Red Barn Financial Podcast
This is the Red Barn Financial Podcast. Red Barn Financial is a financial advisory company serving family and small businesses. Red Barn Financial helps people: 1. Organize their finances and put together a plan for success 2. With their investments through financial plans and investment analysis and investment management. 3. With risk mitigation strategies including life insurance, disability insurance and more. 4. Through tax planning strategies 5. Setting up IRAs, brokerage accounts and other investments. Learn more about Sean Moran and Red Barn Financial at www.redbarnfinancial.com Disclaimer: Information provided in this podcast is for information purposes only and does not constitute financial advice. Financial decisions should only be made after careful consideration and based on all information available. Information provided in this podcast may not apply to you and therefore cannot be relied upon in making financial decisions. Consult your financial advisor or reach out to us if you would like to engage our services. Securities offered through Ad Deum Funds a Registered Investment Advisor headquartered in Chantilly Virginia.
Episodes
In this episode of the Red Barn Financial podcast we talk about the most googled financial questions of 2024.
It’s always interesting to see what’s on people’s minds, especially when it comes to finances. Did you know some of the most Googled financial questions in 2024 included: “How do I start investing?”, “.css-1t8gq41{border:none;background-image:none;background-color:transparent;box-shadow:none;color:#2F3133;cursor:pointer;font-size:inherit;padding:0;-webkit-text-decoration:inherit;text-decoration:inherit;width:-webkit-max-content;width:-moz-max-content;width:max-content;}.css-1t8gq41:hover,.css-1t8gq41:focus{-webkit-text-decoration:inherit;text-decoration:inherit;}
In this episode of the Red Barn Financial Podcast, I kick off the 21 day devotional "Look At The Sparrows" by Faithfi.
In this episode we explore Matthew 6:19-21 which says: 19 “Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal. Read more
In this episode of the Red Barn Financial Podcast, Sean Moran talks about ways to reduce or eliminate debt. It's often a strategy and a process and we talk through the ways in which to make this happen for you. Are you committed to paying down your debt this year?
Disclaimer: This is not tax, legal or investment advice. Each person's circumstance is different and your situation may be different. Feel free to reach out for a co...
In this episode of the Red Barn Financial Podcast, Sean Moran talks about the unintended consequences of leaving money to loved ones.
When you leave money to someone, you may be leaving them a tax liability that could have been smaller with a bit of planning.
Here are a few things to consider:
- Plan while both spouses are alive
- Consider the tax bracket of the people you are gifting to
- Think about actionable planning to reduc...
In this episode of the Red Barn Financial Podcast, I talk about ways to make your charitable giving go further with some tax efficient ideas. I share the keys to giving and finding where your philanthropy can have the most impact.
The use of a Donor Advised Fund (DAF) or making a Qualified Charitable Distribution (QCD) from an IRA are two potential ways to improve your giving by paying less in taxes, thereby leaving more for the c...
Equity ownership dilution occurs when a company issues additional shares, reducing the ownership percentage of existing shareholders. This is common during second round fundraising (Series B), where new investors come on board, and more shares are created to accommodate their investment. It isn't necessarily a bad thing, however, because 10% of a company with no money is likely worth less than 5% of a company with money.
Key point...
When one spouse passes there is a little known and unintended consequence from a tax perspective. It’s often called the Widow Penalty. This is the result of the fact that generally a retired married couple lives on close to the same amount of money (because of the shared household expenses) when they are both alive as compared to...
In this episode of the Red Barn Financial Podcast, Sean Moran shares the different strategies for investing at different stages of your life. One example is when you are younger, you might want to put your retirement funds in Roth accounts as your tax liability is low, so a tax deduction might not be as valuable. As you reach the...
“Taxing Unrealized Capital Gains: What You Need to Know”
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Current Taxation System:
- Under the current system, taxpayers pay taxes on the growth in the value of their assets when they are sold (realized gains).
- Short-term gains (assets held for less than one year) are subject to ordinary income tax rates.
- Long-term gains (assets held for over a year) are taxed at a top rate of 23.8%.
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Kamala Harris’ Proposal:
- Ha...
Are you the fortunate recipient of an inherited IRA? This podcast episode is your essential guide to understanding and maximizing your inherited IRA. We'll delve into the complexities of different inheritance scenarios, explore the rules and regulations governing inherited IRAs, and provide practical tips for making informed decisions about your financial future.
Key Topics:
...Pitfalls of Early Retirement Account Withdrawals
The video provides information about early withdrawals from retirement accounts. The speaker discusses what an early withdrawal is, the penalties associated with it, and the circumstances under which you may be able to avoid those penalties. Some of the key points from the video include:
Ep. 81 Tax Efficient Funding of a Major Purchase (House, Car, etc.)
In this episode I share how I helped a client with funding a home downpayment, but this process can work with any amount and any major purchase. The key here is to avoid penalties and keep our taxes to a minimum. Here is the spreadsheet used to walk through this.
When you have an annuity, they often come with surrender charges if you cash them in early. In thi...
When choosing a financial advisor, there are a number of questions you want to ask. In this episode of the Red Barn Financial Podcast, Sean Moran answers the Top 5 questions:
- Is the advisor licensed? Are they truly a financial advisor or are they an insurance agent or coach that gave themselves a fancy name?
- Don't just pick the first advisor you meet. Make sure you interview a few to determine if you are picking the right...
In this episode of the Red Barn Financial Podcast, Sean Moran talks about the areas in the Bible where it speaks about money. This is only scratching the surface, because there are over 2,500 verses that talk about money.
If you feel convicted to do what God is calling you to do with your money, specifically being a good steward of what has been given to you, reach out. We can help you with budgeting, intentional giving, putting ...
Ep 78 Why Drawing From Your Retirement Account Early is a Costly Mistake
Many times people take money out of their retirement account early so they can pay bills, because they changed jobs or for "easy access" to their money. In this episode of the Red Barn Financial Podcast, Sean Moran shares why this could be a costly mistake, but in the current year as well as in future years. This includes the tax cost, the penalties and t...
Taxes Done? You're NOT Finished Yet! Here's Why
When you finish your tax return you want to understand what happened, what you can do for the next year to save taxes or to strategically prepare yourself for future years. In this episode of the Red Barn Financial Podcast, Sean will talk about what to look for on your tax return and things that you could look into further so that you might potentially pay less taxes in future years.
...
In this episode I share some times when spending more money will save you money.
As a financial advisor, I often advocate for people to save money for their future, but there are many times when spending more money can save you money in the long run.
One example is for a quality "once in a lifetime" experience. There is a balance between spending the most and the least you can possibly spend, but there are times to splurge a bit.
...
Ep. 75 Taking Money out of your Retirement Account Can Destroy Your Financial Life
In a podcast by Sean Moran, a financial advisor with Red Barn Financial, discourages people from withdrawing money from their retirement accounts before reaching the age of 59 and a half due to tax penalties and the added tax cost.
The podcast discusses two real-life scenarios where people m...
In this Episode of the Red Barn Financial Podcast I get the opportunity to interview Jackson Matheson of the Wood Group of Fairway Mortgage. He shares his experiences and the reason why he is passionate about the Home Equity Conversion Mortgage (HECM). Jackson shares why this tool gives you an opportunity to make sure you are financially secure in retirement and opens up one of the largest assets most of us have to use to fund t...
A recent study by Boston College recommends ending 401(k) and IRA tax benefits in order to use the extra tax revenue to fund Social Security.
I share in this podcast episode why I think that could be a bad idea that would lead to more issues for retirees in the future, which would mean simply transferring the problem to the future.
The Center for Retirement Retirement Research at Boston College said that about $185 billion of more ...
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