What’s the big deal about cryptocurrencies? And is it too late to get in now? Joe Saul-Sehy from Stacking Benjamins joins us to talk about what cryptocurrencies are and what we should be looking out for in the future of Bitcoin. One of the benefits Joe shares is, “It is a way to get governments out of transactions, and also a way to make transactions happen faster.” It’s sort of like moving money into the currency of a different country, except that it isn’t (so far) regulated by the government,...
Sep 03, 2018•43 min•Ep. 88
Continuing on from last episode's discussion about buying rental property for retirement income, Devin and John talk about the mechanisms for evaluating a rental property. ...and John will entertain you with taxes. For more information, visit the show notes at http://www.bigpictureretirement.net/087
Aug 27, 2018•39 min•Ep. 87
Have you thought about using rental properties for retirement income? Is rental real estate a good choice for retirement income for you? John and Devin go through some of the benefits of rental property. For more information, visit the show notes at http://www.bigpictureretirement.net/086
Aug 20, 2018•40 min•Ep. 86
People are always talking about probate, and the many ways to avoid probate. Probate is the legal process of figuring out who gets your stuff. One of the biggest misconceptions about probate is that your estate does not go through probate if you have a will. Be sure that if you have a will, your estate will go through the probate process. But here’s the thing: this process doesn’t apply to non-probate transfers. For more information, visit the show notes at http://www.bigpictureretirement.net/08...
Aug 13, 2018•34 min•Ep. 85
The big benefit of the Roth IRA is that you fund it with after-tax money and it grows tax free, and then when you take it out, it is also tax free, if you meet the qualifications. The big problem with a Roth IRA is that there are income limits to be able to make contributions to a Roth IRA. There are a lot of people out there who can't contribute to a Roth IRA. So, how do you contribute to a Roth IRA if you make too much money? You use a backdoor Roth IRA. We have really good notes for you. To r...
Aug 06, 2018•26 min•Ep. 84
By the end of 2016, there was $660 BILLION dollars in Roth IRAs. So, lots of people are getting this right. Where you can get some of it wrong 1.It lets you put the money in after tax, so you don’t get to deduct the money from your income in the tax year. But, you get to take the money out tax free. 2.If you put money into a Roth, you can pull out your contributions at any time without taxes or penalties 3. You can withdraw from the Roth at any time to purchase a home 4. There’s no required mini...
Jul 30, 2018•43 min•Ep. 83
Is there any value in doing your codicil in blood? A codicil is an amendment to a will. They can be used when there is a smaller change and it seems easier than doing a whole new will. Is there a time and place for a codicil? Yes, if no one is going to be mad and challenge the change that you've made.If you're changing beneficiaries, or executors, and they're going to be upset, you need to do a whole new will. For more information, visit the show notes at http://bigpictureretirement.net/082...
Jul 23, 2018•18 min•Ep. 82
Many industries utilize a lot of different types of designations, and that's also true for financial advisors. What do they all mean, and should you care? Devin asked John, "How many designations do you think there are for financial advisors?" John thinks there is really no way to know that for sure. At FINRA, one of the regulatory bodies for financial advisors, there is a page of 180 designations listed, as of today, and close to 100 of them begin with the word "Certified." Why do these designa...
Jul 16, 2018•39 min•Ep. 81
Listener Becky asks if it is legal to place a surveillance camera in the room of your loved one, specifically in grandma's nursing home. Devin also answers the question "Does keeping a balance on my credit card help my credit score?" For more information, visit the show notes at http://bigpictureretirement.net/080
Jul 09, 2018•21 min•Ep. 80
What are the the moral or ethical considerations of using strategies and loopholes to utilize government programs? Is this ethical? It cheating? Is it getting close to fraudulent? John and Devin go through some scenarios. For more information, visit the show notes at http://www.bigpictureretirement.net/079
Jul 02, 2018•31 min•Ep. 79
While we move into our new recording studio, and with all the new listeners coming on board, we are replaying an episode from 6 months ago: The Tatoo Factor and Predictions that Didn't Happen Devin shared some examples of pretty dire predictions by investment professionals, and asked David and Andrew how they would respond. David points out that the fear of losing everything is pretty compelling – there’s a natural instinct to avoid danger. Andrew recommends that clients focus on their individua...
Jun 25, 2018•37 min•Ep. 78
Devin talks about good reasons to file for Social Security at age 62. Every situation is different, and some folks will benefit more if they file later, but there are many people for whom it makes sense to file early: You need the income You Are Single and Have Health Issues Issues Related To Your Spouse’s Benefits Survivor Benefits Minor or Disabled Children For more information, visit the show notes at http://www.bigpictureretirement.net/episode-77-5-smart-reasons-to-file-early-for-social-secu...
Jun 18, 2018•26 min•Ep. 77
Devin and John welcome Brandon Renfro to talk about Real Estate Investment Trusts (REIT). A REIT is a packaged investment product, like a mutual fund, that is invested in real estate related assets. There are a couple of different types of REITS that you can buy. For more information, visit the show notes at http://www.bigpictureretirement.net/076
Jun 11, 2018•29 min•Ep. 76
For many, going to college is the goal, but the costs can be overwhelming. If you’re a parent, or a grandparent, you’ve got to be thinking, “How do I keep these children from going into that hole?” John and Devin share ideas and tips for how to make college affordable for you or your children/grandchildren. For more information, visit the show notes at http://bigpictureretirement.net/episode-75-ways-to-pay-for-college...
Jun 04, 2018•46 min•Ep. 75
Devin and John continue the discussion from Episode 73: The Right Way To Qualify for Medicaid for Long-Term Care Single person: you can have a house, you can have a car, you can have your funeral paid for, you can have $2,000. How can you bring your assets down below the $2,000 limit? There are quite a few good options. Now, if you're part of a married couple, you have a different set of issues. As you can see, this stuff is really complicated. For more information, visit the show notes at http:...
May 28, 2018•38 min•Ep. 74
What is the right way to qualify for Medicaid for long-term care expenses? Listen in as John and Devin discuss Medicaid eligibility factors, non-countable assets, and what - if anything - needs to be done with assets now to possibly protect these assets down the road. For more information, visit the show notes at http://www.bigpictureretirement.net/073
May 21, 2018•51 min•Ep. 73
Warren Buffett made a bet, that came to be known as Buffett’s bet, that the S&P 500 would outperform any basket of hedge funds in the next 10 years. It started on the 1st day of January 2008, and was supposed to conclude at the end of 2017. If you look the final results, the S&P annualized gain was 7.1%, which is impressive considering that this challenge started during a terrible time in the market. The group of hedge funds didn’t even earn an average of 2.1% during that period of time....
May 14, 2018•44 min•Ep. 72
This idea of dividends sounds good, but chasing yield often ends badly. Dividends aren't guaranteed, but having the right balance for your situation can benefit you when it comes to dividend-paying stocks. Learn what a dividend is and what to look out for when looking at dividend stocks at http://www.bigpictureretirement.net/071
May 07, 2018•20 min•Ep. 71
Is a credit score important while you’re in retirement? That depends on your situation. For some people, maintaining good credit can continue to be valuable. For others, who won’t be doing anything that requires credit, there’s no need consider a credit score when making decisions. Find out more at http://www.bigpictureretirement.net/070
Apr 30, 2018•21 min•Ep. 70
Managing your retirement savings can require a lot of knowledge and decisions. Lots of folks don’t want to worry about which funds to be invested in, and what asset allocation is best for them. If that sounds like you, a target date fund might be right for you. Each fund is identified with a year, and generally you would be picking a fund that corresponds to the date when you plan to retire. They’re very popular because they are easy. You can just put your money in one fund, and you’re done. The...
Apr 23, 2018•25 min•Ep. 69
Devin and John are joined by Roger Whitney, founder of the Retirement Answer Man Podcast and author of the recently released book, Rock Retirement . For more information, visit the show notes at http://www.bigpictureretirement.net/068
Apr 16, 2018•20 min•Ep. 68
Devin and John explore one popular alternatives to traditional health insurance: health care sharing arrangements. John has about 20 employees, and he provides health insurance to the employees (but not the families.) This is a high-deductible plan, so the employee still pays $3,000 to $4,000 per year before the insurance kicks in. So, as a general rule, John knows that he (and his employees) will see virtually no benefit from this very expensive coverage. Because a health care sharing arrangeme...
Apr 09, 2018•32 min•Ep. 67
David Stein, host of the Money For The Rest of Us podcast, will explain the importance of trade, and how the trade, and trade wars, might impact you and your retirement. For more information, visit the show notes at http://www.bigpictureretirement.net/066
Apr 02, 2018•28 min•Ep. 66
Devin brings on special guest Andrew Comstock to talk about what's going on in the market and what we can expect moving forward
Mar 30, 2018•10 min
The Census Bureau has announced that by 2030, senior citizens (65 and older) will outnumber people aged 18 and under. What will this mean for health care costs and the security of pension plans? John and Devin also talk about a recent app that sold millions of people’s Facebook information. Is this truly a data breach of sorts? For more information, visit the show notes at http://bigpictureretirement.net/065
Mar 26, 2018•26 min•Ep. 65
Each month or so, Devin and John devote an episode to answering listener questions. This week, they’ve picked two great questions submitted by listeners like you. Devin answered this question: “Is this a good time to invest?” John tackled the concern from a listener who asked: “Is there any way I can keep a nursing home from taking my Social Security?” For more information, visit the show notes at http://www.bigpictureretirement.net/064...
Mar 19, 2018•22 min•Ep. 64
Not all accountants are created equal. Some are just document processors. They get you in, do your return and send you on your way. Advice? Ha! Others actually care enough to ask the important questions and give you guidance that improves your tax outlook. For more information, visit the show notes at http://www.bigpictureretirement.net/hiring-right-tax-advisor/
Mar 12, 2018•44 min•Ep. 63
You’ve probably heard the Biblical account of Jacob & Esau. Hidden within this story is a powerful lesson about estate planning that is still overlooked today. For more information, visit the show notes at http://www.bigpictureretirement.net/episode-002-lesson-from-jacob-esau/
Mar 05, 2018•27 min•Ep. 62
As you approach your 60s, the hot question becomes, “When should I file for Social Security?” It’s an easy question, right? You just figure out when you’re going to die, and then do the math. Unfortunately, the world doesn’t work like that. Devin points out that the real question should be, “What if I live longer than expected? For more information, visit the show notes at http://www.bigpictureretirement.net/061...
Feb 26, 2018•27 min•Ep. 61
Should I buy long-term care insurance? Should I keep the long-term care insurance I already have? These are important questions, and there are no easy answers. Long-term care is expensive, but long-term care insurance is also expensive. When you start looking at some of the statistics, it can get scary. But thankfully, the statistics don’t show the whole picture. Once you consider all the issues and factors, the big question is managing the risk of needing financial assistance with long-term car...
Feb 19, 2018•40 min•Ep. 60
