Winning at Life with Gregory Ricks

01:11 - The number of Americans showing signs of burnout is at a record high. Gregory shares some of the ways he handles the high demands of a hectic schedule.

11:28 - Mosquito Joe has done an impressive job keeping Gregory's yard bug free. It's nice to not have to bug bites or fool with bug spray anymore.

13:32 - There's 3 things about Social Security people don't commonly know, and they are unhappy to find out.

23:44 - Byron in the Bourge has a new granddaughter, and wants to start saving up some money monthly for her. Should he buy stocks, or mutual funds, or what?

30:14 - Heather in Tyler got a call from her bank saying someone tried to use her Social Security number and make a withdrawal. Now that her Social Security number has been compromised, what can she do going forward?

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01:04 - The next Gregory Ricks Live event is going to be on the Northshore in Madisonville at Keith Young's. It's been a while since Gregory has hosted an event on the Northshore, and it's good to have an office in Mandeville as well.

13:30 - As if Michael Avenatti wasn't already questionable enough, he's been arrested and charged with extorting Nike.

16:17 - No, you probably shouldn't dip into your 401k or IRA early. The math is just too ugly.

24:24 - Smitty in Gretna asks Gregory about taking a loan from his 401k, putting it in his HSA, and taking the additional tax savings. Smitty says he does the math and it may be enough savings to cover the loan.

36:53 - Mike Trout signs a $430 million contract to play with the Angels. If he had signed with a team not from California, it would've saved him a small fortune in taxes.

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01:09 - Volvo is making a car that detects if you are drunk, and will take over if you are too wasted to drive safely.

08:30 - Matthew in Metairie asks what happens if Boeing goes bankrupt. Gregory and James agree that's it's highly unlikely the problems with their latest model could bankrupt Boeing.

19:09 - A survey shows Americans are doing better with their retirement savings over the last 5 years.

23:13 - Gregory explains who could benefit by coming to his Wine, Wisdom, and Food experience at Keith Young's in Madisonville.

28:24 - Whether you know it or not, we are all money managers. Gregory says it starts with creating some margin (having more income that outflow), and that's where savings begin.

43:25 - Caller of the Week: Larry in Metairie asks the pros and cons of an annuity. Larry is coming into a lump sum of money, and wants to invest it somewhere safe. Fixed annuities may be a good fit, but not for the whole pile.

50:14 - Trump's interview with Maria Bartiromo on Fox Business has some interesting financial clips, and we get Gregory's response on GDP growth, trade negotiations, Federal Reserve rate hikes, and where the economy is headed.

1:05:07 - What percentage of popular cars are made in America? The Mustang is Ford's last car model, because it makes money. The driving public is all about trucks, SUVs, vans, and crossovers.

1:26:48 - The rules on pension buyout offers have been relaxed. How do you know if a pension buyout is a good deal?

1:29:02 - Bill in Gulfport asks for Gregory's advice on how to best save some money for his newborn great grandson. Gregory walks Bill through the options.

1:33:18 - Two big reasons you need sign up for your account on SSA.gov.

1:47:34 - Caller of the Week: Mike in Laplace asks Gregory how so many public pensions can be so generous and so underfunded all the time.

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02:06 - Federal Reserve Chairman Jerome Powell announces they will not be raising rates, and hints there may be no more rate hikes this year. We're not so sure that's a good sign. The Bond Yield Curve is inverting. We're not so sure that's a bad sign.

06:54 - Gregory has been giving a book away for the last couple months, and someone who read the book came to the office with the ideas he learned. He was pretty excited about creating a tax free income stream.

12:35 - The rules on pension buyout offers have been relaxed, so Gregory explains how to gauge if your lump sum offer is a good deal compared to the monthly check.

17:25 - Mike in Laplace asks Gregory how so many public pensions can be so generous and so underfunded all the time.

24:01 - Larry in Metairie asks the pros and cons of an annuity. Larry is coming into a lump sum of money, and wants to invest it somewhere safe. Fixed annuities may be a good fit, but not for the whole pile.

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01:02 - Reverse Mortgage commercials look so shady. There's a reason for that, and Gregory uncovers what the late night commercials won't tell you. Gregory shares the story of a self-employed couple thinking about using a reverse mortgage to make their monthly house payment go away when they wind down their business.

13:33 - Louisiana double-paid some state tax refunds. Around 67,000 tax filers were processed twice, and the state is going to be wanting that money back.

22:15 - Caller of the Week: Doug in Covington is turning on his Social Security retirement benefit a couple years early. How much will it be taxed? What's the earnings limit before the clawback kicks in?

32:51 - Mini Man in Algiers asks how the tax credit on electric car purchases work.

43:29 - Carl in Clinton asks Gregory about some questionable info on Social Security he saw online. Are there any special forms you can ask for to get more money?

49:02 - When a health scare happens, what should you do for estate planning? Wes Blanchard, Estate Planning Attorney of the Total Wealth Authority, hears the story of a friend of the show who may have ALS.

53:54 - Al in River Ridge wants to know how to maximize his Social Security benefits with his wife. He has a federal pension, but may be exempt from the Windfall Elimination Provision.

1:04:57 - Steve in Hammond has a pretty good sized 403b, and wants to turn it into an income stream. Can he half-retire, continue to work part time, and turn on Social Security early, and have enough?

1:16:07 - George in Biloxi asks if there's a clawback on earnings if he turns on his Social Security early.

1:27:32 - John in Biloxi worked most of his life in the private sector, and now has a job that doesn't pay into the Social Security system. If he already has enough credits into Social Security, could he still be hit with the Windfall Elimination Provision on his retirement benefit?

1:35:58 - Rick in Gulfport asks Gregory if he should keep his annuity, or sell it and get back into equities?

1:55:20 - Americans are far more honest on their taxes than some other countries.

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01:51 - Who need tax planning the most? Self-employed, small business owners, those with side jobs, and high-income earners need to have tax planning the most. Gregory stresses that you have to take action to make this happen. Come to Gregory Rick's Lunch and Learn on Tax Planning March 25.

12:07 - Boeing's new 737 Max 8s are grounded, and Gregory compares the evolution of airplanes to the evolution of cars.

18:56 - The United States has more Millionaires than Sweden has people.

23:33 - The financial story behind the NFL offseason free agency is who has cap space to go buy some talent, and who's is so financially strapped they won't be able to resign the talent they have?

32:39 - We review the discussion with Jude Heath CPA on the Weekly Wrap: Are you a Independent Contractor or an employee? We look at how the IRS defines the difference between a company's employee that gets a W2, and a contractor who gets a 1099.

38:32 - Denise in Algiers is waiting until age 70 to turn on Social Security to get the max benefit. Does she have to go in after her birthday, or can she set this up in advance, and what gets her the max benefit?

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01:27 - The FAA has grounded the new Boeing 737 Max 8 and 9 model planes. In the aftermath of this week's crash in Ethiopia, Boeing lost around $25 billion in market value, and if some of these airlines cancel their orders for future Max 8/9s, Boeing is in real trouble.

13:16 - Federal Reserve Chairman Jerome Powell was on 60 Minutes, and we can't figure out why. The questions were overwhelmingly negative, and this new idea that the Federal Reserve Chairman should be chatting it up on TV is a bit reckless.

17:38 - The latest Brexit deal failed to pass, and the audio from the UK Parliament is unusually rowdy compared to what we see in our Congress.

25:54 - Doug in Covington is turning on his Social Security retirement benefit a couple years early. How much will it be taxed? What's the earnings limit before the clawback kicks in?

36:44 - Gregory and James discuss online banking security tips.

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01:26 - We preview the tax topics on the agenda for our guest: Jude Heath CPA of the Total Wealth Authority. How to avoid an audit, the UK is losing billionaires, Sweden is trying to pass a big tax cut, and the State of New York is auditing all wealthy people who move to Florida. Gregory also talks about tax incentives vs rax credits.

13:09 - You may want to be at Gregory's next Wine, Wisdom, and Food experience at Ruth's Chris on March 19th. If you've been piling up assets, and want to know how to get as much out of your investments as possible, learn how Gregory could help you get there. Are you working with the right person to take you into the next phase?

25:37 - Sometimes, delaying Social Security to get the max benefit isn't the best plan. Gregory details a retiring couple's situation, and how delaying Social Security to age 70 isn't supported by the math.

32:59 - Caller of the Week: Cody from Livingston Parish asks Gregory if his military retirement package will have any negative affect on his Social Security retirement benefits. Cody may be in the clear, but his mom may be hit with the Windfall Elimination Provision.

37:21 - Gregory elaborates on the discovery processes he uses to learn about his clients, and topics he prefers to cover in a first meeting: income planning, investment planning, tax planning, healthcare, and legacy planning.

44:03 - Jan in Marrero asks Gregory if the retirement pension check she receives from her deceased ex-spouse's railroad pension, will her Social Security retirement benefit be affected?

46:03 - Cindy in Gulfport asks Gregory what will happen if she delays turning on her Social Security survivor's benefits for a year.

51:57 - David in Hammond wants to know if he can roll his wife's pension buyout lump sum into an IRA or something to manage the tax hit. Gregory and Jude see this often, and help David understand what the process will be like.

57:32 - The State of New York has a task force that audits high-income earners who leave the state to make sure they really ARE moving their primary residence elsewhere.

1:05:15 - Gregory and Jude discuss the consequences the UK is facing since they passed massive taxes on their ultra-wealthy. About a third of the UK's billionaires have left the country. If James were to become ultra-wealthy, where should he move?

1:14:05 - Are you a Independent Contractor or an employee? We look at how the IRS defines the difference between a company's employee that gets a W2, and a contractor who gets a 1099.

1:26:24 - Financial News: The unemployment rate ticked down to 3.8% last month, while wage growth shot up 3%. Meanwhile in Europe, their economies are stalled, and they are ramping up some stimilus packages. When Hannity and Elizabeth Warren agree to break up the big tech companies, you know it's a bad idea.

1:38:34 - James checks the definition of Retirement on Wikipedia, and Gregory picks it apart.

1:48:57 - Fred in New Orleans has a financial guy that steers him away from annuities. Gregory points out that many brokers can't sell fixed annuities, and Fred may be missing out on getting investments on a less-risky path.

1:57:03 - Freddie in Metairie has a newborn baby, and wants Gregory's thoughts on saving for college with a 529 Plan. Gregory explains the basics on a 529, but also shares some strong reasons why using a Roth account for higher education could be a better deal.

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01:09 - The next Gregory Ricks Live is March 19, and it's always more popular when the markets are going a little haywire. Reserve your seat for our wine, wisdom, and food experience and find out if you should be working with Gregory Ricks and Associates.

03:17 - While things have been humming along just fine over here in the US, Europe's economic growth is almost at a stand still. It doesn't help us much if they can't keep up.

06:04 - After jacking up taxes on the ultra-wealthy, about a third of the UK's billionaires have left the country. It had 93, but 28 have chosen to move, with 10 going to Monaco. In the US, the ultra wealthy are most attracted to New York and Miami.

13:33 - Cody from Livingston Parish asks Gregory if his military retirement package will have any negative affect on his Social Security retirement benefits. Cody may be in the clear, but his mom may be hit with the Windfall Elimination Provision.

23:18 - Sometimes, delaying Social Security to get the max benefit isn't the best plan. Gregory details a retiring couple's situation, and how delaying Social Security to age 70 isn't supported by the math.

32:10 - Gregory talks about some of the ways people can use deferred compensation to save big money on their taxes.

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00:48 - It's Mardi Gras weekend in New Orleans, and the city is in near chaos. Many businesses are closed, roads are blocked off, and there's people in the streets far more than usual.

02:57 - An Isreali-made lunar probe is heading to the moon after being sent into space by a Space X rocket. It's quite a historic leap for private-sector space exploration, and a win for Elon Musk. There's another Space X test flight that just docked to the International Space Station.

07:45 - The first Gregory Ricks Lunch and Learn on Estate Planning was a success, and we already have the overflow crowd with the reservations half-full for next month's luncheon.

12:45 - Gregory is offering a free book for those serious about investing for retirement, with a focus on creating tax free income streams.

36:42 - Gregory reports on the waiting lists for surgery in UK, and our country's healthcare would have similar issues if we nationalized healthcare as well. Couple that with free education promises, and there's no way we can afford these programs without severe negative consequences.

43:37 - The GDP growth for the full year of 2018 is 2.9%. Gregory gives his thoughts on where economic growth is headed in the future.

1:04:50 - The new Northshore office of Gregory Ricks and Associates is already a busy location for both new and current clients.

1:06:17 - We review the caller of the week from the Winning at Life Daily Wrap: Paige in Thibodaux asks Gregory about the changes in her usual tax write offs.

1:18:31 - Staying at Holiday Inn as your primary residence doesn't sound like such a crazy idea after reading yet another profile on a retired couple that bounces from town to town using this method. There may be over 100,000 people doing this these days.

1:24:10 - A proposed wealth tax looks like a policy that has been tryied by a dozen countries in Europe, with 8 of them repealing it as a failed policy.

1:29:05 - We review a call from John in Jackson: what's Gregory's thoughts on using assets to pay off my mortgage early?

1:33:48 - James shares a report on big name retailers closing stores: Foot Locker, JC Penny, Victoria Secret, and the Gap. Between the four of them, they will close 465 stores in the near future. There's going to be some openings at the mall.

1:37:37 - Dell in Brandon asks Gregory about how to handle the Required Minimum Distribution on an Inhreited IRA from her mom.

1:43:09 - Gregory reviews 5 financial trends that could affect how you invest. What if a medical issue forces an early retirement?

1:54:59 - The IRS aggregates all traditional IRAs to determine the taxes on your distributions. If you have a mix of deductible contributions and after-tax money, your tax exposure is pro-rated to the aggregate percentage of each.

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