Winning at Life with Gregory Ricks

00:39 - A few quick tips to save money on taxes.

02:55 - Should I keep my old home as a rental? Sherry in Mobile is buying a new house, and her husband wants to keep the old house as a rental property.

13:46 - Can you stop and restart your Social Security check? Durale in Chauvin asks Gregory if he has any options to grow his Social Security benefit after turning it on early.

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01:11 - If you have stock in your company plan, use Net Unrealized Appreciation to pay a lower tax. Gregory explains how NUA works, and how sometimes NUA doesn't work. Many people don't like to pay the tax bill.

11:49 - If you're leaving money behind to your loved ones, think about structuring it into a birthday check instead of a dumping a lump sum on them when you pass away. It will be a long term reminder, and something for your loved ones to look forward to every year.

17:03 - The price of oil jumped up today, and had it's biggest daily gain in over a decade. The attack on the Saudi oilfield has crippled their production, and you can expect a slight increase in the price of gas over the next few months.

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00:16 - Drone attacks on two important Saudi oilfield facilities shut down half of the Kingdom's oil production. Expect prices to go up. Gregory shares some other insights into the oil industry, and some historic context.

09:15 - A married couple decides to cash out their 401ks to open their dream restaurant. Unfortunately, the restaurant failed. Now, they have gone back to work elsewhere. How do they make up for wiping out their 401ks?

17:21 - Things you should consider before buying/starting a new business. Gregory shares a recent discussion he had with an unemployed man wanting to buy a business in his industry with his retirement savings.

24:06 - Virginia in Hammond and her husband are getting a late start saving for retirement, and she's on Social Security's disability income. Gregory gives them some guidance on how to get more saved, and how to max out their Social Security spousal options.

28:41 - Gregory shares a hard truth: You have to stop living paycheck to paycheck.

Jude Heath CPA joins us for tax updates.

31:41 - Yvette in New Orleans wonders if she and her husband are doing the right thing with their 401ks. Should they be in a more aggressive investment? Should they be contributing more monthly? How will all of this affect their tax liability now and in retirement?

42:45 - What do you have to pay Required Minimum Distributions, and how much do you have to pay? Ann in Houma is getting close to RMD time, and gets help understanding the basics.

46:10 - What happens when you inherit your spouse's IRA? John in New Orleans gets some clarification on the rules governing a spouse's inherited IRA.

56:36 - California passes a law aimed at forcing Uber and Lyft drivers to be classified as employees instead of contractors.

1:11:22 - Don't let credit card debt drag you down!

1:14:21 - How your property sale can be taxed: Ricky in Biloxi asks Gregory how much he can expect to owe in taxes on this sale of his primary house when he moves into his vacation house?

1:19:04 - Paul in New Orleans asks some follow up questions about the call from Virginia Hammond. Gregory clarifies the different scenarios on how a spouse can draw a benefit from your record.

1:23:59 - Anita is Slidell inherited a rental home from her mother a few years back. How much would she be taxed if she decides to sell it?

1:26:51 - How is your Social Security benefit calculated? Andy in Lucedale retired early. Will the non-earning years hurt the size of his Social Security retirement benefit?

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01:17 - What do you do when all you have going for savings is a 401k?

10:19 - Should you buy a rental property?

14:25 - John in New Orleans asks what happens if his spouse doesn't do his succession when he passes away.

18:40 - Gary in New Orleans asks how does one qualify for a 6 month retroactive benefit from Social Security.

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Gregory answers the comment cards from a recent live event. Get updated on the latest financial news.

How do you know if you need a revokable trust or an irrevokable trust?

Gregory has guidance for those thinking of getting into the rental property game.

What is a reasonable expectation of returns for an investment with limited risk exposure?

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00:41 - The Great Chicken Sandwich Wars of 2019 are escalating with new combatants getting their bombs in. The backstory on the Popeye's Chicken Sandwich project has it's open shots fired in New Orleans in 1972. A Tennessee man is suing Popeyes for emotional distress over his struggles trying to get his hands on their chicken sandwich.

09:41 - How do you turn your retirement savings into a monthly paycheck? Gregory walks you through some of the more common ways people transition from saving for retirement to setting up a monthly paycheck from those assets.

16:40 - David in Metairie shares some details on the financial backstory of Al Copeland's Popeye's empire.

21:11 - The NFL has a new highest-paid running back. Ezekiel Elliott scores a huge contract extension, and Gregory breaks down the numbers.

25:40 - Gregory relays a couple of recent situations he's dealt with as a Financial Advisor, including: how to correlate your assets to know when is the best time to turn on your Social Security benefit, and how to get some of that tax-exposed IRA money into your pocket with minimal-to-no taxes paid.

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00:36 - Gregory explains why a yield-curve inversion is not the harbinger of doom it used to be. In the past, it has preceded recessions, but it never had this level of distortions from the Federal Reserve rate rigging coupled with the historic premiere of negative-rate bonds means this market is not playing in the same arena as years past.

04:19 - Is the economy slowing down? Gregory is skeptical of the media outlets constantly claiming a recession is around the corner. The economy has different cycles, and while some sectors are in a down cycle, there's enough positive cycles to keep the overall economy growing.

08:54 - Gregory and James kick around the idea of a 100 year bond.

12:37 - Thinking of retiring early? Hear some warnings from an early-retiree.

17:59 - Updates on the new tariffs going into effect around the US-China trade wars.

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Gregory answers the comment cards from a recent live event. Hear Gregory's thought to the most common situations people are facing in their financial world.

http://www.WinningAtLife.com