Podcast Episode 354: Making Sense of the ‘Acronym Salad’ in Financial Planning
In the latest episode of the Money Wisdom podcast, hosts John Stillman and Jake Doser, CFP®, serve up a delicious ‘acronym salad’—a mix of financial terms that often leave even the savviest investors scratching their heads. If you’ve ever stopped to think about what an acronym meant, this episode will help clear up some of the jargon. No matter how experienced you are with money, these acronyms can still cause plenty of confusion that these acronyms can cause.
Let’s start with two you see or hear frequently: ETFs and RMDs. The ETF, or Exchange Traded Fund, is a modern way to invest in a bundle of stocks and bonds, offering an alternative to the traditional mutual fund while RMDs are Required Minimum Distributions, and they impact when and how you’ll pay taxes on your retirement savings.
Then there’s a designation some financial advisors will carry and that’s CFP, or the CERTIFIED FINANCIAL PLANNER™ designation. Jake, a CFP® himself, shares the rigorous training and ethical standards that financial planners must meet to earn this prestigious title. It’s a reminder of the expertise and dedication required to guide clients through their financial journeys, which is why there’s value behind that acronym.
We also talk about CPI, or Consumer Price Index, a term that directly relates to inflation and the cost of living. You might be seeing this one a bit more often right now, but it’s good to understand how this impacts you financially. Healthcare planning is also a part of the conversation with an in-depth look at HSAs, or Health Savings Accounts. Jake explains the tax advantages of HSAs and how they differ from FSAs, or Flexible Spending Accounts. Understanding how to best use these accounts can provide benefit you greatly.
We’ll also touch on lesser-known acronyms like JTWROS (Joint Tenancy with Rights of Survivorship) and FRA (Full Retirement Age), providing clarity on concepts that could have significant implications for estate planning and retirement. This episode of Money Wisdom is a must-listen for anyone looking to gain a better grasp of financial terms and how they apply to personal wealth management.
Here are some of the acronyms we discuss in this episode:
• ETF
• RMDs
• CFP
• CPI
• HSA
• FSA
Information presented in our podcasts is considered current as of the created date. Over time, some information presented may become stale. We recommend you consult with your Financial Professional before making any changes based on information contained here.
Johnson Brunetti is a marketing name for the businesses of JB Capital and JN Financial.
Investment Advisory Services offered through JB Capital, LLC. Insurance Products offered through JN Financial, LLC.
The guarantees provided by any type of insurance contract are based on the claims-paying ability of the insurance company.
Related Resources
-
Understanding Retirement Planning
Planning for retirement isn’t just about saving – it’s about making smart financial decisions at every stage of life. A better understanding of the financial industry can help you avoid costly mis… -
Podcast Episode 403: How to Approach Finances in a Second Marriage Later in Life
Getting engaged later in life is an exciting time, but it requires different financial planning conversations. With blended families, different retirement timelines, and evolving goals, couples in… -
Most Asked Social Security Questions
It’s no question that Social Security plays a crucial role in retirement planning, helping to provide a stable income stream for millions of recipients. In this week’s Better Money Boston with … -
Can I Get ‘Out’ of a Fixed-Rate Vehicle?
When you lock into a fixed-rate vehicle like a CD, fixed annuity, or fixed-indexed annuity, you’re committed to a specific interest rate for a set period. But what happens when after a few years, … -
Podcast Episode 402: How Often Should You Meet with Your Financial Advisor?
A good relationship between a client and their financial advisor relies on clear communication and regular check-ins to ensure everything is on track. In this episode of the Money Wisdom podcast, … -
Think Like the Rich
As you enter retirement, your financial focus shifts from growing your wealth to preserving your assets and generating income. In this stage of life, adopting the mindset of the wealthy can go a l… -
Leaving a Lasting Legacy
Estate planning can be a difficult yet necessary conversation to have with your loved ones. Everything from the distribution of your assets to your wishes regarding end-of-life care is up for disc… -
Are My Social Security Benefits Taxable?
If your total combined income exceeds certain thresholds, up to 85% of your Social Security benefits may be taxable. Understanding how Social Security is taxed can help you make informed decisions… -
Right Time for Social Security
Contrary to popular belief, waiting to claim Social Security until age 70 to get the maximum benefit is not the best decision for everyone. So, when is the right time? In this week’s Retire Wis… -
What is the Social Security Fairness Act?
You may have heard about the Social Security Fairness Act, which was signed into law on January 5, 2025. But what is it and who does it help? In this week’s Money Wisdom Question Series, Ian Fe…
