Winning at Life with Gregory Ricks

00:28 - The SECURE Act has been signed into law, with major changes is the rules for retirement accounts starting Jan 1. Gregory breaks down the new rules, and what you need to do to adjust your financial plans.

20:24 - Dwayne Stein of MortgageGumbo.com joins us to talk about the world of mortgages and credit, but we start with celebrating his huge'y succesfull toy drive. He then shares how he was able to get a married couple in the service industry (waitress and a cook) into a mortgage, and why you should neeeeever cosign for a loan, even if it's your fiance.

28:01 - Richard in Houma asks Gregory if his wife's state pension will cause her Social Security benefit to be affected by the Windfall Elmination Provision, and he asks Dwayne if he can fix his current reverse mortgage that doesn't have his spouse on the note.

37:50 - Hear a review of our public events in January! We have a couple of Lunch and Learns, a couple of Gregory Ricks Live events, and an open house at the new Gulfport office coming up!

41:50 - Dwayne Stein goes into detail explaining what it means to have a non-borrowing spouse on a Reverse Mortgage.

1:03:36 - Gregory and James go over what's in store for 2020.

1:22:04 - Mark in Hammond asks if his wife's State Pension will cause their Social Security benefits to be affected by the Windfall Elimination Provision.

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00:44 - The SECURE Act passes the Senate and is expected to be signed by the President. Once he signs it, the rules for your IRAs and 401k change dramatically.

11:36 - New Orleans Christmas legend Benny Grunch joins the show for some Christmas cheer, and to talk about the business side of Benny Grunch and the Bunch.

22:48 - Gregory continues to update you on the details in the legal changes to your IRA and 401k with the passage of the SECURE Act.

34:14 - Hear the end of Jow Burrow's Heismann speech where he thanks Coach O.

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00:51 - The SECURE Act was rolled into the spending bill that passed the House, and if it gets through the Senate, it would make some HUGE changes to retirement savings. Gregory details the changes that may be coming to IRA contributions, Required Minimum Distributions, 401ks, and other details in the SECURE Act that affect your money.

25:15 - Do you like the self checkout lane at the grocery store? They are a great example of how the human behavior patterns adapt to new technology. Expect to see more automation like this, and invest accordingly.

28:03 - We break down Burrow's Heisman speech.

31:12 - Susan in New Orleans has a complicated web of ownership and residence from an inherited property, and has no idea what to expect or pay in taxes if she sells the house.

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00:58 - This budget deal is awful. The House of Representatives passed a spending bill ahead of a looming shutdown, and James claims it's quite possibly the worst spending bill in the history of America. It explodes the deficit, and the details are even worse.

11:51 - Boeing suspends production on the 737 Max jets. Gregory sees this as a bad sign of how things are going for Boeing trying to rebound.

14:35 - Gregory invites you to check out some of his public events next month. Are you looking for a Financial Advisor? There's a Wine, Wisdom, and Food Experience at Keith Young's in Madisonville. If you would like to come check out Gregory's new Gulfport location and meet him, there's an open house at the Gregory Ricks and Associates office. If you're having Social Security issues, there's Lunch and Learn coming up covering Social Security. Meet Gregory, get a nice box lunch, and get your Social Security questions answered.

19:26 - We review two great callers from Saturday's show trying understand how their Medicare premiums work. John in New Orleans is getting hit with a huge jump in Medicare premiums since beginning his Required Minimum Distributions from his IRA. Is there anything you can do to reduce those Medicare premiums? Dale in Long Beach is having some issues with his Medicare Premiums, and wants to know if shifting money into different financial products could help. Gregory explains how the Medicare premium tiers work.

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00:14 - The Dangers of Store Credit Cards. A report shows one of the biggest financial mistakes made over the holidays is signing up for new store credit cards. The interest rate on some of these cards is 30%!

09:55 - Gregory shares the story of a local retiree who had used the File and Suspend option on his Social Security record, and was surprised when he started receiving checks automatically at age 70. Gregory explains how the now-extinct File and Suspend option works, and how you can take advantage of retroactive benefits.

16:55 - John in New Orleans is getting hit with a huge jump in Medicare premiums since beginning his Required Minimum Distributions from his IRA. Is there anything you can do to reduce those Medicare premiums?

22:11 - Dale in Long Beach is having some issues with his Medicare Premiums, and wants to know if shifting money into different financial products could help.

28:18 - More Americans are choosing to die at home. For the first time in decades, more Americans who died of natural causes chose home hospice care over staying in the hospital.

34:31 - Robert in Thibodaux has some questions about his mom's irrevokable trust.

38:18 - We continue the discussion on how you can be ready to die in the comfort of your own home when the time comes. It takes a little more planning, and isn't free, but you can make it happen.

52:33 - Are you really all up to date with you Beneficiary Designations? What about your Alternate Beneficiaries? The end of the year is a good time to make some updates to your financial plan.

56:05 - China and the US announce they have agreed to a framework for Phase One of the new trade deal, and dodging the new tariff deadline set for Sunday. One side of the media is saying it's awful, the other side says it's great, and we say we don't know because NO ONE HAS SEEN THE TEXT.

1:11:40 - Byron in Houma is self employed and is concerned his business structure keeps his taxes low, but his Social Security record has suffered as a result.

1:17:39 - A comment card from Gregory's latest public speaking event asks for guidance on how to handle an inherited IRA. How do you settle up the taxes, satisfy the Required Minimum Distributions, and invest that money?

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00:16 - Gregory walks your through the history of Amazon, and how they've evolved from a book store, to the cheapest general store, to the convenience leader. In some cases, people are willing to pay a little bit more to get it tomorrow, and Amazon is all over next day shipping.

08:24 - The rise of Dollar Stores is crowding out some local grocers in small town America. Gregory and James respond to a critical report from 60 Minutes.

15:54 - Check out the crazy bonuses college football coaches scored this season!

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00:28 - As LSU Football rolls through what may be their most historic season ever, the money moving behind the scenes is massive. It's no surprise that college football coaches are among the highest paid coaches in all of sports.

07:59 - The jobs report was a blowout, and should give a pause to all of those who have been predicting a recession all year.

12:17 - Is recession coming? An interesting breakdown of the S&P 500 on CNBC shows that stocks may be set for another break out.

27:27 - How to score some great gifts without breaking the bank.

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00:51 - Joe Burrow's amazing season brings a new face to the debate on college athletes being able to make money from their likeness. If the legendary LSU QB was able to make a couple bucks per shirt from a line of Burreaux merchandise, he would already be rich.

07:54 - Cow Guy on Fox Business makes a good point: if the retail apocalypse is this bad when online spending is only 20% of the retail sector, what will the brick-and-mortar scene look like when they are splitting the sales 50-50?

11:18 - Thoughts on Estate Planning for blended families. Gregory answers a comment card from a recent event asking about financial guidance for those who have children from different marriages for both spouses.

15:50 - Black Friday gun sales were the second highest on record. Strong gun sales are generally viewed as a positive economic sign.

21:12 - John Paul in Biloxi has his disabled mother living with him, and is looking for any tax advantages or exemptions. Could he use a trust to protect some assets, or a life trust, or something?

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01:27 - When three brothers auctioned off their late parent's collection in the attic, one painting was worth over a million dollars.

09:51 - Gregory warns of robocall scams, and James has the story of the biggest heist since WW2.

16:50 - Maybe you should sleep on a big decision. Gregory is a big believer in taking your time and getting multiple opinions when making a big decision.

25:16 - Ideas for streams of income in retirement. Hear the list of different income streams that are most common in retirement.

34:24 - A 30 second ad for the Super Bowl sold for $5.6 million.

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00:29 - The Census Bureau releases its report on poverty in America, and the news is overwhelmingly good. Gregory reacts to the slew of stats that show the lower and middle classes gained ground over the last two years.

02:58 - Gregory explains the downsides to annuities.

07:48 - 10 RMD Mistakes to Avoid: learn how to avoid some of the common errors people make concerning the Required Minimum Distributions from their IRAs and 401ks.

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