Winning at Life with Gregory Ricks

The Weekly Wrap: 01.11.20


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01:48 - Financial Football story: the financial backstory of the QBs in the final 8 NFL teams is amazing. None of the starting QBs in the NFC make less than $27 million per year. All of the starting QBs on the 4 AFC teams make less than $5 million per year.

11:00 - Gregory analyzes the dead salary cap space of each NFL team. Not surprisingly, those on the top on that list finished at the bottom of the league.

15:39 - Corporate debt is something that can drag an otherwise healthy company. With the cost of debt so low, companies are incentivized to take on more debt, and they have. Some of these companies will die because of this debt.

23:35 - The SECURE Act made some big changes to the rules on retirement accounts and estate planning. Estate Planning Attorney Wes Blanchard explains which part of your estate plan is affected, and how to get it fixed.

54:04 - Dan in Metairie wants to sell a piece of real estate without his wife's approval. Wes and Gregory agree the answer is: when was the property acquired, how was it acquired, and how is it titled?

55:37 - Mary on Facebook Live asks: does the SECURE Act changes affect the stretch option for my Roth IRA? Gregory confirms the stretch option is gone for her situation, but there's alternative ways to accomplish the same goal.

1:02:19 - Should you take your Required Minimum Distributions from you IRA on a monthly basis or annual lump sum? Liz in Madison just started taking her RMDs, and asks Gregory to explain her options.

1:05:49 - How will taxes work in retirement? Todd in Mandeville has a 401k, IRA, and pension. Counting Social Security and all of his other income streams, how is all that taxed?

1:08:21 - Keith in Thibodaux asks if he can still use the File and Suspend rules for Social Security. Gregory confirms those rules have gone away, and explains how the rules are now.

1:19:30 - James begs Gregory to talk him out of betting a pile of money on LSU in the Championship Game on Monday. Since they now take legal sports bets in Mississippi, those casinos on the coast are just about an hour away. It seems like easy money.

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