Winning at Life with Gregory Ricks

00:39 - When the CBO report tells you that annual deficits above $1 trillion is the new normal, you need to start investing like you expect taxes to be higher in the future. What does that mean?

06:27 - What do you do with money sitting in the retirement plan of your old job?

09:19 - Should you buy a car with cash?

11:25 - Gregory's stats on oil, treasuries, and interest rates give you a good context of what's going on in the financial world.

14:00 - The SECURE Act's changes to Required Minimum Distributions do not apply if you had already passed the age limit to begin your RMDs. Gregory explains when your RMDs start under the new rules.

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00:58 - Proposed changes in how the Social Security Disability benefit is evaluated could lead to the first big overhaul since 1986.

04:11 - Safe investing used to be easier when the 10 Year Treasuries were higher than inflation. Now, fixed annuities can fill some of that gap.

10:56 - When looking at a financial subplot of the Super Bowl, the two teams in the big game have the highest and lowest salary cap space the rolled over from the previous season.

15:21 - The hype about the Corona virus may be overblown in some people's opinions, but there's no doubt it is having a major economic impact on China at a time when they can ill afford it.

24:14 - Gregory explains some of the basics of how Medicare enrollment works.

29:36 There's a few different financial explanations on why Bayou Country Superfest is on hiatus.

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00:41 - The Coronavirus is causing huge shutdowns, Starbucks, McDonalds

02:13 - The death of Kobe Bryant is a solemn reminder to cherish every day, and in times like these, it's a good chance for you to reflect on your own estate plan. Maybe it's time for an update?

11:42 - Casino stories.

21:37 - Justin in Summit is renting a trailer on a nice piece of land, and has been offered to buy the property that includes a house. Should he cosign with a family member to get a better deal on the loan?

31:53 - James in Slidell warns a previous caller about the hidden monthly costs that come with buying your first house like taxes, insurance, and maintenance.

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00:34 - Trump at the World Economic Forum in Davos, Switzerland praises his roaring economy, and his pro-American message is in sharp contrast to previous administrations.

08:40 - France surrenders again! France backs off its digital tax that was clearly targeting a handful of American tech giants for billions, and in return they won't get tariff-bombed on their wine and cheese exports.

09:58 - Jamie Dimon on Maria Bartiromo's Wall Street makes his case for a strong defense of capitalism. The CEO of JP Morgan Chase makes some strong points.

22:23 - Gregory and James debate a report from UMass-Boston making the case for expanding Social Security retirement benefits. Sure, many seniors are depending on that income to maintain their current standard of living, but if the math doesn't work out, something has to be done.

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00:11 - Darrell in Baton Rouge asks why his wife's Social Security income suddenly became 85% inclusive on their taxable income. Is there a way to get under that taxable threshold?

07:56 - Keith in Baton Rouge was planning on maxing out his Social Security at age 70, but waiting to turn on Medicare could result in higher premiums. Does it matter if he continues to work?

11:27 - Tim in Jackson asks how the IRS withholding rules have changed. Gregory explains some of the effects of the tax cut act on withholdings.

15:32 - Charles in Mandeville reminds you about some types of income that are not inclusive when figuring out how much of your Social Security benefit will be taxable.

16:55 - Ray in Lucedale has a huge IRA, and wants to know if the Required Minimum Distribution are going to keep going up, and if he can reduce the tax hit.

18:58 - Bonnie in Bay St Louis is wanting to do some non-profit work out of her home in retirement. She asks Gregory and Jude how this could affect her taxes.

24:51 - Now that the Raiders are moving from California to Nevada, the players get a 13% pay raise by moving to a state with no income tax.

32:04 - Someone found over $40k in a thrift store couch.

35:00 - Mike in Lucedale is getting a $100k gift from his son. Will he have to pay taxes on that?

43:23 - Mark in Gulfport just sold his car and bought a new one. Is there anything he needs to take care of as far as the taxes go? He also asks about a CD he saw.

49:08 - Richard on the Westbank finds out his wife is losing her job. What are some ways he can get some money to hold them over until she can find another gig?

52:07 - Ryan in Kenner and his wife are saving for retirement, is there anything they need to do to address their significant age gap? Is there any special considerations for an older wife?

56:25 - Lenny in Mandeville asks: will the dividends from inherited stock reduce his wife's Social Security benefit? Gregory says it won't affect the size of the benefit itself, but the extra income could cause an increase in how much of his Social Security benefit is subject to taxation.

59:06 - Brian in New Orleans is investing in real estate properties he's picking up at tax auctions. Now that he's flipped a few of the properties, how will that revenue to his llc be taxed?

1:01:34 - Marian texts in her question from the app: she inherited a house from her mom, so how will it be taxed when she sells it?

1:07:02 - Gregory and James are convinced the reason Harry and Meghan want to leave the British Royal Family is purely financial.

1:08:54 - Bob in New Orleans asks if he should put more money into his 401k, or pay down his mortgage. He gets no match on his 401k, does that change the math any?

1:11:22 - Bob in Memphis asks if he should put more after-tax money toward his Roth IRA or his equities account.

1:14:24 - Bill in Mississippi wants to know why his Medicare premium jumped up, even though he had no earned income this year. Gregory points out your Medicare premiums are based on your last tax return, which is based on the previous year.

1:16:50 - Patricia in Covington is getting hit with the Windfall Elimination Provision when she turns on her pension from the state. How bad will this hit be?

1:21:22 - Mark in Lakeview could qualify for disability, but wants to keep working. What are his options between Social Security retirement benefits, disability benefits, and the various earnings tests?

1:25:00 - The Open House social event at the Gulfport Office for Gregory Ricks and Associates had about all the guests they could handle. Everything went great!

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02:22 - The window has closed for Social Security strategies called: File and Suspend, or File and Restrict.

06:16 - Odell Beckham Jr. is on camera handing out cash to LSU players on after the championship game. Financially speaking, it's a generous gesture of support for his alma mater, but may have broken some NCAA rules.

09:21 - Gregory continues educating you on the changes in the SECURE Act, and how to adjust your investments accordingly.

16:21 - Indiana's oldest state employee retires at age 102. Gregory and James muse about how skewed the numbers are for someone who works so late into life.

20:59 - The SECURE Act changes the definitions of earned income for purposes of contributing to an IRA, Roth IRA, or 401k. The SECURE Act allows for more safe money options in 401ks, and the Stretch option for inheriting an IRA is GONE.

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01:48 - Financial Football story: the financial backstory of the QBs in the final 8 NFL teams is amazing. None of the starting QBs in the NFC make less than $27 million per year. All of the starting QBs on the 4 AFC teams make less than $5 million per year.

11:00 - Gregory analyzes the dead salary cap space of each NFL team. Not surprisingly, those on the top on that list finished at the bottom of the league.

15:39 - Corporate debt is something that can drag an otherwise healthy company. With the cost of debt so low, companies are incentivized to take on more debt, and they have. Some of these companies will die because of this debt.

23:35 - The SECURE Act made some big changes to the rules on retirement accounts and estate planning. Estate Planning Attorney Wes Blanchard explains which part of your estate plan is affected, and how to get it fixed.

54:04 - Dan in Metairie wants to sell a piece of real estate without his wife's approval. Wes and Gregory agree the answer is: when was the property acquired, how was it acquired, and how is it titled?

55:37 - Mary on Facebook Live asks: does the SECURE Act changes affect the stretch option for my Roth IRA? Gregory confirms the stretch option is gone for her situation, but there's alternative ways to accomplish the same goal.

1:02:19 - Should you take your Required Minimum Distributions from you IRA on a monthly basis or annual lump sum? Liz in Madison just started taking her RMDs, and asks Gregory to explain her options.

1:05:49 - How will taxes work in retirement? Todd in Mandeville has a 401k, IRA, and pension. Counting Social Security and all of his other income streams, how is all that taxed?

1:08:21 - Keith in Thibodaux asks if he can still use the File and Suspend rules for Social Security. Gregory confirms those rules have gone away, and explains how the rules are now.

1:19:30 - James begs Gregory to talk him out of betting a pile of money on LSU in the Championship Game on Monday. Since they now take legal sports bets in Mississippi, those casinos on the coast are just about an hour away. It seems like easy money.

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00:38 - Why Anthony Davis is smart to turn down a $146 million contract offer from the Lakers. Gregory points out a few fun financial lessons to be learned here.

08:33 - Financial Planning hinges on two key questions:
1. What are your concerns? 2. What do you need your financial advisor to help you with?
Everyone's situation is unique, and there's a wide variety of financial issues your advisor should be able to help you with.

17:08 - Does the SECURE Act affect my Roth IRAs? Jennifer from Covington asks Gregory some details on how her financial situation is affected by the new law changes in the SECURE Act. Gregory continues updating you on more changes from the new law.

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00:50 - The new decade kicked off to all-time record highs on the Dow, NASDAQ, and S&P 500, and a slew of new rules on your investments. The droning of an Iranian General in Iraq has some folks concerned, but the market moves on.

06:58 - The SECURE Act takes effect this week and makes some big changes to the rules regarding your retirement accounts: 401k, IRA, Roth IRA, etc. There's changes you need to know about concerning contributions, distributions, inheritance, and taxes.

25:35 - There's big changes in Estate Planning rules in both the recent law changes, and the IRS updating of life-expectancy tables could reduce your Required Minimum Distributions.

34:01 - Stocks vs. Bonds. Gregory shows you some stats on how bonds have historically proven to be more stable and reliable than individual stocks.

42:42 - Judging by the fundraising numbers, Bernie Sanders wins the heart of the donors, and winning in the polls may not be far behind.

48:52 - A Statistician's take on New Years Resolutions yields three big pieces of advice for keeping your commitment.

55:05 - The world consumes 101 million barrels of crude oil per day.

Yes, the rules for your Roth IRA changed. Jennifer in Covington asks Gregory if the new SECURE Act has any affect on her Roth IRA accounts. Gregory points out a few key changes in the law.

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The laws changes regarding IRAs and 401ks. Here's what you need to know

John in Metairie is upset about the effects of the new IRA inheritance rules on his financial plan. Gregory agrees this isn't a fair shake, but changes will happen, and how you adjust to them is what's important going forward.

Andrew in Meraux asks Gregory if he should invest a pool of liquid assets he holds for regulatory requirements for his business. Gregory cautions against putting those assets at risk or into something illiquid.

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