Friday Q and A: Cash Houses vs Mortgages, Speculative BioTech Stocks in an ESA, Physician Private Practice vs Hospital Job, Accounting for Business Deductions, Multi-Family Living, 529 Plan Qualified Expenses, Inflation Rates, Gifting Money to Kids RPF018

Radical Personal Finance

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

Self-improvement, Business, Education, Investing

4.2 • 1.9K Ratings

🗓️ 13 December 2014

⏱️ 117 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today, we have a really fun Q&A for you! I hope you enjoy!

Here are the questions I answer:

2:25 If I have the cash, should I pay cash for a house or invest it?
17:13 Should I use my Coverdell ESA to speculate on early-stage biotech stocks?
28:05 Should a physician try to continue a private practice with a partial ownership interest or take a full-time hospital job?
40:38 How can I account for the business deductions in my side business?
49:40 Is multi-family, multi-generational living a good idea?
1:03:40 What do I need to know about disability income insurance?
1:26:03 Which college expenses can I pay for out of my 529 account?
1:33:27 Why do I use different inflation rates on calculations?
1:39:26 What kind of account can I use to gift money to my nephew?

Enjoy!

Joshua

Links:

Lower Your Taxes Big Time! by Sandy Botkin

Transcript

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0:00.0	Happy Friday, Radicals.
0:02.0	It's Friday, and on Fridays we do Q&A,
0:04.3	ask the financial plan or anything you want,
0:06.2	and today I've lined up nine questions.
0:08.4	There's some good ones.
0:09.2	Number one, I've got cash.
0:11.0	Should I buy a house or should I get a mortgage?
0:14.0	By a house for cash or should I get a mortgage?
0:16.0	Number two, can I invest and should I invest in speculative biotech stocks through my covered
0:21.0	L-ESA?
0:22.0	Number three, I'm a physician trying to figure out the differences between private practice
0:27.0	versus working at an academic teaching hospital.
0:29.5	What should I do?
0:30.5	Four, business deduction.
0:32.0	Should I take them or not? Five, multi-generational living. Good idea? Number six. Disability insurance. What do I need to know? Seven, 529 plans.
0:42.8	What are qualified distributions?
0:45.4	And how do I actually work the details of that?
0:47.7	Eight, inflation.
0:48.8	Why do I sometimes do inflation adjusted returns
0:51.5	and why do I sometimes not?
0:53.2	Nine, Chris says, I want to give money to my nephews.
0:57.4	How do I do that if I don't want to necessarily allocate it toward higher education. Welcome to the Radical Personal Finance Podcast. My name is Joshua Sheets and today is Friday,
	...

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