Part 2 of the conversation about active versus passive investing with guest Rick Ferri, author of Smart Money.

For more information, visit the show notes at https://www.bigpictureretirement.net/098 

This week, Devin welcomes Rick Ferri to the show to talk about active versus passive investing.

But before the interview gets started, John and Devin have an entertaining conversation about the recently released 2019 Social Security and Medicare adjusted numbers, including:

• The increase in Social Security benefits
• Medicare premiums
• Adjusted Social Security earnings limit
• Higher limit on how much money you will pay Social Security benefits
• and more!

For more information, visit the show notes at http://www.bigpictureretirement.net/097

In light of the recent market activity, Devin and John thought it would be useful to re-broadcast their original episode on the lessons they've learned from past market declines.

Lesson 1: Market declines are normal
Lesson 2: No one can consistently predict market movements
Lesson 3: The best days hang out with the bad days

...and more two more you can read about at https://www.bigpictureretirement.net/lessons-learned-from-market-declines

On the surface, Social Security survivor benefits seem pretty simple: at the death of the first spouse, the surviving spouse is eligible to receive his or her own benefit, or the benefit of the deceased, whichever is greatest.

In today's show, Devin and John go over:

• Who Is Eligible for Survivor's Benefits
• How Much Is The Spousal Survivor Benefit
• The RIB LIM, or "Widow's Limit"
• and Restricted Filings

For more information, visit the show notes at http://www.bigpictureretirement.net/095

Important benefits offered by the Department of Veterans Affairs (VA) are changing.

Devin and John talk about:

• Improved Pension with Aid and Attendance
• Clearly Defined Assets Test
• Adding A Look-back Period

For more information, visit the show notes at http://www.bigpictureretirement.net/094

Part 3 in the Big Picture Retirement series on Drawdown Strategies: Brandon Renfro talks about "setting a floor."

For more information, visit the show notes at http://www.bigpictureretirement.net/093

Part 2 in our series. In this episode we answer the question "How are you going to take your money out so that it lasts?" Then, once you have a plan for which accounts you should access in which order, how are you going to figure out the amount of income to take out from your portfolio?

For more information, visit the show notes at https://www.bigpictureretirement.net/092

When you stop working, you've put aside some money into different types of accounts, and maybe you have a pension, or some rental property, or other investments. How do you start converting those assets into an income stream that will last for the rest of your life?

Brandon Renfro, Ph.D., joins Devin on a discussion about:

• The tax torpedo
• The Net Unrealized Appreciation Rule
• Provisional income and how much of your Social Security is taxable

For more details, visit the show notes at https://www.bigpictureretirement.net/091

There are a few areas within Social Security that you could mess up without even meaning to do things wrong.

One of my most trusted mentors has often told me, "Big doors swing on little hinges."

I've found that to be applicable to many things in life and it's certainly true in retirement planning. The small decisions you make, when stretched over long periods, can have big consequences.

Here are the 5 Social Security mistakes that can cost you dearly when you retire.

There's more to learn at http://www.bigpictureretirement.net/090

Did you know you could buy a horse as an investment in your IRA? What about real estate and other assets?

Kirk Chisholm, of Innovative Advisory Group, joins us to explain how self-directed IRAs work. They a tricky thing, so you need to understand the rules before taking any action.

You will learn what a Disqualified Person is, the rules behind handling real estate in an IRA, and what other things you can find in a self-directed IRA.

For more information, visit the show notes at http://www.bigpictureretirement.net/089

What’s the big deal about cryptocurrencies? And is it too late to get in now?

Joe Saul-Sehy from Stacking Benjamins joins us to talk about what cryptocurrencies are and what we should be looking out for in the future of Bitcoin.

One of the benefits Joe shares is, “It is a way to get governments out of transactions, and also a way to make transactions happen faster.” It’s sort of like moving money into the currency of a different country, except that it isn’t (so far) regulated by the government, and transfers can happen super-fast.

Is this a currency, or is this an investment? Listen to learn more.

For more information, visit the show notes at https://www.bigpictureretirement.net/088

Continuing on from last episode's discussion about buying rental property for retirement income, Devin and John talk about the mechanisms for evaluating a rental property.

...and John will entertain you with taxes.

For more information, visit the show notes at http://www.bigpictureretirement.net/087

Have you thought about using rental properties for retirement income?

Is rental real estate a good choice for retirement income for you?

John and Devin go through some of the benefits of rental property.

For more information, visit the show notes at http://www.bigpictureretirement.net/086

People are always talking about probate, and the many ways to avoid probate.

Probate is the legal process of figuring out who gets your stuff.

One of the biggest misconceptions about probate is that your estate does not go through probate if you have a will.

Be sure that if you have a will, your estate will go through the probate process. But here’s the thing: this process doesn’t apply to non-probate transfers.

For more information, visit the show notes at http://www.bigpictureretirement.net/085

The big benefit of the Roth IRA is that you fund it with after-tax money and it grows tax free, and then when you take it out, it is also tax free, if you meet the qualifications.

The big problem with a Roth IRA is that there are income limits to be able to make contributions to a Roth IRA. There are a lot of people out there who can't contribute to a Roth IRA.

So, how do you contribute to a Roth IRA if you make too much money? You use a backdoor Roth IRA.

We have really good notes for you. To read more or to share the show with someone else, visit http://www.bigpictureretirement.net/084

By the end of 2016, there was $660 BILLION dollars in Roth IRAs. So, lots of people are getting this right.

Where you can get some of it wrong

1.It lets you put the money in after tax, so you don’t get to deduct the money from your income in the tax year. But, you get to take the money out tax free.

2.If you put money into a Roth, you can pull out your contributions at any time without taxes or penalties

3. You can withdraw from the Roth at any time to purchase a home

4. There’s no required minimum distribution from a Roth IRA

For more information, visit the show notes at http://bigpictureretirement.net/083

Is there any value in doing your codicil in blood?

A codicil is an amendment to a will. They can be used when there is a smaller change and it seems easier than doing a whole new will.

Is there a time and place for a codicil? Yes, if no one is going to be mad and challenge the change that you've made.If you're changing beneficiaries, or executors, and they're going to be upset, you need to do a whole new will.

For more information, visit the show notes at http://bigpictureretirement.net/082

Many industries utilize a lot of different types of designations, and that's also true for financial advisors. What do they all mean, and should you care?

Devin asked John, "How many designations do you think there are for financial advisors?" John thinks there is really no way to know that for sure. At FINRA, one of the regulatory bodies for financial advisors, there is a page of 180 designations listed, as of today, and close to 100 of them begin with the word "Certified."

Why do these designations even exist?

Listen in for more, or read the show notes at http://bigpictureretirement.net/081

Listener Becky asks if it is legal to place a surveillance camera in the room of your loved one, specifically in grandma's nursing home.

Devin also answers the question "Does keeping a balance on my credit card help my credit score?"

For more information, visit the show notes at http://bigpictureretirement.net/080

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:

• You need the income
• You Are Single and Have Health Issues
• Issues Related To Your Spouse’s Benefits
• Survivor Benefits
• Minor or Disabled Children

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