2 Burst results for "Medscheme"
"medscheme" Discussed on Biz Talk Radio
"He could cash out some of it if you wanted some of the cash right, and he could put it into ecstasies a big every once, he said. In the beginning, he wants to give some to charity put some of it and not the whole thing. But some of the low cost basis, stuck our real estate into a charitable remainder trust. And that basically he doesn't pay any tax on Right, because it's going into a charitable trust. But he gets income, often for the rest. Like I said he puts 500 grand into it right, and he'll be able to take $25,000 a year in income for the rest of him or his wife's life. Actually, he could even spread it or was Children's life depending on the scenario, right, But the idea is he also gets a big tax deduction. On that as well. So you convert some of this irate a Roth, which all this you're going looking at me like I got two heads. But the concept is he didn't you didn't pay any tax going in the IRA. He didn't pay any tax when we converted it because we took care of his need essentially here, right, We said, let's figure out a way you can still defer to the tax. The other million and a half in real estate. We talked about right. Hey, he has someone else property, manage it for the rest of his life, And then he passes away. Well, there's no tax to his kids or if he gives it away to charity, right, because right now there's this what's called a step up in basis. So this is the big thing I see with him is that he doesn't have a will or trust. That's crazy. If you come in the office, you are going to get that done right. We're not going to You know, let our clients not get that taken care of. I don't care. Rule number one. Don't talk about fight club and right. You get your will think we're going to get done? Because look who do you care about your own My son? I love him. Okay. Well, do you want this? You know if something happens to go through this headache No, and it's not a lot. I mean, go to your local attorney that you dealt with before or it doesn't. It doesn't matter. Get it done appropriately and fast and put the assets that you have in the trust. If you need to get that done, And then you're worried about your son spending the inheritance. You definitely probably need a trust at this point, because There's a common thing I think, man, kids don't know. I mean, young adults don't know how to manage money like you do, because I don't have a life. Well, you don't. It's not a you don't trust them. They just don't have life experience, right? And actually my kids are the oldest is 23. We get four. Legal adult. I'm more worried about the people that can influence them. Them them themselves, right. It's the people that can come in and go. Oh, we got a great deal for you. Just by this time share. Fantastic. You get all this great returning veteran Medscheme Exactly Come here and telling me talk to you about put all your inheritance. Into this stock, right? It's called Enron. Have you heard of it? Yeah, it well, it's it's great. They've got great value ponds. I think that you're talking about bonsai. Yeah, Ponzi, right. So I mean, there's a lot going on there. Look, there's charitable lead trust strategies he could. He's giving 15 grand away. Isn't why is he paying a requirement and distribution here? He could take it from them when we talked in less qualified charitable distribution. Yeah, he could be random. He doesn't. He doesn't know that charity anyway, right? Yeah. Just send it from your IRA in and takes care of your arm. Do you don't need it just said you're getting plenty income from the real estate. So there's many strategies here and that looked like a lot. But this is the kind of typical scenario and and it's The person that has someone managing the money. A lot of times is just their investment. Persian. It's just focused on Oh, this is what we did for you. Last year in your rate of return was 10 or five or 12 or zero minus 50. Whatever it is That's all they want to talk about. As opposed to here are some other things that can give you the peace of mind of knowing. Okay, I can go to my take care of my kids. I want to Travel on the RV, because that's what this this is really about. I want to go on the mission's trip. I want to continue helping church, but I want some peace of mind up doing it. There's someone or a team that can help me not to worry about while I'm away right and also that's called four companies to figure this out because currently They may have. You know this? They know the attorney, the investment guy, the life insurance guy, The tax person We've actually seeing five or six advisors spread out before because they just they have one for one policy or 11 investment account. And then they pick another one cause they like that person, But nobody's talking. There's like this fragmented mess. We don't talk to each other, about right and go. How come you didn't take advantage of that? Well, my C P probably would have recommended that, but he didn't know about that account. Yep. What do you mean, doesn't know. Well tonight, All right, so it doesn't show up on his tax return. Okay, So basically, there's no one really looking at your incomplete financial affairs. And you probably don't understand this gentleman probably is a similar situation is great in real estate. Look, can you look $2 million in real estate? Good for you? That's fantastic. But does he understand all the ins and outs of taxes and tax planning strategies? So that you know there's a lot of opportunity there for you to really maximize taxes, and it's amazing to me, man as you just because I just I read that going good grief. That's a lot to unpack. You just planned out that man's whole future just then, and like, four minutes, you just completely that you were here. I can see your brain working. When I was reading that you were like, Well, he can do this here and do this here and do this here. That's all part of the comprehensive plan, isn't it? This is this is the thing that I do, But I can't help build build your house finance. I mean, so the ideas it's the kind of the way we have to unpack People's lives right and say, Okay, they have the opportunities whether you know that's why it was important to hear what they wanted to do. I'm going to travel and to give the church still we also worried about our son spending. All right. Okay. Well, maybe you may need to lock it up in interest rates a common thing, right? But, you know, Hey, how can we accomplish Right past another next generation, save on taxes, but also accomplish our current goals. Right? Enjoy our life. Well, there's the question The complementary blueprint can help you answer.
"medscheme" Discussed on WMAL 630AM
"J. Simpson was stabbed this past week with the vaccine shot. That's right. He O. J. Simpson got the vaccine before your mom did. It's really nice to see S. Oh, he's got it. He was all excited about it. He tweeted a photo of himself getting the vaccine, he says, Get your shot. I got mine. He's got a face mask on that says the juice. So that way, although his face is covered, you know who would It's amazing to me that he still thinks that people want to see him in the spotlight. I guess we do talk about him in every tweet and remember what he joined Twitter. Actually, I think you would ever having the conversation of Should we follow him? I was like now. We shouldn't. We can't. But he still makes news. Yeah, I like his his Twitter videos that again They're all kind of like vaguely threatening. Hey, there. America. Remember me like, Yeah, We remember RJ. We see a buddy um, so anyway, so now he's a He's a leader. He's one of these people. He's a Kamila Harris like you get the shot. You do it in public, and you do it to inspire others. So O. J. Simpson inspiring. Million's this week. Also inspiring is Thea Extent to which our government has no idea what is doing the Pentagon. This is a real headline. Pentagon Halts Plan to Offer Cove in 19 vaccinations to get mo detainees amid backlash why did it have to get here? The Pentagon on Saturday, Fox News reports. Announced that it was quote, pausing a plan to give Cove in 19 vaccinations at Guantanamo Bay. After accusations from Republicans and 9 11 survivors that it was prioritizing terror suspects over Americans. Defense Department press secretary John Kirby. John Kirby is back at the Defense Department, he says, quote no Guantanamo detainees have been vaccinated. We're positing the plan to move forward as we review force protection protocols. We remain committed to our obligations to keep our troops Safe, Uh, they apparently Beverly had planned on vaccinating the 40 detainees. Gitmo and again before your grandma gets vaccinated they were going to do, uh, war criminals and included in this is the suspected mastermind of the September 11 attacks. Khalid Sheikh Mohammed or chaos them so Is it possible that chaos, um would get a vaccination before 9 11 survivors. That is where we are in this country. Once again, we have failed to shoot KSM. Uh, this time with the vaccine. So what? Like who in their right mind thought this was a good idea. The claim was the prosecutors were concerned that they weren't gonna be able to move forward with the war crimes hearings at the base, which let me say when did the 9 11 attacks happened? When did they occur? All that was almost 20 years ago. And we're still awaiting war crimes hearings that get mouth Right now. And you're telling me the pandemic is the thing that slowed down the pace. 19 years in all of us in the pandemic arrives and you're like, Oh, boy, we were really hurtling towards a resolution on these war crimes. But then the pandemic can't really slowed. Things down. Can't wait till we get a vaccine so we could get these guys back to trial. What? And here's the other thing. To me. It seems like jail cells was the perfect way to socially distance. I'm pretty sure even if they got cove ID there are there would be ways. If you're in jail to keep you from infecting the general population, which is not very large on Gitmo. This we're talking about soldiers there, Which, of course you want them to be safe went up, vaccinate the soldiers. About that. Look, let's save the vaccine for now. No vaccines for the war criminals and Gitmo. But as soon as there is enough vaccine that is after each and every American who wants one gets vaccinated. We should send Dr Fauci down there and he could administer the vaccine to KSM. They could just wear two masks. They'd be safe. They just mask double Medscheme found she could torture those guys. He could put them all into masks. Make it so they can't breathe. You know, maybe get some more information out of him. Um All right. So it just So you know, your government is paying attention to you ever so slightly 7 23 I w e mail where Washington comes.