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Better Money Decisions

You’ve probably started with great intentions, telling yourself you’ll stash away more for retirement and buy fewer lattes (because some writer said buying lattes is a bad thing). But life happens. It’s not as neat and tidy as the financial experts on TV seem to think. You’ve got a lot going on in your life, and you need more than simplistic, cookie-cutter instructions to keep you on the right financial path. Kate Stalter escorts you to the right path for your money. She talks to experts and "normal" people who have taken the right steps to make better money decisions.
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Now displaying: April, 2017
Apr 18, 2017

Kim Laughton, is President of Schwab Charitable, a non-profit, donor-advised fund provider established with the support of Charles Schwab & Co., Inc. to make charitable giving simpler and more tax-efficient for clients. She is responsible for the general management of Schwab Charitable and the fulfillment of its charitable mission, setting strategy and priorities and ensuring all contractual obligations and goals are met. She’s here today to show us how to link your investment strategy with your tax strategy. Your investments can help reduce your tax bill in certain situations. You can even donate your required minimum IRA distribution. It’s Tax Day, so everyone is thinking about their taxes, but truthfully, thinking about taxes long before Tax Day will help you maximize your tax due.

Listen as Kim and Kate discuss:

  • Charitable giving is a very flexible way to reduce your taxes.
  • How donating appreciable investments can allow you to give 20% more than usual.
  • Only a qualified 501(c)3 can accept these sorts of charitable donations.
  • Donations made for a tax perspective can be made into a Donor Advised fund, and donations can be made later from the fund. It separates the tax decision from the giving decision.
  • What you need to pay attention to in any Individual Tax Reform Legislation
  • Now is the time to start looking at your tax situation longer term than just from one year to the next.
  • An accountant or investment advisor can help you plan your tax strategy.
  • Who is eligible for the $100K Required Minimum Distribution
  • The tax benefits and savings from donating your RMD to charity

 

www.schwabcharitable.org

 

Apr 5, 2017

Today, Kate and her guest talk about Social Security. For the last three years, Kate has been teaching people about Social Security with her seminars. This has been really important when considering that there is an endless supply of Baby Boomers out there, turning sixty two every month, who are interested in finding out more about the Social Security system.

 

When Kate started doing these seminars back in 2013 and she was looking for relevant information, one of the first books she read was Social Security Made Simple. On today's show, Kate talks to Mike Piper, the author of that book. Although Mike is a licensed CPA,  he's no longer in the CPA business, as these days, he is a full time author. Listen in today to find out more about the current Social Security system and how it could affect you.

 

Today, Mike talks to Kate about:

 

 

•How the significant tweaks to the Social Security system, late last year and early this year, have necessitated some re-writing of his book.

•Whether the claims that Social Security is going bankrupt and that it cannot pay out projected benefits is a legitimate cause for concern, or not.

•The kinds of mistakes that people tend to make, that ends up costing them a lot of money.

•That the appropriate time for people to apply for Social Security is not necessarily linked to their age at the time of their retirement .

•Whether there could be times when claiming Social Security benefits early could make some sense.

•Some restricted strategies that are still available to people who were born at certain times.

•An overview of the complicated situations that tend to affect people who work for certain Government entities, like the Windfall Elimination Provision and the GPO and why people really don't like this .

•The best course of action for people who are affected by these complicated situations.

•The Family Benefit Maximum- what it means and where it's applied.

•How people should go about looking into the Family Benefit Maximum if they think that it applies to them.

•Some of the tax issues that people tend to make mistakes about with Social Security.

 

Mike's Blog: ObliviousInvestor.com

 

Taxes Made Simple and all of Mike's other books are available on Amazon.

 

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