Since the summer of 2019, there has been a rising trend among large companies to offer BUYOUTS of pension benefits, which can result in a substantial lump sum to a person on the verge of retirement--maybe you. So, if you're faced with the decision, which is better: Taking the buyout or staying with the pension and hoping the company will never reduce your benefits? In October, General Electric—once a FINANCIAL GIANT in the economy -- became the latest U.S. company to announce major changes to its defined benefit pension plans. GE announced it would be FREEZING benefit accruals for approximately 20,000 active employees! It further said it would be offering lump-sum buyouts to about 100,000 FORMER employees who have not yet begun their pension benefits! You may be shocked to learn what world famous CPA Ed Slott has to say about which is better, the lump sum or the pension? We'll review Mr. Slott's insights and then mortgage expert Mitch Boxberger joins us for the Q & A. Don't miss today's show, MASTERING MONEY is on the air!!!
Today on Mastering Money...It’s a MOTLEY FOOL MONDAY!! The Motley Fool Money Show is one of the most popular stock market talk shows in America, featuring top market experts and heard by millions of listeners coast to coast—including Saturdays right here on Money Radio! After an update of the markets and today's breaking financial news stories, we'll take you to an exclusive broadcast of the Motley Fool Money Show--plus money-making and money-SAVING ideas from Steve you won't want to miss! -- MASTERING MONEY IS ON THE AIR!
Safety MATTERS in retirement. Going backward due to a market crash is a foolish financial blunder that we ALL want to avoid! A big setback results not only in the loss of money but the loss of precious TIME. You can make money back, but you can't make back the time you lose. Those who retired in 2007 discovered in 2008 that ten years of stock market gains can be wiped out in just ten WEEKS of stock market losses. One day, every market reverses. However, those who keep the predominant portion of their money out of harm’s way—safely protected-- need not worry about devastating their life savings. Over 200 billion dollars a year go into annuities, with much of it being used in IRA rollovers from company plans. The regulatory environment for annuities has never been tighter and more stringent. We'll review that today and then estate planning attorney Libby Banks joins us for the Q & A. You don't want to miss today's show MASTERING MONEY is on the air!
We typically don't give much thought to inflation, but over long periods, it can wreek havoc with the purchasing power of our dollars. Over many years, inflation has averaged about 3% annually, though there have been times when it has been very high and times when it has been very low. In 2015, for example, inflation averaged close to 0% or less, while it was 6% in 1982 and more than 13% in 1980. Even at 2 or 3 percent, something that costs $100 dollars now would run you about $243 dollars in 30 years. Today we'll peek at some popular products you bought back in the late 1988 when George Bush beat Michael Dukakis for president, and it may really open your eyes! Steve will talk about the Blue Diamond Dividend Plus Growth portfolio and travel agent Ruby Kelly joins us. A fun and fact-filled show today you don't want to miss..MASTERING MONEY is on the air!!
Millions of Americans, and perhaps you, enjoy the flavor and nutritional benefits of America’s dairy products. Whether it’s a cool glass of milk, a bowl of ice cream, frozen or regular yogurt, pizza, or a nice grilled cheese, dairy remains a staple of the American diet. But dairy isn’t just a healthy and delicious food group – it also contributes greatly to the American economy. Reports show that the dairy industry accounts for a full 1 percent of the U.S. Gross Domestic Product, creates nearly 3 million U.S. jobs that generate around $159 billion dollars in annual wages. Today, we'll dig into what's happening in this industry right now-- and it may shock you! Then health insurance and medicare expert Shelley Grandidge joins us. You don't want to miss today's show...MASTERING MONEY is on the air!!
The S&P 500 is having its best run since 2013, but individual investors are fleeing stock funds at the fastest pace in decades. AND THAT, as ironic as it sounds, is a BULLISH sign, and potentially WHY the market may continue to move higher, says a Wall Street Journal report. As we've seen so often in the past, stocks climb a “Wall Of Worry" on their way to higher price levels. According to the Journal, we are seeing exactly that right now--investors have cashed out of stock mutual funds in record numbers in 2019, yet the market continues to rise. This phenomenon shows even more strength and may take the market higher, according to analysts. We'll review exactly what the analysts are saying, what you need to know, and what you need to DO right now with your investment portfolio. Don't miss today's show MASTERING MONEY is on the air!!
Everyone knows how Social Security works—the longer you wait to start the income, the higher your future income will be when you finally turn it on. Your future income rises mathematically by a factor of five-point two-five percent until full retirement age, then eight percent a year until age seventy. You might think that most people wait until they can get the highest income by putting off Social Security Benefits until age 70. But statistics show that over NINETY-EIGHT PERCENT of Americans start their income much sooner. Is that a smart idea, or not so smart? Today, we'll break it down, then Steve has specific tips on how to build more retirement wealth the SMART WAY...Don't miss it... MASTERING MONEY is on the air!!!
If you’re smart, tax planning is a year-round activity. And, if you are even smarter, you will pay attention not only to the ALLOCATION strategy for your investments, but also your LOCATION strategy. Knowing WHERE to locate your various investments inside OR outside of IRAs and Roths is something that is easily done with a little planning upfront. For example, many investors will pay taxes on mutual funds this year even though they never took out a penny from their account. They--and maybe you--will get charged for capital gains that occurred in the fund during the year even though you didn't cash in. Today, we'll point out to avoid unnecessary taxes with your investments and then get some planning insights from CPA Nick Stefaniak. An important show you don't want to miss MASTERING MONEY is on the air!!
The City of London’s decision to revoke Uber ’s operating license opens a window into what drivers say has been a fairly common practice of sharing or renting out DRIVER accounts—both at Uber and Lyft. Transport-for-London, the city’s main transportation regulator, said recently it determined that over 14,000 Uber rides in London in late 2018 and early 2019, were NOT conducted by authorized drivers, but by others who had been able to substitute their photos to use a real driver’s account! Why is it a big deal? The obvious reason is safety. Studies reveal there have been more than 100 Uber drivers in the U.S. who have been accused of sexually assaulting or abusing passengers over the past 4 years. You don't want to miss this fascinating Wall Street Journal report. Then, Medicare specialist Shelley Grandidge joins us. We have a great show for you today...MASTERING MONEY is on the air!!!