Wealth Management in Boston.With Democrats now in control of the White House, and both houses of Congress, we've received many questions from clients on what that will mean for taxes going forward. This is one of Bill's many areas of expertise. We look at the the pending COVID relief bill, what can be passed, and what may be done through the process of budget rec...

Today, we visit with Richard Oring's former intern (and nephew) Aaron Kravitz. Aaron is about to graduate a 5-year program at Penn State University with a bachelor's and masters degree in accounting. Not only did Aaron have to navigate the usual challenges of college life - time management, accountability, and budgeting - but he is also finishing his university career in the middle of a pandemic. This of course brings a new set of challenges. Classes are virtual with different prefere...

Some people are savers, and others are spenders. Today, we break down the psychology of money. Joining Richard Oring are certified financial planner Erik Garcia and clinical psychologist Matt Morris, hosts of their own podcast, Building Us.We start by looking at different types of couples - pairs of savers, pairs of spenders, and one of each - and we tell you which pairing often changes...quickly.Matt, Erik, and Rich break down the psychology behind what makes some people spenders and other s...

Today, Richard Oring of New Century Financial Group joins Jon Gay to explain the various fees associated with mutual funds.We cover:What resources are there to find the costs and performanceInvestor.gov - https://www.investor.gov/Morningstar.com - https://www.morningstar.com/Fund ProspectusDefinitions to knowFront End LoadBack End LoadNo LoadFund expenses:Management FeesDistribution/12b1 FeesOtherFund FeesExchange FeeTicket ChargesCustodian FeesHow to know if what I own...

Today Rich and Jag look at ways to keep more of your money and give less of it to Uncle Sam.First, we look at basic tax terms includingAdjusted Gross Income (AGI)Above The Line DeductionsItemized DeductionsStandard DeductionsTaxable IncomeCreditsTotal TaxNext, we tackle ways to reduce your W2 income:Contributing to a traditional 401kFunding a traditional IRAHSAs and FSAsCommuter BenefitsWe also look at different investment strategies that can lower your tax burden.R...