Winning at Life with Gregory Ricks

01:16 - Almost everyone needs some form of estate planning in case something happens, but who REALLY needs estate planning the most? If you're caring for someone with special needs, or you're in the crosshairs of the Estate Tax, you're probably on the top of the list of people who could use some help. However, the most urgent need for estate planning comes from the terminally ill.

12:44 - Dr. Megan in New Orleans just completed medical school and began her residency, but she's accumulated $500,000 in student debt along the way. Dr. Megan and Gregory discuss her options when it comes to either paying the debt down or managing the federal student loan forgiveness program.

31:13 - The head of a Cryptocurrency exchange died, and he was the only one with the key to access about $190 million worth of cryptos.

38:02 - The Numbers are mixed, with Apple's recent security issues dominating the business headlines. A nug with eavesdropping through Facetime has been fixed, and a new flaw in Live Photos is the latest flaw.

42:19 - Gregory explains the situation of a couple worried about getting hit with the Windfall ELimination Provision because of a public pension.

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00:51 - Gregory Ricks announces a new event he's hosting for those with tax issues called: Lunch and Learn. Stop in for a quick luncheon, and learn how to work the system and minimize taxes. This is also a great eductional event for those who are behind on their taxes, and those interested in creating tax-free income.

12:44 - Learn some basics of IRAs. Do you qualify for an IRA? How much can you contribute? What's the difference between a traditional IRA, a non-deductible IRA, and a Roth IRA?

27:47 - What are the early withdrawal rules for IRAs? There are rules that allow you to dip into an IRA for certain educational or home-buying expenses, but you may get hit with taxes and/or a penalty.

34:38 - Stan in Gautier asks Gregory for some help figuring out his situation with Social Security. He receives a military pension for doing 20 years in the Navy, but a court ruling about his Social Security contributions in the service may affect him.

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00:58 - The US has announced new sanctions on PDVSA, the Venezuelan national oil company, in an attempt to help transfer control from Maduro to Guaido. Kudlow says the China slowdown may have effects on our economy, but overall we're still going in the right direction.

09:09 - The Numbers are down overall, but Gregory's concern for Caterpiller's big drop is how the global slowdown could cause a our economy to slow as well.

13:35 - A report says Harley-Davidson's brand is still strong with Boomers, but Millenials aren't buying in.

25:32 - Gregory is boycotting the Super Bowl, and our friends at the Jefferson Performing Arts Society are offering a deal on behalf of the show: mention Winning at Life or Gregory Ricks and get tickets to see Shear Madness buy one get one free!

29:19 - Earl in Covington asks: How do the rules work with Social Security benefits when it comes to spousal benefits, and how do the options change with a divorce?

39:13 - Brad in Alabama asks Gregory how he should invest the money in his 401k.

42:01 - Antoine in Houma asks if his wife will be able to access his checking account if he dies without a will. Gregory shares some options. Some banks can have an account be Payable On Death to your wife, you could give her signing privledges, make a joint account, or it will transfer to her through succession.

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00:57 - There's a 3 week spending bill to end the partial shutdown with no wall funded. Trump says he'll do emergency powers for the wall if it's not in the final compromise. Gregory thinks it's not going to be in the final compromise, and this will end up decided by the courts.

08:02 - Gregory stresses federal employees should not bear negative consequences for political stalemates.

13:05 - Gregory is offering a free book for those serious about investing for retirement, with a focus on creating tax free income streams.

18:35 - 80% of millionaires did it with their 401k. Gregory explains how powerful pre-tax savings in your 401k and IRA can be, but also warns of the tax hit they pose with it's time to take distrubutions. Don't let tax planning be an afterthought. Create tax free streams as well.

25:33 - There's some talk of raising the top income tax rate to 70%, and Gregory has some numbers on the last time we had the top bracket at 70%. AOC is calling for higher taxes, and says a system that allows for billionaires is immoral.

34:57 - Chase in Gulfport has $2,000 in extra income monthly to invest. Should he pay down his mortgage with that money, or is there better options? Gregory asks a few questions, and has some powerful investing options for that money, maybe even using a max funding plan.

39:09 - Gregory shares some tax advantages in the code business owners can use to lower their tax bill.

47:54 - Dwayne Stein, from MortgageGumbo.com, explains how him being in the Total Wealth Authority ended up saving a couple quite a bit of money because their mortgage lender and financial advisor are on the same page.

50:39 - How does the shutdown deal affect the mortgage world?

59:34 - A survey claims 20% of people who live with their partner are hiding money from them. Dwayne Stein says he sees spouses hiding money from each other in the mortgage process at least once a month, and it can be a mess for both their lending and relationship.

1:08:58 - The Federal Reserve has soften their stance a little lately, and may be considering a pause of the Quantitative Tightening. Dwayne and Gregory discuss how this squeeze on the money supply have effects across the mortgage world.

1:18:15 - Ray in Franklinton texts in on the Winning at Life app and asks if he can get his wife on the reverse mortgage even though she's not 62. Dwayne and Gregory discuss how it's possible, but probably not the best fit.

1:23:23 - As home prices are peaking in some other big cities, Dwayne sees that we may be near a housing peak in our area as well.

1:30:16 - Gregory is offering a free book for those serious about investing for retirement, with a focus on creating tax free income streams.

1:37:58 - Fran Tarkenton has a new book out addressing the issue of senior financial abuse. Gregory sees people taking advantage of seniors with assets far too often, and has some strong advice on how to protect yourself.

1:44:36 - Chippy in Destrehan asks Gregory how to give his family and friends financial advice without being a pest or making himself a target.

1:50:09 - Earl in Covington asks: How do the rules work with Social Security benefits when it comes to spousal benefits, and how do the options change with a divorce?

1:53:07 - Jeff in Covington is about to retire from the military and move, and wants to know if he should go ahead and sell his house now?

1:59:16 - Don in Covington wants to know how his government pensions will affect his Social Security benefits. He may be hit with the Windfall Elimination Provision, but it sounds like he may be exempt based on his earning record.

2:04:29 - Gregory reviews how business meals and entertainment expenses are included in your tax write offs.

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01:46 - A former financial planner talks about what has surprised him after 10 years of retirement.

13:04 - Gregory is offering a free book that talks about building tax free income streams.

19:03 - A deal was announced to end the partial shutdown. Gregory breaks down some of the details of the deal, and we may end up back in a shutdown in three weeks?

25:46 - The Numbers are green across all the indices, and earnings season is off to a solid start.

35:47 - Gregory is thinking about life without football. There's no other legitimate football games left, so technically, football season is over until August.

40:45 - If AOC is any indication, there's a strong push to raise taxes. That mindset change in Congress gives investors a reason to be hesitant.

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00:59 - Would you like a free book explaining ways to build tax-free income streams for retirement? Gregory is giving away copies of this quick read only to those who are serious about taking their investments to the next level.

03:09 - The Numbers are largely negative across the stock indices, but there's solid news coming from earning season.

11:33 - Soccer start Cristiano Ronaldo pays a $21 million fine for tax evasion to Spanish Authorities.

14:52 - Gregory has some strong opinions for the NFL after the Saints were robbed by one of the biggest blown calls in the history of sports. Gregory responds to Fran Tarkenton's remarks on the game, and how this is bad for business in the NFL.

25:00 - Fran Tarkenton has a new book out addressing the issue of senior financial abuse. Gregory sees people taking advantage of seniors with assets far too often, and has some strong advice on how to protect yourself.

36:57 - Gregory and James list out some ways to save on taxes. Max out your 401k/IRAs. Use your HSA. Use a CPA who knows all the deductions.

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01:04 - Would you like a free book explaining ways to build tax-free income streams for retirement? Gregory is giving away copies of this quick read only to those who are serious about taking their investments to the next level.

15:04 - We review a highlight call from the Weekly Wrap: Larry in Slidell loves the show, but not the taxes on his Social Security benefits. Is there anything he can do about that?

20:59 - Wayneo in Waco got some questionable advice from someone at work saying you have to turn on Social Security to get Medicare? Gregory confirms that is bad advice, and gives you some options on how Medicare works.

26:41 - The first Gregory Ricks Live of 2019 is tomorrow. The event is full, so we expect another great wine, wisdom, and food experience at Ruth's Chris.

35:59 - The most common income streams for retirement. Gregory and James review a list of common income streams: Social Security, 401(k)s and IRAs, Roth accounts, pension, home mortgage (reverse or refi), health insurance, stocks and mutual funds, bonds, savings accounts, and CDs.

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01:11 - Would you like a free book explaining ways to build tax-free income streams for retirement? Gregory is giving away copies of this quick read only to those who are serious about taking their investments to the next level.

12:29 - Gregory and James discuss a couple of news items: how some people think the national debt is not a problem, and is it a good idea to import thousands/millions of homeless illegal immigrants who skipped the line?

18:18 - It's RMD season! Do you know when you're required to start taking distributions from your IRA or 401k? Gregory explains how if you turned 70.5 last year, you need to make a Required Minimum Distribution by April 1 to avoid a brutal penalty.

24:02 - Lou in Houston sends in a text from the app asking Gregory about how the Social Security rules govern his divorce situation. While they are still married, she can turn on a benefit off of his record when he reached Full Retirement Age. However, when you get a divorce, there's a two year wait before you can collect. Gregory also advises this could be a bargaining chip in divorce negotiations.

28:38 - We review a great call from Saturday's show: Jeff in Hammond asks Gregory the difference between the Windfall Elimination Provision and the Government Pension Offset? How do these affect your Social Security benefits?

36:02 - Earl emails Gregory about his wife on Social Security going back to work at age 68. Will they take some of her check back? Does she still have to pay into the system? Will she build up a bigger benefit?

39:56 - The Northshore office of Gregory Ricks and Associates is now open for business!

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01:15 - Gregory and James do a quick football preview and then get to the financial news of the week. James asks Gregory if he frowns on the idea of heading out to the casinos on the MS Gulf Coast to take advantage of the sports betting.

15:49 - Emanuel in Gautier wants to know how Social Security benefits work once you get divorced. Gregory reviews the rules for Social Security benefits for divorced, spouses, widows, and when your ex spouse dies.

23:11 - The partial federal shutdown dominated the news cycle this week, but the affect on your money thus far has been minimal.

34:28 - Gregory reports on a CBO study on ways to reduce spending and the annual deficit. The report itself is over 300 pages, and shows there's a lot of room for the federal government to slim down and that would be huge for the economy.

35:20 - Donna in Ocean Springs asks Gregory if he's heard of deferring property taxes for senior citizens.

46:41 - Wes Blanchard, Estate Planning Attorney, sees an uptick in interest by people looking to create or update their estate planning. Wes also sees more successions this time of year, and suspects it has more to do with people getting tax bills rather than a New Year's resolution.

50:07 - Wes Blanchard explains why he found the need to pursue Estate Planning as other lawyers who did not specialize in the field were making some painful mistakes.

1:01:55 - John in New Orleans asks Wes about how to open up succession on his late father's estate. John's father passed years ago, and the family doesn't know how to get things started.

1:08:05 - Gregory says hi to some listeners who recognized his voice at Bistro Byrons in Mandeville, and Best Buy in Covington.

1:10:20 - Mary in New Orleans asks Wes about a suspicious succession process in the family, and how to best get it resolved.

1:19:23 - Elizabeth in Mandeville asks Gregory and Wes for any ideas to help a friend wanting to refinance her house.

1:28:58 - Gregory talks about setting up a tax free income stream.

1:32:30 - Paul in Gulfport asks about the tax implications of adopting a child.

1:37:02 - James in Bay St Louis wants more info on the book Gregory is offering to learn about tax free income streams in retirement.

1:38:49 - Greg in Pensacola is selling a piece of property. Should he take that money and pay off his mortgage, or invest it?

1:50:45 - Larry in Slidell loves the show, but not the taxes on his Social Security benefits. Is there anything he can do about that?

1:54:22 - Jeff in Hammond asks Gregory the difference between the Windfall Elimination Provision and the Government Pension Offset? How do these affect your Social Security benefits?

2:01:21 - Gregory answers a flurry of questions from Facebook Live, texts from the app, and one from an email.

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01:17 - The next Gregory Ricks Live in almost full, and it's worth the drive. Reserve your seat for our wine, wisdom, and food experience and find out if you should be working with Gregory Ricks and Associates.

05:36 - How do rising interest rates change the balance between risk and safety?

15:50 - The Numbers were down for the day, but only slightly. The markets just finished three positive weeks in a row, but Gregory isn't so sure the uptrend will continue much longer. Tesla gets some new competition as GM announces an all-electric Cadillac in in the works.

27:21 - David in Uptown is 78 and receiving Social Security, but asks Gregory if he can increase his benefit by suspending it for a couple years? Gregory explains that after you turn 70, you get no credit for delaying a benefit from Social Security. If you don't need the money, many people donate it to charity.

35:00 - Johnna in Marrero is thinking about turning on Social Security early, but heard there's a penalty if he continues to work.

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