Winning at Life with Gregory Ricks

1:28 - James is a little too excited about the new self-ordering kiosks at a nearby Taco Bell. Businesses are embracing new technology to help enhance the customer experience, or getting left behind. The self-order process feels less rushed than ordering in person or in the drive through.

12:09 - Are you financially smarter than a teenager? Hear Angie answer an 8 question quiz on financial basics that half of teenagers failed.

21:23 - Half of Americans don't work, and half of workers don't pay taxes. Taxes are going up in the future, and it's hard to see how the overwhelming majority of voters who don't pay taxes would support changes to such a sweet deal.

24:14 - Eddie in Thibodaux bought a little condo for his daughter's college housing, and now that she's gone, it's time to sell.

31:11 - Is your financial advisor covering all areas of your finances? Gregory explains the wide range of what a financial advisor should be covering, and where he often sees what others miss.

37:11 - Darrell in Laplace is inheriting a share of his mom's IRA. Does he have to pay a penalty on withdrawals before a certain age? How is it taxed?

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01:37 - We review a few proposed rule changes for IRAs, 401ks, and 529s. The changes are aimed at nudging more small businesses and individuals to put away retirement savings, but not all of them are good ideas.

06:10 - When is it OK to buy a second home? Is it too risky to be paying on two mortgages at the same time? Should you wait until your primary residence is paid off? Gregory explains how overcoming all of these risks is based on your margin.

13:51 - 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.

18:29 - Lee in Slidell has two homes and just got an RV. Will he owe any capital gains taxes if he sells his primary residence and moves into his second home?

32:33 - Required Minimum Distributions can cause other problems. The income increase can cause your Medicare premiums

42:39 - Jude Heath, CPA of the Total Wealth Authority, is in the fourth quarter of tax season, and has an accountant's view on these giant sports contracts.

1:06:50 - Gregory is amused about how Michael Avenatti's arrest has uncovered a bold disregard for tax law for a guy who is thrusting himself into the spotlight.

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01:02 - A report says 70% of lottery winners blow through the money in 5 years or less, and the size of the pot doesn't seem to affect the timeline much. Gregory helps people turn their lump sums of cash into income that won't run out. Sometimes it's from a pile of inherited money, the selling of the family business, or a few decades of IRA contributions.

22:53 - Gregory's next live event is coming up April 16 at Keith Young's in Madisonville: Wine, Wisdom, and Food. If you've been thinking about getting help managing your investments, maybe it's time we talked about it over a wine and food pairing hand picked by Gregory.

26:52 - What can Social Security do for you after you die? Gregory goes over how the rules work for Social Security benefits for a surviving spouse, surviving ex-spouse, minor children, and others.

33:36 - Does a foreign citizen spouse get to receive spousal benefits from Social Security? Glenn in New Orleans has a wife from the U.K. and asks Gregory if she will qualify for spousal and survivor benefits based off of Glenn's record. He also asks about being hit with the Windfall Elimination Provision.

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01:01 - The Brexit deal drags on with Theresa May asking for another extension. The UK economy seems to be resistant to the chaos.

05:42 - Mike Tyson sold a house to 50 cent, and 50 cent just sold it for a loss. Real estate deals should meet a number of criteria before you jump into a huge deal like that.

13:27 - Don in Mandeville

24:02 - Several pieces of legislation have been filed to reform retirement savings. One proposal would extend the IRA contributions and RMDs to age 72. There's another attempt at helping small businesses pool their retirement benefits, and expand 529 accounts to include more than just college.

35:27 - Gregory has a book he wants to give you to help you understand different ways to create passive income streams for retirement.

39:43 - Bitcoin is up quite a bit since the beginning of the year, but still miles away from its record high back in December 2017.

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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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