Family Inc. – Manage your Family Finances Like a CFO

Motley Fool Answers

The Motley Fool

Taxes, Saving, Money, Investing, Planning, Retirement, Personalfinance, Finance, Education, Business

4.4 • 823 Ratings

🗓️ 20 December 2016

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

Douglas McCormick joins us to talk about his book, Family Inc., and the benefits of applying business principles to your own family finances. We’ll also answer your question about after-tax 401k contributions, share some listener feedback, and then exchange anniversary gifts (Warning: We get a little self-indulgent).

Transcript

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0:00.0	This week's episode of Motley Fool Answers is brought to you by our longtime friends at Rocket Mortgage by Quick and Loans.
0:06.5	Rocket Mortgage brings the mortgage process into the 21st century with a fast, easy, and completely online process.
0:12.3	Check out Rocket Mortgage today at quickenloans.com slash fool.
0:19.4	This is Motley Full Answers. I'm joined as always by Robert Brokamp, personal finance expert
0:24.2	here at The Motley Fool. He's also the advisor on Motley Fool's Rul your Retirement Newsletter.
0:30.4	When you nod your head, this is radio. We've been doing this show for two years. You can't
0:35.7	nod. I agree with everything you just said. You're tired of me,
0:41.0	like hearing me say that same intro over and over again. I'm kind of tired of saying it.
0:45.2	I'm self-conscious. You're talking about me. I don't know. I'm a shy guy.
0:48.6	Aw. Kind of a little bit. No, but you're a great guy. Thank you. That's so nice, thank you. All right. We have a special guest this week.
0:54.9	Oh, hey, someone else is also in the room.
0:58.4	It's Douglas McCormick.
0:59.7	He's here to talk about his book, Family, Inc., using business principles to maximize your family's wealth.
1:04.8	We're also going to answer your question about before and after-tax retirement contribution limits and share some listener feedback. All that and more on this week's episode of Motley Full Answers.
1:14.6	It's time for Answers! And today's question comes from Allison, great name, in Seattle, Washington.
1:21.6	Allison writes, I've been investigating the options for after-tax contributions to my 401k.
1:28.3	Can you please explain the difference between the $18,000 limit for before-tax contributions
1:33.4	and the after-tax contributions that can, when combined with pre-tax money, reach $53,000.
1:40.8	Fool on.
1:42.0	Well, Alison.
1:43.0	Such a great.
1:44.0	And she spells it right, too. She does.
	...

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