christian financial advisor

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 revenue would be collected by the IRS each year if people couldn't deduct their 401(k) or IRA contributions.  

I believe this would result in less savings for the future.  If people choose not to save for retirement because there is no immediate benefit, they are likely to spend that money instead.  

You can learn more about it in this article

Disclaimer:  The informaiton contained in this podcast is not tax, legal or investment advice.  Everyone's circumstances are different. If you would like to discuss your informaiton specifically please contact us at 615-619-6919 or email smoran@redbarnfinancial.com

In this episode of the Red Barn Financial Podcast I have a great conversation with business broker Russell Carriere of First Choice Business Brokers.   Russ is a 30 year entrepreneur who helps business owners understand what their businesses are worth and how to position a business for sale in the near or distant future.

Russ can be contacted here:  

Website:  https://nashville.fcbb.com/

email:  Russell.carriere@fcbb.com 

Phone:  (615) 288-6886

To reach out to Sean Moran at Red Barn financial please call 615-619-6919 or email smoran@redbarnfinancial.com  Learn more about Red Barn Financial on our website www.redbarnfinancial.com

Disclaimer:  The information in this podcast is not tax, legal or financial advice.  Please consult a financial advisor for information on your specific situation.  Opinions expressed by guests are their own.  The appearance on the Red Barn Financial Podcast by any guest does not constitute an endorsement.

Ep. 69 Where you put your money is as important as how much you have.  You want to be tax efficient with your money so the particular account you put different assets in will drive whether they are efficiently taxed or not.  In this episode of the Red Barn Financial Podcast I will share some factors you need to consider when you are choosing where and with what assets to invest.

For example, if you put dividend paying stocks in your brokerage account you will pay taxes on the dividends in the year you earn them.  If you put them in an IRA then you defer the taxes to a future year.   On the other hand you turn capital gains into ordinary income in the IRA.   

With respect to real estate, if you have that in an IRA account, lose the opportunity to depreciate the property, you can't use it personally and you also lose capital gains tax treatment which can be beneficial.   

Disclaimer:  The information contained in this podcast is for informational purposes only and is not financial advice.  Everyone's situation is different, so you should discuss your needs with a financial advisor like me.

Contact information:  Red Barn Financial Sean Moran - smoran@redbarnfinancial.com 615-619-6919   www.redbarnfinancial.com 

In this episode I share what Red Barn Financial is all about.  Why I created Red Barn Financial and where the name came from.   I share Proverbs 3:9-10 which is the foundational verse upon which the firm was established and it's the promise that was given to me to share with others in my financial practice.

Proverbs 3:9-10 (NIV) says:  ⁹ Honor the Lord with your wealth, with the firstfruits of all your crops; ¹⁰ then your barns will be filled to overflowing,
    and your vats will brim over with new wine.

In this verse, God makes a promise to us that if we honor Him, then He will provide us with more than we could ever give to Him.  We do this as a way to show that we love Him and we love His people.  

Learn more about Red Barn Financial on our website at www.redbarnfinancial.com