Winning at Life with Gregory Ricks

The Weekly Wrap: 09.29.18


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01:50 - We review the Caller of the Week: Gregory explains to John in Violet how the Required Minimum Distributions are calculated on an Inherited IRA. Gregory follows the call with a round up of what you need to do if you inherit an IRA.

8:59 - Jerome in New Orleans wants to know how he can prove he owns his businesses.

12:12 - Gregory continues to explain how business owners can get the correct information and paperwork with the government.

16:54 - The opening of the new New Orleans airport has been pushed back. What a mess that whole project has been, and it's not like the existing airport needed replacing in the first place.

23:29 - The Mississippi Gulf Coast is booming with over $167 million in new developments already permitted for the coast, and more on the way.

25:20 - The Federal Reserve raises its target funds rate as expected. This keeps Gregory's Podium Theory alive, and signals things are humming along nicely in the economy. The contrast in how current Fed Chair Jerome Powell sounds compared to former Fed Chair Janet Yellin is astounding. Gregory points out that conservative investors have some much better returns.

32:29 - Who was the best act at the iHeartRadio Music Festival in Las Vegas last weekend? Justin Timberlake was probably the consensus favorite, but the level of talent at the event was just through the roof. The Aria was a sleek and cool hotel and casino, the T-Mobile Arena was sharp. Lynyrd Skynyrd was better than expected, and

44:36 - Is it still a good time to get a mortgage? Dwayne Stein from MortgageGumbo.com joins the show and makes the case that right now could possibly be the lowest mortgage rates you will see for the rest of your life. No, it's not as low as it was a year ago, but rates should continue to rise and remain higher from here on out. If they get back to these levels, we probably have big problems.

46:50 - Dwayne Stein responds to a question from the Bob Massi show on what happens with a reverse mortgage when you go into a nursing home? The rules for ending a Reverse Mortgage early is a Maturity Event.

52:58 - Nick in Gulfport has been paying Social Security taxes at his job for the last 30 years, but his new job doesn't participate in Social Security in favor of a state pension.

59:22 - Bob in Harvey would like to get a better interest rate on his money in his savings account and still be able to easily withdraw it on demand? Gregory explains how your emergency money shouldn't be chasing yield, and liquid accounts aren't going to yield much.

1:11:05 - Johnny in New Orleans asks Gregory Ricks and Dwayne Stein how the elections will affect his investments. Will the economy slow down or take a dive if Congress changes hands?

1:18:04 - Gregory asks Dwayne what he sees on the front lines when it comes to student loan debt keeping people from getting a mortgage.

1:28:37 - Breaking news as two police officers were killed in the line of duty this morning in Brookhaven, MS.

1:32:08 - The Fed raising rates is right in line with what Gregory Ricks expected, and the rates should continue to go up at a similar rate. This is boosting ultra-conservative investors seeing their CD interest improving as they churn through renewals.

1:38:18 - Gregory follows up on the earlier question from Nick about the Windfall Elimination Provision.

1:45:50 - Thomas in New Orleans asks Gregory if CDs are more attractive now that they're interest is above 3% for a 5 year CD. Gregory points out that with a CD-like annuity, you could be getting more than 4% over 5 years.

1:55:51 - Brett texts in from the WInning at Life app to ask Gregory about his options to get out from under all this credit. Should he file bankruptcy?

1:58:26 - An anonymous texter from the app asks Gregory how he should handle his profits from cryptos.

2:03:17 - Text question: Is 3-5 months of expenses a good enough emergency fund?

2:04:29 - Brian in New Orleans asks if he should be investing into eSports? There's a huge amount of money being flooded into the eSports market, but Gregory wants to know where the exits are.

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