Podcast
The Retirement Fix: Less Stress, More Success
Hosted by John Gigliello, CFP® · EN
The Retirement Fix is a monthly podcast for people seeking answers and security in retirement by CERTIFIED FINANCIAL PLANNER™ John Gigliello of the Albany Financial Group, based in Albany, NY. Throughout his 30+ years of experience in taxation, finance and academia, John takes an educational approach to address the most pressing pain-points experienced by his clients and others such as proactive tax management, retirement living & income planning, social security timing, investment management, asset protection and more.
Securities are offered through LPL Financial, member SIPC (www.SIPC.org). Investment advice is offered through Private Advisor Group, a registered investment advisor. Private Advisor Group ad Albany Financial Group are separate entities from LPL Financial. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful. This is a hypothetical example and is not representative of any specific situation. Your results will vary. The hypothetical rates of return used do not reflect the deduction of fees and charges inherent to investing.
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Episodes
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The 2025 Tax Changes that Could Save You Money
Feb 18, 202500:13:15Tap to summarizeBefore you file your tax return, listen up! A few important changes this year could put money back in your pocket. Be sure you’re not missing out and tune in as we break down the key updates to the 2025 tax code. Spoiler alert: Not all of the changes will save you money.Hi, I’m John Gigliello, a CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group, and you are listening to Invest in Knowledge, a podcast for people who are planning for retirement or already retired and want to know more about proactive tax planning, retirement income planning, social security timing, investment management and asset protection. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with people who are looking to make smart and responsible choices with their money. Tax season is officially underway, so let’s take a look at the changes for this filing season. Some may save you money, but some may not. Even though Congress did not make major changes for this year, there are some new details to be aware of, especially for those who sell things online, bought an electric vehicle, or who prefer to get their refund as a savings bond.Before we get started, please remember that the rules for income taxes are complex and they change a bit every year, including annual inflation adjustments for tax brackets and the standard deduction. Bigger changes may be in store for next year and beyond, depending on how President Trump and Congress address the fate of the 2017 Tax Cuts and Jobs Act, which sunsets on Dec. 31 this year.Filing taxes might also be a little less cumbersome this year since the IRS upgraded its online services by adding features and making it easier to check the status of refunds. It takes taxpayers an average of 13 hours and $290 to prepare and file their tax returns, according to the IRS. But the time and money seemed to pay off. Last year, tax refunds averaged $3,138, according to the IRS. Taxpayers who file electronically and choose direct deposit should get the payments within 21 days.Here are some key changes for this year to note:The Standard deduction has increased, along with other annual inflation adjustments.If you sold anything online, you might receive a 1099K.If you bought an Electric Vehicle in 2024, you may qualify for a tax credit. But you may also owe.Filers in disaster relief areas may be eligible for extended deadlines. More taxpayers are getting hit with penalties for underpayment. This year, there are more ways to file your taxes free.I bonds are no longer an option for your refund.
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4 Keys to Maintaining Wealth: Tax Planning for High Net Worth Families
Dec 5, 202400:15:41Tap to summarizeTax planning is an essential tool in managing finances, especially for the wealthy. If you are a high-net-worth retiree, looking to maintain the substantial wealth you have accumulated over your lifetime, this podcast episode is for you.Hi, I’m John Gigliello, a CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group, and you are listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.Today I am going to talk about tax planning for high-net-worth retirees.What is considered high net worth? Generally, it includes anyone with liquid assets of at least $1 million dollars, excluding primary residence, but many families below that threshold may also benefit from the tax planning advice I am going to share today. In this episode, I will provide insight into four areas of tax planning for HNW retirees: Roth IRA conversions, tax-efficient investing, estate planning and trusts, and charitable giving. High-net-worth retirees, in particular, need to pay special attention to their tax planning strategies. Planning for taxes can help them control retirement income, while leaving a legacy for their heirs, with less concern for tax consequences.The substantial assets of HNW retirees often mean they bear a heavier tax burden than average retirees. The key to managing their tax liability lies in creating a plan for taxes, utilizing various tax-efficient strategies, and remaining agile in response to changes in tax laws.
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Paying the Price: Are Parent Plus Loans a Smart Choice?
Nov 15, 202400:08:41Tap to summarizeFor the 2023-2024 academic year, the average cost of college, per year, came to $11,260 for public colleges, if the student lives in-state, and $41,543 for a private university, according to college data.com. When you factor in room and board, those figures almost double at some institutions.These staggering figures leave many families to fret and wonder if they can possibly pay for higher education.Hi, I’m John Gigliello and you are listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.Today, we are going to talk college planning, specifically about Parent PLUS Loans – which are just one option when it comes to paying the price tag of a college education. We’ll explore the pros and cons with our guest speaker and resident expert on all things college planning – Mike Whitney.Mike is a CERTIFIED FINANCIAL PLANNER™ who works as a financial paraplanner at Albany Financial Group. He helps families with college planning issues, as part of their overall financial plan, and has published white papers on the subject.
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The Fuss about Fiduciaries: Five Foundations, and a Few Red Flags
Oct 15, 202400:15:20Tap to summarizeThe word Fiduciary has become a buzzword in the financial industry over the last few years, but what does it really mean?An investment fiduciary is a person, or entity, that has a legal and ethical responsibility to act in the best interest of their clients when managing their investments. This obligation requires the investment professional to prioritize the client’s interests above their own when making decisions related to investment strategies, financial planning, or other related services.It may seem like common sense, but, believe it or not, some financial professionals are not fiduciaries and today, I will explain the difference. Hi, I’m John Gigliello and you are listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life. Today, I am going to explain what it means to be an investment fiduciary, why you might want to consider working with one and how to determine who is, and who is not, a fiduciary.Let me start by saying that in my practice as a CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group, I am an investment fiduciary. Clients are always welcome to ask me about that and what it means for them specifically. It’s a question I get all the time: Don’t all advisors act in the best interest of their clients?Well, most probably do, but not all are required to. That’s what separates investment fiduciaries from other advisors.
Transcribe →Are you losing millions? Don't make this rollover mistake!
Sep 16, 202400:11:07Tap to summarizeInvestors are missing out on billions of dollars when they switch jobs. The reason is that many end up pulling their retirement savings out of the stock market—often without meaning to.This was the subject of a recent Wall Street Journal article which I think is important to talk about today.Many workers, when changing jobs, roll their 401k balances out of the employer plan and into an Individual Retirement Account. Many also, unwittingly, leave the balance in cash, which is a very costly mistake.Hi, I’m John Gigliello and you are listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.Today, I want to talk about the options workers have for their retirement savings when changing jobs and how to avoid costly mistakes.
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High-Yield Savings: How to take advantage of interest rates
Aug 19, 202400:09:57Tap to summarizeFor more than a decade, savings accounts offered little to no interest, making it near impossible to keep up with inflation. But in recent years, the tides have turned, if you know where to look.If you have extra cash on hand and want to start an emergency fund or a nest egg—a high-yield savings account can be a great option, providing an easy way to build your savings, with virtually no risk.Hi, my name is John Gigliello and you are listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life. Today, I am going to talk about high-yield savings accounts and how you can take advantage of the relatively high interest rates of the past two years.The content for this podcast episode was derived, in part, from a recent Wall Street Journal article on this subject.High-yield savings accounts have been providing some of the best returns on cash in years, and with inflation still above the Federal Reserve’s 2% target, savers should have at least a few more months to enjoy generous interest rates, the Journal reported. But the bounty won’t last forever. When the Fed starts cutting its benchmark federal-funds, rates on savings accounts should decline as well. Wall Street observers now expect rate cuts to begin in September or later. Until recently, the prevailing idea was that cuts would begin early this summer.Even though good rates are available now, many savers continue to earn meager returns. The average savings account pays just 0.45%, according to the Federal Deposit Insurance Corp.—but with a little legwork you can do far better. Some savings accounts offer an Annual Percentage Yield (APY) as high as 5%, a rate that’s especially appealing considering inflation is hovering around 3%.Taking advantage of higher rates could mean as much as $500 a year for every $10,000 you have saved, Michael Finke, professor of wealth management at the American College of Financial Services told the Wall Street Journal, adding. “If you’re not paying attention, you’re leaving a lot of money on the table.”Choosing the best savings account for your needs involves looking at more than just the advertised rate, though. You need to consider how you plan to use the account, how you prefer to bank and how much you plan to keep in savings.
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Taking the Crypto out of Cryptocurrency: What you need to know about bitcoin
Jul 18, 202400:15:05Tap to summarizeIf someone told you about an investment that has made some people millionaires overnight and has both a number of high-profile supporters and a global reach, would you be tempted to invest? If you were then told that the same investment also could lose most or all of its value almost overnight, and you might not have access to your money when you need it, how would it sound now?You've just confronted the debate surrounding the digital phenomenon known as Bitcoin — an alternative currency that exists strictly as digital code. Hi, I’m John Gigliello, CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group and you’re listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.When it comes to Bitcoin, if you're wondering what all the fuss is about, I’m going to give you a brief introduction to Bitcoin, how it works, and some of the potential pitfalls it presents.
Transcribe →Umbrella Insurance: When accidents happen, be prepared.
Jun 10, 202400:13:52Tap to summarizeAccidents happen. They just do. Your foot slips and you press the gas pedal when you meant to brake. Your child hits a line drive through a neighbor’s window during baseball practice.Your dog panics and bites a stranger.The question is: are you adequately prepared to handle these situations - specifically the economic consequences of these situations - when and if they occur?Hi, I’m John Gigliello, CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group and you’re listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with PEOPLE who are looking to make smart and responsible choices with their money. Only through education, action and accountability can YOU build the confidence and security YOU need to live a SATISFYING life.Today I am going to talk about umbrella insurance and how it differs from the other insurances for which you likely already pay.What Is Umbrella Insurance?Umbrella insurance provides “excess liability insurance,” simply meaning additional coverage, beyond the liability insurance you already have in your auto, homeowners and/or watercraft insurance policies. Umbrella insurance kicks in for expensive situations where medical bills and/or repairs exceed what auto, homeowners or boat insurance policies will pay.Umbrella insurance is a good way to buy extra coverage to protect your assets. You can think of it as asset protection because it can prevent you from losing your assets while trying to pay for a lawsuit judgment against you.
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5 Essential Estate Plan Documents you shouldn't live without
Apr 9, 202400:12:58Tap to summarizePicture this: Your wife or partner and you are driving along one day, rushing about to tackle the numerous errands you have planned for the busy morning. Back home, your two daughters are working to finalize their plans for a birthday party for their favorite uncle. Your errands take you all over town, and the Saturday morning traffic is starting to build. And then suddenly, in the blink of an eye, your car is struck in the passenger side, t-boned at a busy intersection. It all happens so fast; you have no time to think or react. You feel pain throughout your body, and you manage to look over into the passenger seat. Your wife is bleeding and not moving. The last thing you remember before you pass out is the distant sound of an ambulance siren. Your daughters arrive at the local hospital and are ushered quickly to the emergency room. They find you in a condition that no one ever wants to see. The doctors explain to your daughters the severity of your conditions and that some difficult decisions will have to be made regarding treatment. He then asks, “Who has the authority to make medical decisions on behalf of your parents?” The girls look at each other, confused, and ask the doctor, “What do you mean; what are you talking about?” The doctor tells your daughters that there is a chance that your wife and you may never resume consciousness and that someone will have to make medical decisions on your behalf. “Do your parents have a health care POA or a living will?” the doctor asks. The daughters respond that they have “no idea” and have never heard of these types of documents. In a heightened state of emotion, the girls look at each other and ask, “What do we do now?”Hi, I am John Gigliello, CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group and you are listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with people who are looking to make smart and responsible choices with their money. Only through education, action and accountability can you build the confidence and security you need to live a satisfying life.Today, I am going to talk about the 5 Essential Documents of a Complete Estate Plan.
Transcribe →5 Common Medicare Mistakes
Oct 25, 202300:54:02Tap to summarizeThe choices for Medicare coverage can be overwhelming and mistakes people make when choosing Medicare options can be costly for a lifetime. In this episode, CERTIFIED FINANCIAL PLANNER™ John Gigliello talks with local industry expert Chris Amorosi about how to avoid the 5 most common mistakes people make when choosing a Medicare plan.
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