Friday Q and A: Professional Trustees, Tax Saving for Resident Physicians, All Stock Asset Allocations, Can I Afford to Retire, How to Find a Good Financial Advisor, Funding an ESA With Real Estate RPF0113
Radical Personal Finance
Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP
4.2 • 1.9K Ratings
🗓️ 5 December 2014
⏱️ 108 minutes
🧾️ Download transcript
Summary
It's Friday! That means a Q&A show for you. Today, I answer all of these questions.
Here are the questions and the time stamp for where each can be found in the episode.
Enjoy!
Joshua
- 10:00 - Brandon: How do I convey our financial information to my executor if my wife and I die? Should I have my testamantery trust managed by a professional trustee?
- 29:43 - Kyle: How do I save money on taxes as a young, single physician resident?
- 54:01 - Daniel: Is it ok for a young person to have a 100% stock allocation?
- 1:02:44 - Greg: I have $2.5M, can I afford to retire?
- 1:10:44 - John: How do I find a good team of advisors?
- 1:28:00 - Tom: Could I take a loss on a house I transfer into an ESA and then get the gain out tax-free?
Links:
- Last Pass
- Password Gorilla
- Save Taxes By Moving
- Step Transaction Doctrine
- Substance Over Form
- Garrett Planning Network
- XY Planning Network
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Friday Q&A today and I have six questions lined up to go over with you. |
| 0:04.8 | Question number one is from Brandon. |
| 0:05.9 | He asks, I'm doing some planning for my six month old daughter. |
| 0:10.8 | How do I handle the logistics of making sure that if my wife and I both die, our |
| 0:16.6 | executor slash guardian has access to the information about where our money is and |
| 0:21.7 | also should I consider a professional trustee to handle the money? |
| 0:27.1 | Question number two is from Kyle and Kyle says I'm a resident physician making some good money as a start but paying way too much tax. |
| 0:37.6 | What can I do to fix that problem? |
| 0:39.9 | Question three comes from Daniel and he says, is it okay for a young person to have an all-stock |
| 0:46.2 | asset allocation number 4 comes from Greg. Greg says got a couple million bucks |
| 0:51.7 | trying to figure out if I can afford to retire. |
| 0:53.7 | I'm 44 years old, how do I figure that question out? |
| 0:56.7 | Next is from John. |
| 0:58.0 | John asks, how on earth do I find a good financial team? |
| 1:01.2 | Your disclaimer at the end of the show always says, find a good team. your disclaimer at the end of the show always says find a good team of professionals, how do I do that? |
| 1:07.0 | And then the last question is from Tom and Tom asks, so this cool Coverdell Educational Savings Account thing, can I stick a property in |
| 1:18.0 | there that's worth a hundred thousand bucks and count it as being worth |
| 1:22.0 | 2,000. Welcome to the Radical Personal Finance Podcast. Thank you for being here. |
| 1:43.3 | My name is Joshua Sheets and I'm your host. |
| 1:45.5 | Today is Friday, December 5, 2014. |
| 1:51.1 | And on a Q&A show, you make the questions. I think I've got a really great lineup of questions here. |
| 2:16.0 | I'm excited about the variety. I hope you enjoy them. There's going to be some good ones and I think they'll be useful as teaching examples to go |
... |
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