Pension Vs. Lump Sum, 401k Rules, and the Fiduciary Standard - 60
Your Money, Your Wealth
Your Money, Your Wealth
2.3 • 681 Ratings
🗓️ 27 August 2016
⏱️ 37 minutes
🧾️ Download transcript
Summary
Pensions in lump sum vs monthly payments, 401(k) rules, the fiduciary standard, and more as Joe Anderson, CFP® and Big Al Clopine, CPA answer listeners' investing and personal finance questions on episode 60 of the YMYW podcast. Original publish date August 27, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed.
02:00 - “Does the early withdrawal penalty on my IRA apply to me?"
04:40 - “Never use your IRA (individual retirement account) for anything other than retirement.”
05:23 - “Do 401(k) contributions have any effect on MAGI (modified adjusted growth income)?”
08:40 - “Think of ‘above-the-line’ as things like income and direct expenses to that income whereas ‘below-the-line’ is generally personal expenses.”
11:14 - “Which should I take, a monthly pension or lump sum buyout?”
16:56 - “Why should I hire a fiduciary advisor?”
20:03 - “Everybody needs a financial plan, but not everybody needs a financial planner.”
23:08 - “If you can save money on taxes, your money is going to grow that much further and you can take less risk.”
23:51 - “Are high-yield bonds a good investment?”
26:26 - “A high-yield bond is going to be ordinary income, and you have to pay ordinary income taxes at the highest rate.”
29:50 - “Do I need to pay capital gains tax on the sale of my retail space?”
33:27 - “Which income option is best for a 70-year-old?”
35:45 - “You have to look at so many different options, you can’t look at this stuff in a bubble or you might make big mistakes.”
Transcript
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| 0:00.0 | Pure Financial Advisors, a registered investment advisor. |
| 0:03.2 | This show does not intend to provide personalized investment advice through this broadcast |
| 0:07.3 | and does not represent that the securities or services discussed are suitable for any investor. |
| 0:12.5 | Investors are advised not to rely on any information contained in the broadcast |
| 0:16.0 | in the process of making a full informed investment decision. |
| 0:19.0 | This is your money, your wealth, on Talk Radio |
| 0:22.3 | 760, KFMV. Now, here's Joe Anderson and Big Al Clopine. |
| 0:28.6 | Hey, welcome back to the show. Show's called Your Money, Your Wealth, Joe Anderson, Big Al. Thanks for tuning in. Hour two coming at you here. |
| 0:36.6 | Well, it's that time again, Clopine. You got some more email questions? And our two coming at you here. |
| 0:39.9 | Well, it's that time again, Cloapine. |
| 0:42.4 | You got some more email questions for me? Now, our listeners are starting to really enjoy this segment. |
| 0:46.2 | It's getting out of control because I'm getting so many email questions here. |
| 0:51.2 | Now, Nerd Wallet. |
| 0:53.3 | You've heard of them? Yes. You've heard of Nerd Wallet? I have. I've seen some |
| 0:57.7 | articles of theirs. Huh. Well, now they're emailing me. Hey, I got some questions. They listen to |
| 1:03.0 | the show? I heard you answer questions for Investopedia. Yeah. What about us? Yeah. Come on. Equal |
| 1:08.3 | time. Come on. Here. So, I don't know, we'll bust through a couple of these. |
| 1:13.2 | And then a lot of you are emailing us for questions, and you can do that at purefinancial.com. |
| 1:19.0 | Just go to, you can go to info at purefinancial.com. |
| 1:25.6 | Yeah. |
| 1:25.9 | Or you can just go directly to me or L. |
| 1:29.3 | And we will respond. |
... |
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