Listener Q&A: Navigating Taxes, Trusts, and More

Big Picture Retirement®

Devin Carroll

Investing, Business News, News, Business

4.7 • 546 Ratings

🗓️ 29 July 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode of Big Picture Retirement, we're back answering more of our listener-submitted questions. Join us as we cover:

Anna's Query: When will NESARA begin?
Ron's Question: Clarification on calculating taxes on Social Security benefits using our Cheat Sheet, specifically addressing whether AGI already includes SS benefits or if an additional 50% is added.
Anne's Concerns: Discussing the threshold for needing trusts for individuals with borderline amounts ($750,000 - $1.5 million) and insurance options for travelers, including auto insurance for rentals in the USA, abroad, and RVs vs. asset protection.
Lamont's Inquiry: Confirming the standard deduction amount for a couple both over 65.
Don's Situation: Understanding how income received from work as a Trustee or Executor for an estate affects Social Security earnings limits and the implications based on trust wording.
Danny's Topic: Evaluating company private E.S.O.P. plans and their benefits.
Lori's Request: Exploring the tradeoffs of naming children as beneficiaries versus creating a trust and naming the trust as beneficiary, especially in light of recent changes to inherited retirement accounts and the 10-year distribution window. Additionally, discussing how a trust can offer protection from changes in law.

If you're thinking, "I love the Big Picture Retirement podcast!" please consider rating and reviewing this show! This helps us support more people -- just like you -- move toward a confident retirement. Just scroll down to the "ratings and reviews" section, tap to rate with five stars, and select "Write a Review." Then be sure to let us know what you loved most about the episode!

Also, if you haven't done so already, follow the podcast. We add new content every week, and if you're not following, you'll likely miss out. Follow now!

Don't miss the Big Picture Retirement Planning Cheat Sheet. We've distilled the essential brackets, thresholds, and rules of retirement into an easy-to-digest, three-page summary. https://www.carrolladvisory.com/pl/2148282517

Want to ask Devin or John your question? Just visit https://www.bigpictureretirement.com/ and click on the "Ask A Question" menu selection.

Although this show does not provide specific tax, legal, or financial advice, you can engage Devin or John through their individual firms.

Contact Devin's team at https://carrolladvisory.co/podcast1

Contact John's team at https://www.rossandshoalmire.com/

Transcript

Click on a timestamp to play from that location

0:00.0	The Big Picture Retirement Show does not provide tax, legal, or financial advice.
0:04.3	Listeners are encouraged to seek out their own advisors in these areas.
0:10.5	Hey, everyone, welcome to the Big Picture Retirement Show.
0:13.4	I'm your host, Devin.
0:14.4	Join today by my co-host, John Ross.
0:17.4	Howdy.
0:27.5	John, we're back answering listener questions today.
0:28.0	Yep.
0:30.9	We are slowly digging ourselves out of that hole.
0:33.4	We've got quite a few of these left,
0:36.6	and we're going to try to knock through several of these to date.
0:38.8	So let's not waste any time, shall we?
0:56.1	Yeah, jump on in, man. Let's do it. Right in. Our first question comes from Anna. You know, I think Anna's a pretty name. Always have. Maybe because it's close to Hannah, which is my daughter's name, but I like the name Anna. So Anna, you have a very pretty name. And I said, when does DeSara and Jasara start?
0:57.8	And then she said, I might have misspelled the words.
0:55.2	Okay. So I think what she's
0:59.8	referring to here, John, is Nasara, which is the National Economic Stabilization Act, something
1:07.6	like that. There is some proposal that that was floated around back in the Bush administration, the second Bush administration.
1:17.7	Early 2000. Yeah. And allegedly it was secretly signed into law, but then 9-11 happened. And so they sat on it and didn't do anything
1:29.9	with it, but they're just waiting. One day soon, they're going to bring this out. And it's already
1:35.6	law. There's nothing we can do about it. And effectively, what it's going to do is reset the economy.
1:41.0	Everyone's debt will be wiped away and we will live in a utopia-like environment.
1:46.5	I really don't know what exactly all that proposal said, but it was, this may tell you all
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Devin Carroll, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Devin Carroll and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.