Winning at Life with Gregory Ricks: Financial Talk Radio
Your Wallet's Favorite Show - Investing, Insurance, Financial Planning, 401K, Retirement
The Daily Wrap: 04.18.19
April 22, 2019 01:40 PM PDT
01:39 - Gregory has some core rules for maximizing your Social Security benefit. Several factors go into your check amount, and Gregory breaks down how work credits and your starting age figure into your benefit.
04:52 - Initial jobless claims just set ANOTHER 50 year record low for the second week in a row. We haven't had this few people signing up for unemployment since before we landing on the moon.
13:11 - Political bickering over the Mueller report doesn't seem to have much of an effect on the markets, and clears the way for growth.
19:13 - How much money should you have saved by the time you're 40? 50? 60? One rule of thumb claims you should have 10 times your income by retirement age. Gregory thinks that may be a little low.
21:55 - Gregory answers questions from the comment cards at a previous Gregory Ricks Live, including how widows benefits work.
32:15 - Emily in New Orleans asks if she can continue to receive Social Security benefits from an ex's record if she gets remarried.
38:16 - David in Laffite asks if his mom could maybe get a larger benefit from Social Security by switching to her deceased spouse's record.The Daily Wrap: 04.17.19
April 22, 2019 12:54 PM PDT
01:08 - Gregory Ricks Live was last night at Keith Young's in Madisonville, and the place was packed, with a great response.
12:19 - More people are forced to retire earlier than expected, than forced to work longer than expected. How can you be prepared to retire before your preferred retirement timeline? The evolving job market also makes it easier for displaced workers to find a quick gig.
21:21 - New Mexico has the highest percentage of new residents from out of state who stated they are moving because of retirement.
28:14 - Gregory answers questions from the comment cards at a previous Gregory Ricks Live.
39:10 - Art in New Orleans asks Gregory's thoughts on some bond market strategies.The Daily Wrap: 04.15.19
April 17, 2019 12:20 PM PDT
01:23 - The financial side of Tiger Woods' amazing comeback win at the Masters begins with a dazzling $2.07 million first prize, and the guys that miss the cut get $10,000. Gregory reveals Augusta National has been on a property-buying spree in their area and may have big plans for development.
12:32 - It's Tax Day! Today is an ideal time to remember to plan for tax diversity in your retirement plans. About 50 million people are filing for an extension on their taxes. Roth is a good start, and there's other avenues to creating tax-free income streams.
22:43 - New home construction is far from it's peak before the real estate bubble popped in 2008.
26:59 - James has a list of the most common ways people fib on resumes.
34:56 - Notre Dame burns. It's not really a financial topic, but when a 900 year old historic cathedral burns, it's worth a mention.The Weekly Wrap: 04.13.19
April 16, 2019 02:57 PM PDT
01:20 - Wes Blanchard is the Estate Planning Attorney of the Total Wealth Authority. Gregory and Wes have a live event coming up in Madisonville this Tuesday at Keith Young's steakhouse.
05:34 - Wes Blanchard shares some of the pitfalls of dealing with Usufruct and Naked Ownership. He has seen people try and use Usufruct to settle property disputed upon death, only to have it put the parties in direct conflict. They could even be in conflicts with ducks.
34:31 - Eagle in West Monroe asks Wes how using usufruct can affect property values.
39:38 - A woman buys her son a house, and now that he's getting a divorce, does he have to split it with the wife?
46:14 - Tim in New Orleans picks Gregory's brain on how he should structure the business and ownership of a new piece of commercial property using a 1031 Exchange to defer taxes.
54:11 - Eloise in Covington questions if she will be hit by the Windfall Elimination Provision given her substantial work record in the private sector.
57:24 - Gregory has a book he wants to give you to change your thinking about how to save for retirement.
1:08:27 - Do you have to move your 401k when you retire? Ricky in Houma and his wife are both close to retirement and both have money in their company's 401k. Do they leave it there when they retire, or do they have to move it to an outside account?
1:12:36 - Ryan in New Orleans asks if his annual pay raise should go into his 401k.
1:14:33 - Marco in New Orleans has contributions to a pension plan from his old job that he needs to put somewhere. Gregory is leaning to toward a rollover IRA, but Marco is thinking about using that money to get into real estate.
1:19:14 - Ty in Metairie has money in a 403b from a previous employer, and asks Gregory his thoughts about rolling that money into a Roth IRA. How is that money passed along after death?
1:22:20 - Byron in Hammond had a dispute on his tax return 5 years ago, and hasn't filed a return since. Gregory urges Byron to get a CPA that specializes in dealing with unfiled returns, and remedy this situation immediately.
1:29:47 - Mike in Metairie shares some issues he stumble across during the process of signing up for Medicare.
1:37:31 - John in New Orleans hears pitches for investment tools that promise a 30% bonues credit just for signing up. Gregory says sometimes salesmen can be a little misleading by not stressing the difference between the account value and the income basis.
2:00:11 - Mike in Kenner is on the military healthcare program Tricare, and will be transitioning to Medicare soon. Gregory gives him an idea of what he can expect.The Daily Wrap: 04.12.19
April 15, 2019 02:21 PM PDT
05:15 - Jack Dorsey, CEO of Twitter, only eats one meal per day. We've noticed hyper successful people tend to have unusual daily habits.
13:53 - Gregory has a book he wants to give you to change your thinking about how to save for retirement.
17:06 - Are you saving money the right way?
21:11 - Be careful about mixing pre-tax money in your retirement savings with after-tax contributions. It's often impossible to separate those assets back out once they've been mixed.
23:19 - James and Gregory explore the crashing of US Steel, aka Steelmageddon.
26:10 - Gregory decodes some of the difficulties of having adequate healthcare coverage in retirement.The Daily Wrap: 04.11.19
April 13, 2019 12:13 PM PDT
01:15 - Uber's IPO has been dominating a big chunk of the financial headlines these days. IPOs are generally too risky to recommend for a client, but we certainly get a healthy crop of questions about high-profile IPOs.
04:47 - A somewhat familiar idea resurfaces: How about the IRS does some people's taxes for them? The idea has support on both sides of the aisle, and the it appears to fit Gregory's observation that the tax system is evolving toward a flat tax.
11:01 - Gregory is not amused by the wacky commercials for the Ron Burgundy Podcast from iHeartRadio. James is a fan of Will Ferrell, but not so much the commercials.
20:45 - Gregory has a book he wants to give you about creating tax-free income streams in retirement. James and Gregory review some of the upcoming Gregory Ricks Live events including a new Lunch & Learn focused on reverse mortgages.
29:13 - The Federal Reserve says they are still open to raising rates before the end of the year. Gregory thinks a rate hike could happen.
33:23 - A caller asks if she had enough of an earnings record to be exempt from the Windfall Elimination Provision.The Daily Wrap: 04.10.19
April 11, 2019 09:16 PM PDT
01:30 - Gregory reads the tea leaves from the new Fed nominee Stephen Moore interview on Maria Bartiromo's show.
03:05 - If you have unfiled taxes, you will not get a return if it's more than 3 years late.
14:54 - Are more people willing to ditch their house in retirement for an RV?
23:32 - Fixed annuities can be a good solution for the investor who is risk averse.
29:25 - Randoplh in Gretna asks Gregory's thoughts on Indexed Universal Life Insurance policies.
37:33 - Carol in New Orleans is 29 and new to investing, and asks Gregory's thoughts on how to get started on the right track. Gregory stresses the importance of starting with an emergency fund, and then lays out a few options for getting additional savings to work.The Daily Wrap: 04.08.19
April 09, 2019 10:04 AM PDT
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?The Weekly Wrap: 04.06.19
April 08, 2019 07:12 PM PDT
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.The Daily Wrap: 04.04.19
April 05, 2019 09:07 AM PDT
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.
"Winning at Life with Gregory Ricks” is LIVE weeknights 7-8 and Saturdays 10am-1pm (central times) on iHeart's NewsTalk 99.5 WRNO in New Orleans, iHeart's Newstalk 104.9 WBUV in Biloxi, 12 stations across the Supertalk Mississippi network, and 1160 AM Big D Talk in Dallas. Gregory and James keep you informed about what's going on with your money and the financial world. As a hall of fame financial advisor, Gregory also helps people with their financial situations through calls, texts from the app, and social media.
About Gregory Ricks @GregoryRicks - Winning at Life, Financial Talk Radio, Registered Investment Advisor, Financial Planner, Total Wealth Authority, Income Planning, Investing
Gregory ricks @gregoryricks - winning at life, financial talk radio, registered investment advisor, financial planner, total wealth authority, income planning, investing's Friends
Subscribe to this Podcast