New Stimulus Check & Coronavirus Relief Package On the Way? - 285

Your Money, Your Wealth

Realestate, Income, Investing, Personalfinance, 401k, Rothconversion, Retirement, Education, Taxes, Socialsecurity, Personalfinances, Finance, Retirementplanning, Investments, Stocks, Business, Roth, Fiduciary, Ira

2.3 • 681 Ratings

🗓️ 4 August 2020

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

With CARES Act provisions expiring, Joe & Big Al recap the two new stimulus bills - the HEALS Act and the HEROES Act - now being negotiated in Congress. Plus, estate planning considerations when it comes to required minimum distributions (RMDs) for non-designated and designated beneficiaries. And, the 403(b) escape hatch, Social Security, records of estimated tax payments, and assets on the FAFSA form. Send questions and access the transcript and free resources in the show notes: https://bit.ly/YMYW-285

Transcript

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0:00.0	Today on Your Money, Your Wealth, Joe and Big Al discuss some estate planning considerations
0:04.8	when it comes to required minimum distributions from IRAs for designated beneficiaries
0:09.7	versus non-designated beneficiaries.
0:12.5	They'll also address a few listener comments and questions about the 403B escape hatch,
0:17.7	getting a higher social security benefit, records of estimated tax payments, and what
0:22.5	counts as assets on the federal student aid application form.
0:26.1	They will also derail the entire end of the show while debating where in the world to bug out
0:31.1	to when your wife throws you out of the house.
0:33.8	But first, with some of the provisions in the CARES Act's stimulus package expiring,
0:38.3	the fellows provide an overview of the two new stimulus bills,
0:41.8	the Heels Act and the Heroes Act, that are now being negotiated in Congress.
0:46.2	I'm producer Andy Last, and here are the hosts of Your Money, Your Wealth,
0:50.4	Joe Anderson, CFP, and Big Al Clopine CPA.
0:54.5	So, it's August 1st if this is aired on Saturday.
1:00.3	Correct.
1:01.0	And then the podcast would be August 2nd.
1:04.1	Right.
1:04.8	So.
1:05.2	Now, the podcast is August 4th.
1:07.5	August 4th, give or take a couple days.
1:11.6	Yeah, we'll just see.
1:12.7	Yeah, and this is it depends on when Andy gets her stuff together.
	...

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