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How Much Life Insurance Do I Need? (Ep. 26)

How Much Life Insurance Do I Need? (Ep. 26)

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Life insurance might not be the most exciting topic, but it’s crucial for safeguarding your financial future.

And the golden question is: How much life insurance is enough?

We’ve got the answer this week on The MedTech Wealth Advisor Podcast. Matt Nelson and Jacob LaRue talk about how to determine the appropriate amount of life insurance coverage to meet your needs.

They guide you through the purpose of life insurance, the various frameworks to determine the necessary coverage for you, and how to select the right type of policies based on individual needs. 

They discuss: 

  • The purpose of life insurance and its role in financial planning
  • Different frameworks for calculating the necessary amount of coverage
  • The distinction between group and personal life insurance policies
  • How to tailor life insurance plans to unique family and financial situations.
  • And more!

Resources:    

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Investment FAQs Answered: CDs, Interest Rates, and the Election (Ep. 25)

Investment FAQs Answered: CDs, Interest Rates, and the Election (Ep. 25)

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Navigating your investment options can feel overwhelming. Especially in 2024 with inflation, interest rates, and the election on everyone’s mind.

In this episode, Matt Nelson, CFP® is joined by Director of Investments for Perspective 6 Group, Matthew Finley, CFP®. Together they tackle some of the most pressing financial questions they’ve received from clients. You’ll gain insights into how economic changes and market trends impact personal finance decisions.

Whether you’re looking to maximize returns or reduce financial risks, this episode offers practical answers to guide you through common investment dilemmas.

They discuss: 

  • Relevant strategies for rolling over a maturing CD and alternative options.
  • Whether to pay cash or take out a loan for buying a home in the current financial climate.
  • The implications of investing a large inheritance.
  • How the upcoming election could potentially influence your investment portfolio
  • And more!

 

Resources:

 

Connect with Matt Nelson:    

 

Connect with Perspective 6 Group:       

 

 Connect with Matthew Finley: 

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What Are Roth Conversions and How Can They Benefit You?

What Are Roth Conversions and How Can They Benefit You?

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Roth conversions offer a powerful way to provide tax-free growth and withdrawals in retirement, but success depends on careful planning. 

By transferring funds from traditional IRAs or 401(k)s into a Roth IRA, you can manage taxes upfront. Allowing your investments to grow without future tax obligations. The key to maximizing these benefits lies in timing and understanding how tax brackets, estate planning, and asset allocation all play a role.

Matt Nelson, CFP® and Jacob LaRue, CFP® provide insights on how to leverage Roth conversions effectively, ensuring your financial decisions align with your long-term goals. Whether you’re in your working years or nearing retirement, this episode helps you avoid common pitfalls, reduce tax burdens, and set up a strategy that benefits both you and your heirs.

Key Highlights:

  • Roth Conversion Basics: Understand the differences between conversions and contributions, and the key tax implications to look out for
  • Tax Bracket Optimization: Learn how to time your conversions during low-income years and avoid higher taxes during your peak earning periods
  • Asset Allocation Strategies: Discover why Roth IRAs are ideal for high-growth investments, maximizing your tax-free gains
  • Estate Planning Benefits: Learn how Roth conversions can lower the tax burden for your heirs, especially if they are in higher tax brackets
  • Mistakes to Avoid: Plan for estimated tax payments, and stay up to date on recent rule changes for inherited IRAs
  • Charitable Giving Considerations: Find out why Roth conversions may not be ideal if your IRA is intended for charitable donations
  • And much more!

Resources:

Connect with Matt Nelson:    

Connect with Jacob LaRue: 

Connect with Perspective 6 Group:       

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Building Roots: A Passion for Legacy With Matthew Finley, CFP® (Ep. 13)

Building Roots: A Passion for Legacy With Matthew Finley, CFP® (Ep. 13)

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Can a background in medicine and microbiology revolutionize financial advising?

Discover the remarkable transformation of Matthew Finley, CFP®, Partner & Senior Financial Advisor at Perspective 6 Group. From an aspiring doctor to a successful financial advisor, this is a fascinating episode of The MedTech Wealth Advisor Podcast. Join our host, Matt Nelson as he dives into Matthew’s unique journey, highlighting how personal values and pivotal life decisions can profoundly shape one’s career in financial management.

Key Highlights:

  • Pivotal Career Shift: Dive into Matthew’s decision to move from aspiring doctor to financial advisor, a choice influenced by his quest for work-life harmony
  • Early Inspirations: Discover how Matthew’s grandfather, an astute investor, ignited his passion for finance
  • Diverse Career Journey: Trace Matthews’s path from microbiology research to thriving in the dynamic world of business finance and eventually finding his calling in financial advising
  • Resilience During Financial Crisis: Learn about Matthew’s strategic approach to financial advising during challenging times, including the 2008 recession and recent economic fluctuations
  • Empathetic Client Relationships: Understand how Matthew’s background enables him to relate to clients seeking honest and compassionate financial advice
  • The Man Behind the Advisor: Peek into Matthew’s personal life, from his achievements in distance running to cherishing moments with his family and the great outdoors
  • Wisdom for Aspiring Advisors: Listen to Matthew’s insights on pursuing a financial career passionately while maintaining a balance with personal life
  • And much more!

 

Looking Ahead: 

Gear up for an inspiring conversation on the Perspective 6 Group investment philosophy in the next episode, where Matthew and Matt will share how diverse life experiences enrich financial decision-making and strategy formation.

 

Resources:

  • Do you have a topic you’d like to learn more about on this podcast? Send us an email at mwapodcast@focusfinancial.com to let us know. We look forward to hearing from you!

Connect with Matt Nelson:  

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Connect with Perspective 6 Group:      

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The MedTech Wealth Advisor Podcast: Coming Soon

The MedTech Wealth Advisor Podcast: Coming Soon

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Guiding MedTech professionals to Financial Freedom. Whether you have questions about your new job offer, what to do with your company stock plan, how to start the company you’ve been dreaming about, or simply retire on your terms, Matt will cover all this and more. The MedTech Wealth Advisor podcast is dedicated to teaching professionals and entrepreneurs in the MedTech field how to save more money, pay less in taxes, and maximize their unique benefits. Matthew Nelson is a Certified Financial Planner™ professional, Accredited Investment Fiduciary™, and Equity Compensation Associate with Perspective 6 Group, a financial planning firm dedicated to the professionals in MedTech. To learn more visit www.perspective6group.com.

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