How to Get Into the Stock Market: Dollar Cost Average or Go All In? - 494
Your Money, Your Wealth
Your Money, Your Wealth
2.3 • 681 Ratings
🗓️ 10 September 2024
⏱️ 43 minutes
🧾️ Download transcript
Summary
TJ in Louisiana has been sitting on the sidelines, but now it’s time to get into the market. Should he dollar cost average, or just go all in? Margaret in California has an idea of selling a stock at a loss and buying a put option on that stock that expires after the 30-day waiting period. Does this work as a tax loss harvesting strategy? When is it worth it for Brian in Charlotte, North Carolina to diversify beyond a basic three-fund portfolio? Should Christine in San Diego convert her variable annuity to a fixed indexed annuity? That’s all today on Your Money, Your Wealth® podcast 494 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, how should Dean in Columbus, Georgia invest inherited retirement money? Are Jen and John on track for retirement, and how should they fund their home remodel? Are there any negative consequences for Steve in Pennsylvania if he finds a new financial advisor just a few months after hiring his current advisor? The fellas also talk through how Chris can give money to charity from his required minimum distributions. And finally, Terry calls in with a follow-up question about whether a solo 401(k) is an option to avoid unrelated business income tax (UBIT). Access all the following free financial resources and the episode transcript: https://bit.ly/ymyw-494
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Timestamps:
00:00 - Intro
01:13 - I Want to Get Into the Market. Dollar Cost Average or Go All In? (TJ, Louisiana)
07:08 - Does This Tax Loss Harvesting Strategy Work? (Margaret, CA)
07:45 - When Is It Worth Diversifying Beyond a Basic Three Fund Portfolio? (Brian, Charlotte, NC)
13:33 - Factor Investing: What Is It? Should You Be Doing It? - Read the blog, Download the Investing Basics Guide and 10 Steps to Improve Investing Success
14:00 - Should I Convert a Variable Annuity to Fixed Index Annuity? (Christine, San Diego)
18:21 - How to Invest Inherited Retirement Funds and Where to Save Extra Money? (Dean, Columbus, GA)
21:50 - How Should We Fund Our Home Remodel? Are We On Track for Retirement? (Jen and John, California)
29:43 - How Your Home Can Create Retirement Income: Watch YMYW TV, Download the Retirement Readiness Guide
30:15 - Solo 401(k) to Avoid Unrelated Business Income Tax (UBIT)? (Terry - voice)
32:31 - Switching to a Fee Only Advisor: Any Negative Consequences? (Steve, PA)
37:19 - Intelligent Charitable Giving Through Qualified Charitable Distributions (Chris)
41:05 - Outro
Transcript
Click on a timestamp to play from that location
| 0:00.0 | T.J. and Louisiana has been sitting on the sidelines, but now it's time to get into the market. |
| 0:04.6 | Should he dollar cost average or just go all in? |
| 0:07.7 | Margaret in California has an idea of selling a stock at a loss and buying a put option on that stock that expires after the 30-day waiting period. |
| 0:15.9 | Does this work as a tax loss harvesting strategy? |
| 0:18.7 | When is it worth it for Brian in Charlotte, North Carolina |
| 0:21.2 | to diversify beyond a basic three-fund portfolio? Should Christine in San Diego convert her |
| 0:27.4 | variable annuity to a fixed indexed annuity? That's all today on Your Money, Your Wealth |
| 0:32.0 | podcast number 494. Plus, how should Dean and Columbus, Georgia invest invest inherited retirement money? Are Jen and John on |
| 0:39.2 | track for retirement? And how should they fund their home remodel? Are there any negative |
| 0:43.2 | consequences for Steve in Pennsylvania if he hires a new financial advisor just a few months |
| 0:48.4 | after hiring his current advisor? The fellas also talked through how Chris can give money to charity |
| 0:53.8 | from his required |
| 0:54.9 | minimum distributions. And finally, Terry calls in with a follow-up question about whether a solo |
| 1:00.0 | 401k is an option to avoid unrelated business income tax or you bid. I'm producer Andy Last, |
| 1:06.4 | and here are the hosts of your money, your wealth, Joe Anderson, CFP, and Big Al-Clobline CPA. |
| 1:12.2 | We got T.J. from Louisiana goes, hey, guys, I'm hoping this will get answered on your podcast, |
| 1:18.6 | which I love, by the way. Thank you, T.J. I need some help with a little bit of a mess. Not a bad one |
| 1:24.9 | we find ourselves in. Quick rundown of where we sit. We got 800,000 |
| 1:28.9 | in a 401k, 270 and a Roth, 330 in a brokerage and about a million dollars in cash. House is |
| 1:35.7 | worth a million with about $600,000 in equity. We do not have debt outside of our mortgage. Most |
| 1:42.2 | of the money is an index fund across small, medium, large, tax value, and small portion in international. Forty-five years old, married with |
| 1:49.5 | two boys, 17 and 15. We'll pay for college via cash flow. Question, is what to do with the cash |
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