Stretch IRA's and The Business of Family - 101

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

🗓️ 11 February 2017

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

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Summary

Kiplinger’s Retirement Report editor Rachel Sheedy tells Joe Anderson, CFP® and Big Al Clopine, CPA how to inherit a retirement account without paying a boatload of taxes all at once. Family, Inc. author Doug McCormick talks about how to use sound business principles to make the most of your family’s money, and the fellas answer emails about retirement contribution limits, taxation on stock dividends and splits, and the voodoo of overfunding life insurance. They also discuss Social Security and Medicare changes in 2017, and the do’s - and dont’s - of saving for retirement.

00:00 - Intro
01:00 - 2016 Market Recap
07:39 - The Stretch IRA Explained, with Rachel Sheedy from Kiplinger
23:51 - 5 Ways to Become an Extreme Saver
30:20 - 2017 Social Security Changes
36:03 - Family, Inc. With Doug McCormick
47:16 - Answers to Money Questions
48:03 - I am currently contributing a company sponsored 401(k) plan. Can I also contribute to a Roth IRA?
50:52 - Are stock dividends and stock splits taxed?
56:06 - I've heard I can use life insurance like a Roth. How do I do this? And is it a good idea?

Transcript

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0:00.0	How to inherit a retirement account without paying a boatload of taxes all at once.
0:04.0	How to use sound business principles to make the most of your family's money?
0:07.0	And why you might be able to buy an extra beer this year, courtesy of the Social Security Administration.
0:12.0	This is Your Money, Your Wealth.
0:15.0	Today on Your Money, Your Wealth, Rachel Sheedy, the editor of Kiplinger's retirement report,
0:20.0	tells Joe
0:21.0	and Big Al some of the rules and reasons a non-spouse beneficiary might use a stretch IRA
0:27.1	when inheriting retirement money. Family Inc. author Doug McCormick talks to Joe and Big
0:31.2	Al about the Army Navy game. Oh, and about treating your family finances like a successful
0:35.9	business too. Also coming up, the the fellas answer emails about retirement contribution limits,
0:40.8	taxation on stock dividends and splits, and the voodoo of overfunding life insurance.
0:45.6	They'll also talk about Social Security and Medicare changes in 2017
0:48.9	and the dues and don'ts of saving.
0:52.0	Here are certified financial planner Joe Anderson and Big Al Clopine's CPA.
0:57.0	Thanks so much for joining us Happy 2017.
0:59.9	Starting out the year hot today.
1:01.8	Hot, Al.
1:02.8	Why do you say that?
1:03.6	I don't know.
1:04.2	It's a new year, fresh.
1:05.8	We got a lot of...
1:06.6	2017.
	...

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