Winning at Life with Gregory Ricks

Winning at Life Weekly Wrap: 06.16.18


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You started a life insurance policy years ago to take care of your family should something happen. Now, your kids are all grown, the house is paid off, and there's enough assets built up that you don't really need it for your family's financial security anymore. Maybe you can sell it or cash it out, but Gregory shares a few other ideas on how you can use that policy to get the most money out of it with incredible tax efficiency.

Learn how to take advantage of your life insurance's death benefit before you die. Gregory explains there's several ways to access the cash value built up in your life insurance policy, and he has some nifty ways you can use that to minimize or avoid taxes on your retirement income.

The next Gregory Ricks Live is coming up Tuesday, July 10th, 6:30pm. Come find out more about Gregory Ricks and what he can do for you.

Gregory Ricks' amazing Podium Theory of the Federal Funds Rate continues it's flawless streak since the Fed began liftoff in 2015. James Parker gives you an audio comparison of the new Fed Chair Jay Powell versus his predecessor Janet Yellen.

Andre in New Orleans asks Gregory how to get in on the Oppotunity Zones created by last year's tax reform package.

Perry in New Orleans wants to try and get some yield on the idle money in his brokerage account. Gregory explains that it's preferable to have the liquid assets in your managed investment account just sitting there getting minimal yield. That is its job, and it's probably not a good idea to go chasing returns with it.

Jude Heath, CPA of the Total Wealth Authority, explains the tax implications of putting your rental property in an LLC instead of keeping it in your own name.

Gregory Ricks and Jude Heath talk about the probe into the Trump investigation, and how to properly structure and execute a charitable foundation. The authorities ask two main questions: is it self dealing, and is it tax avoidance?

Dan in Biloxi asks Gregory Ricks and Jude Heath about how to structure a side business to his side business.

Ann in New Orleans is being offered a million dollar buyout on her $60k pension, and Gregory asks some questions that get to the heart of which option is best for Ann.

Gregory shares a report on Amazon expanding its Whole Foods two-hour delivery service. Gregory believes the future of the grocery industry will evolve into something more efficient, and this is merely a logistical evolution being worked out in real time.

CJ in Metairie asks if he will be taxed when selling a property to his son. Gregory breaks down how a bond for deed works, and where the taxes come in. There is going to be a tax bill due.

A new casino development is in the works for Long Beach, which would be their first casino! Island View opens their new NON-smoking casino on the Coast as well.

Gregory Ricks gives you a basic guide to rollovers from your IRA. If you can, you should move IRA money straight from custodian to custodian transfer. If you take the money straight to yourself, you have 60 days to either put it back, or find another IRA for it. You can do a rollover once per year aggregate of all your accounts.

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