35 Burst results for "Ric Edelman"
Judge rules Florida school districts may impose mask mandates
"He was 65 years old and leaves behind a wife and daughter and appeal already on the way after Tallahassee judge rules against the state's student mask mandate Ban Florida Commission of Education Richard Corcoran says letters will still be sent to school districts, not complying. We're not joking. I mean, you have to follow the rule of law. You have to do what is right, and if you're not going to do what's right, we will withhold your salaries.
NYC's Metropolitan Correctional Center to Temporarily Close
"The Metropolitan Correctional Center in New York City will be closed. John Scott explains the facility where Jeffrey Epstein committed suicide will be closed, at least temporarily to address issues that have long plagued the facility, including lax security and crumbling infrastructure. The jail currently has 233 inmates, down from a normal population of 600, or more, most expected to be transferred to a federal jail in Brooklyn inmates have complained in recent Years that the jail was invested with mice, rats and Roaches and that multiple inmates were forced to share dirty sinks and
University of Virginia Disenrolls 200+ Students Who Didn’t Comply With Vaccine Mandate
"A has dis enrolled more than 200 students who haven't gotten the required covid vaccine. Only 49 of them were enrolled for fall classes, according to the Virginian Pilot. A university spokesperson tells the paper. That may mean a good number of the remaining students may not have been planning to return to the university this fall at all. If any of these students get the shot by Wednesday, they can re enroll
Oklahoma Health Officials Awaiting Guidance on Third
"Commissioner Keith Reid says the State Health Department is prepared to administer third doses of the Covid 19 vaccine once it receives approval and final guidance from the FDA and the C D. C. This rollout should follow a natural progression Such that are most vulnerable populations, including Oklahoma's 65 Plus and our health care workers should receive it first. And then it will open up to all. Oklahoma Federal government says booster shots will be available to all beginning the week of September. 20th. Oklahoma U. S.
UAW Members to Vote in Fall on Direct Election of Leaders
"Set to vote this fall on direct election of its leaders. Salads will go out to the W 397,000 members October 12th the due back date a month later. Union monitor. Neil Barofsky, who was appointed by a federal judge as part of a settlement that avoided a government takeover of the union after a wide ranging corruption scandal will announce the results. Currently, union leaders are chosen every four years at a convention with the delegates picked by the local. But the new slate of leaders is picked by the outgoing president. And seldom is there serious opposition.
Chicago Police Officer Shot and Killed, Another Injured During Traffic Stop
"Police mourning one of their own after a 29 year old female officer died. Following a shooting on the city's south side last night, authorities say. Another male officer was critically wounded in the shooting following a traffic stop in Inglewood. ABC s Will Jones is outside the University of Chicago Medical Center, where dozens and dozens of Chicago police officers have gathered. These officers have been here. Throughout the evening. Since this shooting happened around nine o'clock in the West Englewood neighborhood at 63rd and Bell, they have been gathered together at points. I've seen officers embrace each other shake hands. At times they were huddled together. It seemed like that that they were praying. So this is really a very tough seen. Two men are now in custody, and police are searching for a third suspect. A woman. At least one weapon was recovered on the
Amid COVID surge, Amazon to require masks for warehouse workers regardless of vaccination status
"Wal Mart is doing it. And now Amazon will starting Monday, all Amazon warehouse workers will be required to wear masks indoors, regardless of vaccination
Delta Variant Suspected in Provincetown Covid-19 Cluster
"More problems emerging in Provincetown, the State Health Department has now tied 430 covid cases to a cluster in P town. Some of those cases are linked to the highly contagious delta variant for Covid. WBZ TV Space Tomato spoke to some vacationers who are taking extra special precautions. Family is off to Provincetown from Boston Seaport for the town's annual family week of activities. But this time around, they thought more about their travel plans. We've heard a lot of talk about the increased cases, but we're more focused on going to the beach spending time with just the family that we're seeing with increased cases of Covid 19 in Provincetown. Which the Department of Public Health and now confirms some of the more than 250 are linked to the highly contagious delta variant. They are on our phones. Um so they're all photographed ready to go travelers with vaccination cards at the ready as some establishments will require them and we called the hotel wanted to make sure there was any changes that we need to know about just to protect ourselves or anyone else going to the hotel. And they were just requiring vaccination cards, families attending family, We have to sign a waiver that they'll follow CDC guidelines and Children have to wear masks both indoors and out, and the health department says the vast majority of the covid 19 cases there are called breakthrough cases involving people who are fully vaccinated.
"ric edelman" Discussed on KGO 810
"And be NY Mellon and Goldman Sachs. They've announced that they're starting digital custody units later this year so clearly and relatively quietly. Wall Street is getting engaged. And by the way, just to illustrate how new this entire conversation is and how we haven't always figured out everything involving it. Well, you know, Tesla, Elon Musk bought a lot of Bitcoin through Tesla. That's created a big tax problem for Tesla. Tesla had $1.3 billion worth of Bitcoin as of March, 31. Now. Digital assets are not currency says the Federal Reserve. And the I. R s They are indefinite lived intangible assets. That's a tax term. In other words of a company buys Bitcoin. And the value falls below what the company paid for them. The company has to take an impairment charge. If later the price rises. The gain is not reportable until the company sells the asset. Well, we know that in the last couple of months, Bitcoin fell 50%. The value was 1.3 billion back in March. Today, the value is about half that Tesla is going to have to take an impairment charge in the second quarter, maybe as much as $100 million. Did they anticipate that? Did anybody on Wall Street? Anticipate this? What else haven't we anticipated? It's just an illustration of how new All this is, and we're experiencing all this for the first time. I'm Ric Edelman every week. I'd like to bring you the latest innovations from the field of exponential technologies. Researchers say A new blood test called Gallery can detect more than 50 types of cancers. That often go undetected until it's almost too late right now, According to the National Cancer Institute, there.
"ric edelman" Discussed on WLS-AM 890
"Welcome back to the Ric Edelman show. We're talking about the elimination of income inequity and the ability to help all Americans create wealth and joining me in this conversation. Kevin Hassett, distinguished visiting fellow at the Hoover Institution and former chair of the White House Council of Economic Advisers in the Trump administration, along with Teresa Ghilarducci, professor of economics at the new school for Social Research. And a Bill Clinton appointee. So if we have tens of millions of Americans reaching ages 60 70 80 90, and they're out of money because they didn't or weren't able to save during their careers. The government's burden for caring for those folks will become insurmountable, so this is actually a far less expensive way to deal with this issue. Setting aside the humanity, which we could argue is even more important. It also is a family issue. Um daughters and and daughters in laws, adult daughters and daughters in laws have had to bear the burden of taking care of an engine, Um, up for father Mother in law or their own parents. It's a burden for families to have to have Grandma move into, You know, a renovated garage, and Grandma doesn't want to do it, so it preserves the dignity of a families and adults to live independently and and form close on voluntary family ties. We had mentioned my proposal as well, which is a wonderful companion concept. I take a different approach. As you both know, having being familiar with my proposal called Rise the retirement income security for everyone. Idea which instead of saying that we're going to provide a broad based availability of retirement savings for workers who currently don't have that opportunity. My premise is, why are we waiting for people to get jobs because they generally don't do so until they're in their twenties. Why don't we start providing for retirement as soon as babies are born and grab an extra couple of decades of compound growth? Because the sooner you start, the less you need to save in order to have an impactful amount of money, So give me your thoughts on the concept of creating a way to start saving for retirement. Upon birth. You actually hit something that was a really happy surprise for me and Teresa. You can start a fund for people as soon as they're born and maybe throw a couple $1000 in it and then started, you know, really growing 20 years later, when they get a job, and and I think that's a great idea it that was something I think surprised Teresa right when I said you're really hearing Um, two economists really coming from different political points of view and alliances and habits of mind and and connections. Coming together one in the same plan and seeing it from different points of view. And if there is any hope for bipartisanship, it will be exactly listening to each other and seeing the facets. It's practical and reasonable that people at birth kind of have a little level playing field. Some kids coming to, um, you know, under the birthing table with the debt behind them. Others come with the so called silver spoon. And all enrollment at birth or a baby bond or the right bonds as a way they're just have everybody starts in the same position. We do that anyway, with health care for Children for for education for Children. Let's just try to close that wealth gap, but we also want away hard working people when they've dedicated their lives to supporting their families Group. Working for themselves or somebody else. Really good practical designed to save for their retirement, and that's what we've come up with. We hope that Congress refines it in their way with their own bipartisan discussions. And come up with something that supplements Social Security for everybody. And that's what you want. It makes a lot of sense. And through the efforts of the economic information, innovative group the eeg dot org we just talked about, um they have a way of talking to a broad spectrum of legislators. Really is a national plan and requires a bold that will move and we're pretty hopeful that we'll hear. We'll have legislation inform this summer and public introduced in the phone. And and Rick. The one thing that you've dedicated your life to is basically financial education, you know, basically teaching people about like, you know how to be financially savvy, how to invest in things and, you know, improve their lives down the road. And, um, something that I've done just personally with my family is I did something like this Now, Of course, I'm fortunate to be able to Fund it myself. But for both of my boys when they were really young, I put a little bit of money in a investment account, and I told them they could do whatever they want with that money, but they can't take it out. And one reason I did it That is that I believe in efficient markets. And so I figure you know how bad is their decision going to be because they're paying like the market price for everything If they trade and you know they could see if they trade too much, then they're you know, eating up all their money with trading fees and things like that, But I think it really helps them become financially savvy. And, you know, I think they'll be better citizens because of that, And I think it would be great if kids had an account and they got a statement. And you know if they were like really good economic times because of great economic policies supported by eager party Then folks would see that the money in their account was going up and they would start to see, you know, basically a cause and effect that would create a positive political feat that for good policies. Well, I I hope the two of you have good success on your efforts on Capitol Hill of getting a proposal adopted and I'm hopeful as well that my rise proposal will get light of day as well. The message for everybody listening to us right now is that there is a lot of work being done by some very smart people. You're hearing from two of them right here. Tackling one of the biggest economic challenges our nation faces, and I just want to say thank you so much to Kevin Hassett. And to Teresa Ghilarducci for the work. You're doing the initiative. You both undertaken. And the collaboration that you've done together, breaching the political spectrum to get things done. And so I wish you both the very best and I'm so excited that you spend time with us here on the show. Thank you Read. That was Kevin Hassett, the former chair of the White House Council of Economic Advisers and the Trump Administration. And Teresa Ghilarducci, professor of economics at the new School for Social Research and an appointee in the Bill Clinton administration. And if you would like to read their proposal for solving income inequality in America, along with my proposal for doing the same Both of these are available for you at our website. Just go to rice. Delmon dot com. This is the truth about money. Hope you're having a wonderful holiday weekend. Remember, Anytime you have questions about your investments or any aspect of your personal.
Bruce Springsteen Reopens Broadway With First Full-Capacity Show Since Pandemic
ER Visits for Suspected Suicide Attempts Among Teen Girls Rose During Pandemic
"Says. Suicide attempts spiked among teen girls during the Covid 19 pandemic and May 2020 and increase started an emergency room visits for suspected suicide attempts, especially in girls. 12 to 17 years old.
Harris Takes on a New Role as She Heads on Her First Overseas Trip
"President Kamala Harris steps onto the world stage. Today she traveled to Guatemala navies, He's Mary Alice Parks in Guatemala City sing immigration is the focus. Vice President Kamala Harris, making her first foreign trip with a two day swing to Guatemala and Mexico. Her mission one that has stumped many American leaders before. How to slow surge in migration from the region now at levels not seen in decades.
"ric edelman" Discussed on KGO 810
"It's creating a lot of debt. Well, then, yeah, we'll show you how to break those habits and how to do things a little differently. But other than that, if you've got a bunch of money and credit card debt, So what? Okay, great. You got a bunch of credit card debt. Let's deal with that and move forward. We're not going to be right you for what you did that got you where you are. We're not. Historians were also not psychologists. We are planners, which means we focus on the future. So all we care about is where are you right now? And where is it? You want to go very often? In fact, people don't even know where they want to go. And we're pretty good at helping you figure that out to figuring out what the goals are that you want to set and then showing you a practical, tangible, achievable way. To achieve those goals. It's really that simple. So I hope you'll not put financial planning in the context of spending time with people that you argue with or An uncomfortable circumstance with your parents and the video that you happen to be watching or spending an hour in jail or getting stung by the bee or Heaven forbid the stereotypical visit to the DMV. I'm Ric Edelman. You're listening to the truth about money. If we can help you with any of your financial decisions, strategies questions you've got about your personal finances. Call us Triple eight planned wreck or Mm. They, Armstrong and Getty here and with continued concerns about the.
"ric edelman" Discussed on WLS-AM 890
"Of them critically Saturday when an electric arc furnace exploded play below. Fire Department Assistant chief Keith Miller says they had 130 tons of steel inside that furnace. It Acts temperature so They had. It sounds like a cooling system failure, which is how water was introduced, which is Intentionally what caused the explosion. The U. S missile Defense Agency in cooperation with the U. S. Navy tested a ship based system intended to intercept a medium range ballistic missiles Saturday, but says the test failed. It was conducted in the Pacific off Hawaii and that it failed to intercept the target there now reviewing the cause of the failure. This. Is ABC News. Overall, the expressways air light and find no worries along the Edens at just 15 minutes late Cook Road and Kennedy sample on the Kennedy Expressway between the airport in the burn interchange Eyes and our 22 minutes. 3 92 away in the old post office. Stevenson 23 veterans to Lakeshore Drive 17 in from 2 94, The Terrans 11 95th in the burn interchange. No worries along the Ford Freeway. I 57 lakeshore Drive. Skyway 80 or with the two always, however, locally reported an accident. Elk Grove Village is divine right near to 90. There's a crash, including one along the westbound side of 80 94 blanking four right lanes near Klein slows in Annapolis Boulevard to the scene from the W L. A sane man Andrew Traffic sent around Jan shipping with their next update in 30 minutes. The following is a paid program sponsored by Ric Edelman and is not affiliated with WLS radio or a cumulus media. Listeners should consult their own advisers and conduct their own research before making any purchases. Investment. So I'm making any financial decisions. Sour is sponsored in part by the Ric Edelman show, airing Sundays from 9 to 11 A.m.. Views expressed on this program and not necessarily the views of the station. Content is for educational purposes. Only consulted financial advisor or conduct your own Due diligence of investing calls a pre screen and the show was pre recorded earlier this week..
Cristhian Bahena Rivera Convicted of Killing Iowa Student Mollie Tibbitts
3 Tacoma Police Officers Plead Not Guilty in Manuel Ellis’ Death
At Least 100 Climbers, Staff Infected With COVID-19 on Mount Everest
"Enough of a challenge. Climbers and guides are getting Cove it. Ah climbing guide says At least 100 people tested positive for covert and base camp. Nepalese officials say there's no outbreak on the world. Largest highest peak. If you go to Ocean
CDC Mask Guidance Slammed by Leading Union
"ric edelman" Discussed on WLS-AM 890
"You've just painted a very rosy picture that could get people's their mouth watering with with excitement, But you're not putting 100% of your assets and you're putting a very, very small piece. Therefore, you obviously recognize that there are things that could go wrong. What would you say that those are? Well, First of all, there's a lot of volatility of Bitcoin is seconding that could go wrong is the regulatory landscape globally is still uncertain for Bitcoin. Despite all of that, I do think Bitcoin is here to stay. And yet there's not a terribly easy way for most ordinary investors to engage. There isn't a Bitcoin T T F, for example, and even your fund is restricted to accredited investors. So it's illustrative. I think that we're seeing somebody like you, Anthony, who is Aziz mainstream. Wall Street is it gets who is integrated as anybody in the financial markets to be acknowledging that there is a new asset class under development that is very different from other established asset classes. And it is likely that we'll continue to see further adoption down the road. Investors need to balance the opportunity against the risks on recognize what are the ways to proceed if it all in conjunction with their financial advisor. What would you say? Is your final parting advice for listeners to the program? Is there contemplating this notion? Well, I think you're saying even better than I could say it, But I would say we always have to be cautious and are investing. We also have to make assumptions about getting things wrong. Uh, I think we're very, very early here. And so yes, it has risk. But I would recommend to people a few percentage points of your assets in there. That's Anthony Scaramucci, the founder of Skybridge Capital Here on the rig, Gentleman show. And if Anthony, if people want to reach you, how did they find you? Well, I'm easy to reach and I try to respond. Everybody I'm a Scaramucci it skybridge dot com. It sometimes takes me a little bit, but I have that o. C d email reply. Of habit, which unfortunate my wife would like me to break but it feels like it's unbreakable. Well, Anthony, I really appreciate your taking time for us on the program today. Thanks for joining us. Great to be here, right? Thank you. That was Anthony Scaramucci of Skybridge capital. If you are wondering, what are all these people doing with all the wealth that there have been creating and what they expect to be creating. When we return. We're going to be talking about how Bitcoin is changing the world of philanthropy. So stay with us for more here on the record, Ullman show and remember. If you've got any concerns about whether your portfolio is properly positioned right now, with everything going on, call us a Triple eight plan. Rick. That's Triple Eight Plan Rick or visit US Online at Ric Edelman. Com..
Gov. Cuomo's Communications Director Resigns
Man Assaulted Walmart Worker Over Mask Request
"A Rhode Island man facing charges accused of assaulting a 16 year old walmart worker after he asked the man to put a mask on his young child. Michael Carro of Woonsocket is charged with putting the store employees in a choke hold and then punching him after police say he refused to follow store policy on wearing mask it happen. Last Tuesday at the Wall, Marty North Smithfield, an anonymous tip led police to Carrow. He ended up turning himself in. He's charged with simple assault and battery and disorderly conduct. He was released with a court
Coast Guard Searching for Survivors After Boat Capsizes
"Still searching the site of that capsized lift boats off the coast of Louisiana. They have recovered. The bodies now have tomb or crew members. The Coast Guard, declining to release more details Saturday. The vessel, which supports offshore oil rigs overturned Tuesday and rough weather just south of the Louisiana coast. Breaking
"ric edelman" Discussed on KGO 810
"Question is this I have known. I added regular brokerage accounts in this kid, mainly in large ideas with Fidelity and E trade. No, Morgan Stanley Each of these chrome says balloon toe couple of million dollars each. So I realized the market and security risks a bear. My question Do is what happens if someone fortunate situation our races with David Fidelity of Morgan Stanley? Ideally, these large firms and client a concert infringed. They understand that it's a PC provides the would find it care for insurance for it uniquely named account. But that's a PC. They look at your overall cost basis. Right. So you're worried Nathan, that Fidelity or Morgan Stanley itself might go out of business it of that or something happens. You know, I can't predict. What might happen. They call those a black swan event. You know something you can't predict. Exactly. I mean, even if something doesn't happen in deep, freeze the account for three months until they clear things out or some Cybersecurity issues happening. Things could happen me you don't never know on. You know, Fidelity says they have insurance with additional insurance at Lloyd's off London and I'm sure Morgan has something similar. Yes, my question is Apart from opening a comes with every other brokerage out there under different combinations off my my name and my wife named Joran, please. Deputy Exeter. How did you manage this risk? Is it real or imaginary? In your case. How do you protect your clients? Investments under your management? Thank you. Yeah, It's a good question. They thin and unfortunately, there's no answer. That's going to make you happy because I'm going to give you the answer. And you're not gonna be happy with it. And the answer is Don't worry about it. Which is not a really effective answer, because it doesn't address your concern. What is the risk? And what can I do about it? And the answer is yes, It's a risk. It's not imaginary. You're correct. That's why they call them black Swan events. We, you know, something can happen that we never On of looking covert 19, the ultimate black swan. We never saw it comin and look at the havoc that it is created. You never know. Look at 9 11 the horror and tragedy of that day, which, by the way, shut down the banking system for three days. And so on. So you never know what's going to happen tomorrow. And that is why I say Don't worry about it because we can't control it if it happens and more to the point If it does happen, it's not going to happen. Just a fidelity or just a Morgan Stanley. It's going to happen to the entire financial system, which means it won't matter which institution you were using for your accounts. Whether it was those two or any of the other 200 that are out there in the country. It's not gonna make any difference. You know, you could have the greatest cabin on the Titanic. You're going down anyway. So that's why I say Don't really worry about it. Now. What about idiosyncratic risk? Which is a risk that something on Lee happens to your firm and the one that comes to mind is cyber security risk, but also what happened to best earned today. During the financial crisis. Yeah, well, exactly. I mean, I'm Lehman Brothers by extension, So, Yeah, So let's take a look at something bad happening to one specific company where the company gets hacked. Or due to bad business management. The company goes broke like Bear Stearns and Lehman Brothers. Well, if the company goes down, then you Really don't have to worry about it because there will still be a record of the shares you own, and the shares can be transferred to another institution. So when Lehman Brothers collapsed, the customers of Lehman were still okay now, those who bought the investments Lehman was selling that went broke. They were not okay. But that was because of the investments not because of Lehman. Same thing at Bear Stearns. They were buying collateralized mortgage obligations, which one worthless, But if you bought a mutual fund at Lehman Brothers, your mutual fund was still fine. And so you don't have to worry about it from the risk of something going wrong in an individual company. The system is designed to provide Orderly operation, And that's why the SEC pay such close attention to the structure and functioning of the financial markets so that investors can have confidence that even if one institution goes down The government will step in and have the assets transferred to another institution. For example, they arrange for Bank of America to acquire Merrill Lynch because it looked like Marilyn Chuan is going to go down. And they didn't want to have that happen because they saw what happened when Lehman went down and they didn't want a repeat of it. So I don't think you have to worry about it. Now when I say that what I mean you have to worry about it. Your shares will transfer from the brokerage firm the collapsed to another brokerage firm that didn't collapse. The question then becomes, is what one of the shares worth you might still have your shares, but they might be worth little to nothing. That's the difference between the system and the market. So market prices may fluctuate. We pay our money. We take our chances. But as long as we know the shares air there than the system is operating, and that's all that really matters, and that's why I say I don't think you have to worry about it because I'm confident the system will survive. And if the system does fail, you know the whole Putin caboodle collapses. It's not gonna matter Where your money, Woz, we're done. And that's why I say Don't worry about it. Excellent Mrs Steaks and six Because this has been bothering me for the way, you know, you know how to manage this. But this this explains that. I mean, I understand things better now. Thank you so much for that answer. You're very welcome. Just call me Alfred E. Neuman. I'm Ric Edelman. You're listening to the Rick Adelman show. Or maybe I should start calling it the Alfred E. Neuman Show called us The Triple Eight Plan Rick or visit Ric.
"ric edelman" Discussed on KIRO Radio 97.3 FM
"Tonight or visit Ric Edelman dot com minutes away now from the Senate impeachment trial, the latest from CBS News Impeachment trial of former President Trump's About to begin in the U. S. Senate Democratic leader Chuck Schumer says the case is compelling urge all my colleagues to pay careful attention to the evidence. I particularly urge my Republican colleagues Despite the pressure on them. Pay very real attention to the evidence here because it's very, very serious. Robert Sumwalt, chairman of the National Transportation Safety Board, says the pilot of Kobe Bryant's doomed helicopter flew through clouds when he shouldn't have and got disoriented. We're talking about spatial disorientation, where literally the pilot may not know what which way is up or down, whether he or she is leaning, left or right? Not likely a lab leaked but animal to human transmission for the start of the Corona. Virus in China, according to Dave to an international team that's investigating. CBS News BRIEF. I'm Steve Kfit. And I'm Erin Granillo. Washington Senator Patty Murray, pushing back against critics who say the Senate has more important matters to debates, then the impeachment trial, she says Americans have shown this past year they can take on a lot salad. Once students, educators, Frontline workers, you name it. They don't have the option to pick just one problem to solve. They've got to get it all done. And so do we. Washington state's closing in on one million covert vaccination, So far more than 940,000 doses have been administered, and that is nearly 80% of the supply the states received. Meantime, of Seattle City Council member says she's concerned about vaccine Inequity Council president Lorena Gonzalez says 5% of initial vaccines have gone to Latinos, even though they've made up 32% of cases. Health Department says it is working to address those gaps..
"ric edelman" Discussed on WLS-AM 890
"Bug because the Wall Street machine will not let you win if winning makes them lose. Element financial engines. We've been showing our clients for decades how to really play the Wall Street game And in today's world of demonetization, democratization and Gamification, you need a partner to guide you more than ever. Those new, naive investors who have no idea what they're doing, or who they're up against. They think they're getting rich quick. What they don't realize is that they're just suckers and a pyramid scheme, a pyramid scheme of their own doing. Bite for a dollar watch you buy for $2 the next guy bite for $4. Everybody's happy until the music stops and you're stuck selling for 10 cents. You might be saying, Rick. Why does it matter? I'm not trading game Stop. Who cares if these traders get whacked by Keyser Soze, A That's what the markets are all about. Right? You invest to hope for the best. Some win some lose. That's how it works. Yeah, I can see your point. But consider this. The brokerage firms never expected a flash mouth to show up when the Reddit message board told the 3.2 million users too quick go by game stop. All their trades flooded the brokerage firms, websites and those websites crashed. We're online service disruptions this week at Schwab, Fidelity, Marilyn ETrade, Robin Hood, TD Ameritrade, Interactive brokers and Vanguard Their websites all crash because they couldn't handle the trading volume, And that means ordinary investors you and may just trying to go about our day we suddenly couldn't make deposits asked for withdrawals, even check or balance is So this is impacting you and may And one of those Robin Hood investors who suddenly can't trade like they want. They're facing big losses because the machine shut him down there Getting angry. Remember occupy Wall Street, The 99 percenters did sit ins for weeks. They weren't investors losing money with riots on Capitol Hill in Seattle and Portland, Milwaukee and elsewhere. Well, these angry investors riot as well. Andrew, left founder of one of those hedge funds, says angry traders have hacked into a social media accounts. They're sending nasty text to him and his Children with profane threatening language. So my advice for you, so we need to get all this into the open. We need investigations. We need to know who the hell Keyser Soze A is and defang him. We need to open the financial markets, all Americans fairly and openly and for now You deal with your investments realized that the temptation to get rich quick by jumping into the game of buying a stock merely because it's going up. It's a highly dangerous game. No wonder this week, Bank of America says, where an extreme rally and they're predicting a market correction by April. The International Monetary Fund also warned this week about investor overconfidence. So let's keep our heads about us. Don't do anything rash. Don't make big bets. Don't treat investing like a casino. Make sure you rely on a professional financial advisor who can help protect you from Keyser Soze. I'm Rick. It'll Triple eight Plan Ric Ric Edelman calm.
"ric edelman" Discussed on KGO 810
"You the peace of mind you need to invest in the financial markets. It's a minimum of $250,000 to make this work. You can get more information at Ric Edelman calm. Let's go to the phones here on the wreck. Gentleman shows they had a gene in Folsom, California. Welcome to the program. Jean, How can I help you today? Well, I've been thinking recently about taking my initial investment out of Stop said have increased. Who wondered if that is the wash sale on your taxes With the increase. I'm feeling that it's a bit of a bubble and things have ready Go down again. I've lived through this for 20 years up in general. Up again. I really invest for my Children, not myself. I don't need the money, but I thought it seemed prudent to take some off the table, as they say, and wasn't quite sure about that. Got it. So So let me ask you, Gene. If you were to sell these stocks today, what would you do with the money? I really have it re invested, You know, just hopefully, uh, is the next downturn? Buy more stock? Probably got it. Here's Other tax rules work. If you own a stock and you sell it for a profit, you're going to pay taxes on that profit. You can turn around and re buy that stock again. And you will then pay taxes on that profit when you sell those shares in the future, no big deal. That works on Lee. If you have a profit, let's say that you sell a stock for a loss. If you saw a stock for a loss, you get to take a tax deduction for the loss. But if you re by that same stock within 30 days You're not allowed to take the loss. That's where the wash sale rule comes into effect. In other words, the Iris says, You can't sell a stock, capture the tax loss and then re buy the stock immediately because you only played attacks game. You weren't really economically trying to get rid of the investment. And so they make you stay out of that stock for 30 days, so you would have a choice. You are there. Don't sell it or you sell it and wait for 30 days. You can as an alternative, go by a different stock. In other words, Let's say that you sell Google. You can. Then go buy apple. You know, as long as you don't buy this same stock now, many people would argue, but there's a big difference between Google and Apple. I wanted on Google. I didn't wanna own Apple. So it's a bit hard to do that with individual stocks. It's easier with stock mutual funds or each gaffes. You could sell one growth fund and buy another growth fund. As long as you're not buying the same exact fund than the wash sale rule won't apply. So it sounds like none of this matters to you because your stocks all have gains and therefore the wash sale rule does not apply to you. You don't have to worry about it. All right, say Facebook. I have a considerable gain in that and it seems like I should take some off the table. But I'm thinking about that initial amount that I purchased it with. Is that still deducted from the game? So let me explain to you how the gains are calculated. You take the amount you receive for selling the stock. You subtract your cost of buying it. The result is your profit. So let's say that you sold it for $100. But you had spent $20 to buy it. 100 minus 20 equals 80 80 is your taxable profits. I see Well, I appreciate that very much and thank you for taking my call. You're very welcome, Jean. And I think this is further illustration of why mere mortals should not be preparing their own tax returns and why you should rely on a tax adviser and financial advisor to help you figure all this out. Well, we also didn't even discusses whether or not you ought to be so in these stocks and whether if you do so the stocks you ought to be buying them with similar like kind Stocks. Ex cetera, etcetera. It all comes down to portfolio management risk management how to get the returns. You need as opposed to just a get rich quick. I'm going to try to make money fast and all that kind of good stuff. So, Jean, thank you so much for the call. I'm really glad you did. I'm Rick Adelman. You're listening to the truth about money. Triple eight planned wreck off the Lynn, Massachusetts. Paul is standing by. How are you doing, Paul? Good. Good. Thank you very much. Thinking my question. Thank you. My pleasure. I gotta say I'm an ad that would have been listening to your community. Your seminars all here in Boston. Well, I'm glad to hear that. Thank you so much. And what can I do for you today, Paul? Well, here's my question about 13 months ago. I'm given in service withdrawal from my 41 came, we'll get into a rollover IRA. Um, you know, with the option of the thought I'd have more choices in the whole bit. And I was looking at my statement at the end of the year. And this is what prompted me to question to you guys is I have a rollover IRA and I have a Roth IRA with the company and I see on both of them they have is what I think is a large amount of money in a fun called Advisory Retirement Sweet program, and I'm looking at them and they have, like $27,000 in my rollover IRA and $4000 in by rock, and it makes basically no money. It's like being in a bank account appears to be Compared to if it was invested would seem to be a lot. So my question was what is an adviser in retirement Sweet program that financial advisors using your portfolio? Generally speaking, I'll tell you what a sweep is. It's possible that this might be something different, because I don't know the firm that you're dealing with or what they've structured it. But But generally what I suspect is the case here. Is that it is a sweet meaning you own investments inside your account. As you mentioned those investments periodically throw off distributions. The funds in the investments pay dividends. Sometimes capital gains and that triggers cash. Well, What is this? The advisory firm do When that cash is generated by your investments, they sweep it. Into a money market account, and that's what you're experiencing. So the money is in that money market account where you've observed its earning a very,.
"ric edelman" Discussed on WLS-AM 890
"So visit Forbes dot com. Search for my name Ric Edelman to see my latest vlog. You can also follow me on social media where I'm posting news info, articles, lengths to important financial planning topics along of course, with links to this radio show, And if you miss a show every week, I'll post a link so you can listen as a podcast on Twitter and Facebook. And if you're on social media, follow me on Twitter at Ric Edelman. Now look forward to connecting with you on Social Media. You know, there's a lot of dicey nous going on in the world. Right now. We're dealing with Cove it where a lot of questions as to the new administration and what laws and policies we can expect. What's gonna happen with tax law? The Iressa saying We don't even want your tax return until February, and there's a lot of folks trying to figure out what is going on. What should I be doing with my money? And I got an email from Cindy this week. And she expressed a very I guess alarm is the only word for it from her email. She said, Rick I read online that the National Global Economic Security and Reformation Act was signed by Bill Clinton in 2001. I heard that they are now testing the system and that they're going to replace the Federal Reserve and they're going to take all my money. Well, I was able to come Cindy down, but I want to help you with this as well. The National Economic Security and Recovery Act. Yeah, it was an idea. In the 19 nineties, it would have replaced the income tax with the national sales tax that would have abolished compound interest on loans would have returned us to a gold standard. And guess what? It's all nonsense. These proposals were never even introduced into Congress, let alone a bill passed by Congress and signed into law by President Clinton. It's utter nonsense on the Internet. And for some strange reason, this information continues to be out there. So my warning to you is very simple. Please stop surfing the Web. Please ignore emails You get Telling you of dire things that are going to happen. The federal government is not about to seize your 41 K. They're not about to have a state takeover of all banks in this country. They're not about to. Return to the gold standard. It is all utter nonsense from people who are trying to scare you trying to make you think that you got to be frightened by what's going on in Washington. People who are trying to sell you something such as by this investment, liquidate your IRA and turn your money over to us so we can sell you an annuity or to sell you gold or to sell you war knows whatever it is they want to sell you. We need to get a grip. There's a huge amount of misinformation out there, and we need to make sure we're not scaring ourselves unduly unnecessarily and completely avoided. Lee If you do come upon wacky crazy information, please.
"ric edelman" Discussed on KGO 810
"Can also go online to rice, Delmon dot com That's Ric Edelman. Com from My colleagues will be happy to answer all your Personal finance questions and help you with your investment management. Whatever it is you happen to be needing. Let's go to the telephones here on the wreck. Gentleman show off the Moloch, New Jersey. Josh is with us on the program. How you doing, Josh? Good. Thank God. Rick. How you doing? Doing very well. Thank you so much long time listener. First time caller. Well, I'm glad you've made the decision to give us a call. Um, you feel on your primary home? You should have a mortgage as long as you could and try to keep that pretty. You know, as long as possible. I wanted to know what you feel about investment properties. My own 21 investment properties. My purchased one at a time. Slowly like, can't condo town homes. One of the time I might go up to try to get up to 100. That's my goal slowly one by one. Um, I paid them off. I have 25 m your memorization loans because the commercial loans and pay them off on 15 year memorization. I wanted to know what you feel. Should I do, Mom? 25 year immunizations. I don't need the money. I don't use the income. Um, that I get from it. Whatever income to get from Thinking the monthly income that against Fred just put right in back into purchasing more properties. I wanted to know what you feel to have him off with a 15 year amortization or on a 30 year 25 year memorization. Well, Josh, I'm going to give you advice that is contradictory to what everybody everywhere says about investment real estate. So let me preface it by giving you that caveat. When you invest in in real estate, the key to investing is leverage. That's how real estate investors make so much money on it is common. Um, when Donald Trump said this when you know he was first, of course, most famous for his real estate investments. And he made the point. Very clearly. If you owe somebody $100 you have a problem? But if you owe somebody $100 million, they have a problem. Andre. That's really the fundamental point of all. This is the fundamental fact that having loans gives you leverage gives you power. In other words, you could buy a million dollar property in cash for a million dollars. Or you could use 100,000 as a down payment, and now you could buy 10 properties. And you could have 10 times as much real estate working for you, and that's your premise of what you were doing. So it is classic within the real estate world to use borrowed money for the purchase of property because it allows you to buy that much more property and have as the properties grown value. You've leveraged up and it all is wonderful. When it doesn't go your way. Real estate crash yet wiped out, but that's the nature of the game. And so it is common for leverage to be used on that basis. I would argue that you go with a 25 year amortization. In other words, keep your payments low, spread out the payments as long as possible to maximize your leverage. That's the traditional answer for real estate. And that is not my answer. And the reason I say that is simply because of safety. Think about this In the world of stocks. When people buy stocks, they don't borrow their stock portfolios. Most often. I mean, you've heard of things called Margin accounts where you have the ability to borrow up to 50% of the value of your stocks. So instead of investing a dollar, you get to invest a dollar 50. With your dollar. And why is that The people don't do that, because they know the risks of investing with borrowed money. So my attitude is, you should treat investment real estate the way you treat investments with stocks. Hey, cash. And of course, if you follow my advice, two.
"ric edelman" Discussed on KGO 810
"To important financial planning topics along of course, with links to this radio show, And if you miss a show every week, I'll post a link so you can listen as a podcast on Twitter and Facebook. And if you're on social media, follow me on Twitter at Ric Edelman. I look forward to connecting with you on social media. You know, there's a lot of dicey nous going on in the world. Right now. We're dealing with Cove it where a lot of questions as to the new administration and what laws and policies we can expect. What's gonna happen with tax law? The Iressa saying We don't even want your tax return until February, and there's a lot of folks trying to figure out what is going on. What should I be doing with my money? And I got an email from Cindy this week. And she expressed a very I guess alarm is the only word for it from her email. She said, Rick I read online that the National Global Economic Security and Reformation Act was signed by Bill Clinton in 2001. I heard that they're now testing the system and that they're going to replace the Federal Reserve and they're going to take all my money. Well, I was able to come Cindy down, but I want to help you with this as well. The National Economic Security and Recovery Act. Yeah, it was an idea. In the 19 nineties, it would have replaced the income tax with the national sales tax that would have abolished compound interest on loans would have returned us to a gold standard. And guess what? It's all nonsense. These proposals were never even introduced into Congress, let alone a bill passed by Congress and signed into law by President Clinton. It's utter nonsense on the Internet. And for some strange reason, this information continues to be out there. So my warning to you is very simple. Please stop surfing the Web. Please ignore emails You get Telling you of dire things that are going to happen. The federal government is not about to seize your 41 K. They're not about to have a state takeover of all banks in this country. They're not about to. Return to the gold standard. It is all utter nonsense from people who are trying to scare you trying to make you think that you got to be frightened by what's going on in Washington. People who are trying to sell you something such as by this investment, liquidate your IRA and turn your money over to us so we can sell you an annuity or to sell you gold or to sell you war knows whatever it is they want to sell you. We need to get a grip. There's a huge amount of misinformation out there and we need to make sure we're not scaring ourselves undue aly unnecessarily and completely avoided. Lee If you do come upon wacky crazy information, please check.
"ric edelman" Discussed on WIBC 93.1FM
"Eastern Register now, ric Edelman dot com. That's rice, Delmon dot com 93 w Y PC mobile news on the level on the go. What's some of the experts predict will happen with this president. See Clear skies 31 degrees in downtown indium Rob comic. Here's what's trending at 6 29. The Biden administration will be different. Biden made some of those points in his inaugural speech today, Chris Davis reports on what some Hoosier professors believe the next four years will be like for the country. We do see a different approach here what political scientists might call soft power. Versus hard power. Dr Elizabeth Benyon, political science professor at IU South Bend. She was part of a panel discussing the speech Wednesday afternoon. And that really is a stark contrast to the outgoing president's recent speech, where he argued that showing power is what made us a leader in the world, she says. Biden's approach is leading by example, rather than just by might And trying to attract allies. Chris Davis 93 w I. B C Mobile news and President Biden is already getting the war work. Signing his first executive orders. He's returning the U. S to the Paris climate agreement and reversing President Trump's travel ban on a number of Muslim majority nations. He's also signing orders directing the Education Department to extend a pause on federal student loan payments and interest. And extend the ban on evictions and foreclosures because the pandemic In addition, there's an order signed to require the wearing of face masks on all federal property and for interstate travel charges against a former teacher at Speedway schools, Ashley Fellow reports Tyler Carmichael is charged with sexual battery and child seduction. Police say there was an incident involving Carmichael and a student in November. It happened off school property, says Speedway PD, and not while school was in session. Ashley Fowler 93. W I. B C Mobile new A new told Bridge from Evansville into Kentucky is a step closer to starting construction. Although it is still several years away. Indiana's been choosing among five possible routes to connect.
"ric edelman" Discussed on KGO 810
"The wreck. Kettleman. Show it off The Denver Brian is with us on the air. Welcome to the show. Brian. How are you? I'm doing well, How are you? Very well, Thank you as best we can during these challenging times as they persist, But what can I do for you today? So, um, I've been making a job change at the end of January. And, um Currently for one key program. My reporter is managed by Fidelity. The cur. The new employer doesn't have a 401 K program at the moment. However, the pay increase that I will be getting as well over 30,000. A year. And so I just turned 47 saints and advice on Can I roll over my farm on key somewhere else or do I even need to do that? With my current ball on My current company offers 80 cents on the dollar. They'll match up to 6%. I'm currently contributing pulp percent. On my figure that doing the job move and Having no 401 k. I will most likely have up that percentage. Let me ask you this. You said you're getting a pay increase of $30,000. What percentage of your pay is that increase? I would say, probably 30%. Okay. And the reason I site that is that you're giving up a 6% match that your old employer was giving you which means in five years It's a wash between your old job and your new job in terms of compass that makes sense. Yeah. So strongly encourage your new employer to create a 41 K plan for the company and to create a match. Otherwise, you're making a move that will in the long run could very well prove to be a lateral move, not an increased move. So just food for thought. Let me address the key question. You've asked now that you're leaving the job. Do you have a choice to make And you noted your two options. You can leave the money where it is infidelity in Therefore one k. You don't have to do anything different. You can leave it there. If you're happy with the investments that you have in the 41 K. You're satisfied with the costs of those investments. Leave it alone. There's no particular motivation or need to move it. You can, if you prefer. Move it to an IRA, either to an existing IRA that you have, or just opened a brand new hire A if you want to, and it's called a rollover IRA. And anybody can help you do this in the business. Any financial advisor and a brokerage firm on the online discount broker and the mutual fund company banks, insurance companies, Everybody everywhere will be very happy to help you do this. In fact, 65% of the money That advisers manage. And including mutual fund companies and others. It is for one K rollovers. It is a very common source of money. For most folks, most folks they're saving most of their money in retirement plans at work, and when they leave work, they roll the money over to hire a so everybody everywhere is very similar, very familiar and happy to help you do this. The question is whether you should So when you move the money to an IRA the reason you'd want to do so, is that the you'll be able to get in the eye race. Something you can't get or something You're not getting at Fidelity, for example. Better investments. What do I mean by better? It might be lower in risk might be lower and cost might be higher and return than what you're getting. Infidelity might be a better diversified than what you have infidelity. Maybe they were investment options that you want to pursue that are not available to you via the Fidelity platform. Perhaps you might want the services of a financial advisor. Maybe you already have those services. Maybe you're working with an advisor. But that advisor isn't able to help you with your current for one K because they're not managing that. But if you roll the money over to them at their firm will now be able to manage the IRA money the way they're managing all the rest of your money and giving you better, broader, more comprehensive advice. And services from the integration of all of your finances By rolling the money over to an IRA you're now able to consolidate. Instead of having a bunch of accounts and a bunch of places you have all the money in one place, and that could be easier with record keeping and paperwork and ultimately tax reporting. So there are advantages to rolling the money over to an IRA. But you have to to confirm that those advantages are better than the advantages of leaving the money where it is and notice how I phrased that, Brian They both have advantages. In other words, you're not making a bad choice here. Don't worry that you might do something wrong. They're both good choices. You simply have to decide which is the better of the goods on I do not Okay, so I would recommend you shop around for financial advisor on our website at ric Edelman dot com. We have a list of the nine questions you should ask when interviewing advisers to help you shop around And in the course of that you simply want to all out 1/10 question for you in your case. Why should I roll my foreman K over to you? What's the benefit of doing so? What can you do for May that I'm not able to do where the money is at the moment. And let's see if they're able to persuade you on. If they are, you'll be making the decision. And if they can't that'll be a good decision, too, okay? Anything else I can tell you. I don't know. That was very helpful. Thank you very much. Well, I'm really glad I was able to be of value to you, Brian. Congratulations on your new job, And I wish you the best in your new career. Thank you. That was Brian and Denver, Colorado in the snowy January here on the Rick Adelman show, Triple eight plan Rick Lin is with us on the air. She's from Fort Myers, Florida. Lynn, Welcome to the program. How are you? Good. How are you doing? Well, thank you so much. How can I help you today? My problem is I got out.
"ric edelman" Discussed on KTOK
"The stock market has performed under both Democratic and Republican leadership in Washington, including Historically what's happened when the Democrats controlled all three chambers in D, C. The House, the Senate and the White House. I'll also share with you my three step investment strategy. You need right now to help you deal with your investment strategy during these crazy times. And speaking of crazy times, A lot of folks are weighing in. I've gotten lots of voicemails, emails and such from folks with a lot of commentary. There's one in particular that I really want to share with you. Whole sent me his recorded voice, which you're welcome to do as well. You record your voice on your smartphone. Send me the file to ask Rick at Ric Edelman. Com. Paul did that with his opinion regarding student loan debt. Subject of conversation here on this show of late Paul's comments were, I thought, very eloquent and considered. It's listening. Rick, This is Paul from Charlotte. I've been thinking about the topic of forgiving student loan debt that you brought up recently on your show. On the one hand, I certainly feel for those individuals. Carry massive debt into their adult years, especially if they got little benefit for that dead. On the other hand, should taxpayers be burdened by a student's financial decisions? Is there some other way to ease the debt without outright wiping out the dead? One idea I had was to make the future payments principle on, Lee said. The interest rate to zero for the life of the loan from now on like what we've been doing during the pandemic. This would greatly reduce the students payments over the life of alone. Another idea is to allow bankruptcy to discharge that debt, like other debts or treated why student debt such a special category of debt in the first place? My fear is that once the government starts down the road and forgiving student loan dead, essentially making college free, there will be an avalanche of students who simply stopped paying on their dead shifting it. To reading on government balance sheets. This will socialize all higher education tuition costs. And as Margaret Thatcher once famously said. The problem with socialism is that you eventually run out of other people's money. My fear is that that is exactly what we were about to experience. That was Paul with his commentary, and I think it's just further evidence that my listeners often come up with terrific ideas, perspectives and potential solutions. And I couldn't agree more Paul that we have to recognize the serious implications. Of every policy decision that is being made and Paul's right on when he recognizes the challenges that we're facing. We've had this week another nearly one million workers filing for unemployment. 22 million jobs were lost last year 10 million of them still out of work. 2020 was the worst year for job losses since 1939 blacks, teenagers, high school dropouts all hit the hardest. Bankrate dot com released a survey this week showing the 39% of American households four out of 10 wouldn't be able to pay a $1000 bill that unexpectedly showed up. They said they'd have to borrow the money, 12% said they would turn to family and friends. So even if you're in good financial shape, or maybe, especially if you're in good financial shape You're gonna be asked to lend money to folks in your social circle. Meanwhile, the pandemic is still raging and a new study just came out of patients from China six months after getting infected, 75% report fatigue, depression diminished lung function. The median age of these folks, 57. So we're not talking about folks terribly old 63% report ongoing exhaustion or muscle weakness. 25% are having trouble sleeping 23%. They're experiencing anxiety or depression. In addition to the health cost of covert 19, there is, of course, a massive economic cost. The Economist magazine says that $10 trillion was lost worldwide in GDP. Over the pandemic so far, and what is projected for the rest of this year on Li, the Great Depression and the two world Wars were worse. On Lee America and China have a GDP more than $10 Trillion.10 trillion dollars is a lot of money. You could buy the 10 biggest public companies in the world. You could buy all the property in New York City nine times over. And in addition to the pandemic, costing the economy massive amounts globally, So did natural disasters. Costs doubled in 2022 $95.
"ric edelman" Discussed on WLS-AM 890
"Cattleman show chat with Josh from the Bay Area. Welcome to the program. Josh, How are you? I'm doing fine. Thank you. Thank you for taking my call. My pleasure. How can I help you? Yes, I am a great question. I'm 57 years old and some significant investment in my rollover IRA, which is about 1.5 million The 100% stock with heavy of course, no diversification that I was gonna wondering. I mean, what do you suggest, if I should take some tax heat and can work some portion Wrote. I are problematic rollover. I haven't And if yes, I mean, how do I decide what kind of personality and things like that? What's your motivation and thinking about moving your ire A to the Roth or some of it? What's your motivation? One more tuition is basically announcing this amount is little bigger, and I don't tell much on Rolled toward her. Left text. Heavy environment account balances that I'm not sure I'm a fan of the idea, Josh. And the reason that I say that is that as you know, when you move the money from your IRA to the Roth IRA, you're going to trigger attacks on the amount of money you move. That's why the future withdrawal is tax free, released Congress. Says that it's going to be tax free. But I don't see the particular advantage. The only reason for doing so, is that you believe that your tax bracket today Is lower than it's going to be in the future. So you'd rather pay the tax today at the lower rate than the tax later at the higher rate, you might be right about that. I don't know. Nobody knows what future tax rates are going to be A and so it's a bit of a gamble. Some advisers have argued Justus, We diversify our investments. You want to diversify your tax strategy as well. So you should have money in both the deductible IRA and a Roth IRA. So that you are diversifying the tax bracket that you're paying on the distributions. I'm not sure I subscribe to that theory because you know if you move half the money from your irate with Roth You're simply guaranteeing that in the future you're half wrong, so I'm not sure I necessarily subscribe to the idea. So it's up to you. I would not be particularly motivated to do it. If we're my account. I wouldn't do it. In fact, I have an IRA A with a bunch of money, and I haven't moved it to a Roth so I'm not sure I would be strongly encouraging you to do it either. No After epi subpoenas, other fight, questioning the sense that a couple of years ago my employer in stores wrote for a lengthy option. Me do things that can be overdone. It started to start contributing. I've been contemplating fully in my Director, but for one case so far What I think about doing it to to rose for one thing. So again, it's the similar conversation. If you believe that your tax bracket today is lower than it will be in the future, that's the answer. In other words, you want to pay the tax. As late as possible. You know, attacks later is better than a tax now and you want to pay a tax at a lower rate. As possible. So along those lines just need to decide what it is that you believe is going to happen in terms of tax rates. It's not as bad I'll tell you this that putting money into a Roth is not as Evil as Converting money to a Roth because put him on the end of the Roth won't force you to pay a huge amount of tax, But it does force you to give up the tax deduction. So again. I'm not if you're in a high tax bracket, and it sounds like you are, I wouldn't be particularly motivated to contribute to a Roth Ira Wright. I don't. Okay. Got it Made me appreciate Theo. The egg lies like I mean, I really appreciate your trying. I'm very fan like, listen. For many years I spent my desire to call I have really appreciate your help. I appreciate that very much. Josh. Thank you so much. I'm grateful for that. Thank you. You do think that was Josh in the Bay Area here on the rig Cattleman Show Triple Eight Plan. Ric Ric Edelman. Com. Thanks for joining me on the program this weekend Reminder. Call us right now. A triple A plan Rick and schedule.
"ric edelman" Discussed on KTOK
"You need to make sure you understand the total costs you will pay when dealing with a financial advisor and the financial planning fee itself. Is only one part of those total costs. You've got the planning fate. The asset management fee, the cost of the investments themselves and so on, Which is why we always encourage folks to ask when you're shopping around for an adviser. Don't ask what your faith instead ask. What is the total costs? I will pay when working with you because if you just asked, what's your fee? Well, they may tell you and what their fee is, is not necessarily the total cost you will encourage. That makes sense. So, yeah, it's important. You understand? Not just the financial planning faith. It's equally important. You understand the total expenses of dealing with an advisor and you won't know if the cost of dealing with that advisor Are good or bad, reasonable or unreasonable until you comparison shop. In other words, if we were to say to you here in our firm that are typical standard financial planning fee is $800. Is that Fi high or low? Until you compare. You won't know that our fee is a third of the national average. So you've got to do some comparison shopping, even if you already have a financial advisor. Doing comparison shopping could help reinforce that. The decision you've already made for your current adviser was a good one or could help open your eyes to saying Golly Gee will occurs. Maybe I can do better. Maybe I could get better results by saying what else is available out there? So just additional food for thought. Let's take a question here on the wreck. Elements show Claire sent me her voicemail. She sent it to ask Rick it ric Edelman dot com. Let's listen in my husband and I are 40 years old. We have five Children ages 5 to 15 up Until this point. We've only been able to contribute $10,000 to a 5 29 college savings plan. Now that I'm no longer stay at home, Mom, I'm bringing in an extra $20,000 per year and we're wondering how and if we should get started saving for college, we have a 41 K and it's currently at.