Winning at Life with Gregory Ricks

02:57 - Gregory was right to curb your enthusiasm about the Uber IPO. The ride-sharing giant opened on the stock market with a small loss. Uber is losing tons of money, and has no plans on turning a profit anytime soon. Gregory and James speculate on the future of Uber, and how various disruptions coming to their business model make this an incredibly risky investment.

12:27 - Should you take Social Security early? Probably not, but there are a few situaions where turning on your benefit early makes sense.

33:12 - Keith in River Ridge asks about how deferring turning on his Social Security affects his situation. Various factors including your employment situation, marital status, and health issues should factor into your decision on whether to defer taking Social Security.

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01:17 - An update on the upcoming Uber IPO. This is the IPO with the largest operating loss in history, beating the record set earlier this year by Lyft. Having a record of consistently hemmoraging money isn't enough to scare off investors, even though IPOs haven't been very succesful lately.

13:35 - The Numbers were red all of the way around. More spooked selling from China talks, Uber


24:05 - If you're getting a late start in saving for retirement, the important thing is to start somewhere, even if you have to start small.

33:21 - Gregory talks about some upcoming events, and focuses on legacy planning and tax planning for those reaching for that next level of financial planning.

38:17 - A pair of Senators announce a plan to cap credit card interest at 15%. While their hearts are in the right place, their economics is not. Price controls will inevitably have some negative unintended consequences, such as forcing cost to go up elsewhere or supply shortages. Higher fees and tightening of credit standards will not help the people they intend to protect.

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03:25 - The Numbers were mixed, but more red than green across the short sheet. China trade talks are getting much of the attention, and there's some excitement about the upcoming Uber IPO.

09:35 - Gregory shares his thoughts on what's really going on with the trade negotiations between the US and China. Depending on what kind of deal gets done, this can market our markets blast off, or grind into a slowdown.

24:43 - Why you may want to avoid the Uber IPO. Gregory gives an excitement crushing preview of the Uber IPO.

35:48 - The federal student loan forgiveness program isn't so forgiving. Out of over 73,000 applicants to the Public Service Loan Forgiveness program, only 864 have been approved.

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00:54 - The markets were spooked by news the US-China trade talks have taken a big step back, with new tarrifs looming.

03:24 - Are Mining and Precious Metal investments a good idea? Alan in Gulfport asks Gregory his thoughts on where the mining industry is headed, because he is testing an investment option in his company's 401k.

06:52 - Doug on the Northshore heard a rumor that taking military retirement early could get you a bonus from Social Security. Doug also asks if he needs to turn on Social Security benefits a month before he retires.

12:47 - Rochelle in Hammond has nothing saved at age 50, and is self employed. How can she make up for getting a late start saving for retirement?

23:12 - Ryan in Biloxi asks Gregory how much Social Security benefits grow as you defer.

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01:13 - Gregory returns from his vacation with tales of adventures in Milan, Italy and in Austin at the iHeartCountry Festival. The food and wine experience in Italy is noticably different, especially considering dinner takes 2-3 hours most days.

14:23 - Gregory shares some of the ways Italy has a different mindset on economic issues like taxes and manufacturing.

19:17 - Gerard in New Orleans wants to turn on Social Security early, continue to work, and save some money from the dual income for retirement. Gregory warns early Social Security benefits may be subjected to a clawback based on your income, and the math frowns upon locking in a lower monthly benefit for life. If Social Security is your only plan, deferring to age 70 is probably your best bet.

34:02 - Gregory ranks the musical artists from the iHeartCountry Fest in Austin. The iHeartCountry event is now Gregory's favorite concert of the year for the last 3 years in a row.

38:13 - The numbers behind the Kentucky Derby scandal shows how millions of dollars were hanging in the balance for so many people. The unprecedented disqualification was financially massive.

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01:11 - The annual Social Security projection have been updated, and funds are now expected to run out in 2035. Gregory expects there to be changes to the program before benefits get cut, probably increasing the taxes, and maybe even raising the retirement age. James hopes for privatization.

19:27 - Are you doing better financially than the average American? Compare yourself to the average American on 10 different financial statistics.

37:38 - The Numbers are fantastic. The S&P 500 and NASDAQ hit an all-time record close, and earnings season is generally positive

44:37 - The second richest guy in Japan may have just lost $130 million messing around with Bitcoin.

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01:27 - Real Estate sales have slowed for the first quarter, but Gregory reminds you how often a sluggish home market isn't a sign of a slowing economy. The real effect on you as you are approaching retirement is the ability to strike a good deal on your retirement home.

16:00 - The Numbers are mixed, with Trump's repeal of Iran sanction waivers rocking the oil market and getting the biggest headlines.

25:27 - Gregory shares a study concluding there's 3 main things that make you happy in retirement. Having money is number one, not necessarily because money makes you happy, but a lack of money can make you miserable. A happy marriage and social life are also big contributers.

37:23 - When people complain Amazon made tons of money, but didn't pay any federal corporate taxes, remember there's lots of companies who pay zero in taxes. Usually, there's a very reasonable explanation, and you should embracing different tax strategies to see if minimizing taxes works for you.

43:22 - John in Metairie asks Gregory: What do I do with these old paper savings bonds?

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00:58 - Gregory and James do a brief summary of the major topics to be covered on today's show. Real Estate, reducing your tax bills, reverse mortgages, Social Security planning.

02:33 - A recent survey shows 42% of college graduates say their degree wasn't worth the cost.

12:42 - More Americans these days are enjoying an encore career in retirement. Sometimes it's for the money, sometimes it's for enjoyment, but it can cause a few negatives. An encore retirement can bump up your tax bracket, cause your medicare premiums to increase, be subjected to an earnings clawback from early Social Security, and other issues.

27:03 - Gregory's skeptical of a survey that claims a majority of American support Medicare for all. But when you ask them if they would support Medicare for all if it caused an increase in taxes or slower service, support collapses.

43:47 - Dwayne Stein of Mortgage Gumbo says the falling interest rates have given home purchases a bit of a boost, but overall this is turning into a buyer's market.

53:25 - If you want to learn more about Reverse Mortgages, Gregory Ricks and Dwayne Stein are presenting a Lunch and Learn teaching you about reverse mortgages and answering your questions.

1:14:15 - Calvin in New Orleans asks Gregory how to max out his Social Security benefits for the disabled.

1:16:18 - Dwayne Stein sees student loan debt causing big problems for some people trying to get into a mortgage.

1:30:31 - James saw a robot at a Walmart in Kenner taking inventory, and just like that: the robot era is upon us.

1:34:29 - Sharon in Picayune asks Gregory about starting Roth contributions.

1:36:59 - Carrie on the Northshore is thinking about stopping her 401k contributions, and diverting that money to paying off her mortgage before she retires. Gregory asks some follow up questions, and thinks getting rid of that monthly mortgage payment makes a huge difference on whether or not she can comfortably retire.

1:43:28 - Gregory shares some concerning stats on home repos, and shares some concerns about the sneaky comeback of subprime mortgages. What could possibly go wrong?

1:45:10 - Do stocks beat bonds? Gregory looks at some decisive data.

1:52:13 - Martha in Long Beach inherited part of an aunt's trust. How are you taxed on money from an inherited trust? Gregory explains some of the more common ways you can receive assets from a trust, and how they may be exposed to the tax man.

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01:39 - Gregory has some core rules for maximizing your Social Security benefit. Several factors go into your check amount, and Gregory breaks down how work credits and your starting age figure into your benefit.

04:52 - Initial jobless claims just set ANOTHER 50 year record low for the second week in a row. We haven't had this few people signing up for unemployment since before we landing on the moon.

13:11 - Political bickering over the Mueller report doesn't seem to have much of an effect on the markets, and clears the way for growth.

19:13 - How much money should you have saved by the time you're 40? 50? 60? One rule of thumb claims you should have 10 times your income by retirement age. Gregory thinks that may be a little low.

21:55 - Gregory answers questions from the comment cards at a previous Gregory Ricks Live, including how widows benefits work.

32:15 - Emily in New Orleans asks if she can continue to receive Social Security benefits from an ex's record if she gets remarried.

38:16 - David in Laffite asks if his mom could maybe get a larger benefit from Social Security by switching to her deceased spouse's record.

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01:08 - Gregory Ricks Live was last night at Keith Young's in Madisonville, and the place was packed, with a great response.

12:19 - More people are forced to retire earlier than expected, than forced to work longer than expected. How can you be prepared to retire before your preferred retirement timeline? The evolving job market also makes it easier for displaced workers to find a quick gig.

21:21 - New Mexico has the highest percentage of new residents from out of state who stated they are moving because of retirement.

28:14 - Gregory answers questions from the comment cards at a previous Gregory Ricks Live.

39:10 - Art in New Orleans asks Gregory's thoughts on some bond market strategies.

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