Nicole Romito – Dollars and Sense

Living Your Fulfilled Life With Julie Liss (Ep. 41)

By Dollar$ and $ense | April 10, 2024

When thinking about your financial plan, are you focusing on the serious aspects and how adult the conversation is? Or are you adding in some humor to create a more fulfilling retirement

plan?

In this episode, Nicole Romito speaks with Julie Liss, Chief Strategy Officer and Managing Director at Hal Riney, on the importance of incorporating humor into financial strategies and focusing on present joy and fulfillment rather than solely retirement and financial numbers. They explore the importance of creativity, managing a busy schedule, remote work, community, and the freedom that wealth can bring.

Nicole and Julie discuss:

The importance of humor and not taking financial life too seriously
Why advisors and their clients should have discussions about the client’s life beyond careers and finances
Redefining what retirement means beyond leaving the job
How to balance a busy schedule with personal time for creativity
And more

Connect with Nicole Romito:

Connect with Julie Liss:

LinkedIn: Julie Liss

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

Preparing For The Sale of Your Business: Part 1 with George Karavattuveetil (Ep. 38)

By Dollar$ and $ense | February 28, 2024

So you’re ready to sell your business or have been thinking about selling for a while, now what?

In this two-part episode, Nicole speaks with George Karavattuveetil, President of Psyched, LLC, about how to prepare yourself to sell your business. George shares his 3-step process to help business owners get ready to sell. Nicole and George draw attention to the lack of understanding and preparation among business owners for the emotional impact of selling their business, and the shift in private equity firms’ interest in long-term views when purchasing businesses. They go on to emphasize the importance of managing emotions during the sale of a business, and the value of teamwork and professional advice during the transition.

Nicole and George discuss:

Emotional and psychological aspects of preparing to sell a business
Prioritizing goals and values when seeking a buyer
Private equity firms’ interest in long-term views when purchasing businesses
And more

Resources:

Connect with Nicole Romito:

Connect with George Karavattuveetil:

About George Karavattuveetil:

George Karavattuveetil is the President of Psyched, LLC. His unique experience has provided him with opportunities to gain critical perspectives of employees and management, entry-level and executive, within union and non-union environments, and across nearly every industry and functional classification. His success has always been with people. George’s goal is to maximize individual and team performance. Not in comparison to others, but relative to what one is capable of.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

Municipal Bonds Unveiled with Matt Bernardi (Ep. 37)

By Dollar$ and $ense | February 14, 2024

There is a big part of the investing world that doesn’t get as much news as equity markets.

But it should.

In this installment of Dollar$ and $ense, Nicole is joined by Matt Bernardi from Bernardi Securities. Together, they demystify the municipal bond market, a key component in funding local infrastructure projects that are vital to our communities. Matt and Nicole expand on how today’s market has weathered the storm of the COVID-19 crisis and the role of stimulus funds in ensuring municipal stability. The discussion extends to the broader economic context, including consumer spending patterns and the Federal Reserve’s monetary policy, to illustrate their impact on the bond market.

With this episode, you will gain insight into:

The significance of the municipal bond market
Resilience and adaptability of municipal credit during and after COVID-19
How the Federal Reserve’s actions impact the municipal bond market
Pension liabilities and the potential effects of quantitative tightening on bond portfolios
And more

Resources:

Connect with Nicole Romito:

Connect with Matt Bernardi:

About Our Guest:

Matt Bernardi joined Bernardi Securities in August of 2013 after trading for 3 years at Chesapeake Partners, a hedge fund located in Baltimore, Maryland. Matt currently assists individuals, pension funds, banks, and other institutions regarding their municipal bond portfolios. He graduated from Johns Hopkins University in 2010 with a B.A. in history and economics minor. Matt currently holds the Series 7, 24, 27, 52, 53, 63, and 65 licenses, serves on the Union League Boys & Girls Club investment committee, and is past President of the Associate Board.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

Key Changes in the Secure Act 2.0 With Laurie Kaplan (Ep. 35)

By Dollar$ and $ense | January 10, 2024

The Secure Act 2.0 is ever-evolving and has brought up some important questions recently, so let’s go over them!

Laurie Kaplan, CPA, partner at Michael Silver, joins Nicole for her second time on the show to continue their discussion about the Secure Act 2.0. Laurie goes over what has been finalized in the act for 2023 and looks ahead to 2024 and 2025. She clears up confusion around various topics including the Required Minimum Distributions when inheriting an IRA, changes in retirement plans, the rules and implications of annuities and IRAs, and the importance of tax planning. Laurie also discusses the new Roth IRA rollover option, the penalty reduction for missed RMDs, and the benefits of having both Roth and traditional IRAs.

Laurie discusses:

The Secure Act 2.0 provisions and potential impact on retirement plans
What has been finalized in the act for 2023 and what we can anticipate for 2024 and 2025
Changes to required minimum distributions, Roth IRA rollover option for 529 plans, and penalty reduction for missed RMDs
Explanation of annuities and IRAs, including single life expectancy and joint annuity options
Designation of beneficiaries for retirement plans and consequences of not having one or if the designated beneficiary is deceased or not updated
Premiums and surcharges associated with Medicare based on adjusted gross income (AGI)
And more

Resources:

Highlighting The Key Changes In Secure Act 2.0 With Laurie Kaplan (Ep. 16)

Connect with Nicole Romito:

Connect with Laurie Kaplan:

About Our Guest:

Laurie Kaplan, CPA, has been serving as a trusted advisor to clients for over 25 years, expertly managing and addressing tax and accounting issues within various industries, including manufacturing and distribution, retail, restaurants, real estate, automobile dealerships, and professional service providers. Her background in both accounting and tax, as well as her consultative approach, allows her to partner with clients and develop innovative solutions to address their personal and business needs. She specializes in employee benefit plans, estate and gift tax, like-kind exchanges, and small business start-ups.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

Estate Planning for the Sandwich Generation With Jeff Toner (Ep. 34)

By Dollars-and-Sense | December 27, 2023

Estate planning is important for everyone, but why is it especially important for the sandwich generation?

In this episode, Nicole introduces fellow Private Vista colleague, Jeff Toner, CHFC®, RICP®, Partner at Private Vista, to talk about estate planning. While it’s important to get your documents in order before you need them, Nicole and Jeff point out that there are many layers to estate planning and discuss the impact it can have on multiple parts of our lives. They delve into the complexities of managing aging parents’ affairs, the importance of open communication within families, and the need for estate planning documents. Jeff emphasizes the benefits of proactive estate planning, including providing clarity for families, reducing tax burdens, and ensuring wealth preservation for future generations.

Nicole and Jeff go over:

The importance of estate planning, especially for the sandwich generation
The challenges that come with managing aging parents’ affairs and the reversal of roles
Why estate planning isn’t just a checklist, it’s a lifelong process
What key documents are needed for estate planning, in addition to a will
The challenges faced by the sandwich generation in estate planning for aging parents and themselves
An explanation of power of attorney, wills, trusts, and their importance in estate planning
The various benefits of proactive estate planning, including control over decisions, educating and providing clarity for families, and tax reduction
And more

Connect with Nicole Romito:

Connect with Jeff Toner:

About our Guest:

Jeff Toner, Partner at Private Vista, now almost 40 years into his career, has the luxury of looking backward and reflecting on the journey he has been on. Back in 1984, he didn’t know what a fiduciary was or what a financial planner did. What he did know was he wanted to help people with their finances and achieve their goals in life. He wanted to do it in a way that he wasn’t selling them a product but rather walking side by side with them as they moved toward their dreams. Jeff has been with them in moments of great joy and cried with them during their times of sadness. He has taught and educated them, but more importantly, he has been taught and learned from them as well.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

Everything You Need To Know About Private Vista With Nicole Romito (Ep. 1)

By Dollars-and-Sense | September 14, 2022

Welcome to Dollar$ and $ense: Creating Your Fulfilled Life with Nicole Romito, a Partner at Private Vista. We combine our years of personal and professional experiences with those of our guest experts to help you create the life you imagine.

In this episode, Nicole introduces Private Vista, what they specialize in, and what their clients can expect from their team. She then shares her business and investment philosophy and talks about her passion for helping people learn about managing their finances.

Nicole discusses:

Private Vista’s specialty and who their ideal client is
The Private Vista team, what drives them and how they empower their clients
How Nicole applies her passion for empowering people on Private Vista’s business and investment philosophy
And more

Resources:

Connect with Nicole Romito:

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More