Episode 71 – Financial Planning Q & A


In this episode I take some of the questions I receive from Quora.com and answer them

Question 1 – How should I decide whether a risky investment (large upside and downside) should be made in a Roth account or a taxable account?

Question 2 – If you are starting a new job, are there any reasons you would not rollover your old employer’s 401k to the new one?

Question 3 – How are financial planners usually paid?

Question 4 – Who is liable for the taxes of a deceased individual if the estate doesn’t have the funds?

Question 5 – What is a good age to raise the contribution percentage of a 401k?

Question 6 – Can you collect social security if you run an all cash business?

Question 7 – Is “Buy term and invest the rest” dead?

Question 8 – What’s the most underrated financial planning advice, which is highly effective?

Question 9 – Why do banks give you so much less return than you get with index funds?

Question 10 – What was your top learning from 2008 -2009?

And a few more.

Episode #70 – Medicare Planning in Arkansas


Jae Oh, CFP is back to discuss Medicare planning in Arkansas.

Arkansas is not as competitive as some of the larger states, like Arizona, but there are still a number of plans, Part C and Supplemental policies for you to choose from.

As always, go to Jae’s website at www.maximizeyourmedicare.com for Jae’s book and sign up for his weekly newsletter too.

Episode # 69 – Medicare Planning in Arizona


Medicare Part C and Medicare Supplement policies are very competitive in the great state of Arizona.

Of course, with more choices there are also more considerations consumers need to think about.

This episode is a good place to start.

As always, go to Jae’s website at www.maximizeyourmedicare.com for Jae’s book and sign up for his weekly newsletter too.

Medicare Planning In Alaska


In this episode we bring back Jae Oh, CFP from MaximizeYourMedicare.com to review the various Medicare options in Alaska.

Listen to understand as Alaska has some interesting dynamics with Medicare.

Episode #65 – Medicare Options In Alabama


Join Jae Oh and me as we discuss Alabama in our state-by-state analysis of the various Medicare options in each state.

Over the course of these episodes, we’ll discuss Traditional Medicare, Traditional Medicare with Part D and Medigap, i.e., Medicare Supplements, and Medicare Part C, i.e., Medicare Advantage.

Jae Oh, CFP, is an expert contributor on www.mymedicareanswers.com, a website powered by Humana, one of the nation’s largest carriers of Medicare plans. Mr. Oh is the author of a top-rated, top-selling book on Medicare, titled Maximize Your Medicare (2018 Edition): Understanding Medicare, Protecting Your Health, and Minimizing Costs, available in print and ebook formats.

I highly encourage you go sign up for his newsletter at www.maximizeyourmedicare.com.



Episode #64 – Talking CCRC’s with Brad Breeding, CEO of MyLifeSite.net


In this episode, we interview Brad Breeding the Co-Founder and CEO of MyLifeSite.net which is the premier website for all kinds of information about CCRCs.

Just a ton of free information for consumers, advisors, even communities. Like the Consumer Guide To Evaluating CCCs, which I highly encourage everyone to get. It’s free folks!  Get it here.

Brad and I discuss the history of CCRC’s. The issues they face if they are a not-for profit. And, most importantly, the viability of CCRCs with an aging population. How do you price the fees accordingly to make sure you are well-capitalized to take on the risks inherent with providing long term care?

The first thing Brad recommends to anyone considering a CCRC is to see if they have an agreement with an actuarial company that provides analysis. If the CCRC does not, how exactly are they pricing future costs?

That is a critical, maybe the most critical, factor to consider when it comes to choosing a CCRC. Will they be there when you need them most?

The Long Term Care Insurance industry shined a light on what can happen if longevity risk is mis-priced.  Try buying a policy today from Penn Treaty or Genworth. Not going to happen.  Market mistakes cost those companies dearly.

So, you want to make sure the same thing doesn’t happen to you, especially given this is probably the biggest expense you’ll ever make.

Do your research.  Seek help in your analysis if you need.  But whatever you do, don’t just read the glossy sales brochure.  You need to dive in deeper than that. Mylifesite.net is THE place to start.

Episode #63 – Medicare Planning Discussion With Jae Oh


This is a podcast you NEED to listen to… Why? Because everyone, and I literally mean EVERYONE, will come into contact with Medicare at some point. And the more you know about Medicare, the better off you’ll be.

Did you know that by only having Medicare Part A and B, you still have unlimited financial liability? There is no maximum out of pocket for you.

Medicare Advantage and Medigap

So, you need to get either a Medicare Advantage or a Medigap policy to go along with your Parts A and B.

Maximize Your Medicare

What are these and what do they cover you ask? Great question. I have the same questions which is why I brought on Jae. Jae is the author of the book, “Maximize Your Medicare” and can be found at his website www.maximizeyourmedicare.com.

Highly recommend you sign up for his free newsletter there too. It comes out every Saturday.

Prescription Drug Coverage

Did you know that most Medicare Advantage plans include prescription drug coverage? I didn’t.

However ALL Medicare Advantage plans must include an out-of-pocket maximum limit.  That’s a big deal.

Switch from Medigap to Medicare Advantage? No problem. The other way though? Maybe not.

Listen and learn my friends. Very valuable information here.

Episode # 62 – Why NOW Is The Best Time To Start A Business – with Mike Kelly, CPA


In this episode I talk with Mike Kelly, CPA from Money And Life TV Youtube channel. And also www.moneyandlifetv.com.

Mike is a tenured CPA who has a lot to say about the new tax law, the Tax Cut and Jobs Act (TCJA).

Unfortunately, because the tax code is so complex and this is the first major change to it since 1986, there is a lot of confusion about it.

However, my friends, do not let confusion deter you from understanding as there is a lot of money at stake. It is up to you to know how YOU could be affected. You can start by watching Mike’s episode on this here.

Now, be advised, relying solely on your tax advisor or financial advisor may not be enough. Mike talks about the number of tax advisors retiring now due to the complexity of the new code. Change always causes commotion. But, again, this is YOUR money we’re talking about so it’s imperative YOU have some knowledge of how you can keep more of it!

In fact, I argue that the code will actually become a lot LESS confusing in the next year, after the dust settles and it’s been in place for a bit.  The 1040, for instance, will have a WHOLE new look to it in 2019. If you’re used to saying “Line 37 = AGI” I imagine you’re going to have to deal with some change.  Maybe AGI will be on line 18 or something? How nice would that be?

Simplification CAN lead to short term confusion but in the long run, simplification is a good thing.  So, don’t throw up your hands and say “I can’t figure this out!” and walk away from your understanding of the new code.  It’s YOUR money!  Did I say that yet???

Subscribe to Mike’s YouTube Channel. Listen to podcasts episodes such as this one.  Read as much as you can and you’ll gain a knowledge that most refuse to obtain. With that knowledge you will be much better positioned to improve your financial life.

This episode will help you do just that.



Episode #61: Learn About The Villages In Florida With Skip Smith


You’ve heard of The Villages in central Florida, no? Of course you have.

But what exactly is The Villages? In this episode we answer ALL those questions. From the temperature, to the landscape, to the community, the costs etc…

If The Villages is on your horizon as a place to retire, you’re going to want to listen to this podcast.

You can visit Skip’s Youtube page at www.youtube.com/user/thistrucksforyou. Don’t forget to subscribe too once you’re there!

Episode #60 – “Social Security Checks Are Lower Than Many Americans Expect”


Social Security checks are less than retirees expect according to a study reported on by USA Today. (The link to the article is below).

I have a couple problems with the article first. To begin with it says “future retirees who were surveyed expect to receive $1,628 on average each month. But those surveyed who are already in retirement say they are only collecting $1,257.

“That’s a big difference,” Ambrozy says. “It’s like taking a 25% pay cut.”

There’s absolutely nothing odd at all about what a future retiree EXPECTS from Social Security and what a current retiree RECEIVES.

Two completely separate issues there. Not sure why the author didn’t get that.

Secondly, the article states that the average Social Security check is only $1,410 a month. The implication is that if that is the average check and future retirees are banking on $1,628 a month, there is a big disconnect there.

Well, you need to ascertain WHO the average recipient is receiving that check and compare that person to WHO the future retiree is.

Is the average recipient 75 years old and the future retiree 55? That’s 20 years of difference. Can’t use an average for someone who’s already been receiving Social Security for over 10 years with someone who is 10 years away from receiving it! That’s bad journalism.

But, be it as it may, I still wanted to go over how you can figure out your future benefits. Remember, everything is based on your AIME, Averaged Indexed Monthly Earnings.

Your AIME is simply your 35 highest years of income, added together and then divided by 420. Once we get that number we apply the actual bend points to get your PIA. PIA is the amount of Social Security you’ll get at your Full Retirement Age(FRA).

Seems confusing? Don’t let it get you down. Just watch the video. I show you a couple examples of how this works.