Your Money, Your Wealth

Julia Wang from ValuePenguin.com tells us which holiday scams are all the rage this season - and how to be smarter than the scammers. Joe and Al answer questions about Roth conversions, Medicare premiums, RMDs, and taxes, doing a 1031 exchange for rental real estate when you don't really want the property, and what your financial bucket list should include before you retire. Transcript and show notes: http://bit.ly/YMYW-200

Todd Tresidder of FinancialMentor.com shares the surprising ways to reduce risk and increase returns as outlined in his new book, The Leverage Equation: How to Work Less, Make More, and Cut 30 Years off Your Retirement Plan. Joe and Big Al answer your money questions on San Diego real estate investing, buying a house with your 401(k) money, and required minimum distributions - and they talk beer, tariffs, the inverted yield curve, and Friends. Transcript and show notes: http://bit.ly/YMYW-199

Ellie Kay and Bethany Bayless (Heroes at Home, The Money Millhouse podcast) share some of the financial challenges America's military families face that civilians may not think about - along with some tips and benefits to help them make the most of their money. Plus, Joe and Al answer your money questions: when should you claim Social Security to avoid any changes for the worst that the government might make to the system? Is a Roth 401(k) or a traditional 401(k) better for dealing with taxes and inflation? And, Joe, Al, and Andi share their Cyber Monday shopping stories. Transcript & show notes: http://bit.ly/YMYW-198

Jefferson Lilly from Park Avenue Partners and the Mobile Home Park Investors podcast and LinkedIn group tells us why he thinks mobile home parks are the best real estate investment available. Plus, Joe Anderson, CFP® and Big Al Clopine, CPA answer your money questions on investing in natural resources, asset location when investing $50,000 cash, how to plan for retirement in the event your pension disappears, TSP allocation when retiring in 20 years, and transferring your 401(k) into your spouse’s solo 401(k). Transcript & show notes: http://bit.ly/YMYW-197

JP Morgan Chief Global Strategist Dr. David Kelly discusses the mid-term elections, market volatility, interest rates, tariffs and trade wars, Brexit, his 2019 economic predictions and what all of that means for you and me. How should you be invested now? Dr. Kelly also gives his opinions on value versus growth stocks, international stocks versus US stocks, emerging markets like China, and other asset classes like bonds and commodities. Plus, Joe and Big Al have money-saving year-end tax strategies and answers to your money questions: should you sell stock to pay back taxes, and should you take investing advice from one of the big name investment companies? The answer might surprise you. Transcript and show notes: http://bit.ly/YMYW196

Dr. Stephen Wendel, Head of Behavioral Science at Morningstar, talks about the challenges that keep us from making good investing decisions, and 9 simple actions we can take to create a better retirement for ourselves. Plus, a quick look at how companies helped get out the vote for the midterm elections and some market movers and shakers. And of course, answers to your money questions: Can you contribute the max to both a Roth and a traditional IRA, then do a conversion in the same year? If you roll a 401(k) with after-tax assets to a Roth, will the pro-rata tax rule apply? And if you're living comfortably within your means in retirement, is it wise to invest? Transcript and show notes at http://bit.ly/YMYW-195

How the most volatile month of the year affected Spotify and Apple, and how to avoid volatile markets and sequence of returns risk affecting your required minimum distributions. Plus, should a self-employed small business owner contribute to a solo Roth 401(k)? If you max your Roth IRA contributions and receive a company match, is that over-contributing, and how is that match taxed? And what should you do about that variable annuity you’re locked into? Transcript and show notes: http://bit.ly/YMYW-194

The market has been in correction territory more than once over the past week, and Joe and Big Al explain why that's a good thing. Plus, is the three bucket investing and withdrawal strategy good for large portfolios? What’s the real value of your net worth? You’ll think the fellas have lost their sanity when you hear them talking about ways to protect your sanity and your money as you age. And, on the heels of the Red Sox winning the World Series, Big Al’s got some baseball and money stats. Transcript and show notes: http://bit.ly/YMYW-193

Jean Chatzky (NBC's Today Show) talks about HerMoney.com, her new project giving women the confidence to lead the charge into the financial future. Plus, what women get wrong about money, how automation can help our health and our wealth, and why the gig economy isn’t helping. Joe and Big Al discuss the Uber IPO, taking RMDs from your IRAs, paying all cash for real estate investments, 1099 versus W2 employment, and why one woman’s “personal tax shelter” was rejected in tax court. Transcript and show notes: http://bit.ly/YMYW-192

Brian Perry and Larry Swedroe on market volatility, whether, as President Donald Trump said, the Fed is crazy, and what 3 things you should do next to be like the greatest investor of all time, Warren Buffett. Plus, answers to your questions: can you roll a 401(k) into a home purchase? What's a good allocation of stocks vs. bonds? And find out why Joe says to contribute to your 401(k) plan regardless of the investment options and fees, and why he thinks Suze Orman is crazy and out of her mind!  Transcript and show notes: http://bit.ly/YMYW-191

Trump tax cuts are slated to sunset in 2025, but the House has passed the GOP bill to make them permanent. Life insurance settlements, or “Death Bonds,” are being offered as a “solution” to senior bankruptcies. Four different Roth conversion options to avoid a tax bracket jump, with a caveat. And answers to your questions: Will the IRS take FICA taxes out of those conversions? What’s the deal with required minimum distributions, qualified charitable distributions, and Roth IRA rollovers?  Plus, Joe and Big Al go off on self-directed IRAs. Transcript and show notes at http://bit.ly/YMYW-190

How much do you know about the individual retirement account, also known as an IRA? In today's podcast, the basics: contributing to an IRA, SEP IRAs and SIMPLE IRAs for small business owners, self-directed IRAs, and IRA mistakes to avoid. Plus, Joe and Big Al answer your questions - like what's the return on an IRA? Why is owning real estate in an IRA a terrible idea? Transcript & show notes: http://bit.ly/YMYW-189

Cubert from AbandonedCubicle.com shares his plans for using real estate, including AirBnB and VRBO vacation rentals, on his path to financial independence at the age of 46. Is it worth the risk? Plus, the fellas answer your questions about real estate investing: will it help you minimize taxes in a high tax state? And how can you avoid capital gains when selling rental property? Transcript & show notes: http://bit.ly/YMYW-188

Jeffrey Levine (Forbes/Kitces.com/BluePrint Wealth Alliance) on President Donald Trump’s executive order on Multiple Employer Retirement Plans and required minimum distributions. Jeff also tells us how the IRS is throwing salt in the state and local tax deduction limit wound. Plus, will contributing to your retirement account lower your taxes and let you keep more take-home pay, and when should you file for Social Security or spousal benefits? Transcript and show notes at http://bit.ly/YMYW-187

HumbleDollar.com's Jonathan Clements (former Wall Street Journal) helps us stop spending money the wrong way and shows us how to enrich our financial lives in just 77 days with his new book, From Here to Financial Happiness. Big Al has 3 things you need to do now if you want to retire in 5 years, and Joe and Al answer your questions: why are there required minimum distributions on employer-sponsored Roth accounts, and can Elizabeth’s husband contribute to his defined benefit pension plan AND his company 401(k)? Transcript and show notes: http://bit.ly/YMYW-186

Answering your questions on how collecting a paycheck or investing during retirement might affect your Social Security benefits. Plus, "the Goddess of Social Security," InvestmentNews contributing editor and nationally recognized Social Security expert Mary Beth Franklin goes over the basics of Social Security, claiming benefits as a single person, a married couple, a public employee - and are you eligible for retroactive Social Security benefits? Transcript and show notes at http://bit.ly/YMYW-185

Plenty of risks threaten retirement, and today we focus on managing risks from longevity, inflation, sequence of returns, taxes, interest rates, and lost opportunity. Plus, Professor Jamie Hopkins from The American College and the New York Life Center for Retirement Income talks about how our risky investor behavior needs Rewirement (which happens to be the title of his most recent book), how a reverse mortgage can help, and why "set it and forget it" may also be a risk to retirement. Transcript and show notes at http://bit.ly/YMYW-184

2018 taxes will be very different than previous years. We've got 10 ways to make sure you're properly prepared, and perhaps even reduce your 2018 tax burden. We’ll talk about the "cumbersome and confusing" tax changes for small business owners. What exactly are QBI, 199A, and QCDs? Plus, we talk about the benefits of Roth IRAs quite a bit - but when might a Roth IRA be WRONG for you? And is it nuts to go with CDs in a traditional IRA? Transcript and show notes at http://bit.ly/YMYW-183

Morgan Housel (Collaborative Fund, former Wall Street Journal and Motley Fool) offers practical ways to determine your actual risk tolerance and perhaps help avoid the investing disease of fear and greed. And, listen to find out where you fall on Morgan’s spectrum of financial dependence to financial independence. Plus, should you invest in a hybrid fixed indexed annuity? Is an indexed universal life insurance policy right for you? Transcript and show notes at http://bit.ly/YMYW-182

More possible tax cuts from the Trump administration, and big changes coming to our 401(k)s and IRAs? Plus, If you had to buy and hold one stock for the rest of your life, or if you had to choose one investing style and stick with it for the rest of your life, what would you choose? Meb Faber from the Meb Faber Show podcast answers those questions and talks about his upcoming book, The Best Investment Writing, Volume 2. And we’ll check in with Pure Financial Advisors’ Director of Research, Brian Perry, CFP®, CFA® for a 2018 second quarter market update. Transcript and show notes: http://bit.ly/YMYW-181