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This episode of Retire with Style continues the Retirement Planning Guidebook series by focusing on how tax planning changes when legacy and estate considerations are incorporated into the retirement planning process. Wade and Alex break down key estate planning concepts in a practical way, including step-up in basis rules, Roth conversion decisions tied to beneficiaries' future tax brackets, inherited IRA distribution rules under the SECURE Act, gifting strategies, estate tax exemptions, and how trusts and life insurance can be used to manage estate taxes and liquidity needs. The conversation emphasizes that retirement tax planning is not just about maximizing your own after-tax income, but also about improving the after-tax outcomes for heirs and charities. Listen now to learn more.   Key Takeaways Retirement tax planning changes significantly when leaving a legacy becomes a priority, especially regarding how different account types are spent down.  Taxable brokerage accounts receive a step-up in basis at death, allowing heirs to avoid capital gains taxes on appreciation that occurred during the original owner's lifetime.  Roth conversions can become more attractive if beneficiaries are expected to inherit assets during their peak earning years and face higher tax rates than the retiree.  Equal inheritances before taxes do not always produce equal inheritances after taxes, making asset location across heirs an important estate planning consideration.  In 2026, the federal estate tax exemption is $15 million per person, but future legislative changes could lower those limits substantially.  Several states impose their own estate or inheritance taxes, meaning some households may face state-level estate planning concerns even if they avoid federal estate taxes.  Annual gifting rules allow individuals to transfer up to $19,000 per recipient each year without reducing their lifetime estate tax exemption.  Life insurance can provide liquidity for estates and, when structured through irrevocable trusts, may help move future appreciation outside of the taxable estate.  The SECURE Act replaced many lifetime “stretch IRA” strategies with 10-year distribution windows for most non-spousal beneficiaries.  Inherited Roth IRAs still require distributions within the required timeframe, but those withdrawals are generally income tax-free to beneficiaries.  Chapters 00:00 Introduction to Retirement Planning Guidebook 03:10 Tax Planning and Legacy Considerations 05:55 Strategies for Tax-Efficient Inheritance 09:11 Understanding Estate Taxes 11:55 Gifting Strategies and Limits 14:49 Life Insurance and Estate Planning 18:00 RMDs on Inherited Accounts   Links

What if you could retire from the military at 50, bridge a decade of income, and pay less in taxes than you ever expected? It sounds too good to be true — but it's written right into the tax code. Spencer and Rob walk through exactly how a Roth conversion ladder works, who it's built for, and whether a simple brokerage account might actually beat it. Spencer Reese interviews Rob Moore, Army veteran, CFP candidate, and founder of Everman Wealth and Prosperity. Topics Discussed What a Roth Conversion Ladder is — moving funds from a traditional IRA to a Roth IRA each year before military retirement to create penalty-free supplemental income during the bridge period between military retirement and age 59½ Who it's for — service members retiring before 59½ who need to bridge their income gap, and those in the FIRE community with lower taxable income Contribution vs. Conversion — contributions can be withdrawn penalty/tax-free anytime; conversions require a five-year waiting period per conversion year The Five-Year Rule — each conversion starts its own five-year clock on January 1st of the conversion year; after five years, the converted amount can be withdrawn penalty and tax-free TSP limitations — Roth conversion ladders live entirely in the IRA universe; TSP rules are different and don't qualify (though the new TSP Roth conversion feature, live in 2026, is noted as a separate benefit) Practical example — a service member at age 49, five years from retirement, converts $20,000/year; at retirement (age 54), the first conversion is available penalty/tax-free, with each subsequent year unlocking the next rung Alternatives to the Roth ladder: Rule 72(t) / SEPP — rigid but allows early retirement account access Rule of 55 — penalty-free TSP access if retiring in the year you turn 55 Taxable brokerage account — flexible, no rules, and often more tax-efficient than people assume Brokerage vs. tax-deferred comparison — Rob's case study on a retiring O-5 showed the brokerage account came out ~$13,000 ahead in aggregate taxes over 16 years vs. a Roth conversion ladder strategy Tax bracket inflation adjustment — a reminder that brackets adjust for inflation, so projecting future RMD tax burden in today's dollar terms overstates the hit Backdoor Roth contributions — briefly mentioned as an option for those without existing traditional IRA funds; subject to the same five-year conversion rule and annual limits ($7,500/person, $15,000/couple in 2026) Resources Mentioned Fiscal Foxhole Podcast https://www.instagram.com/fiscalfoxhole— co-hosted by Rob Moore and Oman Quavo; available on all major podcast platforms Everman Wealth and Prosperity https://www.prosperwitheverman.com/— Rob's financial planning firm (Northern Virginia, fee-only) How Tax-Advantaged is Tax-Deferred? https://www.prosperwitheverman.com/podcastarticles/how-tax-advantaged-is-tax-deferred— Rob's article comparing brokerage vs. tax-deferred retirement savings Moneychimp.com  http://www.moneychimp.com — simple compound interest/tax calculator mentioned by Spencer Military Money Manual Podcast Ep. 216 — prior interview with Oman Quavo Military Money Manual Podcast Ep. 162 — backdoor Roth IRA deep dive with Brian Alf O'Neill of Winged Wealth Spencer and Jamie offer one-on-one Military Money Mentor sessions. Get your personal military money and personal finance questions answered in a confidential coaching call. militarymoneymanual.com/mentor Over 22,000 military servicemembers and military spouses have graduated from the 100% free, Ultimate Military Credit Cards Course available at militarymoneymanual.com/umc3 In the Ultimate Military Credit Cards Course, you can learn how to apply for the most premium credit cards and get special military protections, such as waived annual fees, on elite cards like The Platinum Card® from American Express and the Chase Sapphire Reserve® Card. https://militarymoneymanual.com/amex-platinum-military/ https://militarymoneymanual.com/chase-sapphire-reserve-military/ Military Money Manual may receive compensation from JPMC. Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain. Learn how active duty military, military spouses, and Guard and Reserves on 30+ day active orders can get your annual fees waived on premium credit cards in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3 If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual.

Anas Instagram : https://www.instagram.com/zssnasNabil Instagram : https://www.instagram.com/nabil.diouChapters:00:00:00 - مقدمة البودكاست مع السي نبيل (Introduction) 00:01:43 - تجربة نبيل فالمجال القانوني والبيزنس (Experience & Background) 00:04:22 - قصة الهجرة لألمانيا والقراية فالتسعينات (Study in Germany) 00:12:58 - الحياة كطالب فديار الغربة والمصاريف (Student Life in Europe) 00:20:13 - كيفاش كيتعلم الواحد من الخدمة فالمطاعم؟ (Lessons from Jobs) 00:23:45 - تحول المسار المهني من الـ IT للاقتصاد (Switching to Economics) 00:28:13 - شنو هي Optimisation fiscale (Tax Optimization)؟ (Understanding Tax Optimization) 00:29:32 - الفرق بين optimisation والتهرب الضريبي (Optimization vs Tax Evasion) 00:30:52 - كيفاش المليارديرات (Elon Musk) كيتفاداو الضرائب؟ (How Billionaires Avoid Taxes) 00:33:28 - علاش Creditماشي taxable؟ (Taxable) (Why Loans aren't Taxable) 00:35:48 - تسهيلات الضرائب للشركات الكبرى (Tesla) (Tax Incentives for Big Companies) 00:41:00 - قوالب الشركات العالمية فإيرلندا وهولندا (Tax Setups: Ireland & Netherlands) 00:43:55 - أحسن طريقة لخفض الضرائب للمقاولين الصغار (Tax Strategies for Small Biz) 00:48:05 - واش الضرائب ففرنسا وأوروبا ظالمة؟ (Is European Taxation Unfair?) 00:53:00 - مشاكل التقاعد (Retirement) والتضخم فالسوشل ميديا (Pension & Inflation Risks) 00:58:30 - نصيحة للموظفين اللي باغين يبداو البيزنس (Career Transition Advice) 01:03:10 - دور الزهر والفضل فنجاح المشاريع (Luck vs Hard Work) 01:15:00 - مشكل تحويل الأرباح للمغرب و digital nomads (Transferring Money to Morocco) 01:21:00 - أحسن الدول لفتح الشركات (Dubai, USA, EU) (Best Countries for Offshore Biz) 01:27:00 - كيفاش صانع المحتوى gérer الضرائب ديالو؟ (Tax Tips for Content Creators) 01:35:40 - مخاطر غسيل الأموال فـ TikTok ودعم اللايفات (Money Laundering on TikTok) 01:45:30 - واش تفكر فالضرائب قبل ما تبدا البيزنس؟ (When to Think About Taxes?) 01:52:00 - خاتمة ونصائح السي نبيل للمغاربة (Final Thoughts & Advice)*******************************************************************Follow WLEP on IG: https://www.instagram.com/wladlhajexperienceListen on Spotify: https://spoti.fi/3w1beaGI stream on Kick: https://kick.com/wladlhajexperienceI stream on Twitch : https://www.twitch.tv/anasokaaJoin our community on Discord: https://discord.gg/XTVf8cCnSy#بودكاست #podcast #maroc #المغرب

▸▸ Do you have questions for us? Ask us here: https://www.legalaccess.ph/▸▸ Get our Books here: shopee.ph/legalguide.phIs your "side hustle" actually a "side headache" when it comes to the BIR? Whether you're selling baked goods online, freelancing as a graphic designer, or doing occasional consulting, the question remains: Do you need to pay taxes on your extra income?In this video, we break down the "Raket Reality" in the Philippines. We'll discuss the thresholds for registration and how to stay on the right side of the law while growing your raket.Facebook: @LegalGuidePhTiktok: @legalguide.ph#RaketReality #FreelanceTaxPH #SideHustlePH #TaxTipsPH #LegalGuidePH

Are all-time highs making you nervous about your retirement date? Are you asking the question, “Should I delay my retirement because of everything going on in our economy?”  In this episode of The Market Moment, Matt and John dive into the common fear of Sequence of Returns Risk and whether recent market volatility should push back your 2026 retirement plans. While it's human nature to worry that "what goes up must come down," the guys explain why all-time highs shouldn't necessarily be feared and how proper planning can help manage retirement risks across different market environments.   In this episode, we cover: ➡️ Defining Sequence of Returns Risk: Why the timing of market downturns matters much more once you start taking income. ➡️ Don't Fear the Highs: A discussion of historical market behavior following all‑time highs. ➡️ The "Bucket Strategy": How to organize your assets into different "buckets" (cash, growth, etc.) so you aren't forced to sell stocks during a market dip. ➡️ Tax Flexibility: The importance of having various account types (Taxable, Tax-Deferred, and Tax-Free/Roth) to manage your retirement income efficiently. ➡️ Risk Re-evaluation: Why many pre-retirees are unknowingly taking more risk than they realize after a long bull market.   Enjoyed the episode? Don't forget to:

THE TOM DUPREE SHOW  |  PODCAST SHOW NOTES What Happens to Your Money When You’re Gone: A Practical Guide to Legacy Planning The Tom Dupree Show  |  Dupree Financial Group  |  dupreefinancial.com  |  859-233-0400 Air Date: April 25, 2026 Episode Description Most people spend decades building their wealth. Far fewer spend even an hour making sure it ends up where they intend. In this special edition of The Tom Dupree Show, Tom Dupree and Mike Johnson walk through the essentials of legacy planning — not as a legal formality, but as a practical, ongoing discipline that protects both the people you love and the assets you’ve spent a lifetime growing. The conversation covers beneficiary designations that override your will, the difference between who gets your assets, when they get them, and how much they actually keep after taxes. Tom and Mike also address Roth conversion strategies, required minimum distributions, the underappreciated advantages of taxable accounts, and creative charitable giving techniques that can reduce your tax burden while supporting causes that matter to you. Most people spend a lifetime accumulating what they have — it’s a shame not to take an hour to make sure it goes exactly where you want it to go. Topics Covered Why beneficiary designations supersede your will — and what happens when they’re out of date The three-bucket framework for legacy planning: who gets what, when they get it, and how much they keep Trusts: when they’re genuinely necessary and when simpler solutions work just as well The 10-year distribution rule for inherited IRAs and how it affects your heirs’ tax burden Roth conversion strategies — and why they’re not a one-size-fits-all solution Required minimum distributions: planning, consolidation, and the stiff penalties for getting it wrong Qualified charitable distributions and how to gift appreciated stock tax-efficiently Stepped-up cost basis in taxable accounts — a benefit that’s often overlooked in legacy planning The oxygen mask principle: taking care of yourself financially before transferring assets to heirs Why a dividend-income portfolio helps ensure you don’t outlive your money — and still have something to leave behind Key Takeaways Beneficiary designations override your will. Whatever your will says, the name on the beneficiary form wins. IRAs, 401(k)s, pensions, and life insurance policies all transfer directly to the listed beneficiary — bypassing probate entirely. Review these after every major life event. Legacy planning doesn’t have to be complicated. A well-drafted basic will, combined with properly updated beneficiary designations, accomplishes what most families need. Complexity is occasionally warranted, but it should match your situation — not someone else’s billing rate. Think in three buckets. Who gets your assets, when they receive them, and how much they keep after taxes. Each question has its own planning tools — and answering them clearly is the foundation of a solid plan. Inherited IRAs now come with a 10-year clock. Non-spouse beneficiaries generally must fully distribute an inherited IRA within 10 years, paying income tax at their rate. Depending on your heirs’ tax situation, proactive planning — including Roth conversions — may reduce the overall tax hit. Roth conversions are a tool, not a mandate. There’s a lot of marketing noise around Roth conversions. They make sense in some situations and not in others. The key is evaluating them in the context of your full financial picture, not as a standalone strategy. Gifting appreciated stock to charity is one of the most tax-efficient moves available. You avoid capital gains on the appreciation, receive a deduction for the full fair market value, and the charity pays no tax. If you’re already planning to give, this approach can accomplish more with the same dollars. Taxable accounts have underappreciated legacy advantages. Assets in taxable accounts receive a stepped-up cost basis at death, eliminating capital gains for your heirs. In some cases, a taxable account is a more tax-efficient inheritance than a pre-tax IRA. Secure your own retirement first. Gifting assets while you’re still living can be meaningful — but not at the cost of your own financial security. Take care of your retirement income needs before making irrevocable transfers. About The Tom Dupree Show The Tom Dupree Show is hosted by Tom Dupree, founder of Dupree Financial Group and a 47-year veteran of the investment business. Each episode covers the financial topics that matter most to retirees and those approaching retirement — in plain English, without the Wall Street spin. Dupree Financial Group is a fee-only, fiduciary Registered Investment Advisory firm based in Lexington, Kentucky. The firm manages separately managed accounts focused on income-generating, dividend-paying portfolios — no products sold, no commissions, no conflicts of interest. Past episodes are available at  dupreefinancial.com  under the Radio tab. Dupree Financial Group, LLC is an SEC-registered investment adviser located in Lexington, Kentucky. This content is provided for informational purposes only and does not constitute investment advice. Investments involve risk and are not guaranteed. Past performance is not indicative of future results. Schedule a Complimentary Portfolio Review If you’re not sure whether your beneficiary designations are current, your accounts are structured efficiently, or your legacy plan reflects where you are in life today — we’ll take a look. No charge. No pressure. Just an honest conversation about what you own and whether it’s working for you. Call: 859-233-0400  |  Visit: dupreefinancial.com The post What Happens to Your Money When You’re Gone appeared first on Dupree Financial.

In a world of noise and distraction, there is a trend in “Bringing Simplicity Back To Investing.” RICK FERRI and I talk about why it’s important for investments and why it’s important for individuals. You’re going to leave here understanding a new framework for looking at your investment portfolio and hopefully bring some peace of mind as you go forward. https://youtu.be/8EFnt_UTjEA Rick Ferri has been a good friend to the podcast. He shares his insights on simple investing, emphasizing the importance of clarity, discipline, and understanding the core principles of investing. He discusses the pitfalls of complexity, the value of index funds, and how to maintain a disciplined approach amidst market noise. https://open.spotify.com/episode/743dxOLLgZjUzKszZo4Owy?si=57mqK1ZmQ0a7LPdcwVoQ-g Keywords investing, index funds, simplicity, portfolio management, financial planning, discipline, asset allocation, tax efficiency, global growth, investment philosophy Key topics The philosophy of simple investingThe stages of investor learning: darkness, enlightenment, and simplicityThe importance of cash flow and intrinsic value in investmentsAsset allocation based on liabilities and time horizonTax-efficient investing strategies for taxable and retirement accountsRisks of alternative investments and private equity in retirement plansDiscipline and automation in maintaining investment strategies Chapters of “Bringing Simplicity Back to Investing” 00:00 The Philosophy of Simple Investing07:03 Stages of Investment Understanding11:19 Financial Planning and Purpose17:57 Implementing a Simple Portfolio23:01 Discipline in Investing30:46 Navigating Complexity in Wealth Management Resources Rick Ferri’s Website – https://rickferri.comBogleheads.org – https://bogleheads.orgIndex Fund Book by Rick Ferri – https://www.amazon.com/s?k=Rick+Ferri&ref=nb_sb_noss_2 Website – https://rickferri.comTwitter – https://twitter.com/RickFerri Skeptic’s Guide to Investing Outline: “Bringing Simplicity Back To Investing” Introduction: Three parts to simple investing: Philosophy, Strategy, Discipline Part 1: Philosophy: Overview: Embrace Simplicity – the Education of an Index Investor – 4 stages 1: Born in Darkness (who you ask, chasing returns, naive research) 2: Finding Enlightenment (measure, compare, enlightened) 3: Complexity Traps (slice'n dice, factors, the fallacy of perfection) 4: Embrace Simplicity (global equity, specific fixed-income as needed) Part 2: Portfolio Strategy Overview: Making the Philosophy Work for You 5: Setting Goals (family – culture, career – taxes, risk tolerance) 6: Managing Risk (three ways to allocate assets: required return, risk avoidance, cash-flow) 7: Tax Management (three account types, asset class tax, tax avoidance) 8: Investment Selection (ETF vs fund, balanced funds & TDFs) Part 3: Discipline: Overview: Implement, automate, stay the course 9: Implement fully (consolidate, tax issues, lump sum vs DCA) 10: Maintain regulatory (automate new, rollovers, TLH) 11: Adjust as goals change (accumulation vs distribution, tax situations, legacy) 12: Stay the Course (recommit occasionally, continue ed., conferences) Transcript of “Bringing Simplicity Back to Investing” Frazer Rice (00:00.962)Welcome aboard, Rick. Rick Ferri (00:02.3)Well, thank you for having me. Frazer Rice (00:04.258)Well, thank you. First of all, want to thank you for a kindness you showed me way back in time and having me on the Boggleheads podcast. It was probably worth at least 25 % of my book sales and it was a lot of fun to do and never forgot it. So it took a while, but here we are back on my podcast. And what I want to do is go through a little bit about really the three parts to simple investing, which I think is something, especially now with the proliferation of alternatives, a lot of noise with crypto. That sometimes we kind of lose sort of the forest for the trees as far as what’s the right things to be thinking about in terms of an overall investing philosophy sort of embrace. And so maybe let’s start with that. How do you think about the parts to a good investing thesis and what is your overall worldview on that? Rick Ferri (00:55.804)So I’ve been in the investment advisory industry now for 40 years. And what I have learned is that the simpler you can make investing and the simpler you can make the portfolio, the better for you, the better for your family, the better for those who will inherit your portfolio. Don’t make it complicated. Complexity is just job security for those people who are selling you things and trying to manage your money. And in the end, you don’t benefit from that. They do in the form of fees. And if you just had a simple portfolio of a few good index funds and maybe some individual securities, you’ll be much better off and your family will be better off in the long term. And that’s the philosophy of simple investing. Frazer Rice (01:50.947)Mm-hmm. Rick Ferri (01:53.208)The second part is a strategy. How do you go about doing this, particularly if you’ve had a complex portfolio? And the third thing is discipline, which is how do you stick with simplicity as an investment philosophy? Frazer Rice (02:06.318)Sure. and without the second two, it’s great to have high-minded thoughts and so on, but if you can’t do it, it’s all for naught, and then if you can’t stick with it, then the best laid plans just kind of go asunder here. So let’s go back to the philosophy for a second here, and as you think about, it’s almost like the life cycle of discovery and learning about how these things work. How do you think about that from an ARC perspective? Rick Ferri (02:12.561)Ha ha. Rick Ferri (02:36.05)So generally when you’re new to investing, you’re going to ask other people for advice. I where you get that from, might be a friend or family member, maybe a professional advisor, might be coworkers, maybe you’ll just get on the internet and start searching. I don’t know, but 99.9 % of the time you’re gonna run into advice that is not very good. And the advice will be, you should put your money here, you should put your money there. Use these 10 different funds. It’s just a lot of confusion, quite frankly. I call this stage darkness because you don’t, you you’re just investing in the dark. You don’t know. And a lot of the advice is going to be very short based upon short-term performance. So recency biased people are going to be recommending, but you know, growth stocks because the Magnificent Seven has done well in the past. Or buy crypto because crypto went up a lot in the past and so therefore you should buy it now. And so most of the advice you’ll get in darkness is going to be recent based upon recent performance and rather than looking at it over say how should you be investing over 10, 20, 30 years and that will end up being quite different. So darkness is where we all begin. And most people stay in darkness. They never get out of darkness because they don’t put the brain cells to work to look at how am I doing? I mean, how has that done for me? What seems to be happening in my portfolio? Really? Do I really know what’s going on? And then the ones who are very fortunate start asking questions about, what if I just Frazer Rice (04:06.125)You Rick Ferri (04:31.334)bought the market and bought an index fund and just got the return of say the US stock market or the international stock market and that’s all I ever did. Would I be better off? And the answer to that 98 % of the time is yes, you would be better off if that’s all that you did. And if you come to this realization, I call it the second stage, which is enlightenment, where you now realize that, okay, all the stuff I’ve been doing may have been okay. I’ve been moving in and out of things, but now I need to start looking at just buying the market and holding it for the longterm. And that’s enlightenment. But for some people, it doesn’t stop there. And they start to dig into this idea of indexing. When you start doing that, it’s good that you’re learning, but you’ll start running into a whole lot of noise. That is alternative indexes, enhanced indexes uh… explore strategies all of these things that you’re going to take this nice simple concept called indexing and make it complicated again. So you start adding all these things to your portfolio because it has the word index in it or maybe the word passive in it and uh… advisors are notorious for doing this it’s called complexity for job security Frazer Rice (05:39.148)Right. Rick Ferri (05:54.066)Basically, are, you know, you take the idea of indexing and you just add a lot of things all around the edges of it and you make a simple portfolio complicated. So the third stage of this process of simplicity is complexity. In other words, you’ve made something simple complex. Okay, so the last stage is Frazer Rice (05:54.221)You Rick Ferri (06:18.544)Simplicity. That is that you realize this is going on. You realize that all the stuff that you’re adding to your portfolio is just making it all complicated again. And that the people who are benefiting from this are not you, but the people that are selling you all this stuff. And you say, that’s it, I’m done. I’m going back to my second epiphany, if you will, which is simplicity. I’m just going to go back to a simple portfolio of a few broad index funds, US stock market index fund. An international stock market index fund that covers the whole market and a couple of bond funds, municipal bond fund and maybe corporate bond funds or treasury bond funds. And you could use index funds for those as well. And it’s a really low cost, very tax efficient and very simple. Frazer Rice (07:05.953)A couple of quick asides here. The first one is for people who are coming into this in and they’re in the darkness, but they are informed maybe from the TikTok world or Robin Hood or Kal-She or these or these betting orientations and distinguishing between betting and investing. How do you think about that and kick people over to the positive side of the force so that their emergence from the darkness into the enlightenment and simplicity doesn’t take them in a place where they really touch the stove in a bad way and have a bad experience that’s simple but bad. Rick Ferri (07:32.988)Right, okay. Rick Ferri (07:51.484)So there’s a concept called intrinsic value. You may have heard Warren Buffett speak about this. Well, you want to buy things that have cashflow. Bonds, for example, have cashflow. They pay interest. Stocks have cashflow. You have companies that are going concerns. They earn earnings and pay dividends. They buy back stock and they reinvest money. So you can value these things based upon these cashflows. Real estate has cash flow, it pays rent, or maybe you own timberland that you can cut the wood or you own a farm where you can harvest or lease it out. mean, these are cash flows. So the first thing that I have for cut in investing is cash flow. How do my investments generate cash or will generate cash later on down the road? That’s different than say buying gold or Bitcoin or currencies or commodities. Those things don’t have a way of generating a cashflow. One bar of gold put in a safe is one bar of gold a thousand years from now. It doesn’t become two bars of gold. doesn’t get little bars of gold. It doesn’t pay interest and so forth. mean, so unless you’re good at Frazer Rice (09:12.994)Right. Rick Ferri (09:16.966)Buying low and selling high, you can’t really expect to make anything other than maybe the inflation rate. And with commodities, you actually earn less than the inflation rate. Gold has earned a little bit more than the inflation rate. Where Bitcoin is going to end up, I have no idea. But the speculative assets are the ones that usually don’t have any intrinsic value. People are just betting on price because that’s all you have. I f price is going up, let’s buy it. Because the price went up. I don’t know where it’s going, but the price went up, so let’s buy it. And maybe someone dumber than us will buy it at a higher price from us, and then we can make money. But I mean, you have to trade these things. And what information do you have? None, really. It’s very difficult to come up with information that the market doesn’t already have. And you’re not a professional trader. So you might get lucky. I mean, people do get lucky. You you can flip a coin. And pick heads 10 times and if it comes up head 10 times it doesn’t mean you’re a good coin flipper you’re just lucky and so you can get lucky and you can make money doing this but it’s not a long-term investment strategy to do that it’s best to buy things that have cash flows or will have cash flows in the future. Frazer Rice (10:30.175)As I like to tell people, you not only have to be right, you have to be right twice, and then you have to be systematically right twice in order to make a living out of it. even professional traders struggle at that. And to think that you’re going to be better equipped than a lot of those folks is folly. And so I try to talk people out of that whenever I can, because I think… Rick Ferri (10:35.42)Correct. Frazer Rice (10:58.101)It’s just very difficult to play in that space and have that turn out to be a success. Okay, so we kind of have some ideas here around the philosophy and sort of the idea of, you know, sort of garnering luck versus skill and those types of components in that portfolio strategy, that second phase, maybe take us through that a little bit and how you take a good philosophy of simplicity and make it work for you. Rick Ferri (11:22.18)Right. So this gets into a little financial planning at the beginning of it because you can’t invest without a purpose. I you have to have a reason why you’re investing. It might be to pay future liabilities such as college for your children or retirement, or maybe you want to leave a legacy or maybe just trying to build wealth for the family, whatever it is. I mean, you have to have a purpose. And so what is the purpose? What are you trying to do? And you have to look at your life and you have to say, are my liabilities? What are my short-term liabilities? Do I want to buy a house? Or do I want to send my kids to Ivy League school? Do I want to retire early? And what are my liabilities? And sometimes it involves other family members. Maybe you have parents who need your help or siblings who need your help. So that’s a liability. The first thing you have to do is look at what are my liabilities? And included in that is how much you want to leave to your children. I often ask people, okay, you’ve got $10 million. How much do you want to leave to each of your three children? And they don’t have any idea. I said, do you want to leave more than 10 million or you want to leave less than 10 million? And a lot of people would say, well, they’ll get what’s left. Well, that changes the whole concept of investing if they’ll get what’s left. Frazer Rice (12:43.318)Sure. Rick Ferri (12:43.634)Versus, yes, I want to leave each of my child five million dollars when I die and I’m starting with ten. Okay, well that changes how you invest your money. So these are the liabilities. So that’s where you start with. And then you start looking at well, what are the short-term liabilities and what are the long-term liabilities? And long-term liabilities can be funded with equity. Meaning things that are ten years or longer out. I usually I tell people anything you’re to be spending your money on between say, Now and 10 years from now probably shouldn’t be in equity. You’ll be getting dividends and interest from your portfolio, which is fine. You could just spend that money. But in addition to that, I big chunks of money that you might be spending to buy a vacation home or whatever it is really should probably not be in equity. But the money that’s going to be not used for 10 years or longer, 20 years or maybe ever in your life, that can be in equity. don’t differentiate that first. A lot of times asset allocation, that’s what we’re talking about, starts with, well, what do you want between stocks and bonds? What do you want your portfolio to look like? What percentage in stocks and what percentage in bonds? I don’t think you really get to that number until you know when you’re going to be needing the money. If you’re going to be needing the money 10 years out, fine, that money can be in stock. So that would allocate a portion of that long-term money to stock and that might be a percentage. Okay, so that’s what we start with. A real basic look at who you are and what do you need and when are you going to need it and what are you trying to do for your heirs. And then that leads to an asset allocation between stocks and fixed income. The stocks again, I’m not investing in any stock money in liabilities that I have in the next say 10 years. So it’s long term. Okay. Now we have to look at the stock side. That’s the easy stocks. Stock investing is easy. I quite quite frankly, I’m working on a book right now about this, but stock investing is very simple. It’s much easier than fixed income and bond investing. Stock investing is simply we buy the global equity market. We’re just trying to buy the growth of global economic growth, global GDP growth. We’re trying to capture that, which has been going on. Rick Ferri (15:08.594)Fairly steady for about the last 250 years and continues to be that way as more and more countries shift more towards capitalism and away from fascism and communism and so forth and realizing that capitalism is the way if you want to take care of your people and you want to increase standards of living all around the world, it’s done through capitalism. much a fact of life. Capitalism works. Well, I’m well. Frazer Rice (15:31.185)I think many can agree with that, although it might not be popular here in New York. Rick Ferri (15:37.425)The reason New York existed was because it was a port for capitalism at first. So I mean, is the financial capital of the US still is New York. So you could disagree with it because you live in New York, but you’d be in a minority and you’d be outside of reality and history as well. But the idea is that it’s all I’m trying to capture this global growth of… Frazer Rice (15:41.686)That’s right. Frazer Rice (15:55.648)Exactly. Rick Ferri (16:03.026)Global economic growth, which is about 2 % per year in real terms. So if I get from equity, if I get the inflation rate and I get 2 % real growth and then I get about a 3 % dividend yield and that comes from both cash dividends and then buybacks, we’re looking at about a 7.5 % expected return from global equity. And that’s good enough. I mean, that’s all I need on my equity side. I’ll be outperforming inflation by about 5%. I’ll have to pay some taxes, but I’ll still have an actual real after-tax return of about 3%, which is good. Okay. The rest of it then goes into fixed income. And what type of fixed income? Well, that depends on what type of account that you have and what your taxes are. So if it’s in a taxable account, it could be municipal bond income, because it’s probably your best bet if you’re in anything other than a 22 % tax bracket. Or if it’s in your retirement account, could be corporate bonds. And depending what state you live in, it could be treasury bonds. But you don’t expect the treasuries or the corporate bonds or the municipal bonds really to give you much of a return over taxes and inflation. If you could pick up 1 % over taxes and inflation over 20 years or so by being in fixed income, I mean, you’re actually doing well. So that is more of a stabilizer, meaning you don’t want to be all in stock because you can’t handle the volatility of the stock market. It goes up and down too much, even though the asset allocation would say, well, you should have an awful lot of your money in stock because you have a lot of money that you’re not going to be needing in the next 10 years. But a lot of people can’t handle having a lot of money in stock. So you have fixed income that at least keeps up with taxes and inflation over the long term. And that becomes part of your asset allocation as well. So it’s kind of how you This is what you do first before you go out and pick any index funds. You have to go through this process. Frazer Rice (18:00.116)And then as part of that, I spend a lot of time basically all day, every day thinking about the tax management side of things and helping people understand their appetite for volatility and how that impacts their long-term goals and things like that. The creation of these buckets to understand where you are in your tax situation and where you’re going to be, that can have a pretty significant impact on how things do. And from your perspective, I that’s really just, that’s a function of projecting out the purposes that you described before with your current situation and then the vehicles with which to invest in. Rick Ferri (18:38.226)Right. And you’re not trying to hit the ball over the fence here. I mean, you’re just trying to get your fair share of the returns that are available to everybody. And through index funds, and this is where index funds come in, you can get exactly that. I mean, you could buy a global equity index fund, a global equity, covers the entire globe for a few basis points, 0.05 % per year fee. It’s very tax efficient. And that wasn’t the case. 30 years ago, 40 years ago, but it is now. that’s the way you should do this. You don’t want to leave out all these ideas that you’re going to go out and hire people who are going to outperform that because they don’t. A vast majority of them don’t. Frazer Rice (19:21.963)And so the machinery to implement these portfolios, ETFs are sort of standard tax-efficient ways to do things. Mutual funds distribute gains at the end, which is sometimes a nasty surprise for people who are learning about this. Maybe take us through your analysis on how to implement this index investing in a way that stays simple and tax-efficient and at the same time helps you take advantage of what’s out there. Rick Ferri (19:52.883)So we have to divide up the world between your taxable money. Again, you already have a portfolio. So you have all these legacy assets in a portfolio, in your taxable portfolio. Then you have your retirement portfolio, 401k, 403b, 457 IRA, rollover, Roth IRAs, tax-free portfolio. So you have to look at taxes first. To implement a…simple portfolio say in a 401k if you have access to a target date index retirement fund like a Vanguard or an iShare or a State Street very low cost Fidelity has one too but very low cost index target date retirement fund this does it all for you you don’t have to do anything you just have to buy one fund based upon what the asset allocation is underneath the hood of that particular fund. How much in stock, how much in bond. That’s all you need to do in a 401k. You could roll your own in a 401k by buying individual index funds like a US stock market index fund, an international index fund, and say a bond index fund. So you could do your own allocation if you wish. But a target date fund works really well there. In a Roth account, you probably just want to have equity because there’s no tax in a Roth account. So you want to get maximum growth out of that account. So I would you look at the Roth account and I’d say, well, I’ll just buy the global equity index fund and my Roth account. And that’s it. All I have. So you’ve got your retirement accounts, which are target date fund. Very simple. You’ve got your Roth accounts, which are just a global equity index fund. And the only thing you need to worry about is your taxable account. Taxable accounts always have issues because people will come in and they will have this list of stuff that they already own and guess what there’s a lot of embedded long-term capital gains in there and if you just sell it and go to a index portfolio you may not be doing the clients a good service because they’ll pay a tremendous amount of taxes and if they’re over 65 they’ll have to pay more for medicare ermor they’re going to lose their over 65 deduct i mean lots of bad things happen when you just sell out of a taxable account Rick Ferri (22:04.722)So there you’re going to be a little bit more tactical. know, you’re going to wait. The market will give us some opportunities to trade out of some stocks or some investments that may have losses. So you can then take those losses. You could sell other things to that have some gains to offset the losses. And I mean, you may never get out of everything that you’ve got in a taxable account. But the idea is to have this portfolio out there of say, a US total stock market index fund and a municipal bond fund. That you want to move towards. So as you’re selling these things off, you’re just putting the money in a US total stock market fund. And the reason I say US total stock market in a taxable account is because they’re so tax efficient. The dividend yield is down about 1.2%. They don’t distribute capital gains in an ETF. And that’s a great fund for a taxable portfolio. But you just can’t sell everything and buy it. You’ve got to crawl your way out of what you currently have. Frazer Rice (23:05.715)No, you have to do it thoughtfully or else you create hits that are unnecessary. So as we segue to the discipline portion here, one thing that’s popping up is the, I think the discipline to stay simple. The world out there, the US in particular, is making retirement accounts safe for alternative investments like private credit and private equity. Rick Ferri (23:10.256)Right. Frazer Rice (23:31.211)I just bristle and shudder because I think there’s a level of complexity and illiquidity that is misunderstood and it is going to be difficult, nay impossible, to properly educate people on where those things sit in the asset spectrum to the point where they justify their fees or anything like that. Maybe take us through what you think on that as we get to the discipline portion of how you sort of stay the course with this mindset. Rick Ferri (24:00.924)Well 401ks are allowing these private equity investments and private debt investments in, but I personally have not seen any of my clients and I have a lot of clients and I charge an hourly fee. So I’m not trying to sell anything or manage anybody’s money, but nobody’s asking for these things. where, where are they getting the idea that they should own them? Well, they’re getting from the people that were selling them, right? The people who are making fees from them. I haven’t seen any useful data that says that these things actually enhance your return. Alpha goes to the manager. I say that over and over again. If these things actually produced a higher rate of return than say just a corporate bond index fund, you’re not going to get it. It’s going to go to the advisor, it’s going to go to the manager, and all you’re going to do is take the risk. You’re going to take the risk and they’re going to get the excess return in the long term through fees. They don’t make any sense. You don’t do it. It’s just the rehash of active management and mutual funds, which has already been dismissed as not producing anything for you, the investor. It only generates fees for the people in the investment industry. This is just another iteration of that and we’ve already seen some cracks. Isn’t that what Jamie Dimon said? What are they cockroaches? I think is the word that he used in the private equity market. And yeah, I mean, this is not new. This is just a repackaging of ideas just that now they’ve been allowed to go into the 401k market. But you have to ask yourself why haven’t they been allowed to go into the 401k market for the last 40 years if they’ve been so great? It’s because the SEC Frazer Rice (25:31.978)Right. Rick Ferri (25:58.703)The Department of Labor said, no, we’re not going to allow these things in there. you give people enough rope to hang themselves. They’re not going to hang themselves, by the way. Somebody else is going to put the noose around their neck. And that’s the advisors who are doing that. Frazer Rice (25:59.499)Department of Labor and right. Frazer Rice (26:19.066)And I mean, a different podcast probably, but it’s something where the liability really is going to shift to the planned sponsors. I don’t care what happens and you know, they’re going to present these things and something’s going to blow up. And it’s like, know, you may you gave me the option and they’ve already those lawsuits already already proliferate. OK, so back to discipline a little bit here. What should people be doing in order to make sure they can carry carry out the. Rick Ferri (26:39.367)Yeah. Frazer Rice (26:47.147)What they’re doing in a systematic way and keep themselves safe from being distracted by all this noise. Rick Ferri (26:52.86)So again, that’s why we start out with the philosophy. You have to believe in the philosophy of simplicity and simple indexing. You can’t just jump to it because some TikTok video said buy index funds, okay? If you’re just jumping to it that way, then you’re not gonna have the discipline to stick with it because it’s just another phase or fad or whatever in your mind. You don’t really truly understand. Frazer Rice (27:14.346)Mm-hmm. Rick Ferri (27:22.32)Why you’re doing it this way. So it gets back to the philosophy. Really got to understand the philosophy and why this works better than 98 % of everything else out there over your lifetime. And then you create the strategy for yourself and now you’re working towards completing that. Again, in the retirement account it’s done quickly, but in your taxable account it could take a while. The discipline is while you’re getting your portfolio in line, the first thing you need to do from a discipline standpoint is actually do it. Actually go to your 401k and change what you’re investing in. Because so many people will do the strategy, but it never gets actually implemented. Or maybe it gets 50 % implemented. It never gets old. It doesn’t, I don’t want to say never, because I have a lot of clients who do fully implement it, but I also have clients that I’ve given them the plan and three years later or five years later they come back and they haven’t done anything. Okay. And so I say, you need to implement the plan. Nothing has changed. So you got to, the plan first off has to be implemented fully. And then once it gets implemented fully, it’s a lot easier to maintain it. But if it never gets implemented fully, then of course you can’t maintain it. So implementation of the plan fully is the first discipline, the first part of discipline. And then once that’s done, maintaining it. In other words, not being drawn off course. Yeah, it’s fine to say, the price of oil is gonna shoot through the roof because what’s going on in the Middle East, so I’m gonna buy an energy index fund. That sounds like something I should do. No, it’s something you could think about. Something might be interesting, but it’s not something you should do. So discipline transcends the urge to do things. In other words, like John Bogle said, don’t just do something, stand there. And that takes more going back and remembering why you have this philosophy, going back and looking at the data. Rick Ferri (29:46.151)going to the right place to find information. And I’ll mention the bogeyheads.org website to go back and remind yourself why you’re doing this. If you’re gonna stick with it and these things help you stick with it. The more you automate things too, the better it is. Like we’re in a 401k just automatically invest in the target date fund and don’t do anything else. So automation helps you as well. Frazer Rice (30:05.736)Hey, hey. Frazer Rice (30:14.109)No question, if you can take these things out of your own hands in many ways and delegate it out and it happens automatically, just a chance of success on that front. And then if life intervenes and things need to be adjusted, you deal with it at that point and not have CNBC or the world news whipsaw your viewpoint on these different things. So as we wind down here, just talk a little bit about the service that you provide, sort of these larger family office clients, because I think in a lot of times they gravitate toward complexity, they gravitate toward FOMO investing and how you help to center that back to this worldview so that they get where they’re going at scale at sort of that ultra high net worth world and remind them of you how they got there and how to not be how to not leave by by getting cast aside into these different whirlpools that are out there Rick Ferri (31:13.778)That’s a great question. So you got to pick your advisors well. So some of my clients have a net worth over a billion dollars. I have several clients that have several hundreds of millions of dollars and believe me, They have simple portfolios, total stock market, total international municipal bonds. It’s all they have. And it may seem strange, but they don’t have these limited partnerships that you can’t get out of or syndicated deals that may sound good. I say to them, you don’t have enough money to own those, meaning that if you’ve only got $100 million, you’re just chump change to the Goldman Sachs of the world or the Morgan Stanley’s. When it comes to who’s going to get the good deal on a the next private equity deal or venture capital fund. You’re the person they sell the leftovers to. I know it’s hard to people to accept this. They think they have a lot of money if they have a hundred million. But the fact is they don’t. I mean, if you’re not sitting on five, ten billion dollars, you’re not going to get preferential treatment. You’re going to get you might get lucky. Just like everything else, the coin flip idea, but most of the time you’re not going to end up coming out ahead. That’s not the way they make you feel when they sell you these things. They make you, even if you had a million dollars and your Wells Fargo broker is trying to sell you some limited partnership, they’re going to make it feel like you’re very special and that this is a very special deal that is just for you. Frazer Rice (32:46.505)You Rick Ferri (32:50.322)And that’s how it’s going to be sold to you. But in the end, when you look at your performance and you say, I want to get out of this thing and you can’t, you realize at that point that maybe you shouldn’t have done it to begin with. And I’ve had experience going back 30 years working with some of the very largest families in the country, some magnificent seven IPO families, and they all want to get back to simplicity. They want to get rid of all of the stuff that they had gotten. And it’s true. And it’s better for estate planning as well because you need to transfer these things eventually to somebody else’s name. Frazer Rice (33:35.785)you’ve triggered me. I’m dealing with this on multiple levels, on multiple different things, and I’ve had to be trustee on some of the complexity and sort of sit Indian style and try to own your way through it. It’s brutal. So. Rick Ferri (33:53.81)Wouldn’t it be so much nicer just to have, let’s say, a single total stock market ETF to have to deal with rather than all that other stuff? Frazer Rice (34:01.807)No question. OK, so as we wind down here, how do listeners and watchers find you? Rick Ferri (34:09.478)Well, they can find me at Rickferri.com. I’m not currently and I won’t be taking on any new clients. I’m sorry for that, but I have a set clientele and that’s all that I am working with and I won’t be expanding my clientele. But there are other people that do this that believe in what I do. And you can go to Rickferry.com and you could find their names there. But me personally, you can find me on Rickferry.com. I’ve written several books about this. I’m writing another one. And but I apologize that I’m not off the market as far as hiring me personally. Frazer Rice (34:45.645)I love it. But at the same time, your books and your other ways that get out there, they are on RickFerri.com. So we’ll have that in the show notes. In the meantime, Rick, thanks for being on. Rick Ferri (34:52.07)Yes, exactly. Thank you. https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/

Register for my free training here: https://www.bgwprograms.com/any-economyYou know you should be doing more with your money. You have savings sitting somewhere, maybe in a Chase or Wells Fargo account earning practically nothing, and you keep hearing about investing but you are not sure if you are ready, or where your money should even go. In this episode, I am breaking down the difference between a high yield savings account and a taxable brokerage account. Not just what they are, but when to use each one, how much to keep in each, and how to think about your money in a way that actually makes sense for where you are right now.You'll learn:✅ What a high yield savings account is and why it earns significantly more than a traditional bank savings account✅ What to keep in your high yield savings account ✅ What a taxable brokerage account is and how it can grow your money outside of retirement accounts✅ How to use timeline sensitivity to figure out exactly where your money belongs right nowIf you are ready to stop letting your money sit and start building a real strategy, this episode is your starting point.Let's connect:Website: www.buildinggenwealth.comInstagram: @building.gen.wealthLearn more about 1:1 Money Coaching: www.buildinggenwealth.com/moneycoaching

Are credit card rewards really tax-free? In this episode, we break down when points, miles, and cash back are safe—and when they can become taxable income. You'll learn how the IRS treats rewards, what triggers a 1099, and how business owners need to handle deductions correctly. We also cover common mistakes that can lead to penalties or audits. If you use credit cards for personal or business spending, this episode will help you avoid surprises and use smarter tax planning to keep more of your money.   Next Steps: ➡️ Overpaying your CPA and the IRS? Learn how to stop it in this free training: https://go.phillipsbusinessgroup.com/registration

Sophia Wang and Frank Hinoporos explore when money received from overseas relatives is truly a gift for Australian tax purposes, and when it may attract scrutiny from the ATO. They highlight key red flags, what the ATO looks for, and why clear documentation, including a deed of gift, is critical to reducing risk.

Ultradeck Bottom Boards, Bawden Assay, Supersedures, Taxing items in your beekeeping, Zabrus Cappings Wax, Local Hive Report, Closing Comments

$4 to $5.4 trillion is set to change hands in Australia's great wealth transfer, and most families have no idea how much tax is hiding in super, shares, and property along the way. Nick walks through a real client case where a 94-year-old with $5.3 million in assets was staring down a $300,000 tax bill for her kids, and the strategies that brought it right down. And with The Australia Institute now proposing to bring back an official inheritance tax, estimated to raise $10 billion a year, this is a conversation worth having sooner rather than later. On this episode, we discuss: (00:00) Intro (00:19) The Great Australian Wealth Transfer, $4 to $5.4 Trillion (01:04) Why the Wealth Transfer Affects Every Family (03:30) Could Australia Bring Back an Inheritance Tax? (04:28) The Australia Institute Proposes $10 Billion a Year Inheritance Tax (05:21) Betty's $5.3 Million Estate and a Hidden $300,000 Tax Bill (07:34) Taxable vs Non-Taxable Super Components Explained (09:28) How a Full Pension Withdrawal Saved $100,000 in Super Tax (10:07) Re-Contribution Strategy to Reduce Taxable Super (12:12) Capital Gains Tax on Inherited Shares (13:34) Staging a Share Sell-Down Over Three Years to Save $55,000 (15:08) Inherited Property, Main Residence vs Investment Rules (18:58) Selling Property Before Passing It On to Reduce Capital Gains (22:04) The $390,000 Super Re-Contribution Rule Check out the free resources from Inovayt here. Send us an email: hello@thenumbersgamepodcast.com.au The Numbers Game is brought to you by Future Advisory & Inovayt. Hosts:Nick ReillyJason Robinson This podcast is produced by VIDPOD. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

WHERE SHOULD YOU SAVE FOR RETIREMENT AFTER A 401K? FROM BALTIMORE WASHINGTON FINANCIAL ADVISORS Tyler Cunningham, CFP®, CEPS Financial Planner Tessa Hall Media and Communications Specialist About This Episode Tessa speaks with BWFA Financial Planner Tyler Cunningham about retirement savings strategy and why where you save can matter just as much as how much you save. They discuss the role of pre-tax accounts like 401(k) s, along with Roth and taxable accounts, and how each can impact your flexibility and tax efficiency in retirement, especially when deciding where to save for retirement after a 401(k). To better understand how your savings strategy fits into your broader financial plan, visit our Financial Planning page. Read Full Description Saving for retirement is important. However, many investors eventually ask a key question: where should you save for retirement after a 401(k)? The answer can have just as much impact as how much you save over time. In this episode of Healthy, Wealthy & Wise, Tessa speaks with BWFA Financial Planner Tyler Cunningham about retirement savings strategy and why using multiple types of accounts can improve flexibility in the future. While many people focus on contributing to their 401(k), understanding where to save next can create more options when it comes time to use those savings. Pre-tax accounts, such as a 401(k), offer immediate tax benefits. These contributions can reduce taxable income during working years. However, withdrawals in retirement are taxed as ordinary income. As a result, investors who only use pre-tax accounts may limit their flexibility later, which is why it is important to consider where to save for retirement beyond a 401(k). That is where other account types come into play. Roth accounts allow for tax-free withdrawals in retirement, provided certain conditions are met. Taxable brokerage accounts offer additional flexibility, often with different tax treatment on gains. Together, these accounts create more opportunities to manage income and taxes over time. The conversation also highlights why distribution strategy matters. When retirees draw from multiple account types, they may be able to better control their tax bracket. This becomes especially important for those who have built savings across different accounts after their 401(k). Another key takeaway is that saving is only the first step. Building a thoughtful strategy across different account types can help support both short-term needs and long-term goals. Knowing where to save for retirement after a 401(k) can help investors make more informed decisions along the way. Ultimately, a retirement savings strategy is about more than accumulation. With the right structure in place, investors can create flexibility, manage taxes, and feel more confident about how and where their savings will support them throughout retirement.

Bill and Andy Bush dive into the retirement plan rules that trip up participants most often—from the Rule of 55 and IRS 72(T) distributions to SIMPLE IRA rollover restrictions, in-service distribution provisions, and the nuances of RMDs under SECURE 2.0. The brothers break down each rule with real-world examples pulled from recent client calls, covering when you can access your 401(k) penalty-free, why rolling into an IRA can cost you flexibility, how beneficiary rules changed under the 10-year distribution window, and what early withdrawal exceptions (including QDROs and disaster provisions) actually look like in practice. Whether you're planning ahead or reacting to a life event, this episode is a practical field guide to the rules that govern your retirement dollars. ⏱ Episode Timeline & Key Topics 00:00 – Welcome & Episode Setup Bill opens with a Spicoli quote from Fast Times at Ridgemont High and sets up the theme: retirement plan rules you may or may not have known about. 00:53 – The Rule of 55 If you leave your employer at age 55 or older, you can take distributions from that employer's 401(k) without the 10% early withdrawal penalty: ·         Must be the plan at the employer you separated from ·         Taxable, but no penalty ·         Rolling into an IRA eliminates the Rule of 55 protection 02:12 – IRS Rule 72(T): Substantially Equal Periodic Payments Starting at age 55, you can take early distributions from IRAs or 401(k)s using the 72(T) rule: ·         Payments must be substantially equal ·         Must continue for five years or until age 59½, whichever is longer ·         Andy shares a real client example of someone who used 72(T) after early job loss 03:30 – SIMPLE IRA Two-Year Rule SIMPLE IRAs carry a unique two-year restriction from the date of your first contribution: ·         Distributions or rollovers within two years trigger a 25% penalty (not the usual 10%) ·         Rolling funds into a SIMPLE IRA from a 401(k) or other source also requires the two-year window to pass ·         SECURE Act expanded allowable rollover sources, but the timing restriction remains 05:31 – Roth Five-Year Rules Roth IRA contributions can be withdrawn at any time tax- and penalty-free, but earnings have their own rules: ·         Earnings require the account to be open for five years and you must be 59½ or older ·         The five-year clock starts with your first Roth IRA deposit 06:43 – In-Service Distributions from 401(k) Plans You can take distributions while still employed, but the rules are plan-specific: ·         IRS default age is 59½, but your plan document can set a different age (examples: age 40, age 55) ·         Common reason: rolling funds to an IRA for income planning options not available inside the 401(k) ·         Building a retirement "income floor" can increase confidence and even lead to more spending in retirement 09:57 – In-Service Strategy: Roth IRA Consolidation Participants who already have a Roth IRA on the outside can roll Roth 401(k) funds into it via in-service distribution, consolidating accounts and keeping the five-year clock running. 10:20 – Required Minimum Distributions (RMDs) RMD ages under SECURE 2.0: ·         Born before 1960: RMD begins at 73 ·         Born after 1960: RMD begins at 75 ·         Still working and contributing? No RMD from your current plan (unless 5%+ owner) ·         Old 401(k)s from prior employers still require RMDs ·         IRA RMDs can be aggregated—take from one account to satisfy the total ·         401(k) RMDs must be taken individually from each plan ·         The "Andy Bush Hack": roll old accounts into your active plan to defer RMDs 14:07 – Beneficiary / Inherited Account Rules Non-spousal inherited accounts changed significantly under SECURE 2.0: ·         Old rule: stretch over beneficiary's lifetime or take within 5 years ·         New rule: all funds must be distributed within 10 years ·         If deceased was already taking RMDs, beneficiary must continue annual distributions ·         Strategy: increase your own 401(k) contributions and offset with inherited account distributions 16:35 – Early Withdrawal Exceptions Several exceptions allow penalty-free early access to retirement funds: ·         Medical expenses exceeding a threshold ·         Disability ·         QDROs (Qualified Domestic Relations Orders) for divorce ·         Federally declared disaster provisions ·         Hardship withdrawals (still subject to 10% penalty if under 59½) 18:15 – Check Your Summary Plan Description (SPD) Every provision discussed is plan-specific: ·         Ask your HR or plan sponsor for the SPD ·         Documents are being updated as SECURE 2.0 provisions phase in ·         Your SPD is the definitive source for what your plan allows ✅ Key Rules Quick Reference ·         Rule of 55 – Penalty-free 401(k) distributions if you leave your employer at 55+; lost if rolled to an IRA ·         72(T) – Substantially equal periodic payments from IRAs/401(k)s starting at 55; must last 5 years or until 59½ ·         SIMPLE IRA Two-Year Rule – 25% penalty on distributions or rollovers within two years of first contribution ·         Roth Five-Year Rule – Contributions out anytime; earnings require 5 years + age 59½ ·         In-Service Distributions – Available while still working; age set by plan document (default 59½) ·         RMDs – Age 73 (born before 1960) or 75 (born after 1960); still-working exception for current plan only ·         10-Year Inherited Account Rule – Non-spousal beneficiaries must empty inherited accounts within 10 years ·         QDROs – Court-ordered retirement account splits in divorce; rollover is tax- and penalty-free ·         Disaster Provisions – SECURE Act allows automatic early access in federally declared disaster areas 19:49 – Closing & How to Reach the Brothers Bill and Andy wrap up with a reminder that every situation is nuanced—reach out with questions. ·         Bill Bush: bbush@horizonfg.com ·         Andy Bush: abush@horizonfg.com

Investing” Is Not the Same as “Owning” A client said something to Bruce recently that stuck with me: “I despise the idea of a 401(k)… but I also know I'll spend the money if it hits my checking account.” That single sentence captures the tension so many families feel. https://www.youtube.com/live/1d8Ln6EsBxk On one hand, you want control. You want options. You want the ability to pivot when life changes or opportunity shows up. On the other hand, you've been trained to believe the “responsible” path is to lock money away, chase a rate of return, and hope the future works out. That's why Bruce and I recorded this episode—because most people think wealth is built by finding the right investments. But the families who build long-term, sustainable wealth usually share something deeper: They've learned the difference between investing vs owning assets—and they prioritize control of capital. In the first 100 words, let's say it plainly: if you're only “investing,” you may be building a net worth number, but still living with limited access, limited flexibility, and limited decision-making. Owning assets is different. Ownership changes your options—today, not just someday. Investing” Is Not the Same as “Owning”What You'll Learn About Investing vs Owning AssetsInvesting vs Owning Assets: What's the Difference, Really?Taxable vs Tax-Deferred vs Tax-Free Accounts: Don't Confuse the Account With the InvestmentWhy Too Much Money in Qualified Plans Can Limit Your OptionsTraded vs Non-Traded Investments ExplainedPrivate Real Estate Investing vs REIT: What You're Actually ChoosingWhat Is an Accredited Investor Definition—and Why It MattersHow to Buy a Small Business to Build Wealth (Even If You're a W-2 Earner)“Who Not How”: Build Ownership With the Right TeamInvesting vs Owning Assets in Everyday Life: A Simple Self-AssessmentInfinite Banking as a Wealth Strategy: Where Ownership and Control Show UpInvesting vs Owning Assets: Ownership Changes Your OptionsListen to the Full Episode on Investing vs Owning AssetsBook A Strategy CallFAQWhat is the difference between investing vs owning assets?What does traded vs non-traded investments explained mean?Is a REIT the same as owning real estate?Why do qualified plans like 401(k)s reduce control of capital?How do I build wealth outside the stock market? What You'll Learn About Investing vs Owning Assets In this blog (and podcast), Bruce Wehner and I unpack what we called the “unseen wealth gap”—the gap between families who primarily invest and families who intentionally own assets. Here's what you'll gain by reading: Clear definitions: taxable vs tax-deferred vs tax-free accounts (and why most people confuse the account with the investment) The real difference between traded vs non-traded investments Why so many families feel trapped inside qualified plans (401(k)s, IRAs, SEP IRAs, SIMPLE IRAs, 403(b)s, 457s) Practical ways to build wealth outside the stock market—even if you're a W-2 earner How liquidity and access to capital can matter more than a projected rate of return Where Infinite Banking and cash value life insurance can fit into an ownership strategy And just to be clear: this is education and perspective—not individualized financial advice. Our goal is to help you think better, ask better questions, and make decisions with more clarity. Investing vs Owning Assets: What's the Difference, Really? People hear “ownership” and say, “But I own stock. Isn't that ownership?” Technically, yes—you own shares. But for most everyday investors, that “ownership” often comes with very little control. Here's the simplest way we can say it: Investing often means you participate in an asset's performance, but you don't control decisions, timing, access, or outcomes. Owning assets means you have more influence over the decisions, the structure, the cash flow, and the information—especially when you own businesses, real estate, or private assets where you can ask questions and understand what's actually happening. Bruce made a point that's worth repeating: with public companies, you cannot call the CEO, ask hard questions, or influence strategy. With many private ownership structures (like certain partnerships), you can talk to the sponsor, review details, ask “what happens if…,” and understand the philosophy and vision—not just the numbers. That difference—access to information and decision-making—is part of the wealth gap. Taxable vs Tax-Deferred vs Tax-Free Accounts: Don't Confuse the Account With the Investment One of the biggest misunderstandings we see is this: people treat the account type as the investment. They'll say, “I'm investing in a Roth,” or “I'm investing in my 401(k).” But your 401(k) is not the investment. It's a tax bucket. Taxable accounts These are accounts where you typically pay taxes as you earn interest/dividends or realize gains (like selling a stock for a capital gain). Think brokerage accounts, bank interest, and many dividend-producing holdings. Tax-deferred accounts (qualified plans) These include 401(k)s, traditional IRAs, SEP IRAs, SIMPLE IRAs, 403(b)s, 457s, and some annuities. Tax-deferred means you generally postpone taxes now and pay later—plus you follow IRS rules for access and distribution timing. This is where many families have the majority of their money… and also where many families feel stuck. Tax-free strategies (or tax-advantaged) This category can include Roth IRAs, certain municipal bond interest, some forms of home equity, and properly structured life insurance strategies (depending on your situation and compliance). The point isn't that everything is “tax-free.” The point is: many families never even explore this category beyond “Roth or not.” When you only see two options—pay tax now or pay tax later—you miss the strategies that create flexibility. Why Too Much Money in Qualified Plans Can Limit Your Options Bruce said something that we see all the time: Some families have 95%—sometimes close to 100%—of their money inside qualified plans. Then life happens: A business opportunity shows up A real estate purchase requires speed A family emergency requires liquidity A market downturn makes you hesitate to sell assets A capital call comes due And suddenly the real problem isn't “returns.” It's access. If you want to understand how to build wealth outside the stock market, start with this question: Do I have enough capital outside qualified plans to act when opportunity (or adversity) arrives? This is why we talk so much about liquidity strategy and access to capital. Control isn't a philosophy. It's practical. Traded vs Non-Traded Investments Explained This is one of the most important distinctions in the whole conversation. Traded assets Traded assets are priced and exchanged in public markets—stocks, many ETFs, and other exchange-traded products. You get liquidity, but you also get the “whims” of market psychology. Bruce gave a powerful example: an apartment portfolio could be collecting rent just fine, but if investors panic, the traded price can drop anyway because people sell. So the asset can be stable—while the price swings. Non-traded assets Non-traded assets are not priced minute-by-minute on an exchange. That usually means less liquidity, but potentially more stability in valuation and often different risk/return expectations. Bruce used the example of non-traded real estate structures where the sponsor purchases assets, manages operations, and the investors participate based on the structure. This is where the key phrase comes in: liquidity and access to capital. Non-traded can mean you can't exit quickly. That can be a feature or a risk—depending on whether you planned for it. Private Real Estate Investing vs REIT: What You're Actually Choosing Real estate is a perfect example because people can “invest” in real estate in multiple ways. REITs A REIT (Real Estate Investment Trust) can be traded or non-traded. The big difference you experience as an investor is usually liquidity and market pricing behavior. Private real estate ownership This includes owning rental properties directly, participating in partnerships, or investing in private deals like syndications (depending on eligibility and suitability). If you're asking, “Is this investing or owning?” here's a helpful lens: If you're buying a ticker symbol, you're mostly buying market exposure. If you're buying an interest in a specific asset and can ask questions about operations, assumptions, and scenarios, you're closer to ownership behavior—even if you're not the operator. And of course, none of this is “good” or “bad” by default. The question is: what fits your goals and your risk tolerance? What Is an Accredited Investor Definition—and Why It Matters Bruce explained the reality that certain private investments require accredited investor status. At a high level, that status can involve income thresholds or net worth thresholds (with certain exclusions, like primary residence equity). The reason it matters is simple: access. But let's not miss the bigger point: You don't need to be accredited to start shifting from “only investing” to “increasing ownership.” Business ownership, skill-based service businesses, local cash-flowing acquisitions, and many forms of direct real estate ownership do not require that label. So if you're not accredited, don't let that become a mental dead end. There are still practical ownership paths. How to Buy a Small Business to Build Wealth (Even If You're a W-2 Earner) Rachel here—this part matters because people assume business ownership has to mean: Starting a tech company Buying a major franchise Quitting their job overnight Taking huge risks with no plan

TO TAKE ADVANTAGE OF ANDY'S JUNK SILVER OFFER go to https://thoughtfulmoney.com/buygoldIs the correction in gold & silver prices over?Are prices about to rally higher again, or is there more room left to fall farther?Precious metals expert Andy Schectman provides his latest outlook for the precious metals and takes live audience Q&A.#goldprice #silverprice #preciousmetals 0:00 - USA Hockey Win Mention1:52 - Andy's Sweatshirt: Triple-Digit Silver3:19 - Clarification on Shanghai VAT Tax5:23 - Driving Factors of Shanghai Premium9:18 - China's Long-Term Resource Strategy12:42 - Update on Delivery Flows15:45 - Gold Deliveries Analysis19:31 - Silver Withdrawals Exceeding Deliveries23:25 - Potential Sovereign Buyers26:44 - Market Correction Engineering31:19 - Where Withdrawn Metal is Going35:14 - Gold and Silver Rally Outlook39:35 - Luke Gromen's Debt Crisis View44:40 - Gold Revaluation and Dollar Devaluation50:41 - Genius Act and Stablecoins55:58 - Central Bank Digital Currencies1:00:00 - Taxable vs Tax-Advantaged Accounts1:05:33 - Reporting Requirements for Sales1:10:11 - Exclusive Junk Silver Offer Update1:15:22 - Practical Buying Advice_____________________________________________Thoughtful Money LLC is a Registered Investment Advisor Promoter.We produce educational content geared for the individual investor. It's important to note that this content is NOT investment advice, individual or otherwise, nor should be construed as such.We recommend that most investors, especially if inexperienced, should consider benefiting from the direction and guidance of a qualified financial advisor registered with the U.S. Securities and Exchange Commission (SEC) or state securities regulators who can develop & implement a personalized financial plan based on a customer's unique goals, needs & risk tolerance.IMPORTANT NOTE: There are risks associated with investing in securities.Investing in stocks, bonds, exchange traded funds, mutual funds, money market funds, and other types of securities involve risk of loss. Loss of principal is possible. Some high risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including a greater volatility and political, economic and currency risks and differences in accounting methods.A security's or a firm's past investment performance is not a guarantee or predictor of future investment performance.Thoughtful Money and the Thoughtful Money logo are trademarks of Thoughtful Money LLC.Copyright © 2026 Thoughtful Money LLC. All rights reserved.

Did you receive a bonus from your bank in cash? Will this be deemed taxable by the IRS? Let's dive into it! Do you have unfiled tax returns that need filing? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit:   / taxrelief  Mentioned Video Link: -Are Credit Card Rewards Taxable?:    • Are Credit Card Rewards Taxable?   

It's Q&A Wednesday: You ask 'em, we'll answer—and today's episode covers the questions investors actually wrestle with when markets get noisy. Lance Roberts & Danny Ratliff start with a preview of upcoming economic reports and what recent data may be signaling about slowing growth and the next bout of market volatility. From there, we dig into real portfolio decisions—especially for investors heading into retirement—including how to think about allocation changes, managing risk, and avoiding the behavioral traps that derail long-term outcomes. Lance & Danny also hit the big evergreen topics: recency bias, whether there's truly a “one stock to own forever,” what buffered ETFs do (and don't) protect you from, and the mechanics behind the bond yield / interest-rate relationship. We also tackle timely portfolio choices like metals, tax-deferred vs. taxable accounts, seasonality, foreign currency trades, and how to invest in individual bonds. We wrap with practical tradeoffs around high-yield savings, the reality of beating the market consistently, and a broader discussion on growth modeling—plus a curveball question: Is AI going to take our jobs? 0:00 - INTRO 0:19 - Economic Reports Preview: More Weakness? 4:59 - Markets Do What They Do - More Volatility? 11:04 - How Should I Change My Portfolio Going Into Retirement? 17:48 - Dealing with Recency Bias 21:04 - The One Stock to Own Forever 24:20 - The Thing About Buffered ETF's 28:19 - Inverse Relationship Between Bond Yields vs Interest Rates 34:10 - Metals: Selling Today? 35:50 - Tax-deferred vs Taxable brokerage Accounts 39:16 - Using Seasonality When Investing 40:48 - Dealing with Foreign Currency Trades 44:00 - How to Invest in Individual Bonds? 47:01 - The Pro's & Con's of High Yield Savings 48:11 - Do You Consistently Beat the Market? 53:36 - Defining Magnitude and Modeling Growth 55:31 - Is AI Going to Take Our Jobs? Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO, w Senior Investment Advisor, Danny Ratliff, CFP Produced by Brent Clanton, Executive Producer ------- Register for our next Candid Coffee, 2/21/26: https://streamyard.com/watch/Wq3Yvn9ny5GV ------- Watch Today's Full Video on our YouTube Channel: https://www.youtube.com/watch?v=6sI0zNQTCyE&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1 ------- Articles Mentioned in Today's Show: "Seasonality: Buy Signal And Investing Outcomes" https://realinvestmentadvice.com/resources/blog/seasonality-buy-signal-and-investing-outcomes/ "Technology Stocks: Dead Or An Opportunity?" https://realinvestmentadvice.com/resources/blog/technology-stocks-dead-or-an-opportunity/ ------- Watch our previous show, "Duct Tape & WD-40 Your Portfolio Together," here: https://youtube.com/live/EsweZ6GtMvI?feature=share -------- The latest installment of our new feature, Before the Bell, "Market Rotation Keeps Stocks Flat," is here: https://youtu.be/8iyhck2LBpY ------- Visit our E-book Library (no library card required!) https://realinvestmentadvice.com/ria-e-guide-library/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #MarketOutlook #SectorRotation #TreasuryYields #Volatility #QandAWednesday #RetirementInvesting #MarketVolatility #BondMarket #TaxPlanning

It's Q&A Wednesday: You ask 'em, we'll answer—and today's episode covers the questions investors actually wrestle with when markets get noisy. Lance Roberts & Danny Ratliff start with a preview of upcoming economic reports and what recent data may be signaling about slowing growth and the next bout of market volatility. From there, we dig into real portfolio decisions—especially for investors heading into retirement—including how to think about allocation changes, managing risk, and avoiding the behavioral traps that derail long-term outcomes. Lance & Danny also hit the big evergreen topics: recency bias, whether there's truly a "one stock to own forever," what buffered ETFs do (and don't) protect you from, and the mechanics behind the bond yield / interest-rate relationship. We also tackle timely portfolio choices like metals, tax-deferred vs. taxable accounts, seasonality, foreign currency trades, and how to invest in individual bonds. We wrap with practical tradeoffs around high-yield savings, the reality of beating the market consistently, and a broader discussion on growth modeling—plus a curveball question: Is AI going to take our jobs? 0:00 - INTRO 0:19 - Economic Reports Preview: More Weakness? 4:59 - Markets Do What They Do - More Volatility? 11:04 - How Should I Change My Portfolio Going Into Retirement? 17:48 - Dealing with Recency Bias 21:04 - The One Stock to Own Forever 24:20 - The Thing About Buffered ETF's 28:19 - Inverse Relationship Between Bond Yields vs Interest Rates 34:10 - Metals: Selling Today? 35:50 - Tax-deferred vs Taxable brokerage Accounts 39:16 - Using Seasonality When Investing 40:48 - Dealing with Foreign Currency Trades 44:00 - How to Invest in Individual Bonds? 47:01 - The Pro's & Con's of High Yield Savings 48:11 - Do You Consistently Beat the Market? 53:36 - Defining Magnitude and Modeling Growth 55:31 - Is AI Going to Take Our Jobs? Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO, w Senior Investment Advisor, Danny Ratliff, CFP Produced by Brent Clanton, Executive Producer ------- Register for our next Candid Coffee, 2/21/26: https://streamyard.com/watch/Wq3Yvn9ny5GV ------- Watch Today's Full Video on our YouTube Channel: https://www.youtube.com/watch?v=6sI0zNQTCyE&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1 ------- Articles Mentioned in Today's Show: "Seasonality: Buy Signal And Investing Outcomes" https://realinvestmentadvice.com/resources/blog/seasonality-buy-signal-and-investing-outcomes/ "Technology Stocks: Dead Or An Opportunity?" https://realinvestmentadvice.com/resources/blog/technology-stocks-dead-or-an-opportunity/ ------- Watch our previous show, "Duct Tape & WD-40 Your Portfolio Together," here: https://youtube.com/live/EsweZ6GtMvI?feature=share -------- The latest installment of our new feature, Before the Bell, "Market Rotation Keeps Stocks Flat," is here: https://youtu.be/8iyhck2LBpY ------- Visit our E-book Library (no library card required!) https://realinvestmentadvice.com/ria-e-guide-library/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #MarketOutlook #SectorRotation #TreasuryYields #Volatility #QandAWednesday #RetirementInvesting #MarketVolatility #BondMarket #TaxPlanning

In this episode we talk through big money topics like cash balance plans, revocable trusts, and what peak spending years really means and when it happens. We talk about where non-docs should start if they are new to White Coat Investor content. Dr. Dahle talks about a recent posts that got some people fired up when he shared his opinion that if doctors do not retire with millions they have failed financially. This podcast is sponsored by Bob Bhayani at Protuity. He is an independent provider of disability insurance planning solutions to the medical community in every state and a long-time white coat investor sponsor. He specializes in working with residents and fellows early in their careers to set up sound financial and insurance strategies. If you need to review your disability insurance coverage or to get this critical insurance in place, contact Bob at https://whitecoatinvestor.com/protuity today by email info@protuity.com or by calling (973) 771-9100. The White Coat Investor Podcast launched in January 2017, and since then, millions have downloaded it. Join your fellow physicians and other high income professionals and subscribe today! Host, Dr. Jim Dahle, is a practicing emergency physician and founder of The White Coat Investor blog. Like the blog, The White Coat Investor Podcast is dedicated to educating medical students, residents, physicians, dentists, and similar high-income professionals about personal finance and building wealth, so they can ultimately be their own financial advisor-or at least know enough to not get ripped off by a financial advisor. We tackle the hard topics like the best ways to pay off student loans, how to create your own personal financial plan, retirement planning, how to save money, investing in real estate, side hustles, and how everyone can be a millionaire by living WCI principles. Website: https://www.whitecoatinvestor.com  YouTube: https://www.whitecoatinvestor.com/youtube  Student Loan Advice: https://studentloanadvice.com  TikTok: https://www.tiktok.com/@thewhitecoatinvestor  Facebook: https://www.facebook.com/thewhitecoatinvestor  Twitter: https://twitter.com/WCInvestor  Instagram: https://www.instagram.com/thewhitecoatinvestor  Subreddit: https://www.reddit.com/r/whitecoatinvestor  Online Courses: https://whitecoatinvestor.teachable.com  Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter 00:00 WCI Podcast #457 01:41 Investing in Taxable vs. Cash Balance Plans 04:25 Setting Up a Cash Balance Plan 11:55 Are You a Bad Doctor If You Care About Money? 19:22 Revocable Trusts 25:00 Peak Spending Years 29:17 WCI for Non-Doctors

Questions? Comments?Don and Tom take on Elon Musk's claim that AI will make retirement saving obsolete, pushing back hard on the idea that technology or billionaires will somehow fund everyone's future. They examine why universal basic income is politically and mathematically unrealistic, remind listeners that past tech revolutions didn't magically create widespread wealth, and reinforce the importance of steady, diversified investing. The episode also tackles listener questions on HSAs, 529 rollovers, taxable account strategy, and tax efficiency, while weaving in commentary on work, purpose, behavior, and—once again—the ongoing menace of gas-powered leaf blowers.0:04 Fear of AI and its supposed impact on money and jobs1:52 Elon Musk's claim that retirement saving will become irrelevant2:59 Why billionaires don't like sharing wealth4:29 Historical tax rates and wealth distribution6:21 Business Insider survey: 94% still plan to save8:45 Why tech revolutions don't eliminate financial risk9:59 Work, purpose, and retirement psychology10:33 Universal basic income math and tax reality11:54 Luddites and historical job displacement12:55 Listener questions segment begins13:18 HSA invested in Fidelity target-date fund17:38 Overfunded 529 plans and Roth rollover rules20:45 Taxable account strategy and balanced funds23:28 Asset location and tax efficiency24:49 Finding fund returns on Morningstar25:46 Tom's Scottsdale meetings26:45 War on gas-powered leaf blowersLearn more about your ad choices. Visit megaphone.fm/adchoices

Don and Tom take on Elon Musk's claim that AI will make retirement saving obsolete, pushing back hard on the idea that technology or billionaires will somehow fund everyone's future. They examine why universal basic income is politically and mathematically unrealistic, remind listeners that past tech revolutions didn't magically create widespread wealth, and reinforce the importance of steady, diversified investing. The episode also tackles listener questions on HSAs, 529 rollovers, taxable account strategy, and tax efficiency, while weaving in commentary on work, purpose, behavior, and—once again—the ongoing menace of gas-powered leaf blowers. 0:04 Fear of AI and its supposed impact on money and jobs 1:52 Elon Musk's claim that retirement saving will become irrelevant 2:59 Why billionaires don't like sharing wealth 4:29 Historical tax rates and wealth distribution 6:21 Business Insider survey: 94% still plan to save 8:45 Why tech revolutions don't eliminate financial risk 9:59 Work, purpose, and retirement psychology 10:33 Universal basic income math and tax reality 11:54 Luddites and historical job displacement 12:55 Listener questions segment begins 13:18 HSA invested in Fidelity target-date fund 17:38 Overfunded 529 plans and Roth rollover rules 20:45 Taxable account strategy and balanced funds 23:28 Asset location and tax efficiency 24:49 Finding fund returns on Morningstar 25:46 Tom's Scottsdale meetings 26:45 War on gas-powered leaf blowers Learn more about your ad choices. Visit megaphone.fm/adchoices

The One Big Beautiful Bill Act (OBBBA), approved July 4, 2025, made various significant changes to the low-income housing tax credit (LIHTC) incentive. Among key changes, the OBBBA lowered the threshold for private activity bond (PAB) financing required to qualify for 4% LIHTCs from 50% of a development's land and building costs to 25%. On this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Dirk Wallace, CPA, explore how this change is affecting financing for affordable housing development. Novogradac and Wallace provide an overview of the 25% test and PABs, including recycled PABs. The pair also discuss how states are implementing the 25% financed-by test, as well as the ways developers are overcoming the financing gap the new test created. Finally, Novogradac and Wallace conclude by discussing how to maximize net operating income (NOI) by approaching operating expenses as efficiently as possible.

As the calendar turns to 2026, Bill and Andy Bush kick off the new year by breaking down key changes affecting higher-income 401(k) participants—most notably the new SECURE 2.0 rules requiring Roth catch-up contributions for certain earners. They unpack who the rules apply to, how they intersect with other income thresholds, and why many six-figure earners still feel behind despite strong incomes. Along the way, the brothers share practical New Year's resolutions that actually move the needle: optimizing (not just maxing) your 401(k), improving tax efficiency, managing emotions, reducing complexity, and defining what "enough" really means so your money supports both your future and your life today.   ⏱ Episode Timeline & Key Topics 00:08 – Welcome & Happy New Year Bill and Andy kick off the first episode of 2026, reflecting on the new year and why this episode revisits financial "reset" themes—especially for higher-income participants. 00:45 – Why This Episode Matters Right Now The brothers recap last year's New Year–focused episode and explain why 2026 brings new wrinkles in the 401(k) world that deserve attention. 01:15 – SECURE 2.0 Roth Catch-Up Rule Explained Introduction of the new rule requiring Roth catch-up contributions for certain high earners: Age 50+ Prior-year wages of $150,000+ Catch-up contributions must be Roth (after-tax) 02:30 – Who Is (and Isn't) Subject to the Rule Clarification on: W-2 wages (Box 3) Why K-1 partners without W-2 income are exempt Catch-ups are still allowed—just not required to be Roth for exempt participants 03:45 – Implementation Challenges & Plan Decisions Discussion on delayed rollout, transition relief, and why some plans chose to eliminate catch-ups rather than add Roth complexity. 04:10 – Super Catch-Up Contributions (Ages 60–63) Overview of the enhanced "super catch-up": $11,250 limit for ages 60–63 What happens when you turn 64 Why planning matters during this short window 04:55 – Three Different "High Income" Definitions Breaking down commonly confused thresholds: $150,000 (Roth catch-up rule) $160,000 (Highly Compensated Employee testing) $184,500 (Social Security wage base for 2026) 05:45 – Six-Figure Earners Living Paycheck to Paycheck Why many high earners still feel financially stretched—and how lifestyle expansion plays a major role. 06:45 – Spending vs. Saving: The Real Challenge Why high earners often save well—but still struggle: Lifestyle creep Complex financial lives Income replacement challenges in retirement 08:15 – Roth Trade-Offs for High Earners Pros and cons of being "forced" into Roth catch-ups: Paying taxes now vs. later Short vs. long runways Impact on retirement income planning 09:50 – Retirement Tax Planning & IRMAA Considerations How different account types affect: Medicare IRMAA surcharges Taxable income in retirement Withdrawal flexibility 10:40 – Why HSAs Deserve Special Attention HSAs as one of the most tax-efficient retirement tools—especially for those uncomfortable with Roth catch-ups. 11:30 – Roth vs. Taxable Brokerage Accounts Why Roth accounts offer long-term advantages over taxable investing for money you don't need immediately. 12:30 – Using Roth Assets Strategically Real-world examples: Large one-time expenses in retirement Legacy planning for heirs Flexibility when income spikes matter

Today's episode is all about real estate, straight from the questions you asked during our recent live webinar. We dig into Real Estate Professional Status, short term rental rules, and how the tax benefits actually work across direct properties, syndications, and private funds. We also tackle REITs, including whether target date funds are enough, other Vanguard options beyond VNQ, and where REITs belong in your portfolio from a tax perspective. We also discuss if you really need real estate at all, and how do syndications, funds, and real estate debt compare in the real world. Questions from the Real Estate Webinar: -What does due diligence actually mean? -For the short term rental REP loophole can you still spend more than 100 hours doing a different job, any qualify? -Please go in more detail about short term and opportunity tax loopholes. Any specific resources? -Can the tax benefits of REPs apply to your whole portfolio? ie. direct real estate and private investments? -If you become a real estate professional, for rentals, do you still have to be picked up by a brokerage or can you be the brokerage? -Can you benefit from bonus depreciation to offset your w-2 income in syndications and private real estate funds and does this require REPS? -Are there other REITs with vanguard other than VNQ that may not only include large commercial properties? -If you are going to invest in REITs, where is the best place to purchase those funds? 401? Taxable account? Roth? HSA? -Am I leaving money on the table if I don't invest in real estate in some way? -What are pros & cons of investing in RE Syndication vs Fund vs RE Debt Locumstory.com is a free, unbiased educational resource about locum tenens – it's not a staffing agency. They help answer your questions about the how-to's of locum tenens work on their website, podcast, webinars, videos, and they even have a locums 101 crash course. Locumstory.com is where you should go to find out if locums makes sense for you and your career goals. Locumstory is unique because it's more of a peer-to-peer platform, with real physicians sharing their experiences and stories – both the good and bad – about working locum tenens – hence the name, "Locum-story." See for yourself on their self-service platform with no obligation. The White Coat Investor Podcast launched in January 2017, and since then, millions have downloaded it. Join your fellow physicians and other high income professionals and subscribe today! Host, Dr. Jim Dahle, is a practicing emergency physician and founder of The White Coat Investor blog. Like the blog, The White Coat Investor Podcast is dedicated to educating medical students, residents, physicians, dentists, and similar high-income professionals about personal finance and building wealth, so they can ultimately be their own financial advisor-or at least know enough to not get ripped off by a financial advisor. We tackle the hard topics like the best ways to pay off student loans, how to create your own personal financial plan, retirement planning, how to save money, investing in real estate, side hustles, and how everyone can be a millionaire by living WCI principles. Main Website: https://www.whitecoatinvestor.com  YouTube: https://www.whitecoatinvestor.com/youtube  Student Loan Advice: https://studentloanadvice.com  TikTok: https://www.tiktok.com/@thewhitecoatinvestor  Facebook: https://www.facebook.com/thewhitecoatinvestor  Twitter: https://twitter.com/WCInvestor  Instagram: https://www.instagram.com/thewhitecoatinvestor  Subreddit: https://www.reddit.com/r/whitecoatinvestor  Online Courses: https://whitecoatinvestor.teachable.com  Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter  00:00 WCI Podcast #453 09:27 Due Diligence in Real Estate 14:12 Goodman Capital Interview 24:35 REPS - Real Estate Professional Status 34:26 REITs - Real Estate Investment Trusts 42:06 Should I Invest in Real Estate? 47:22 Real Estate Syndication vs. Equity Fund vs. Debt Fund

Holiday gifts feel generous—but for payroll they're often taxable. In this episode of Payroll Brass Tax, Mike Mahoney (shareholder, Morristown/New York) and Stephen Kenney (associate, Dallas) break down when gifts, gift cards, and raffle prizes count as wages, and how the de minimis fringe benefit rules really work. The speakers also discuss the mechanics of valuation, timing, withholding, and gross-ups to help employers avoid audit surprises and keep the season compliant.

Quint and Allie talk through saving in a brokerage account or a Roth account. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Today's episode tackles a handful of questions that come up often for high-income professionals planning for the future. We dig into how to optimize your retirement accounts and take advantage of key tax benefits, explore how cash balance plans work inside a group practice, and look at whether a target-date retirement fund ever makes sense in a taxable account. We also talk through what to do with your retirement savings over the next year if you won't have access to workplace profit sharing until the end of 2026. Laurel Road is committed to helping residents and physicians take control of their finances. That's why we've designed a personal loan for doctors, with special repayment terms during training. Get help consolidating high-interest credit card debt or fund the unexpected with one low monthly payment. Check your rates in minutes to see if you qualify for a lower rate, plus, White Coat Readers also get an additional rate discount when they apply through https://LaurelRoad.com/WCI For terms and conditions, please visit https://LaurelRoad.com/WCI Disclosures Laurel Road is a brand of KeyBank N.A. All products are offered by KeyBank N.A. Member FDIC. ©2025 KeyCorp® All Rights Reserved. The White Coat Investor has been helping doctors, dentists, and other high-income professionals with their money since 2011. Our free personal finance resource covers an array of topics including how to use your retirement accounts, getting a doctor mortgage loan, how to manage your student loans, buying physician disability and malpractice insurance, asset allocation & asset location, how to invest in real estate, and so much more. We will help you learn how to manage your finances like a pro so you can stop worrying about money and start living your best life. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you! Find 1000's of written articles on the blog: https://www.whitecoatinvestor.com  Our YouTube channel if you prefer watching videos to learn: https://www.whitecoatinvestor.com/youtube  Student Loan Advice for all your student loan needs: https://studentloanadvice.com  Join the community on Facebook: https://www.facebook.com/thewhitecoatinvestor  Join the community on Twitter: https://twitter.com/WCInvestor  Join the community on Instagram: https://www.instagram.com/thewhitecoatinvestor  Join the community on Reddit: https://www.reddit.com/r/whitecoatinvestor  Learn faster with our Online Courses: https://whitecoatinvestor.teachable.com  Sign up for our Newsletter here: https://www.whitecoatinvestor.com/free-monthly-newsletter  00:00 WCI Podcast #448 07:30 Optimizing Retirement Accounts 20:38 Adjusting Risk with a Cash Balance Plan 25:34 Target Retirement Funds in Taxable 30:55 Saving for Retirement in Taxable?

Most federal employees are surprised to learn that up to 85% of their Social Security benefits may be taxable in retirement. In this episode, Floyd Shilanski explains how Social Security taxation really works, what counts as "provisional income," and why proper planning is essential to avoid unexpected tax bills. This is a critical part of federal retirement tax planning, and the earlier you understand it, the better prepared you'll be.  That is why this video is a must-watch for anyone preparing to retire under FERS. https://zurl.co/5RGF3

In our Question Time podcast, Martin Lewis gives you answers on absolutely anything and everything, including: how to get hotel money back on flight cancellations, do investments have the same protection as savings if a provider goes bust, should I stop putting money in my LISA, and what's his favourite type of music?If you want to ask Martin a question, you now can! His Question Time podcast lets you ask Martin absolutely anything and everything (within reason!) – so if you've always wanted to know his favourite city, what he does in his spare time, or have a very complicated question about your finances, email it to MartinLewisPodcast@bbc.co.uk.

✈️ Retire Pilots the Right Way!

Will gold hit $5000 an ounce? With all the excitement surrounding the run up in gold this year it seems to be an easy target. However, as investors pour money into precious metals, such as gold, people have to remember that President Trump has pledged to stimulate the economy through tax cuts. The run up in gold has been due to investors that worry about the future of the dollar and other major currencies. Wall Street has labeled this the debasement trade. The dollar did decline in the first six months of 2025, but it has since stabilized. September saw a record $33 billion invested in exchange traded funds tied to physical gold. The excitement continues for gold buyers, but it is important to remember that normally during uncertain times investors will find safety in dollar denominated assets like treasuries that can push-up the dollar's value. The danger for gold investors is if the narrative shifts, gold could have a major decline. If you look back 165 years to 1860, you will see that gold has other multi-year runs but has consistently had a major bust after those run ups. Investors in gold should also look at what happened in 1979 with a major rally in gold but 3 1/2 years later all the gains accumulated had disappeared. Investors may want to take some of their profits because the higher gold climbs, the bigger the fall could be. In my view, $5000 per ounce for gold is a big gamble.   Great news, more working-class Americans than ever before are in the stock market. That does sound like good news, but then when you dig a little deeper, it is rather scary! 54% of Americans with incomes between $30,000 and $80,000 have taxable investment accounts. There are several reasons for this like no more commissions for trading stocks, the excitement of investing on certain social media sites, and it's so easy to trade stocks now as anyone who has a cell phone can pretty much trade stocks instantaneously. I remember an old saying from years ago that when your barber starts talking to you about stock tips that is the peak of the market. This seems to be where we're at today and unfortunately, these investors have only been investing for probably the last five years and have not experienced any long, lasting declines or turmoil in the markets. Many of these investors are simply trading stocks and don't understand the fundamentals of investing for the long-term. Some of them have experienced very good returns, not because of any specialized knowledge but because of the luck of picking some highflyers that have done well for them in the short term. In many cases, they do not believe it's luck and they feel they now know what they're doing. These investors probably have no idea what the earnings or debt is for the stocks they are trading. They just see that they continue to make money as they buy and sell. It is a shame because many of them are young investors from 25 to 45 years old and a big mistake could cost them years of compounding. Over my 40+ years of working in the investment industry I've heard the same story many times, and it never turns out well. When you try to help them understand how things really work in the investment world, they justify what they're doing with such statements as “this time it is different”. I wish these young investors would understand that investing in stocks and earning a 10% annual return per year is very good. I'm sure many who read this or hear the words I speak think I have no clue what they're doing, and they have a specialized technique that can't fail. When the day comes,  which it will, these investors will be left with a small amount of capital and not much time left to invest because they are now older and closer to retirement. Only then will they realize that their risky trading strategy proved to be nothing more than gambling!   Lower end consumers are having a hard time making their car payments With the rising cost of cars and higher interest rates, lower end consumers are falling behind on their car payments, and the numbers are starting to get a little scary. 14% of new cars that were sold to people had a credit score under 650, this is the highest percent going back to 2016. People seem to be getting in over their head as subprime loans that are 60 days or more overdue are at a record 6% this year. The number of repossessed vehicles is also climbing to a record not seen in 16 years to an estimated 17.3 million repossessed vehicles. Some consumers overbought a car probably due to a good salesperson and that new car smell that sometimes is hard to resist. Some consumers are starting to regret their new car purchase considering the average car payment is around $750 and 20% of loans and new leases are over $1000 a month. We will continue to watch this indicator along with others to verify that we are only seeing a slowdown of growth in the economy, rather than a declining economy. It's important to remember to be careful where you invest. It appears that some of these subprime loans for cars ended up in private loan deals that were sold as low risk because of no market fluctuation. The problem here is we are starting to see write-downs from publicly traded banks for bad loans and with private credit you might not know there is a problem until it's too late since they don't have to disclose the same info as these publicly traded companies.    Financial Planning: Upgrade Your Emergency Fund to an Emergency Plan When paychecks stop, as many federal employees are currently experiencing, having an emergency plan with multiple layers of liquidity is essential. The first line of defense is your credit card. When used strategically, it can buy you up to two months of interest-free spending since no interest accrues until after the statement due date. However, you don't want to carry a balance beyond that point. Next comes cash reserves, ideally kept in a high-yield Treasury bill money market fund, where your money earns competitive interest while avoiding state tax. Beyond cash, having credit lines such as a HELOC provides deeper, low-cost access to capital without forcing you to liquidate investments. These can take a couple of months to establish, and since they generally don't have origination fees, it's best to set them up before you need them. After that, investment accounts can serve as a secondary safety net. Taxable accounts may generate capital gains, but withdrawals are unrestricted. Roth IRA contributions can be withdrawn tax- and penalty-free at any age, and HSA accounts can issue reimbursements for qualified medical expenses incurred in prior years. In a true last-resort scenario, you can even access retirement funds through a 60-day rollover, temporarily using the cash before redepositing it. By layering these tools, from credit to cash to credit lines to investments, you build a structured, flexible liquidity plan that can withstand extended income disruptions and operate far more efficiently than simply keeping 12 months of expenses in a savings account. Companies Discussed: Ferrari (RACE), Papa John's International, Inc. (PZZA) Salesforce, Inc. (CRM) & Eli Lilly and Company (LLY)  

#651: Many who reach CoastFI find themselves in a strange in-between: financially independent enough to stop saving, but not ready to fully retire. When you're living off a taxable brokerage for decades, does the “never hold bonds in taxable” rule still apply? This episode explores how traditional asset location advice meets real-life spending. We unpack how to balance growth, taxes, and stability when your taxable account becomes your paycheck. Then we shift to two more listener dilemmas: helping a parent retire through shared home ownership, and using covered-call strategies to earn income from a stock-heavy portfolio. Listener Questions in This Episode Brandon (1:28): “I'm CoastFI and will withdraw from my taxable account for the next 20 years. Should I hold bonds in taxable, or keep it all in stocks?” Brandon's retirement accounts can grow untouched, but his taxable brokerage will fund two decades of living expenses. The classic rule says avoid bonds in taxable, yet Paula explains why that advice isn't universal. When your taxable account funds your life, it needs to act as a complete portfolio. We discuss how to balance risk, prioritize liquidity, and plan your glidepath into CoastFI life. Andrew (22:07): “My spouse and I co-own a home with my mother-in-law. How can we help her retire without creating family tension?” We explore fair, flexible ways to support an aging parent while keeping relationships healthy. Paula explains how to design a win-win deal and why seller financing can help balance cash flow and peace of mind. Chandan (49:16): “Can covered-call ETFs help me generate income from my stock portfolio and RSUs?” We explain how covered calls work, what “covered” really means, and the tradeoff between steady income and limited upside. For those with concentrated stock positions, Paula shares when covered calls make sense—and when simpler plans win. Key Takeaways The “no bonds in taxable” rule isn't universal. When you're drawing solely from taxable accounts for many years, that account needs to function as its own mini-portfolio, including bonds or cash for stability. Asset location follows purpose, not dogma. Tax efficiency matters, but liquidity and risk management take priority when the account funds your life. Think in terms of buckets. Your retirement accounts can stay growth-oriented while your taxable account carries the ballast for spending. Plan ahead for rebalancing. When taxable balances decline, know how and when to refill your bond/cash sleeve from other sources to keep your glidepath intact. The transition to CoastFI is a mental shift. You're no longer optimizing for maximum returns, you're designing for peace of mind and steady withdrawals. Chapters Note: Timestamps are approximate and may differ across listening platforms due to dynamically inserted ads. (01:28) Brandon's CoastFI question: bonds in taxable when withdrawals start now (03:56) Why “no bonds in taxable” is a rule of thumb, not a law (12:42) How to treat taxable as a stand-alone portfolio (18:31) Balancing tax efficiency with cash-flow reality (25:26) Helping a parent retire through shared property ownership (01:05:40) Options: Buying or selling with Options (01:07:07) Covered calls explained simply, income with a ceiling Resources & Links Asset Location Cheat Sheet (free): affordanything.com/assetlocation Guide to Double-I FIRE (free): affordanything.com/fiire Learn more about your ad choices. Visit podcastchoices.com/adchoices

Joe and Big Al spitball on how to avoid screwing up the timing of your Roth conversions, today on Your Money, Your Wealth® podcast number 550. Barrie from New York is 62 and single, and she's been diligently converting pre-tax money each year for lifetime tax-free Roth growth. Should she continue after she retires next year?  “Jerry and Elaine” want to retire in the next six years and still leave the kids an inheritance. When should they start Roth conversions? Alex in Pennsylvania is a 31-year-old software engineer. Should he convert his IRA to Roth all at once? Plus, how can he transition into a career as a financial planner? A clarification on the age plus 20 rule of thumb for retirement contributions from one of our YouTube viewers is very un-clarified for Joe, and the fellas let Lisa in San Diego know whether she can use her rental real estate income to fund a Roth 401(k). Free Financial Resources in This Episode: https://bit.ly/ymyw-550 (full show notes & episode transcript) Ultimate Guide to Roth IRAs 6 Signs You Truly Have “Enough” for Retirement - YMYW TV Financial Blueprint (self-guided) Financial Assessment (Meet with an experienced professional) REQUEST your Retirement Spitball Analysis DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Connect With Us: YouTube: Subscribe and join the conversation in the comments Podcast apps: subscribe or follow YMYW in your favorite Apple Podcasts: leave your honest reviews and ratings Chapters: 00:00 - Intro: This Week on the YMYW Podcast 00:55 - Should I Keep Converting $20K a Year in Retirement? (Barrie, NY) 07:17 - Can We Retire at 62 and Still Leave an Inheritance? Roth Conversion Strategies for Big Accounts (Jerry & Elaine, KS) 17:05 - I'm 31. Should I Convert $57K Now or Spread It Out? (Alex, PA) 29:12 - Roth Conversion Timing Before Retirement (Mike, Philly Suburbs) 36:49 - Confused About Roth Withdrawal Rules at 60 (Lisa, Omaha NE) 40:05 - Clarification on the Age + 20 Rule of Thumb for Contributions (Matt, YouTube) 45:40 - Can Rental Property Income Fund a Roth 401(k)? (Lisa, San Diego) 47:24 - Outro: Next Week on the YMYW Podcast

Do you have to pay tax on tenant relocation assistance money from the city? Here are my thoughts! Do you have unfiled tax returns that need filing? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit:   / taxrelief   

Emergency crews remain on the scene of a partial building collapse in the Bronx after a 20-story ventilator shaft gave way at the Mitchel Houses. Officials are also investigating a potential gas leak. Meanwhile, New Yorkers who receive state rebate checks of up to $400 will need to pay federal income tax on them next year. And Open House New York returns in October with its biggest weekend ever, offering access to 341 normally off-limits locations across the city. WNYC's Ryan Kailath has more.

You've heard Joe and Big Al talk about the benefits of tax diversification in retirement. That is, having money in tax-deferred, tax-free, and taxable accounts. But what should you do if this tax triangle of yours is lopsided? Joe and our special guest co-host, Marc Horner, CFP®, spitball on this quandary for Rae and Roy in Central California, today on Your Money, Your Wealth® podcast number 544. Plus, do Rae or Roy need to get a part-time job? Also, "Elwood Blues" in Illinois would like to retire in two years, but is willing to go for 3 more to make his retirement plan work. Joe and Marc spitball on when "Elwood" can really put down that harmonica. Free financial resources & episode transcript: https://bit.ly/ymyw-544 Complete the 8th Annual YMYW Podcast Survey by 5pm Pacific on August 31, 2025, for your chance at a $100 Amazon e-gift card! (secret password: ymyw) WATCH 15 Maneuvers to Duck an Unplanned Early Retirement Knockout on YMYW TV CALCULATE your free Financial Blueprint ASK Joe & Big Al for your Retirement Spitball Analysis SCHEDULE your Free Financial Assessment LEAVE YOUR HONEST RATINGS AND REVIEWS on Apple Podcasts SUBSCRIBE or FOLLOW on your favorite podcast app JOIN THE CONVERSATION on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast with Joe Anderson, CFP® and Marc Horner, CFP® 00:49 - Our Tax Triangle is Lopsided. Should One of Us Get a Part-Time Job? (Rae and Roy, Central CA) 12:03 - Watch 15 Maneuvers to Duck an Unplanned Early Retirement Knockout, Calculate your Financial Blueprint, Schedule a Financial Assessment 13:11 - I'd Like to Retire in 2 Years. Willing to Work 3 More to Make it Work (Elwood Blues, IL) 27:10 - Next Week on YMYW Podcast: The One Big Beautiful Bill + More 27:40 - YMYW Podcast Outro

In this episode of "Beer and Money," Ryan Burklo explores why many people feel financially stressed despite having significant retirement savings. He highlights the importance of taxable brokerage accounts in providing financial flexibility and reducing stress. Check out our website:  beerandmoney.net For a quick assessment of your current financial life go to: https://www.livingbalancesheet.com/lbsVision/lite/RyanBurklo TAKEAWAYS Many individuals feel financially constrained because their savings are tied up in retirement accounts. Taxable brokerage accounts offer liquidity and flexibility, allowing access to funds without penalties. Balancing retirement savings with liquid investments can reduce financial stress and improve quality of life. Properly structured taxable accounts can offer tax advantages through long-term capital gains. CHAPTERS 0:00 - 0:45: Ryan introduces the topic and common financial stressors. 0:46 - 1:30: Discussion on why retirement accounts alone may not suffice 1:31 - 2:45: Exploring the flexibility and advantages of taxable accounts 2:46 - 3:30: How to achieve a financial balance for reduced stress 3:31 - 4:14: Final thoughts and where to find more information  

In this conversation on "TAX ALPHA", Frazer Rice and BRENT SULLIVAN (of TAX ALPHA INSIDER) delve into the complexities of tax awareness in investing, focusing on capital gains, income tax, and various strategies for tax efficiency. They discuss the importance of tax loss harvesting, the challenges of managing concentrated portfolios, and the implications of estate planning. The conversation emphasizes the need for advisors and trustees to understand these strategies to optimize tax outcomes for their clients. https://youtu.be/pCIXFq4YoS0 Outline of Tax Alpha Quick Overview of Tax Rates Ordinary vs Capital Gain (Usually Income vs Asset based taxation) Short Term vs Long Term (Long Term Treatment) (we'll talk about Estate Later) Federal vs State (Can be important!) Netting Losses/Deductions vs Gains and Income Owning assets Taxable vs Non-Taxable vehicles https://open.spotify.com/episode/3uL924aOlPd2hgmC9s7KCI?si=hBS09OKDTd-uHhT8PAj7aA Tax Alpha in stock investing (Universe) Long Only Concentrated Positions Timing – Getting LT Capital Gain treatment Basis – increasing basis Exchange / 351 Funds to defer and diversify Dramatic foreshadowing with step-up later in estate context Blind Trusts for political appointees Diversified Positions Passive (Lower Cost, acceptable returns, “lower risk/tracking error”) Active (Now frowned upon – except in the after tax world w/ TLH) Deferral Carve-Outs like QOZ's Tax Lost Harvesting Owning an index vs owning a sample of the index Buying Coke and selling pepsi Wash Rules Loss Carry Forwards Capital Losses / Not Ordiany Losses Amplified Tax Loss Harvesting Own the sample of Index AND Borrow off those holdings to create long and short positions to generate capital losses while having beta of 1 Trends: Pre-Liquidity Event planning Storing Losses for the bulky sale Timing the event(s) to have the losses line up with the gains Pre-Diversification planning Pre Death Planning Integrating the Estate Planning with the Income/ Cap Gains Planning Step-Up Avoiding Estate Tax, But Prolonging the Cap Gains Tax exposure (and concentration risk?) Grantor Tax status and he swap power How does turbo charged loss creation look in an estate environment? Trustee/ Executor and Fiduciary / Beneficiary risk issues Vehicle evolution Funds SMA's 351 and other ETF vehicles (+/-‘s) PPLI,PPVA How did you develop this expertise? How do we find you? Transcript of Tax Alpha Frazer Rice (00:01.122)Welcome aboard, Brent. Brent Sullivan (00:03.035)Well, happy to be here, Fraser. Frazer Rice (00:04.558)It's fun to chat in person. I've been following it to call a blog I don't think gives it the proper respect because I think you're uncovering a lot of great information for advisors like me and wealthy people and other people generally speaking in terms of Really getting going on the tax alpha end of it Let's start a little bit with some basics because I think you know for someone new to the concept of Being particularly tax aware in terms of investing taxes can be, they're more than just income tax, that's for sure. How do you think about it? How do you get your framework around what people are trying to avoid when they're dealing with their investable portfolios? Brent Sullivan (00:45.723)Yeah, I mean, there are really just a couple of different ways to break it down, but I probably start with the concept of a capital gain as a distinct thing from income tax. so capital gains come in really like four different flavors. There's short-term capital gains, short-term capital losses, and then long-term capital gains, long-term capital losses. And then these things are different if you have collectibles or other types of instruments too. But the point is here that you've got those four quadrants that you're always sort of operating in.

Send us a textOptimizing Your Taxable Brokerage Account: Key Strategies for Financial IndependenceIn this episode of The Retire Early Retire Now podcast, host Hunter Kelly, a certified financial planner and founder of Palm Valley Wealth Management, delves deep into the intricacies of optimizing taxable brokerage accounts. He outlines five crucial strategies for maximizing these accounts, emphasizing the importance of aligning investments with goals and time horizons, understanding the tax implications of trades, optimizing asset locations, focusing on low-cost funds, and planning for rebalancing and tax-loss harvesting. Hunter also provides real-life examples and actionable tips for investors at various stages, from beginners to seasoned investors. Tune in to learn how to make your taxable brokerage account work for you and help achieve financial independence.00:00 Introduction to Taxable Brokerage Accounts02:06 Clarifying Goals and Time Horizons06:20 Understanding Tax Implications11:18 Optimizing Asset Location15:43 Managing Costs and Fees17:23 Rebalancing and Tax Loss Harvesting22:23 Conclusion and Final ThoughtsCheck out the Palm Valley Wealth Management WebsitePalmValleywm.comCheck us out on InstagramLinkedIn FacebookListen to the Podcast Here! AppleSpotify

Hello all,    I recently had cataract surgery in both eyes, and my eyes get tired if I look at the computer too long.  I need to take breaks while recovering. Instead of discussing shared and individual LTC annuities this week, I need to share an episode that was aired last summer. This will remind you how LTC annuities can help both protect your family if you need extended care and also eliminate all those gains on your non-IRA annuities you've been holding on to because you don't want to pay more in taxes.   LTC annuities have very few health questions and are more easily approved.   Schedule with me to learn how you can avoid sharing your annuity earnings with Uncle Sam.

This week on the Retirement Quick Tips Podcast, I'm talking about savings optimization. How should you prioritize your savings in 2025, saving the right accounts in the right order to get to better financial stability and long-term flexibility.  If you haven't been listening to each episode in order this week, I suggest going back because each episode is like a step on a ladder. You can't skip a step, and it's important to get the right priorities.  Once everything else is taken care of, then last step on the ladder is what to do with additional money you have left to save.  You're emergency fund and cash savings are where they should be. You're saving in your 401k and you're on track for where you need to be at this age for retirement, you have no debts other than your mortgage, and you don't have any other big goals like saving for kids college or a remodel project, or a big vacation coming up that you need to earmark some savings for. You're in a great spot financially, so what's next? At this point it all comes down to personal preference.

Episode Summary: Taxable brokerage accounts are often overlooked but are essential for building wealth and achieving early retirement. Brad Barrett and Cody Garrett highlight their flexibility, tax advantages, and strategic value. Cody Garrett provides insights on how to effectively navigate these accounts, dismantling common misconceptions while sharing actionable strategies. Key Takeaways: Understanding the definition and benefits of taxable brokerage accounts. The flexibility of contributions and investment options. Tax optimization strategies, including long-term capital gains and tax loss harvesting. The importance of asset location for tax efficiency. How to navigate the rules around gifting and estate planning regarding taxable accounts. Timestamps: 00:02:00 - Defining Taxable Accounts 00:10:30 - Investment Opportunities and Options 00:11:30 - Tax Benefits and Treatments 00:25:00 - Best Investment Types for Taxable Accounts 00:48:00 - Conclusion and Action Steps Main Discussion Topics: Introduction to Taxable Brokerage Accounts (00:00:00) The hosts introduce the episode's focus on taxable brokerage accounts as crucial but often ignored tools in financial strategy. Defining Taxable Accounts (00:02:00) A taxable brokerage account is described as a non-retirement account where investment income is taxed in the year it is earned, providing the flexibility of access and lack of penalties. Investment Opportunities and Options (00:10:30) Taxable accounts allow unlimited contributions with various investment opportunities that traditional retirement accounts may restrict. This includes stocks, ETFs, mutual funds, and even cryptocurrencies. Tax Benefits and Treatments (00:11:30) Earnings from dividends and long-term capital gains are subject to preferential tax rates, significantly benefiting investors. Discussion on tax strategies to minimize liabilities while maximizing income. Best Investment Types for Taxable Accounts (00:25:00) U.S. stock index funds are highlighted as optimal investments for taxable accounts due to their lower tax implications on dividends compared to foreign stocks. Conclusion and Action Steps (00:48:00) The episode wraps up with actionable steps for listeners, emphasizing the advantage of maximizing contributions to taxable accounts, especially after maxing out retirement accounts. Actionable Takeaways: Maximize contributions to your taxable brokerage account once you hit contribution limits for retirement accounts. (00:47:00) Consider holding U.S. stock index funds in taxable accounts for favorable tax treatment. (00:25:00) Utilize specific share identification methods for selling investments to optimize tax outcomes. (00:17:20) FAQs: What is a taxable brokerage account? A non-retirement account where investment earnings are taxed in the year they are earned. (00:02:30) What are the main advantages of a taxable brokerage account? Unlimited contributions, diverse investment options, and favorable tax treatment on capital gains and qualified dividends. (00:11:30) How are earnings taxed in a taxable account? Earnings are taxed in the year they are realized, which includes dividends and capital gains distributions. (00:03:00) Are there any penalties for early withdrawal from a taxable account? No penalties apply, offering flexibility compared to traditional retirement accounts. (00:34:00) Key Quotes: "Success comes with a price: don't let your money sit idle in a checking account." (00:06:00) "Prioritize earning over worrying about taxes." (00:06:16) "Taxable accounts can offer significant tax advantages." (00:11:32) "Don't let the tax tail wag the dog." (00:29:59) Related Resources: Measure Twice Money - For more insights on financial strategies. Episode #517: Tax Gain Harvesting Strategies - A detailed discussion on optimizing tax strategies. Cody and Sean's book announcement page Discussion Questions: How can taxable brokerage accounts enhance your investment strategy? What strategies can be implemented to maximize the tax advantages of taxable accounts? How should one decide which types of investments to prioritize in taxable accounts?

Are your points and miles taxable?  In this episode, host DeAndre Coke is joined by CPA Rachel Earl to demystify the often-confusing world where travel rewards and taxes meet. They unpack how the IRS views points earned from credit card sign-up bonuses, referral links, and cashback programs, and clarify when travel rewards might be considered income. The conversation also dives into smart tax planning strategies that can earn you valuable points—like paying estimated taxes by card—and covers key insights around bank bonuses, QuickBooks tracking, and business credit card usage. Rachel shares her professional insights as well as personal travel tips, offering a rare intersection of finance, strategy, and wanderlust. This episode is a must-listen for anyone looking to navigate the financial side of travel rewards with more clarity and confidence.   Key Highlights: Points vs. taxes: Points and miles from sign-up bonuses are not taxable, but referral bonuses may be. IRS guidance: Current IRS rulings on this topic haven't been updated since 2002. Cashback simplicity: Cash back is generally not considered taxable income. Credit card usage: Personal cards can be used for business expenses with proper documentation. IRS priorities: The IRS does not track individual cardholders or card usage patterns. Bank bonuses: These are reported on 1099-INT forms and are treated as interest income. W2 caution: W2 employees should be careful when opening a business entity for points purposes. Estimated tax payments: Can be used to earn points, but risks and limits apply—especially in states like California. Record-keeping: QuickBooks or other tracking tools help streamline expense categorization. Wanderlog for travel: A useful tool for organizing travel plans and expenses.   This episode is sponsored by Saily. Use Code BOLDLYGO for a 15% discount   Resources: Book a Free 30 minute points & miles consultation Start here to learn how to unlock nearly free travel Sign up for our newsletter! This month's best current card offers BoldlyGo Travel With Points & Miles Facebook Group   Interested in Financial Planning? Truicity Wealth Management   Some of Our Favorite Tools For Elevating Your Points & Miles Game: Note: Contains affiliate/sponsored links Card Pointers (Saves the average user $750 per year) Zil Money (For Payroll on Credit Card) Travel Freely Point.me FlightConnections.com Thrifty Traveler Premium LTH Online Points & Miles In Depth Course:  Use coupon code "BOLDYGO" for a 50% discount!   CPA's Footnotes: https://www.irs.gov/pub/irs-drop/a-02-18.pdf https://www.thetaxadviser.com/issues/2021/may/credit-card-rewards-purchases-gift-cards/ (Interesting Tax Court case about how a couple redeemed points and what the Court considered taxable income) https://www.irs.gov/pub/irs-wd/202417021.pdf (This is for those who want to get really nerdy about tax and points) https://www.irs.gov/newsroom/questions-and-answers-on-the-net-investment-income-tax (Resource for those that may want to know more about Net Investment Income Tax)   Connect with DeAndre Coke:  Instagram: BoldlyGo.world TikTok: BoldlyGo.world  Website: BoldlyGo.world YouTube: BoldlyGoWorld YouTube: BoldlyGo.Travels   Connect with Rachel Earl: Instagram: viachoremtax  

Are Credit Card Points Taxable? Run a law firm? Get expert bookkeeping and tax strategy—free consult here: https://bigbirdaccounting.com

Hans and Robby are back again this week with a brand new episode! This week, they discuss taxable, tax deferred, or tax free retirement savings.  Don't forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. Find us on YouTube: Cardinal Advisors.

Send us a textCody Garrett (not to be confused with our good friend, Justin), is a CFP and a regular on the ChooseFI message boards and FB group. By know, most of us know about the Roth IRA, 401(k), 403(b), and 457(b)...but many of us (myself included) have been in the dark about a taxable brokerage account. Cody is here to talk about all the positives of having one of these amazing accounts.  Remember, after you retire, you won't be able to contribute to your workplace 403(b), 457(b) etc. Also, you need EARNED income (pension doesn't count) to still invest into an IRA. Personally, I opened up a taxable brokerage account when the market dipped in COVID and I like to call it my "opportunity fund". It has been a major blessing to our family! https://youtube.com/@measuretwiceplanners?si=QXits06nDhEEWMykhttps://measuretwicefinancial.com/meet-cody/

Issuance for taxable muni's is up 29% compared to the same time last year Follow UsTwitter @NYLInvestmentsTwitter @MacKayMuniMgrsFacebook @NYLInvestmentsLinkedIn: New York Life InvestmentsLinkedIn: MacKay Municipal Managers Presented by New York Life Investmentswww.newyorklifeinvestments.com MacKay Municipal Managers is a team of portfolio managers at MacKay Shields. MacKay Shields is 100% owned by NYLIM Holdings, which is wholly owned by New York Life Insurance Company. “New York Life Investments” is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company.

Summary In this conversation, Sam from Financial Samurai shares insights on wealth building, investment strategies, and the importance of intentional spending. He has a net worth over $10 million. He discusses his journey from a finance career to becoming a successful author and investor, emphasizing the significance of real estate and public equities in his portfolio. Sam also reflects on the mindset shift towards spending and investing in education for his children, culminating in the release of his new book, 'Millionaire Milestones.' Sam shares his insights on building wealth, the importance of compounding, and the milestones necessary for achieving financial independence. He discusses the structure of his book, 'Millionaire Milestones', and emphasizes the significance of saving and investing strategically. Sam also reflects on his personal experiences, aspirations for family travel, and the lessons learned from childhood that shape his financial philosophy. He encourages listeners to be intentional with their finances and to seek knowledge from those who have succeeded before them. Takeaways *Sam's new book focuses on building wealth for freedom. *His net worth grew from $3 million to over $8.5 million. *Diversification in investments is key to financial stability. *Maxing out 401k and Roth IRA is essential for retirement. *Taxable brokerage accounts should be prioritized for flexibility. *Real estate provides stability and utility compared to stocks. *Intentional spending became a focus after age 45. *Investing in education is a valuable long-term investment. *The importance of adapting investment strategies over time. *Sam's journey reflects the balance between saving and enjoying life. The experience of 30 years in finance is invaluable. *It's important to read and learn from others' experiences. *Investment milestones are crucial for financial growth. *Compounding interest significantly increases wealth over time. *Financial independence allows for freedom of expression and action. *Intentional living and travel can enrich family experiences. *Spending should be intentional and meaningful. *Childhood lessons shape financial perspectives. *The journey to wealth requires consistent effort and strategy. *Engaging with mentors can accelerate financial learning. Sponsored by: Indeed Indeed.com/unveiled Shopify Shopify.com/unveiled  

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3035: Darrow Kirkpatrick explores various strategies, from leveraging taxable investment accounts to taking advantage of Roth contributions and employer-based 401(k) rules. With careful planning, it's possible to generate income while preserving long-term financial security. Read along with the original article(s) here: https://www.caniretireyet.com/generating-retirement-income-before-age-59/ Quotes to ponder: "You can withdraw the contributions you made to your Roth at any time, and you pay neither taxes nor penalties." "Taxable accounts are the unsung heroes of retirement saving." "Depending on the timing, this rule could give you more than four years of penalty-free retirement income before reaching age 59-½." Episode references: Oblivious Investor post on the Age 55 Rule: https://obliviousinvestor.com/ How to Access Retirement Funds Early by Mad Fientist: https://www.madfientist.com/how-to-access-retirement-funds-early/ Learn more about your ad choices. Visit megaphone.fm/adchoices