The Investor Coaching Show with Paul Winkler

Someone asks Paul and Evan a question about IRA beneficiaries and spousal transfers. Can you do a spousal transfer with other primary beneficiaries? What is the difference between a primary and contingent beneficiary? And how are RMDs calculated with multiple beneficiaries? Paul addresses all of these questions and encourages you to make sure that your IRA beneficiaries are up to date.

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

The harsh reality is that the investing industry is a sales-driven industry. Today, Paul and Evan explain how to navigate a sales industry to get what you need and not just line the pockets of investment companies. It really comes down to this idea: It’s always safer to pay for financial planning from someone who knows and understands your goals, your needs, and your full financial situation than it is to pay for products or people who are pushing a specific strategy or investment vehicle. The advisors get into a conversation about Roth conversions and how easy it is for companies or advisors to get stuck offering the same thing to everyone without offering a thoughtful financial plan. 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

Today, Paul talks about Medicare and Medicare Advantage plans. Listen along to hear why Paul is usually steering people away from Medicare Advantage Plans and some new research that explains their disadvantages.

This week, Paul did some continuing education as a financial planner and bumped into something that wasn’t at all educational, but a sales pitch for a new mutual fund. It turns out that hundreds of billions of dollars are flowing into a new flashy factor-based investment product and Paul isn’t impressed. Unfortunately, the industry is full of this kind of behavior.

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

Today, Paul shares a few different segments that highlight a few things about Bitcoin’s current position in a new Trump regime. Paul wants you to know that most economists still see cryptocurrency as a speculative asset. Despite some rhetoric around legitimizing Bitcoin as a currency, Trump seems much more interested in the power of the dollar over the position of Bitcoin. Paul also talks about the complications of trying to purchase things with Bitcoin and the irony of a currency that isn’t supposed to be beholden to a government then starting to be championed by the world’s largest government.

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

Today, Paul talks about a double standard some Americans have with gambling. The reality is that choosing to invest in a single company is just as risky as placing a bet on your favorite sports game over the weekend. Both are driven by industries that work tirelessly to tell you that gambling is harmless. The problem is that investing seems to be something done by the mature and educated and some don’t even see the double standard of turning their nose up at sports gambling and making moves in their portfolio when they think a company is on the rise.

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

Have you ever found it hard to talk about money with the people closest to you? Well, you are not alone. Studies show that most people have difficulty or avoid talking about money. Paul shares an article from a fellow financial therapist who gives five pieces of advice to help you have financial conversations that could ease pressure on your relationships and help you relax about money. 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

Paul explains why inflation is one of the most important factors to consider when you retire and take an income on your portfolio. Paul dives into the 4% rule and how it factors rising costs into your income. He also helps you understand how much you might need to save to afford your retirement living expenses. Later in the episode, Paul talks about a commonly sold product for retirees, annuities, and how they “guarantee” returns but are a very dangerous strategy because they lose their purchasing power over time.

Around elections this year in the U.S., there was a lot of talk about an increase in taxes for the wealthiest Americans. Although it is tough for some people to admit, the income taxes on income in the U.S. are highly progressive already, and changes for the top 1% of earners and on estates could negatively impact land owners, business owners, and people in their prime earning years. Listen along as Paul talks about how the top 1% of earners already provide nearly double their income share in income taxes. 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

Today, Paul talks about how tax laws around the 10-year rule on inherited IRAs make inheriting this common retirement vehicle more complicated than ever. Paul covers how it’s taken years for tax laws to clarify and catch up with this change and talks about specific rules for taking the RMD in the year that the decedent passed away, how to take the RMD when there are multiple beneficiaries, rules around minors inheriting IRAs, and many other laws that have come in the last few years. It is more important now than ever to seek professional advice in this area. 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.