Your Money & Your Life Podcast

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RMDs: Are You Billy Or Are You Bruce?

Feeling confused about what the SECURE Act means for you and your RMDs? Don will talk you through what you need to know and help you figure out whether you’ll need to take RMDs sooner or later.

 

Show notes and additional resources: https://doncashpodcast.com/podcast/rmds-are-you-billy-or-are-you-bruce/ 

 

Today's rundown: 

1:38 - The SECURE Act is making people feel insecure about their RMDs.

2:57 - Are you more like Billy Joel or like Bruce Springsteen?

7:44 - How does Don help clients navigate these changes?

10:08 - Cash Connection Question: Can you explain the widow’s tax?

13:41 - Is there anything that can be done ahead of time to prepare for this tax?

17:02 - Getting to Know You: How does Don start the day?

2019 Financial Year in Review

Before we turn the page and move into the new decade, let’s take a look back at a busy 2019. We saw a strong market, interest rate cuts, the passing of the SECURE Act, and more, but there are also some signs for concern heading into 2020.

 

Show notes and additional resources: https://doncashpodcast.com/?p=220 

 

Today's rundown: 

0:35 – Hard to believe it’s already 2020.

1:33 – What does Don see in store for 2020 from a financial perspective?

4:39 – People ask frequently about what’s going to happen in the stock market.

5:11 – Think about what was happening one year ago (December 2018) and the predictions we heard.

7:52 – Here’s what hasn’t changed financially in the last year.

8:21 – There are a few things to be concerned about heading into 2020.

11:52 – Cash Connection Question: My dad is 91 and remarried about 15 years ago. Both my dad and stepmother are in assisted living and thankfully have long-term care plans that cover the cost. He has told us he’s leaving all his assets to his kids. Someone told me in New Jersey that you can’t leave everything to your kids. Is that true?

14:45 – What does Don’s planning process look like when it comes to estates?

16:57 – Getting to Know Don: What is something people would be surprised to know about you?

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