Winning at Life with Gregory Ricks

The Daily Wrap: 09.04.18


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01:12 - Was there a steak in your Labor Day Weekend? Gregory and James review a report on what may be a positive economic indicator: Americans are eating more steak than ever before. Gregory updates you on his quest for the ultimate chicken sandwich recipe.

07:08 - Tropical Storm Gordon is headed for the Gulf Coast, and the radar looks like it's hitting close to Mobile.

9:02 - Scott in Mandeville asks Gregory for guidance on handling his mother's life insurance. Scott is the sole beneficiary on his mom's policy, and he wants all of the money to go to his sister who took care of their mother in her final years. How can you transfer a life insurance payout to a sibling with minimal taxes?

12:06 - A couple was asking Gregory about how the payout on their annuity should be set up. Gregory found the wife will be hit with the Windfall Elimination Provision from her State pension, and they weren't aware they are in a variable annuity.

15:22 - Caller of the Week from Saturday's Winning at Life Weekly Wrap: Charles in Mandeville asks Gregory Ricks how the taxes work if he's going to take an in-kind distribution on stocks from his IRA to settle his Required Minimum Distributions. Gregory explains in pretty deep detail how non-cash property owned by your IRA can cover your Required Minimum Distributions, and figuring the tax hit can be complicated.

24:20 - Jude Heath, CPA of the Total Wealth Authority, calls in to address the earlier question from Charles in Mandeville asking how the taxes on his IRA's in-kind distribution is taxed.

35:01 - You will be floored to hear how many Americans over the ages of 50 and 60 who still carry student loan debt. Gregory shares some sobering statistics on the emerging student loan debt crisis.

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Winning at Life with Gregory RicksBy Winning at Life with Gregory Ricks