Winning at Life with Gregory Ricks

01:18 - Volatility in the stock markets have been incredible lately. Gregory sees more downside coming, and the first big test to the falling market will be earnings season.

04:47 - Sears isn't dead, but Gregory explains how it's on life support.

08:19 - Wells Fargo pays a big settlement, but no one really gets in trouble. It appears the CFPB is OK with business scams as long as they get their cut.

12:52 - Gregory and James review their predictions for 2018, and see how well they stood the test of time.

17:03 - Gregory responds to audio from Peter Schiff and Alan Greenspan and their predictions for the financial world.

23:11 - Gregory shares the story of a client who called the office worried about losing money in the falling stock market. No problem though, because Gregory had his managed money out of the markets for a while.

33:30 - The government is partially shutdown while the two political parties continue a stalemate over funding a border wall. Gregory reviews some of the details around the issue, and how it could affect your money in the long term.

44:04 - Wes Blanchard, Estate Planning Attorny of the Total Wealth Authority, is in studio and we review some of his top callers from 2018.

49:35 - More and more people are choosing to die naturally at home rather than a hospital or hospice facility.

1:06:56 - Robin in Picayune asks Wes and Gregory how to handle the death of her kids' father. The Dad had remarried, but the new wife isn't filing succession, so can the child file?

1:17:40 - Wes reviews some more of his top callers from 2018 on Winning at Life.

1:22:55 - Jeff in Metairie asks Wes and Gregory if a Savings Bonds with a P.O.D. designation has to go through probate or succession.

1:29:56 - Wes in Gulfport asks Gregory what to expect tax-wise from the sale of a commercial property. Gregory gives a few options, including how to get a sense of where he would land in the tax brackets, adjustments in income outside of the transaction, and maybe taking a look at a 1031 exchange to minimize the tax hit.

1:36:55 - Jenny in Laurel asks Gregory how to handle claiming her son as a dependent for half of the year, because her mom may be claiming him as a dependent for the whole year.

1:40:14 - Ty in Sardis is looking to retire in 5 years, and is concerned about the hit his investments have taken recently. Should he just get out, or stay the course?

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00:56 - Gregory and James discuss the big financial headlines of the day. A judge overturns Obamacare. The big Bitcoin peak was this day last year. It's also been one year since Net Neutrality was repealed and the internet is 40% faster.

09:14 - Paul in Metairie asks about his wife's money at an old employer's plan that was forgotten about.

13:37 - John in Jackson: Should I accelerate my mortgage payments or invest that money?

18:58 - Karen in New Orleans is receiving widows benefits. Can she go get a part time job without any problems with her benefits or taxes?

23:59 - Anthony in Gautier is retired and on Medicare, but just got an great job offer and is going back to work. Does he keep his Medicare or does he have to get on the company's healthcare plan?

30:24 - Ron in New Orleans is still working after he turned on his Social Security benefits. Will that increase his check?


34:23 - Glenda in Mandeville: If my husband is on Social Security Disability Benefits, when do I qualify for Social Security Spousal retirement benefits, and will it be affected by my Windfall Elimination Provision haircut?

38:20 - Steve in Van Cleave is a Reverse Mortgage Skeptic, and he's not all wrong.

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02:19 - A judge strikes down the Affordable Care Act, saying the tax provision repealed makes the entire law unconstitutional. Gregory reminds you of the metaphor between healthcare and buying an airline ticket. Few things wreck your financial world like unplanned medical costs.

25:14 - Gregory expands the amount of public events he's planning to cover additional topics like Social Security and Estate Planning.

27:47 - Charles in Covington is our Caller of the Week: Charles in Covington has moved his Thrift Savings Account out of the riskier funds into the G Fund, but how will he know when to get back into the pool?

36:34 - Gregory shares a report that the top CEOs read 60 books a year on average.

39:54 - Financial things to do before the end of the year. Gregory rolls through a helpful list of things you should check on.

48:21 - Jude Heath, CPA of the Total Wealth Authority™ covers tips on how to keep your financial house in order when it comes to taxes at the end of the year.

1:01:47 - Gregory tells the story of a guy who tried to send his Required Minimum Distribution to a charity, but since the check went to the wrong address, he missed his RMD and is facing a penalty. Gregory shares some tips he's learned by helping with thousands of IRAs.

1:06:47 - Jude Heath and Gregory agrees that James is too sloppy with his record keeping, and should be better about checking the mail.

1:15:22 - Jude Heath covers some of the changes to itemized deductions in the tax code for the next year.

1:22:32 - Dwayne Stein of the Total Wealth Authority™ had a great toy drive, and collected more than 200 toys that were given away at the iHeartMedia New Orleans Christmas toy event.

1:26:06 - Jude reviews a call from Sherri in Biloxi asking if she has to file an income tax return in retirement if her income is especially low. Gregory asks a few questions, and it turns out her income is held to a much lower standard because she's self employed. It looks like she will probably have to continue filing her income taxes.

1:37:07 - Chrisitan in Metairie is thinking about setting up a 529 plan to save for his kids' college, and wants Gregory's guidance on how to set it up. Gregory explains the ins and outs of 529 plans, but also is thinking a Roth account could be a good fit.

1:43:26 - A judge strikes down the Affordable Care Act, saying the tax provision repealed makes the entire law unconstitutional. Gregory reminds you of the metaphor between healthcare and buying an airline ticket. Few things wreck your financial world like unplanned medical costs.

1:56:10 - Gregory reports on the demise of the Dollar Menu at fast food chains, as inflation has forced their evolution into the Value Menu. A dollar doesn't get you much these days.

2:05:15 - Things you can do in 2019 to improve your financial situation.

2:08:19 - Jimmy in Metairie has taken some scary losses in the market in the last couple months. Should he ride the losses out, or get out of the pool until things turn up? Gregory questions how he could be 100% in the market at a time like this, and has a few ideas on how to get out of this mess.

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01:02 - A tour of West Point was the highlight of Gregory's trip to New York. He shares his story of a historic and inspiring visit. A trip to Rockefeller Center was beautiful, but COLD.

05:44 The Numbers went from bad to worse, and there's little chance of it turning around in the near future. Too many forces are pushing stocks down, and the underlying economic growth just can't compensate for all of it.

12:19 - Alan Greenspan tells Maria Bartiromo he expects the fourth quarter GDP growth between 2-2.5%. Is the economy slowing down? When will it be time to get back in the pool?

17:46 - Brexit is stalling, and the Yellow Vest protests are rocking in Europe. Are these protests primarily economic, and what is their message? This style of uncertainty is not good for business.

22:48 - Charles in Covington has moved his Thrift Savings Account out of the riskier funds into the G Fund, but how will he know when to get back into the pool?

36:32 - End of Year Financial Planning: Gregory and James go through a list of financial things you need to check on as we get close to the end of the year.

41:04 - The next Gregory Ricks Live! is coming up January 16th. Maybe you're ready to take that next big step, maybe you would like to hear more information, we can do that together over a wine and food pairing hand picked by Gregory.

Check out our available Zoom classes: http://inspirlang.com/zoom

Get our digital/paperback book at https://inspirlang.com/lovemando

View podcast transcription at https://inspirlang.com/mandopod

Youtube: https://youtube.com/c/inspirlang

Facebook: https://facebook.com/inspirlang

Instagram: @inspirlang

Twitter: @inspirlang

Check out our available Zoom classes: http://inspirlang.com/zoom

Get our digital/paperback book at https://inspirlang.com/lovemando

View podcast transcription at https://inspirlang.com/mandopod

Youtube: https://youtube.com/c/inspirlang

Facebook: https://facebook.com/inspirlang

Instagram: @inspirlang

Twitter: @inspirlang

01:12 - The next Gregory Ricks Live! is coming up January 16th. Maybe you're ready to take that next big step, maybe you would like to hear more information, we can do that together over a wine and food pairing hand picked by me.

08:00 - Gregory explains why he's not a buy-and-hold style investor. He shares the story of a recent couple graduating from Mutual Funds to ETFs and fixed annuitues. If you do buy a Mutual Fund, watch the fees.

14:05 - How to not worry in a down market. Keep an eye on a few key fundamentals, and know when it's time to exit the market. Once you see the coast is clear and things are on the upswing, get back in. If you need help, get it.

18:43 - How to read the inversion of the yield curve, and the S&P crossing its 200 Day Moving Average.

25:21 - The XFL announces the location of its first 8 teams, and from a business perspective, they are positioning themselves better for success this time around.

32:09 - We play some clips from the audiobook of Trump's Art of the Deal that shed light on how the President is approaching some current issues from the same playbook.

36:01 - Why would you sit still and ride down the losses? If you know things are going south, why are you putting new money to risk?

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01:21 - Wow, the markets are all over the place! Stocks took a big dive today, but they were flying high last week after a month of getting crushed. Gas prices are dropping like a rock, and OPEC is taking a beating. Half of the economic news is great, the other half is a disaster. Gregory explains why the inverted yield curve on bonds is getting so much attention.

15:37 - Jennifer in Covington wants to convert some of her IRA money to a Roth IRA, and Gregory gives her the roadmap on how to get there. Gregory also explains some of the bigger reasons why you may prefer to do a Roth conversion.

24:39 - The discussion with Jennifer prompts Gregory to further explain the tax bracket management strategies on converting a traditional IRA to a Roth IRA, and how these tax considerations overlap with estate planning. Would you rather leave behind tax-infested funds to your heirs or not?

31:00 - Stocks usually get more attention, but the bond world is often a better predictor of what's coming up in the financial world. The lessons Gregory shares from the debt world are powerful tools in knowing how to position your money.

35:19 - The Numbers are red across all indices by at least 3%, and the only green stock on the short sheet is Tesla.

http://www.WinningAtLife.com

Check out our available Zoom classes: http://inspirlang.com/zoom

Get our digital/paperback book at https://inspirlang.com/lovemando

View podcast transcription at https://inspirlang.com/mandopod

Youtube: https://youtube.com/c/inspirlang

Facebook: https://facebook.com/inspirlang

Instagram: @inspirlang

Twitter: @inspirlang

Check out our available Zoom classes: http://inspirlang.com/zoom

Get our digital/paperback book at https://inspirlang.com/lovemando

View podcast transcription at https://inspirlang.com/mandopod

Youtube: https://youtube.com/c/inspirlang

Facebook: https://facebook.com/inspirlang

Instagram: @inspirlang

Twitter: @inspirlang