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Matthew Hofacre, CFP®, EA, MSPFP

Matthew is a Certified Financial Planner® (CFP®) professional, an Enrolled Agent (EA) and holds a Master of Science in Personal Financial Planning. He runs Pay It Forward Financial Planning, where he primarily works with parents facing the major financial decisions that come with raising a family. Matthew helps his clients feel financially prepared for each stage of parenthood, whether that's creating a family budget, balancing retirement and college savings or ensuring the right protection is in place if the unexpected happens. His expertise includes tax planning, retirement planning and college planning. His commentary has been featured in SavvyMoney and Investopedia.

Posts by Matthew Hofacre, CFP®, EA, MSPFP

Financial Advisor

Ask an Advisor: Will My Wife Forfeit a Larger Survivor Benefit if She Claims Social Security Early?

If my spouse starts taking her own reduced Social Security benefit at age 62, (9/2026), can she switch to a survivor benefit upon my death and still receive 100% of a full spousal survivor benefit? I plan on waiting until age 70 (3/2030) to collect my maximum Social Security benefit. I am worried that claiming… read more…

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Ask an Advisor: Should I Claim Social Security at 62 or Tap My 401(k) First?

Is it smarter to take Social Security at age 62 or withdraw from your 401(k)? I’m going to need some monthly income on top of my pension. – Robert Deciding when to begin collecting Social Security is one of the biggest financial decisions you’ll make in your life. Unfortunately, the Social Security claiming decision is… read more…

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Ask an Advisor: Can I Roll Discounted Employee Stock Into a Roth IRA?

Can discounted employee stock be rolled over into a Roth IRA? – Anonymous I’m going to assume that the discounted stock you own is from an employee stock purchase plan (ESPP) that you participate in. An ESPP lets you set aside money from your paycheck to buy company stock at a discount, which is typically… read more…

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Ask an Advisor: I Have $80,000 in My 401(k), but I’m Buried in Credit Card Debt. Should I Stop Saving for Retirement?

I’m in my late 30s and have accumulated significant credit card debt, including several high-interest cards that are nearly maxed out. I have no emergency savings, contribute to my 401(k) (about $80,000) and have roughly $11,000 invested in a taxable brokerage account. I’m worried that my debt is preventing me from making meaningful progress toward… read more…