Podcast Episode # 48 – I Answer Your Financial Questions

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.

Question 1: For someone making over the Roth IRA salary limit, can they still rollover Roth 401(k)’s from previous employers into a Roth IRA? Are there any pros and cons to doing so (e.g., lower expense ratio)?

Question 2: Would it be smart to roll my Roth IRA into a REIT?

Question 3: What is the combined total assets of all retirement plans, and does it make Social Security irrelevant for most?

Question 4: Is there ever a reason to transfer an old 401K to a new 401K instead of a rollover IRA?

Question 5: How good is a 529 for college savings versus full-funding a Roth IRA or paying down my house?

Question 6: How effective are financial advisors for the average person?

Question 7: Is the retirement plan offered by your employer adequate to make you feel good about your future finances?

Question 8: How much do I need to retire at 40?

Question 9: How early do you have to buy a mutual fund to get the capital gains?

Question 10: What should I know about appreciation, inflation, capital gains, and taxation?

Question 11: Is it wise to have multiple retirement plans?

Question 12: Can an LLC advertise “100 percent of profits to charity” and have salaried employees? Can the LLC accept “gifts” (donations) as long as they report gifted funds as income and don’t give tax deductions?

Question 13: How do retired people spend their time?

Question 14: As reported by WSJ, are US government programs such as Medicare and Social Security going bust and insolvent as they recently are tapping into reserves?

Question 15: Do you think Social Security will be around in 10 years and if so how do you think it will change?

Song of the day: No For An Answer “You Laugh”

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