Hubby has John Hancock for his 401k. I'm guessing the reason that so many financial institutions require sending you a check is because too many people screw up depositing the money into the wrong type of account and don't realize the problem that can cause them. When the check is made payable to a specific financial instituion into an account FBO the owner and into a Rollover IRA, it kind of makes it idiot proof. This would also prevent one spouse to attempt to deposit 401k proceeds into a Rollover IRA owned by a spouse, child or anyone else. The check maintains the integrity of where the money came from and who it is going to. Plus, I'm an old school CPA. Accountants still love that old paper trail.

I inherited a CMA account. My father paid 9.00 per share of a value fund in 2013 He passed on June 5th the fund is worth 41.00 on the 5th date of death, i sold them a month later when the shares went down to 40 Since the fund went down can i claim a loss???

Closure fees???

Thank you for this video.

The market trend can turn around very quickly. In fact, the indexes often switch from a bear market to a bull market when the news is at its worst and the mood of investors is at its lowest point. I read an article of people that grossed profits up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?

good discussion

great discussion

Thank you very much. Greatly helped me understand this concept for my RICP exam.

I have several EE bonds from 1989-1993. The value should be around $1200. My bank website says they cash bonds only for account holders of 5+ years, so I'm hoping they'll be able to.

Does separation of employment include leaving full time employment but then coming back later as 1099/contract help?

Great show. Two thumbs up!! I really enjoy your chats with real people and their retirement planning experiences. Both the financial and the emotional. I wish you would have more of these including people that are willing to share more hard fakes such as actual savings, percent withdraw, budgets, etc. Would case studies of people with the emotional part such as folks that in retirement have trouble spending money. Love the podcast. You do a great job and a great service.

I have a question. I own a footwear company. Many times when people return their shoes for personal reasons (fit, style, etc) it’s hard to resell the pair because most people tend to crease and wrinkle the shoes. It’s too embarrassing to resell, so we make customers new shoes each time. With that being said, we write off returns as losses but now we have thousands of dollars in goods sitting in inventory. They’re beautiful shoes but they cannot be sold as new, but they’ve only been worn once for no more than 5 minutes. So if we donate them, we can write them off as long as they are 50% of AGL. Am I understanding this correctly?

I have a question. I own a footwear company. Many times when people return their shoes for personal reasons (fit, style, etc) it’s hard to resell the pair because most people tend to crease and wrinkle the shoes. It’s too embarrassing to resell, so we make customers new shoes each time. With that being said, we write off returns as losses but now we have thousands of dollars in goods sitting in inventory. They’re beautiful shoes but they cannot be sold as new, but they’ve only been worn once for no more than 5 minutes. So if we donate them, we can write them off as long as they are 50% of AGL. Am I understanding this correctly?

how does it work for someone who bought this as primary house , stayed in this house for 5 years and then moved out to another primary house ? all the expenditure and specifically the depreciation work in same way as capital gain on primary home is supposed to be 0 when you sell it?

Is there a chance for retirement savings for a 33 year old who currently has zero savings?? Any tips for the next 20 years? Please help

Thank you for explaining. Sounds like a tricky way to get my $$$. My investment should NEVER produce less than I invested. Putting it in a CD would at least earn me interest.

Excellent chat! Thanks very much, Laura and Andy!🔥 Laura, Gale Sayers scored six touchdowns in one game; that's a heck of a record. It was great when star players still ran the ball back on kickoffs and punt returns. When I was young, I read a series of books on NFL stars, and Gale Sayers was one of the first.

Andy can you post your excel model on your tools site?

Why is paying a financial advisor a concern? The bigger concern is whether or not the financial advisor is worth the fees?

Great video!!!! So much info in so little time!!!

The pandemic wasn’t the problem it was the inept response

Fortunately I have no debt and a great fed pension, don’t need to touch tsp/Ira

I started thinking about retirement in my mid 20s. I started socking away 20% of my paycheck in a 401K. I had no plan- just got into the habit of saving a lot, knowing I would be glad I did when I got older. Glad I did, retired at 56. I invest exclusively now in T Bills.

October is best.

This is great lol I used to plan out my budget specifics like $5 for a gallon of milk but I don’t even eat dairy anymore lol and I’ll never own a house, or rental properties. Way too much intervention and unknowns in those sectors. I’m amazed tbh that excel is still a thing. I learned it in my extra time in a city/gov accounting 15 years ago but I’ve been a sahm for way too long. This lady would have been me, if id had more backbone and chosen to be opt out of religion and my parents overbearing influence when I first felt it. I loved using FSA when I had it. Im 25 min in trying to figure out the specifics. I know I’d have a humongous snowball just in my last 15 years of that 401K matching. It hurts that I quit to be a mom, and lost all that compound interest, such a waste of time but I think I can turn it around. Starting about at the age she started. But I wanted to start 30 years ago as a kid. Before investing was easy, I was thinking omg how can I save up 10k so I can go into Edward Jones lol I’ll never let my kids be as poor as I was in my 20s my parents worked to actively worked to keep us dumb. They think poverty is a religious thing, it’s awful. My kids will be set for life before they’re 25. Hopefully none of them get married or have kids, our lives will be for the benefit of nature/animal shelters/conservation efforts I’m hoping. I mean I won’t disown them if they decide to make relationships a ridiculous legal mess but it would be close. No reason to ever involve legal paperwork in relationships imo. My focus now is getting divorced. Such a mess. I want my kids to be at the level of living off the dividends of the dividends of their capital 🤣 like never even a question of asking the prices of things. Almost to the level of being able to buy real art, possibly. 💀

Was that a Scranton sales process that shared that ability with you?

How about a house that was a gift to me can I depreciate anything?

Defeats the purpose of saving for retirement, why do videos of financial advisors never explain the reasons for these caps on 401ks ridiculous

I'm liking Andy's new format, it's interesting to see different advisory models from various parts of the country. In this case it seems the majority of Avea's clients are "pension /ss" wealth based with smaller IRA's ~1M. Not sure what's considered "uber wealthy' in WA. Depends on if your defining wealth based on monthly income OR net worth. According to IRS standards, a monthly income of around $45,000 is considered wealthy, while the Economic Policy Institute (EPI) says that to be in the top 1% of earners, you'd need to make around $68,277 per month. According to Schwab's Modern Wealth Survey, Americans say that a net worth of $2.2 million is needed to be considered wealthy. Other sources say that the 95th percentile, with a net worth of $3.2 million, is wealthy, while the top 1% (99th percentile) has a net worth of $16.7 million.

When can we get our free tax report from Avea? It says coming soon

Pragmatic discussion. Thank you very much, Angie and Andy!🎯🙏

Great discussion! Good job both!

Great video, thank you. And do I need to include the new revised 1040 along with the 1040X? Turbotax prints both forms.

So renting out the property until I die would be the way to go to take advantage of depreciation and not have to pay back that depreciation? Because I would never sell

Thanks for the great info Andy

Small world I lived in Walla Walla and Spokane and also a WSU grad.

Thanks Andy! Great video. With the pension, I’m not gonna be able to avoid it, however, it’s not a torpedo. It’s just the way it is thanks for breaking it down.

I want to be the 'next generation' someone in my life wants to leave money to so badly!

Why would I want to put my IRA funds into an employer retirement plan please?

What happens at death of the owner?

Hi, I am filling out a CSU application for college and it is asking me to input my Parents' adjusted gross income (AGI) for 2022 and my Parents' untaxed income and benefits for 2022. I know the AGI can be found on line 11 of the 1040 form on the 2022 Individual Tax Return, but I want to confirm where I can find the amount for the untaxed income and benefits? Is it line 2a where it says “Tax-exempt interest” or is it line 2b where it says “Taxable interest”? Line 2a is blank, but line 2b has an amount. Which one would I put? Thank you.

Thank you! Very clear and concise.

I’m 52 and have a sep Ira. I have my own business, as an optometrist, but also subcontract at another eye care business. Can I convert to an individual 401k now at 52 and take advantage of this 55t in my 55th year? Thanks

Worked 45 years to get my ss need it all that all I have

Thanks. What about company paid life insurance plans?

Is this in addition to capital gains tax on the investment income?

amazing clarity !! thanks

wow you are freaking aamzing such a great explanation thank you so much.

You have the best videos. Very thorough. Thank you!

What Monte Carlo software are you talking about? The only ones I've ever seen planners use does NOT use historical data. It uses randomized performance of your investments - the planner puts in an average rate of return, the SD size, average inflation rate, etc...