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!!!
When the U.S. Congress passed the Revenue Act of 1978, it resulted in the first 401(k) plan, which took the costly burden of financing retirement pensions off of the backs of employers and onto the backs of employees. At one time, over 80 percent of workers retired with a pension. Today less than 18 percent of American workers have a pension in place. And if many companies get their way, they will be carrying fewer and fewer pensions as time goes on. Many pensions are underwater or will be because of the lowest interest rates in U.S. history on bonds, causing pension plans to take more risk. We'll explain why its happening and what you should do if you are offered a lump sum. Then Fox News Contributor Gary Kaltbaum joins us for the Q & A. A great show you don't want to miss MASTERING MONEY is on the air!
Although many people don’t think about owning life insurance, many, many people do. Life insurance has evolved from just a few choices in the old days, like whole life and straight term, to more advanced and flexible forms of Universal Life insurance which can be tailored to fit your needs for tax advantaged retirement income that does not trigger taxes on Social Security, leaving a tax free legacy, and tax planning goals. Unlike the policies of old, today’s next generation of cash value life insurance can deliver the goods on multiple benefits with the same dollar. For example, quite a number of cash value life insurance policies on the market can double as a LONG TERM CARE funding vehicle. You get triple the benefits with the same insurance dollar. Today we'll review these policies and show you why many people are converting IRAs to tax free life insurance, rather than ROTH IRAs. An important show you don't want to miss MASTERING MONEY is on the air!!!
The investment community and the financial media tend to obsess over interest rates—which represent the cost that consumers and corporations PAY for the use of someone else's money. Why is it such a big deal? Well, if you understand how interest rate changes ripple through the economy and cause major, trillion dollar mutual fund companies to buy or sell things, you will be more clear on what is making the market tick. You or I can’t possibly keep up with robotic, computer-driven models used by the major mutual fund managers. They have responsibility for more than fifteen trillion dollars in the market . ...And .their jobs DEPEND on staying a step ahead of YOU! Today we'll show you how to get that step back!! Then, Estate and Probate Attorney Libby Banks joins us to reveal how to choose beneficiaries under the new Secure Act. Don't miss it! ...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
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!!!
Over the past century, markets have crashed A DOZEN TIMES, several times by more than fifty percent, leaving people’s finances and dreams in disarray for YEARS. Not only is money lost, but TIME is lost. It takes time to build up a nest egg. No one wants to START OVER in retirement. If you’ve been saving for thirty years for your dream retirement, it makes no sense to go back to where you were ten or fifteen years ago with your money. Can that happen? Well of course, it DID happen.... TWICE... in just the last twenty years! The S & P is soaring like an eagle right now, but won't fly forever. That’s why it's so important to CHANGE your investment focus as you near or enter retirement. Your time horizon shrinks for re-building a portfolio. Today, we'll review the precise steps to take right now for PROTECTING what you have, LOWERING your risk, increasing your income and lowering your fees. Then CPA Nick Stefaniak joins us to help lower your taxes!! A great show you don't want to miss MASTERING MONEY is on the air!
Although the aggregate divorce rate among Americans has fallen in recent decades, there has been a somewhat dramatic increase in the number of divorces for couples over the age of 50, according to the Financial Planning Association. This rise of so-called grey divorces has created a number of uncommon and complex issues for those getting divorced. Some divorces are simple, but others are complicated. Dividing ordinary bank accounts is not so hard, but how does a couple go about splitting a pension, a 401k, 403b, or other tax qualified plan under the ever-watchful eye of the IRS? Answer: very carefully! Today, we'll review what the steps are for you or someone you may know, and then health insurance and medicare expert Shelley Grandidge joins us to help just about everybody! A really interesting show you don't want to miss MASTERING MONEY IS ON THE AIR!!
If you set aside twenty thousand dollars a year for thirty years in a tax deferred account you will have six hundred thousand dollars of principal if you earn zero percent. But if you average six percent, you will have over a million dollars in twenty four years. Do most investors average six percent over time? In depth studies of 401k plans show that most investors average far less than over twenty or thirty years. It all depends on whether you are at the beginning of your career or near the end. Near the end, NOT LOSING is more important than the rate you make. For younger workers, put your head down, go to work, keep getting paid, keep trying to save, and keep stuffing your 401k plan every single year. Today we'll review the rate of return and WHERE to invest to build and protect a million dollars. A fact filled show you don't want to miss MASTERING MONEY IS ON THE AIR!!