Category: Local Business
The Unwritten Rules Of The Financial Road (Ep. 10)

The Unwritten Rules Of The Financial Road (Ep. 10)

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While many believe that financial success is solely determined by following conventional rules, Jason Coddington is here to challenge these beliefs.

Jason takes you on a journey through the unwritten rules of financial freedom. Using relatable metaphors and real-life examples, he effortlessly connects societal norms to essential financial principles, making complex concepts easy to understand and apply.

Key Highlights:

  • Rule of 72: Understand how to estimate investment doubling times with this simple, yet powerful, formula
  • Unwritten Financial Rules: Explore key rules such as spending less than you earn, paying yourself first, and managing spending with Parkinson’s Corollary
  • Saving Discipline: Learn the importance of saving 10% of your income and building an emergency fund
  • The “Piggy Bank Factor” and Withdrawal Strategies: Discover disciplined saving and retirement withdrawal strategies, including the ‘10% rule’ for savings and ‘4% rule’ for retirement withdrawals
  • Engaging Analogies: Absorb these financial strategies through relatable analogies
  • And much more!

Tune in to transform these insights into your personal finance strategy.

Connect with Jason Coddington:

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How To Provide Charitable Gifts Through QCDs (Ep. 9)

How To Provide Charitable Gifts Through QCDs (Ep. 9)

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Want to make a meaningful charitable impact in your retirement years?

Join Jason Coddington of Coddington Wealth Advisors in the latest Money Metaphors episode as he demystifies Qualified Charitable Distributions (QCDs). This tool is a big breakthrough for savvy families and business owners aiming to blend philanthropy with tax efficiency. Learn how QCDs can be seamlessly incorporated into your retirement and estate plans, maximizing your charitable impact.

Key Highlights:

  • QCD Fundamentals: Dive into what QCDs are and how they’re tied to the Required Minimum Distribution rules for those over 73
  • Tax Reduction Tactics: Discover how QCDs can significantly reduce your taxable income, particularly beneficial for the philanthropically minded
  • Direct Transfer Essentials: Learn the critical process of moving funds directly from your IRA to charities to capitalize on tax benefits
  • Generous Provisions: Uncover the ability to donate up to $100,000 in one-time charity distributions for substantial tax savings
  • Recent Tax Law Effects: Gain insight into how the Tax Cuts and Jobs Act of 2017 makes QCDs even more advantageous due to the rise in standard deduction
  • Eligibility & Steps: Understand who qualifies for QCDs and the simple steps involved in executing them with the help of a financial advisor.

Explore these topics and uncover more valuable financial insights in this compelling episode.

 

Connect with Jason Coddington:

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Navigating the Maze of Individual Retirement Accounts (Ep. 8)

Navigating the Maze of Individual Retirement Accounts (Ep. 8)

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Confused about choosing between Traditional and Roth IRAs? 

Dive into clarity with our latest Money Metaphors episode, where Jason Coddington of Coddington Wealth Advisors navigates the world of Individual Retirement Accounts (IRAs). This episode delivers targeted insights for families and small business owners, breaking down the complexities of Traditional and Roth IRAs. Discover essential strategies, tax benefits, and planning tips to make informed decisions about your retirement savings.

Key Highlights:

  • Introduction to IRAs: Journey through the history of IRAs, highlighting their pivotal role in retirement planning since the 1970s
  • Traditional IRA Insights: Diving into Traditional IRAs, tax savings, tax-deferred growth, and the implications of withdrawals, along with critical age-related rules
  • Roth IRA Explained: Transitioning to Roth IRAs, discover the benefits of post-tax contributions and tax-free withdrawals, as well as their role in younger investors’ portfolios and estate planning
  • Tax Minimization Strategies: Explore how to reduce taxes in retirement, focusing on those over 73, through methods like Qualified Charitable Distributions
  • Innovative Financial Moves: Uncover how converting funds from a 529 plan to a Roth IRA can revolutionize your financial planning
  • And much more!

 

Resources:

  • Downloadable Flow Charts: To assist with understanding IRAs and their implications.
  • IRS Publication 580: Detailed guidelines on IRA contributions and distributions.

Connect with Jason Coddington:

 

Ira and Roth disclosures:

Contributions to a traditional IRA may be tax deductible in the contribution year, with current income tax due at withdrawal. Withdrawals prior to age 59 ½ may result in a 10% IRS penalty tax in addition to current income tax.

The Roth IRA offers tax deferral on any earnings in the account. Withdrawals from the account may be tax free, as long as they are considered qualified. Limitations and restrictions may apply. Withdrawals prior to age 59 ½ or prior to the account being opened for 5 years, whichever is later, may result in a 10% IRS penalty tax. Future tax laws can change at any time and may impact the benefits of Roth IRAs. Their tax treatment may change.

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Retirement Plans for Small Businesses: Choosing the Right Fit (Ep. 7)

Retirement Plans for Small Businesses: Choosing the Right Fit (Ep. 7)

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Think choosing a retirement plan is difficult? 

We’re breaking it down, ingredient by ingredient!

Dive into retirement planning with Jason Coddington of Coddington Wealth Advisors, where complex concepts become as simple as kitchen recipes! Jason serves up financial wisdom like a master chef, turning the selection of retirement plans into an easy-to-follow recipe for success.

Key takeaways include:

  • Simplify the complex world of retirement plans: Spotlighting the best fits for businesses of all sizes
  • SEP IRA vs. SIMPLE IRA Showdown: Get the lowdown on the pros and cons of each
  • Simple IRA Clarified: For businesses with under 100 employees, discover the Simple IRA’s blend of generous contributions and employer-match flexibility
  • 401k Unpacked: Explore the perks and obligations of 401k plans, from beneficial loans to essential IRS filings
  • Inside Safe Harbor 401k & SIMPLE IRA: Dive into the immediate benefits for employees with these plans’ direct and vested contributions
  • And much more!

 

Resources:

Connect with Jason Coddington:

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The Map is Not the Territory (Ep. 6)

The Map is Not the Territory (Ep. 6)

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Are you ready to turn the complex world of investing into an adventure? 

Join us on a financial quest as Jason Coddington transforms investing into an exciting hike through uncharted territory, guiding listeners through the stock market’s intricacies and financial planning’s nuances, using vivid analogies and relatable stories. It’s more than just numbers; it’s a journey of discovery.

Key Highlights:

  • Navigating the Stock Market: Explore how investing mirrors a hike in uncharted territory, where the stock market is a map guiding but not defining your path
  • Long-term Investment Goals: Learn how aligning investments with long-term objectives can be your shield against inflation and market shifts
  • Understanding Market Volatility: Dive into the dynamic world of stocks, understanding their ‘uphill yo-yo’ journey and the wisdom behind portfolio rebalancing
  • Dealing with Market Declines: Discover how to stay resilient in the face of market drops by recognizing the long game in stock investing and the power of diversification
  • And much more!

 

Connect with Jason Coddington:

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Outlook 2024 (Ep. 5)

Outlook 2024 (Ep. 5)

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Are you prepared to navigate the twists and turns of 2024’s financial landscape? 

Join financial professional Jason Coddington in this week’s ‘Money Metaphors’ episode, where you’ll discover an in-depth analysis of the upcoming year’s economic and stock market outlook. Using relatable stories and analogies, Jason untangles complex financial concepts, offering valuable insights and strategies that cover the changes and challenges that a new year of geopolitical uncertainty will bring.

Key Topics:

  • Economic Outlook for 2024: Exploring the potential of a mild recession and its wider financial impact
  • Investment Strategies: Focusing on goal-based asset management, retirement, and estate planning
  • Stock Market Trends: Diving into large-cap stocks like Apple and Microsoft and their expected performance amid geopolitical events
  • Bond Market Insights: Understanding the influence of the Federal Reserve’s interest rate policy on bonds
  • Practical Financial Planning: Comparing financial planning to a pilot’s flight plan
  • Portfolio Management: Strategies for rebalancing and diversifying investment portfolios
  • Election Year Considerations: Analyzing how political outcomes might affect the market and tax policies
  • And much more!

 

Connect with Jason Coddington:

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Think You Know Bonds? (Ep. 4)

Think You Know Bonds? (Ep. 4)

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What can we learn from cows and teeter totter and cows about bonds?

Join Jason Coddington of Coddington Wealth Advisors as he unravels the intricacies of bonds in this engaging episode of ‘Money Metaphors,’ where complex financial concepts are made simple through storytelling. This insightful session dives deep into bonds, a critical yet often overlooked element in achieving financial stability and reaching medium-term goals.

Key highlights:

  • Essentials of Bond Investment: Dive into bond basics, including yield, maturity, issuer types, and quality ratings
  • Bonds and Portfolio Risk: Understand how bonds contribute to reducing portfolio risk, making them ideal for medium-term objectives
  • Economic Impacts on Bond Values: Explore the effects of recent economic shifts, particularly Federal Reserve rate hikes, on bond market dynamics
  • Corporate vs. Startup Bonds: Compare bonds from established entities like Ford to those from high-risk startups
  • Bond Mutual Funds and ETFs: Learn about the principle protection and flexibility of bond mutual funds and ETFs
  • Interest Rates and Bond Prices: Unpack the inverse relationship between interest rates and bond prices, using 2022’s market trends as an example
  • Comparing Investment Vehicles: Evaluate the advantages of ETFs, mutual funds, and individual bonds based on client needs and risk tolerance
  • And much more!

 

Resources:

Connect with Jason Coddington:

YouTube: Coddington Wealth Advisors

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How To Reduce The Cost Of College with Roger Lorelle (Ep. 3)

How To Reduce The Cost Of College with Roger Lorelle (Ep. 3)

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Is college now more expensive than buying a home?

In the latest episode of “Money Metaphors: Exploring Financial Concepts Through Stories and Analogies”, Jason Coddington teams up with Roger Lorelle. As the President and CEO of Collegiate Funding Solutions, Roger brings unique insights that might just unlock the mysteries of rising college costs. With college expenses now rivaling the cost of buying homes and setting up retirement plans, it’s time for a deep dive. 

Tune in as Jason and Roger unravel:

  • The intriguing shift in the power dynamics between colleges and families
  • Classic savings methods for college vs. innovative tactics to maximize your dollar
  • Think SAT/ACT scores lost their luster? Think again!
  • 2023 brings fresh changes affecting farmers, budding entrepreneurs, and families with college-bound siblings. Are you prepared?
  • Discover ingenious strategies to soften the financial hit of higher education
  • And much more!

 

Resources:

Connect with Jason Coddington:

Connect with Roger Lorelle:

 

About Roger Lorelle: 

Roger Lorelle is the President and CEO of Collegiate Funding Solutions. He is an Experienced President with a demonstrated history of working in the financial services and computer software (Fintech) industry. Skilled in Business Planning, Saas, Enterprise Software, Sales, Marketing, Business Development, Entrepreneurship, and Customer Relationship Management (CRM). Strong business development professional with a Master’s Degree (MS) in Industrial Management with a Computer Science focus from Clemson University.

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