Friday Q and A: Retirement Distribution, Life Purpose, Re-Balancing Bond Funds, Pre-Paying Mortgages, Paying off CC Debt, Applying the Trivium to a New Job, Dental Insurance, and Switching Custodians RPF0103

Radical Personal Finance

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

Self-improvement, Business, Education, Investing

4.2 • 1.9K Ratings

🗓️ 14 November 2014

⏱️ 111 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

It's Friday! Today, I have a Question and Answer show for you and I've decided to handle a bunch of your questions. I felt like I cheated you last week by only answering 3 questions.

(6:27) How do I calculate a portfolio distribution amount that retains 50% of my portfolio at my death?
(20:31) Is it ok to keep money in cash or do I need to invest right away to start getting compound interest?
(40:21) How do I rebalance my accounts to get a proper bond allocation?
(52:28) Should I pre-pay my mortgage in a lump sum or should I invest the money and then make extra monthly contributions?
(1:02:12) I have an unpaid medical bill and CC debt. What do I do?
(1:12:04) How do I apply the trivium method to a new job?
(1:30:01) Any tricks for how I can pay for a big dental bill in a better way?
(1:42:25) How do I figure out whether I should switch custodians for my investment accounts?

Enjoy!

Joshua

Links:

IRS Publication 502

Transcript

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0:00.0	It's Friday.
0:09.0	Q and a day. Q and a day.
0:10.0	Welcome to the show.
0:12.0	Today I've got a bunch of questions lined up for you.
0:15.0	Question number one, how do I figure out how much I can withdraw off of a portfolio if I want to leave behind 50% of the remaining balance after my death of a retirement portfolio.
0:27.2	Question number two, how much money is too much money in tax-deferred accounts and do I need
0:32.3	to invest right away in order to take advantage of compound interest?
0:37.0	Question number three, how do I figure out how to allocate a bond portfolio across all of my accounts and which type of bond funds do I buy.
0:45.7	Question number four, do I do a prepayment on a mortgage or invest the money and then pull off extra
0:51.0	payments every couple of months.
0:53.2	Question number five, help, I'm behind on my bills
0:56.8	and I don't have much money.
0:58.6	How do I get out of debt?
1:00.1	Question number six, how do I apply the trivia to a new career?
1:06.3	Question number seven I have a bunch of dental expenses coming up. How do I make sure that I pay for those with my dental insurance without coming
1:16.4	out of pocket with too much money?
1:19.0	And finally, I have some different taxable accounts and different accounts with ShareBuilder.
1:24.5	Should I sell those accounts in order to move to a different mutual fund company? Welcome to the Radical Personal Finance Podcast. My name is Joshua Sheets and today is Friday, November
1:49.3	14, 2014. Today we're doing a Q&A show and I am going to cover all of those questions.
1:57.0	Last week I said I was going to cover them and I finished with three but today we're going to do all of those even if I have to give you quick
2:03.4	answers. Hope you find it interesting and are able to learn something. I personally have a busy busy day today and this weekend so up early this
2:20.7	morning prepping for this and recording first thing and this show is probably
	...

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