Do You Really Need a Financial Advisor? - 103

Your Money, Your Wealth

Realestate, Income, Investing, Personalfinance, 401k, Rothconversion, Retirement, Education, Taxes, Socialsecurity, Personalfinances, Finance, Retirementplanning, Investments, Stocks, Business, Roth, Fiduciary, Ira

2.3 • 681 Ratings

🗓️ 20 February 2017

⏱️ 68 minutes

🔗️ Recording | iTunes | RSS

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Summary

The value of a financial advisor (aka “Advisor’s Alpha”) and a discussion of target date funds with Don Bennyhoff from Vanguard, estate planning and the difference between a will and a trust, and Joe and Big Al answer emails on Roth conversions, taxation on day-trading stocks, tax write-offs on retirement contributions, and why some great companies have low stock prices. Plus, the fellas discuss a recent survey where millennials said they’d rather disclose a sexually transmitted disease to a potential partner than to reveal their debt. Original publish date February 11, 2017. Note that content may be outdated as rules and regulations have changed.

00:00 - Intro
01:00 - Young Americans Would Rather Disclose Their STDs Than Their Debt
12:11 - The Importance Of An Estate Plan: Estate Planners 11 Tips for the New Year
26:47 - Should I Convert to Roth as Quickly As Possible or Over Time?
32:41 - Interview with Vanguard Senior Investment Strategist Don Bennyhoff on Target Date Funds and Advisor's Alpha
48:00 - How will my profits and loss from day trading be taxed at the end of the year?
50:46 - Can I still deduct a maximum amount of taxes on a traditional IRA if I contribute to a 401(k) plan?
55:51 - What is the best way to leave retirement accounts to children and minimize our RMD tax implications?
1:00:43 - Why do some companies have a lower stock price than other, less profitable companies?

Transcript

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0:00.0	Why you probably need an estate plan, how financial advisors provide value,
0:05.0	and why young Americans would rather talk about their sexually transmitted diseases than their debts.
0:11.0	This is Your Money, Your Wealth.
0:14.0	Today on Your Money, Your Wealth, Joe and Big Al explain the difference between a will and a trust,
0:19.0	and they'll tell you why your family will love you for putting sticky notes on that collection of commemorative plates. They'll
0:25.3	also talk to Don Bennyhoff from Vanguard about Target date funds and something called
0:29.5	Advisors Alpha. And the fellas bust open the email back to answer questions on broth conversions,
0:35.5	taxation on day trading stocks, tax write-offs on retirement
0:39.1	contributions, and why some great companies have low stock prices. And yes, they'll also discuss
0:45.3	the recent SO-Fi survey where millennials said they'd rather disclose a pre-existing STD to a potential
0:51.2	partner than to reveal their debt. Prepare yourselves. Here are certified financial planner Joe Anderson and Big Al Clopine's CPA.
1:00.0	Exciting show lined up. We're going to get into estate planning today.
1:05.3	We sure are, Joseph.
1:06.8	Because I think, you know, just simple things that people should know.
1:10.3	And there's also for you folks that live in Southern California, or California in general,
1:15.3	there's that new TOD for primary residents.
1:19.1	Yeah.
1:19.9	Because...
1:19.9	Owning your real estate.
1:20.8	TOD means transfer on death.
1:22.9	And that actually avoids probate.
1:24.9	It sure does.
	...

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