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Archive for August 2017
7 Things Your IRA Custodian Won't Tell You
It is important to know what your IRA custodian will tell you and what they will not or cannot tell you. The I in IRA stands for individual and many times it is up to the individual to know things or keep track of them. 1. 60-Day Rollovers – An IRA custodian will not remind…
Read MoreThe Ricks Report – August 28, 2017
The Ricks Report August 28, 2017 Numbers of $ignificance BUYERS’ ADVANTAGE – The national average interest rate on a 30-year fixed rate mortgage fell to 3.86% last week, the lowest average recorded so far during calendar year 2017 (source: Freddie Mac). MORE DEBT – 42 million Americans owe $1.34 trillion in student loan debt. …
Read MorePut Investor Psychology to Work for Your Portfolio
“If you know the enemy and know yourself, you need not fear the result of a hundred battles.” Sun Tzu wrote those words in The Art of War, but they can be applied to other challenges in life, including investing and working to secure your retirement. There are plenty of good strategies you can use to…
Read MoreWinning at Life: What If I Win the Lottery?
The largest single Powerball winner was on TV today, and Gregory explains how this is a bad sign that she’s getting off to a bad start. What SHOULD you do if you win the lottery (or otherwise come into a big pile of money)?
Read MoreYou Must Play by the Rules with RMDs and QCDs: Q&A Mailbag
This week’s Slott Report Mailbag examines Roth IRA transfers, QCDs and RMDs. As always, we recommend you work with a competent, educated financial advisor to keep your retirement nest egg safe and secure. You can find one in your area here. Question: Dear Ed Slott and Company, Thank you for helping me with my question. I’m in the…
Read MoreThe Ricks Report – August 21, 2017
The Ricks Report August 21, 2017 Fixed Indexed Annuities used in the appropriate way can be wonderful additions to a well-rounded retirement plan. These tools give their owners opportunity to capture positive gains in market indexes while having protection from market downturns. I am including in this email a brochure for such a product from…
Read MoreWinning at Life: How to Know How Much Money You Need to Retire
On the financial talk show Winning at Life, Gregory Ricks and James Parker walk through the process of determining how much money you will need to have saved up to maintain your current lifestyle in retirement.
Read MoreWinning at Life: How Important Is a Credit Score in Retirement?
Cori from Waco, Texas calls Winning at Life to ask if maintaining a good credit score in retirement is worth the bother. Gregory Ricks and James Parker toss around the times when a retiree would benefit from keeping their credit score up.
Read MoreBack to School? 10 Things You Must Know About Using Your IRA For Educational Expenses
The arrival of August means that it’s back to school time! This means it is time for new school supplies and other bigger expenses. Are you thinking about using your IRA to pay that large tuition bill? The rules can be complicated. Here are 10 things you will want to know: 1. Usually, if you…
Read MoreThe Ricks Report – August 14, 2017
The Ricks Report August 14, 2017 Numbers of $ignificance DISCOUNT RATES PRODUCE DRAMATIC INCREASE IN VALUE – The discount rate used to calculate the present value of pension liabilities has historically been benchmarked to high-quality corporate bond yields. Every 1 percentage point drop in the discount rate produces an approximate +12% increase in the…
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