The New Secure act passed by Congress and signed into law in December by President Trump has some good news and somebad news, depending on the size of your IRA accounts, and whether or not you want to leave money to heirs with a bit of tax savings. The Stretch IRA is gone, and some people can wait until age 72 to begin their RMDs, but others can't. We'll discuss that in the Market Intel segment followed by estate planning attorney Libby Banks who will explain why many trusts, perhaps yours, will need to be reworded to match the rules of the new legislation. You don't want to miss this fact filled show ...MASTERING MONEY IS ON THE AIR!!
Nothing is a bargain in this world unless it serves a purpose and helps you achieve a goal. Managing your own money to save a fee can work, but we all know the do-it-yourself approach seems to work BEST when markets are RISING! Rising markets tend to lift ALL boats. As the saying goes, in a bull market, EVERYONE is a genius! But the real measure of how well your portfolio is being managed is not so much when markets are UP, but more when markets fall flat and then reverse. How do you KNOW if your money is in the right place? Well, lets put it this way. If you find yourself FEARING the next bear market rather than relishing the idea, your money is probably allocated poorly. Today, we'll review the FOUR KEY QUESTIONS you should be asking yourself right now, and how to arrive at clear answers! MASTERING MONEY is on the air!!!
Most of us can agree on one main goal for 2020: make life simpler and easier. Behavioral economists have proven that the best financial decisions are those that are pre-considered and then AUTOMATED. If your bills get deducted on auto-pay, you are never late with a bill. Your credit score goes up. You never pay late fees. If your strong 401(k) contribution is automatically deducted from your paycheck for 30 years, you end up a millionaire at retirement. Today we'll outline how to get your money running like a well oiled machine--one where you get PAID to own your investments, and you prevent life surprises from turning into financial emergencies! You're going to love today's show MASTERING MONEY is on the air!!!
Is it better to invest in Dividend Paying stocks or stocks that don’t pay a dividend? The answer is ….YES!..BOTH are good and diversification is a good thing! Smart dividend investors are very picky about the stocks they select. They like getting paid to own their stocks, and they like owning companies that keep making profits and growing their sales year after year. Today we'll discuss how make sure your stocks meet written stipulations for dividend yield, dividend payout ratio, dividend growth rate, debt ratios, earnings growth, and credit ratings. You don't want to miss that! Then health insurance and medicare expert Shelley Grandidge joins us for the Q & A. Get ready, MASTERING MONEY is on the air!!!
We all know the difference between a mutual fund, a pension, and a savings account . You don’t spend too much time thinking about what a savings account IS, but rather, what it DOES for you. The same with a pension. A pension has one purpose: to pay you an income you can never outlive. Easy stuff. Mutual funds have typically one main purpose: to help you try to grow your money, but with more risk than a bank account or a pension. So, what is an annuity? Well, it can combine all of these features in one instrument. Today, we'll break down the basics of annuities to help make them simple and easy to understand. A fact filled show you don't want to miss, 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!
Everyone knows how Social Security works—the longer you wait to start the income, the higher your future and permanent 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?
Statistically, most of the serious accidents-- and even the deaths that occur on mountain climbing expeditions--happen NOT on the way UP, but on the way back down. Ask any mountain climbing expert, they'll tell you: Coming down is much more treacherous than going up. … And the higher the mountain the more dangerous the descent. When it comes to your investments and the four phases of your financial life, it’s very similar. You've been on a long ascent UP the mountain, financially speaking. It is known as your ACCUMULATION phase. But the higher the market goes, and the longer it lasts, the more dangerous it will be on the way down. Today, we'll show you how to retire and STAY retired. You don't want to miss it....MASTERING MONEY is on the air!!
American millennials are approaching middle age in worse financial shape than every living generation ahead of them, lagging behind baby boomers and Generation X despite a decade of economic growth and falling unemployment. New data show that millennials may never catch up with the generations of Americans that came before them. The Fed analyzed income, debt, asset, and consumption data and found that millennial households had an average NET WORTH nearly 40% less than Gen X households had in 2001, and about 20% less than baby boomer households had in 1989. At the same ages, Gen X men working full time earned 18% more than their millennial counterparts do now, and BABY BOOMER men earned 27% more when adjusting for inflation, age, and other variables. How could this affect YOUR retirement? Stocks may not keep their values due to weakening demand and the Social Security system may deplete faster than we thought. Today, we'll review the Wall Street Journal report. That and much more...MASTERING MONEY is on the air!!!