635-Friday Q&A: Moving From NY to FL to Cut Taxes, Life Insurance at Work, Investment Philosophy, 529 Plans

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Finance, Retirement, Insurance, Business, Money, Education, Self-improvement, Financial, Independence, Growth, Advice, Investing, Family, Personal, Radical, Christian, Faith

4.4 • 1.9K Ratings

🗓️ 5 April 2019

⏱️ 62 minutes

🔗️ Recording | iTunes | RSS

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Summary

On Fridays we do Q&A! Today:

1:20 How can I effectively move from New York to Florida in order to end my tax residency?
17:20 What should I do with the life insurance I'm offered at work?
23:00 How do you advise someone to develop an overarching investment philosophy?
48:05 Should I put money into a 529 plan for my not-yet-conceived children?

If you'd like to join me next week, go here: www.patreon.com/radicalpersonalfinance

Joshua

Transcript

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0:00.0	Today in Radical Personal Finance a show dedicated to providing you with the knowledge,
0:21.6	skills, insight and encouragement
0:23.4	you need to live a rich and meaningful life now while building a plan for financial freedom
0:27.5	in 10 years or less.
0:29.2	My name is Joshua, I am your host, and today it's Friday and every single Friday when I can arrange the
0:34.2	internet connection in a semi-private recording environment and my schedule and my
0:37.8	family and all of the details every Friday that I can do that I record a live
0:41.8	Q&A show with my patrons.
0:47.0	The patrons of Radical Personal Finance is of course a long-running support program for the show,
0:55.0	people who appreciate the show, who enjoy it, and who say, Josh, who are you doing a good job and let me just send you some money.
0:59.6	It is a much better program for me than going out and spending all my time chasing down advertisers
1:04.2	because it allows me to just spend my time serving you.
1:07.6	And so it's a long running program.
1:09.5	So if you'd like to support the show and if you would like access to a Friday Q&A call I would love it if you would do that go to
1:15.0	patreon dot com slash radical personal finance patreon
1:19.2	com slash radical personal finance we begin today with James in New York. James
1:24.6	welcome to the show how can I serve you today? I am a low to mid six years
1:29.4	earning engineer in New York City and I'm looking at moving my wife and I to travel the US a little bit and get out of the city.
1:39.0	We are looking at setting up our residency in Florida and have made some moves in that direction,
1:46.5	but wanted your advice on some of the specifics or if you had any resources.
1:56.4	So to start, we've been in New York for a couple years and we're looking to get out. My wife has a business with a partner who's in New York.
2:03.9	However, we have been thinking about this for a while,
	...

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