Winning at Life with Gregory Ricks

Winning at Life Daily Wrap: 06.05.18


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Vincent in New Orleans asks Gregory to explain the 1099 issued from his IRA distribution. He wants to know exactly what his tax bill will be for dipping into his IRA.

A self-described Whale Whisperer is accused of scamming around 40 investors out of $3.3 million. How did these otherwise successful people get duped by such a strange fellow? Learn how to identify scams, and do some homework on the person you are trusting with your money. A good start is investor.gov.

George in Gautier asks Gregory if he has any options for him and his wife to increase their Social Security benefits after they've been turned on for years.

Larry in Westwego asks Gregory if he can transfer some funds in an IRA to an HSA. Gregory explains the tax implications of dipping into the IRA, and that it can't be clean a rollover from the IRA to HSA. HSA's can only be used with High Deductible Health Plans and vested with earned pre-tax income.

The trustees for Social Security and Medicare release their annual report with projections for the future of our two biggest spending programs. Of course, the math is uglier this year than last, but isn't that always the case?

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