When it comes to rental property, you have to protect yourself in two ways: Your business from your personal issues, and your personal life from your business issues. This week, Devin and John talk about the ways to protect your real estate interests. For more information, visit the show notes at https://www.bigpictureretirement.com/118
Not long ago, Devin and his brothers inherited some property. Thankfully, this deal went pretty smoothly because they all wanted to sell it. However, not all inheritances go as smoothly. Knowing about the Uniform Partition of Heirs Property Act should make you want to go back to your estate plan, and see how you can amend your estate plan to avoid these potential conflicts. For more information, visit the show notes at https://www.bigpictureretirement.com/117...
When you're talking about estate planning, and the care of pets, some interesting things can happen. It's not uncommon for people to want to provide for their pets in their wills, whether designating the person who will care for the pet, or providing money to care for the pet. There used to be a lot of pitfalls when creating plans for pets. Technically, an animal is property and the animal has the same legal rights as any other property (like a couch). This is really hard for animal people to co...
Is it possible that your heirs might disagree with your will? There are many things you can do to reduce or even eliminate fights after you are gone. In this week's episode, elder lawyer John Ross talks about the dos and don'ts of writing a will when you think there might be conflict between your survivors. For more information, visit the show notes at https://bigpictureretirement.com/115
This week's episode includes some reader questions, and a review of the The Setting Every Community Up for Retirement Enhancement Act of 2019 (the SECURE Act). The SECURE Act has passed the House of Representatives, and a similar bill is working in the Senate. For more, visit the show notes at https://www.bigpictureretirement.com/5-things-to-know-about-the-secure-act-of-2019
Current reports show there will only be enough money coming into Social Security to pay about 75% of Social Security Benefits. Even if we have record-setting economic numbers, we're very close to being too little, too late. Can a President make changes quick enough to solve the problem? Devin explains how one change can solve the problem, and how other ideas only partially keep Social Security solvent. For more information, visit the show notes at https://www.bigpictureretirement.com/113...
90% of contested probate cases were between the surviving wife and the children of the deceased man. We received an email from a listener whose widowed father met a new woman and let her into his life. However, the kids have some concerns about the new friend, and a little research has shown some concerning information about this person. There is a very specific routine of how people commit elder abuse. Listen as John spells out the secrets of the Financial Abuser's Playbook. For more informatio...
Spring is here, and it's a great time to do some financial spring cleaning. Devin and John go over a few things you want to do: A fee audit Double-check your beneficiary designations. ...and more For more information, visit the show notes at https://www.bigpictureretirement.net/111
"Medicare for All" has been in the news a lot lately. Senator Bernie Sanders thinks insurance companies should be abolished and everyone should get Medicare. So this week, Devin and John talk about the pros and cons of different ideas about expanding Medicare coverage to folks of lower ages. For more information, visit the show notes at https://www.bigpictureretirement.net/110
An exclusive interview with Congressman John Larson about the proposed changes to Social Security in the SS2100 Act. For more information, visit the show notes at https://www.bigpictureretirement.net/109
A trust is a legal entity, just like a corporation or an individual person. All trusts will have an exchange of property and three categories of people: The people who create it, called the grantors, or the settlers, or the trust-makers The people in charge of the trust, usually called the trustees The beneficiaries: the people who get the benefit of the trust Devin and John go over the different types of trusts and when to use them. For more information, visit the show notes at https://www.bigp...
Are illegal immigrants going to cause the collapse of the Social Security system? The Social Security trustees reports that more immigration is a benefit to the system. Devin and John of Big Picture Retirement look at both sides and get to the truth behind Illegal Immigration and Social Security. For more information, visit the show notes at https://www.bigpictureretirement.net/107
Danielle Roberts of BoomerBenefits.com is back again this week, talking with Devin about more Medicare issues. Danielle is an expert on Medicare supplements and Medicare Advantage plans, and runs the Boomer Benefits company to help seniors with their Medicare needs. In last week’s episode, Danielle and Devin talked about the parts of Medicare, the difference between a Medicare supplement and a Medicare Advantage plan, and how to find the right agent and product for you. For more information, vis...
Danielle Roberts explains the different parts of Medicare to us in a way that is easy to understand and follow. This is Part 1 of a 2-part series with Danielle Roberts of BoomerBenefits.com. For more information, visit the show notes at https://www.bigpictureretirement.net/105
How do you figure out how much money you're spending on your investments? In this encore presentation, Devin and John talk about the types of fees you might be paying, and how you can figure out what they are. For more information, visit the show notes at http://www.bigpictureretirement.net/104
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/103
Devin and John continue working their way through some of the listener questions that have been coming in. John has a question about making a trust the beneficiary of an IRA, and then Devin has a question about Social Security benefits for public employees who have not contributed to Social Security. For more information, visit the show notes at https://www.bigpictureretirement.net/102
John received a question from a listener with a blended family. The wife needs long-term care, and the assets to support such an expense! He talks about “Medicaid estate recovery” and other recommendations for power of attorney, etc. Then Devin answers a question about the Social Security earnings limit and then tackles some myths about Social Security. For more information, visit the show notes at https://www.bigpictureretirement.net/101...
What kind of rights do grandparents have? John Ross from the Big Picture Retirement Show deals with a lot of people in retirement, and many of those folks have grandchildren. He shares some harrowing stories and tips you can use to makes sure your rights are honored. For more information, visit the show notes at http://www.bigpictureretirement.net/100
CRUTS are Charitable Remainder Trusts. Any time you are dealing with charitable planning, you must first have the charitable intent. You can find some tax benefits that go along with that charitable intent, but you have to start with the charitable intention. Ultimately, the charity is almost always going to benefit more than the donor. For more information, visit the show notes at http://www.bigpictureretirement.net/099...
Part 2 of the conversation about active versus passive investing with guest Rick Ferri, author of Smart Money. For more information, visit the show notes at https://www.bigpictureretirement.net/098
This week, Devin welcomes Rick Ferri to the show to talk about active versus passive investing. But before the interview gets started, John and Devin have an entertaining conversation about the recently released 2019 Social Security and Medicare adjusted numbers, including: The increase in Social Security benefits Medicare premiums Adjusted Social Security earnings limit Higher limit on how much money you will pay Social Security benefits and more! For more information, visit the show notes at h...
In light of the recent market activity, Devin and John thought it would be useful to re-broadcast their original episode on the lessons they've learned from past market declines. Lesson 1: Market declines are normal Lesson 2: No one can consistently predict market movements Lesson 3: The best days hang out with the bad days ...and more two more you can read about at https://www.bigpictureretirement.net/lessons-learned-from-market-declines...
On the surface, Social Security survivor benefits seem pretty simple: at the death of the first spouse, the surviving spouse is eligible to receive his or her own benefit, or the benefit of the deceased, whichever is greatest. In today's show, Devin and John go over: Who Is Eligible for Survivor's Benefits How Much Is The Spousal Survivor Benefit The RIB LIM, or "Widow's Limit" and Restricted Filings For more information, visit the show notes at http://www.bigpictureretirement.net/095...
Important benefits offered by the Department of Veterans Affairs (VA) are changing. Devin and John talk about: Improved Pension with Aid and Attendance Clearly Defined Assets Test Adding A Look-back Period For more information, visit the show notes at http://www.bigpictureretirement.net/094
Part 3 in the Big Picture Retirement series on Drawdown Strategies: Brandon Renfro talks about "setting a floor." For more information, visit the show notes at http://www.bigpictureretirement.net/093
Part 2 in our series. In this episode we answer the question "How are you going to take your money out so that it lasts?" Then, once you have a plan for which accounts you should access in which order, how are you going to figure out the amount of income to take out from your portfolio? For more information, visit the show notes at https://www.bigpictureretirement.net/092
When you stop working, you've put aside some money into different types of accounts, and maybe you have a pension, or some rental property, or other investments. How do you start converting those assets into an income stream that will last for the rest of your life? Brandon Renfro, Ph.D., joins Devin on a discussion about: The tax torpedo The Net Unrealized Appreciation Rule Provisional income and how much of your Social Security is taxable For more details, visit the show notes at https://www.b...
There are a few areas within Social Security that you could mess up without even meaning to do things wrong. One of my most trusted mentors has often told me, "Big doors swing on little hinges." I've found that to be applicable to many things in life and it's certainly true in retirement planning. The small decisions you make, when stretched over long periods, can have big consequences. Here are the 5 Social Security mistakes that can cost you dearly when you retire. There's more to learn at htt...
Did you know you could buy a horse as an investment in your IRA? What about real estate and other assets? Kirk Chisholm, of Innovative Advisory Group, joins us to explain how self-directed IRAs work. They a tricky thing, so you need to understand the rules before taking any action. You will learn what a Disqualified Person is, the rules behind handling real estate in an IRA, and what other things you can find in a self-directed IRA. For more information, visit the show notes at http://www.bigpic...
