Why This Life Insurance Is for the Most Part a Scam - 246

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

🗓️ 5 November 2019

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

We tackle Indexed Universal Life Insurance one more time. And you may have heard that millionaires "buy term and invest the rest" to pay estate taxes, but is it a good idea? When you have appreciated company stock, how much should you "NUA" and when, and how do you deal with the taxes? Plus, can you convert an inherited 401(k) to a Roth? When is your required beginning date for RMDs? Ask your money questions, read the transcript, and access free financial resources at http://bit.ly/YMYW-246

Transcript

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0:00.0	Today on Your Money, your We'll tackle indexed universal life insurance one more time.
0:04.9	This will probably be Joe's final word on the topic, unless, of course, you ask him another
0:08.9	question about it, but then you're just doing it to get him riled up.
0:12.1	Not that there's anything wrong with that.
0:14.0	Also, on the topic of life insurance, you may have heard that millionaires buy term and
0:18.2	invest the rest to pay estate taxes, but is that a good idea? And when you
0:22.9	have a bunch of appreciated stock in your portfolio from the company you work for, how much
0:27.4	should you sell and when, and how do you deal with the taxes? Plus, can you convert an inherited
0:32.8	401k to a Roth? And when is your required beginning date for required minimum distributions?
0:38.8	I'm producer Andy Last.
0:40.1	Before we get to all those questions, let's see how the fellas do with 403B withdrawal
0:44.8	rules.
0:45.7	Here are Joe Anderson CFP and Big Al Clopine CPA.
0:49.5	We got Mark, he wrote in from Colorado, Joe Big Al and Andy.
0:56.0	Awesome show and great content.
1:00.0	Oh, boy.
1:01.2	Let's see how you do with this one.
1:03.0	And play for all jocularity.
1:06.6	Jocularity.
1:07.4	Oh, you should have let him go on that one, Al.
1:09.6	I was going to help him. No, Jocularity.
1:11.6	But what does that mean?
	...

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