What are the the moral or ethical considerations of using strategies and loopholes to utilize government programs? Is this ethical? It cheating? Is it getting close to fraudulent?
John and Devin go through some scenarios. For more information, visit the show notes at http://www.bigpictureretirement.net/079
While we move into our new recording studio, and with all the new listeners coming on board, we are replaying an episode from 6 months ago: The Tatoo Factor and Predictions that Didn't Happen
Devin shared some examples of pretty dire predictions by investment professionals, and asked David and Andrew how they would respond.
David points out that the fear of losing everything is pretty compelling – there’s a natural instinct to avoid danger.
Andrew recommends that clients focus on their individual plans that has been prepared for their unique situation and risk tolerance.
For more information, visit the show notes at http://www.bigpictureretirement.net/052
Devin talks about good reasons to file for Social Security at age 62.
Every situation is different, and some folks will benefit more if they file later, but there are many people for whom it makes sense to file early:
For more information, visit the show notes at http://www.bigpictureretirement.net/episode-77-5-smart-reasons-to-file-early-for-social-security/
Devin and John welcome Brandon Renfro to talk about Real Estate Investment Trusts (REIT).
A REIT is a packaged investment product, like a mutual fund, that is invested in real estate related assets.
There are a couple of different types of REITS that you can buy.
For more information, visit the show notes at http://www.bigpictureretirement.net/076
For many, going to college is the goal, but the costs can be overwhelming. If you’re a parent, or a grandparent, you’ve got to be thinking, “How do I keep these children from going into that hole?”
John and Devin share ideas and tips for how to make college affordable for you or your children/grandchildren.
For more information, visit the show notes at http://bigpictureretirement.net/episode-75-ways-to-pay-for-college
Devin and John continue the discussion from Episode 73: The Right Way To Qualify for Medicaid for Long-Term Care
Single person: you can have a house, you can have a car, you can have your funeral paid for, you can have $2,000.
How can you bring your assets down below the $2,000 limit? There are quite a few good options.
Now, if you're part of a married couple, you have a different set of issues.
As you can see, this stuff is really complicated.
For more information, visit the show notes at http://bigpictureretirement.net/074
What is the right way to qualify for Medicaid for long-term care expenses? Listen in as John and Devin discuss Medicaid eligibility factors, non-countable assets, and what - if anything - needs to be done with assets now to possibly protect these assets down the road.
For more information, visit the show notes at http://www.bigpictureretirement.net/073
Warren Buffett made a bet, that came to be known as Buffett’s bet, that the S&P 500 would outperform any basket of hedge funds in the next 10 years. It started on the 1st day of January 2008, and was supposed to conclude at the end of 2017.
If you look the final results, the S&P annualized gain was 7.1%, which is impressive considering that this challenge started during a terrible time in the market. The group of hedge funds didn’t even earn an average of 2.1% during that period of time.
It’s weird that Buffett made this bet, because he has made his fortune by buying individual stocks. This bet was contrary to the way he invests personally.
Letter to shareholders In the event of his death, he directs the trustees to put 90% of the trust funds value in S&P 500 index funds.
It does raise the important question, in your own portfolios, should you just stay to with a packaged product?
For more information, visit the show notes at http://www.bigpictureretirement.net/072
This idea of dividends sounds good, but chasing yield often ends badly.
Dividends aren't guaranteed, but having the right balance for your situation can benefit you when it comes to dividend-paying stocks.
Learn what a dividend is and what to look out for when looking at dividend stocks at http://www.bigpictureretirement.net/071
Is a credit score important while you’re in retirement? That depends on your situation.
For some people, maintaining good credit can continue to be valuable. For others, who won’t be doing anything that requires credit, there’s no need consider a credit score when making decisions.
Find out more at http://www.bigpictureretirement.net/070
Managing your retirement savings can require a lot of knowledge and decisions. Lots of folks don’t want to worry about which funds to be invested in, and what asset allocation is best for them. If that sounds like you, a target date fund might be right for you.
Each fund is identified with a year, and generally you would be picking a fund that corresponds to the date when you plan to retire. They’re very popular because they are easy. You can just put your money in one fund, and you’re done.
The way the investments are made in the account, the closer you are to the target date, the more conservative the investments become. The further you are from the target date, the more aggressive the investments will be.
If you are considering a target date fund, there are a couple of things to figure out. For more information, visit the show notes at http://www.bigpictureretirement.net/069
For more information, visit the show notes at http://www.bigpictureretirement.net/068
Devin and John explore one popular alternatives to traditional health insurance: health care sharing arrangements.
John has about 20 employees, and he provides health insurance to the employees (but not the families.) This is a high-deductible plan, so the employee still pays $3,000 to $4,000 per year before the insurance kicks in. So, as a general rule, John knows that he (and his employees) will see virtually no benefit from this very expensive coverage.
Because a health care sharing arrangement is not traditional health insurance, there are some important secondary results. For example, these plans don’t make you eligible to use a health savings account (HSA). It also doesn’t count as health insurance to be deducted as self-employment insurance premiums on your taxes.
Bottom line: if you are out there in the open market looking for health insurance, you should at least explore these health care sharing arrangements.
For more information, visit the show notes at http://www.bigpictureretirement.net/067
David Stein, host of the Money For The Rest of Us podcast, will explain the importance of trade, and how the trade, and trade wars, might impact you and your retirement.
For more information, visit the show notes at http://www.bigpictureretirement.net/066
Devin brings on special guest Andrew Comstock to talk about what's going on in the market and what we can expect moving forward
The Census Bureau has announced that by 2030, senior citizens (65 and older) will outnumber people aged 18 and under. What will this mean for health care costs and the security of pension plans?
John and Devin also talk about a recent app that sold millions of people’s Facebook information. Is this truly a data breach of sorts?
For more information, visit the show notes at http://bigpictureretirement.net/065
Each month or so, Devin and John devote an episode to answering listener questions. This week, they’ve picked two great questions submitted by listeners like you.
Devin answered this question: “Is this a good time to invest?”
John tackled the concern from a listener who asked: “Is there any way I can keep a nursing home from taking my Social Security?”
For more information, visit the show notes at http://www.bigpictureretirement.net/064
Not all accountants are created equal. Some are just document processors. They get you in, do your return and send you on your way. Advice? Ha! Others actually care enough to ask the important questions and give you guidance that improves your tax outlook. For more information, visit the show notes at http://www.bigpictureretirement.net/hiring-right-tax-advisor/
You’ve probably heard the Biblical account of Jacob & Esau. Hidden within this story is a powerful lesson about estate planning that is still overlooked today.
For more information, visit the show notes at http://www.bigpictureretirement.net/episode-002-lesson-from-jacob-esau/
As you approach your 60s, the hot question becomes, “When should I file for Social Security?”
It’s an easy question, right? You just figure out when you’re going to die, and then do the math.
Unfortunately, the world doesn’t work like that.
Devin points out that the real question should be, “What if I live longer than expected?
For more information, visit the show notes at http://www.bigpictureretirement.net/061
Should I buy long-term care insurance? Should I keep the long-term care insurance I already have? These are important questions, and there are no easy answers. Long-term care is expensive, but long-term care insurance is also expensive. When you start looking at some of the statistics, it can get scary. But thankfully, the statistics don’t show the whole picture. Once you consider all the issues and factors, the big question is managing the risk of needing financial assistance with long-term care vs. how much it is going to cost to manage the risk. There are three ways to pay for long-term care: 1) Self-funding through personal assets 2) Through access to government benefits, either VA benefits or Medicaid 3) Long-term care insurance For more information, visit the show notes at http://www.bigpictureretirement.net/060
How do you figure out how much money you're spending on your investments?
In this week's episode, Devin and John talk about the types of fees you might be paying, and how you can figure out what they are.
For more information, visit the show notes at http://www.bigpictureretirement.net/059
One in three people will eventually have some type of dementia. By the time you reach age 80, your chances of having Alzheimer’s is about about 50%, meaning that it’s very likely for at least one spouse in an older couple to have cognitive decline.
Which brings us to a serious question: Can your spouse give full consent to sexual activity if they have diminished memory and understanding? Devin and John discuss a case where the husband was charged with criminal rape of his wife who had Alzheimer’s disease.
For more information, visit the show notes at http://www.bigpictureretirement.net/058
Looking at changes from the investment perspective: The change in the environment of shopping may impact your investments. Investment in these new technologies may provide solid returns.
On the other hand, investments in physical retailers and certain types of real estate may do poorly.
It’s definitely worthwhile to consider what the future might look like when you’re selecting your investments, because changes in the economy may significantly impact your retirement portfolio.
For more information about the Amazon Effect on investments, visit the show notes at http://www.bigpictureretirement.net/057
“Do I get a step-up in the basis of a property that I inherited?” This is the first of two questions in today's "Listener Questions" episode.
Then John answers a question about leaving an inheritance to someone who may face a divorce. Should you do something special in this situation?
To read more, or find more information, visit http://www.bigpictureretirement.net/056