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What do you know about the Secure Act and how your money affects your beneficiaries? The Secure Act was assigned by President Trump on December 20, 2019 and sets every community up for retirement enhancement. This episode delves in about some of the good and not so good things that pertain to finances with this act. It affects IRAs, 401ks, all your retirement plans, 529 plans, and education plans. The focus is on how it changed IRAs- the required minimum distribution age for age 70 and a half until age 72 and what it didn’t change- the QCD, the qualified charitable distribution, which remains at age 70 and a half. You will gain a lot of insight that may directly impact your retirement with this information.
On another note, we talk about what happens when you leave money to your beneficiaries and how it will affect them. For example, if you live in an income tax state, only a portion of it is going to actually wind up going to the beneficiary due to taxes. The beneficiary will be taxed according to their income. So, if you have children that have a substantial income and inherit your $500,000 IRA, “they’ve got to take that and pay taxes on it within a ten year period.” There is much more discussed that will open your eyes about leaving money to others.
For 30 years Angela Sloan, CEO and founder of Sloan Financial Group, has dedicated herself to helping her clients secure their financial affairs. Unfortunately at a young age, she was swindled out of her life savings by her “trusted” advisor. This misfortune motivated Angela to make it her life’s work to keep bad things from happening to good people. Angela’s sound, responsible financial advice and tax-saving strategies have helped her clients grow and protect their retirement nest eggs, even throughout these turbulent financial times. While she specializes in income tax planning and managed money, conservative investments, she has expanded her practice to include estate planning, long-term care insurance, Medicare supplements, life insurance and property and casualty insurance. Devoted to helping families comfortably organize their financial futures, Angela’s list of accomplishments include earning the Pioneer Service Excellence Award, the AMS Inventor of the Year Award, winning the Richard M. Metcalfe Memorial Award as well as sitting on the York Technical College Entrepreneur Panel and guest speaker appearances for Clemson University’s Professional Development for Women Conferences held throughout the United States.
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Where do our views about the world we live in come from? Are we aware of where, how, when, or why we learned a particular point of view about something or someone? To bring about change whereby people can overcome barriers and biases that have been carried on generationally, we all need to take a look at how we came to know the views we currently hold. One such person set out to prove just how different things can be by doing so.
This episode brings guest, Kevin Douglas Wright, who is an American author, screenwriter, film director, film producer, cinematographer, and film editor of “I Learned It From You,” a documentary available on Amazon Prime Video, which is described, “Sometimes what someone teaches can have deadly consequences. Are you in danger? Six randomly selected people are interviewed. Their real-life stories consistently reveal someone teaching something that has been responsible for destroying people, cities, states, and countries, in front of our eyes, for hundreds of years. [ Officially Selected by three film festivals and now a Best-Selling book. ]
Do you want to see change? Take some time to watch this episode and Kevin’s documentary. You will find there are some things that will really hit home and make a difference!
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What do your words have to do with it? Well, a whole lot! Words are an expression of everything we think, feel, see, and more! They describe all of our senses and yet when they are woven within the very notes of the palette of instruments laid out before us, there is even more that can be said, felt, and heard. The guest in this episode is a master at not only being able to convey through her own music and lyrics an incredible amount of expression, but she is able to inspire others through her extraordinary wisdom and talent through the gift of teaching in her STORYTELLERS WORKSHOP NYC.
Guest, Songstress and Producer, Monday Michiru, was born in Tokyo, Japan and raised in coastal U.S. as the daughter of NEA Jazz Master and Japanese National Living Treasure Toshiko Akiyoshi, cult jazz saxophonist Charlie Mariano as well as jazz saxophonist-flutist Lew Tabackin, Monday Michiru, so named to reflect both her Japanese and American-Italian heritages, started music classically on flute studying at the prestigious Interlochen Arts Academy in the U.S. on scholarship, gravitating later to singing, composition and production. In 1987 she debuted in the lead role as an opera singer in the Japanese movie “Hikaru Onna” which garnered her Best New Actress award by the Japan Film Academy. Her subsequent move back to Japan furthered her career in acting, as well as hosting her own radio programs, modeling, performing in fashion corporate events, and as a journalist with steady columns. Since her music debut release in 1991, Monday has released albums on an annual basis both as a soloist and collaborator and is known as one of the pioneers of the Japanese acid jazz movement. While her discography boasts countless dance floor hits worldwide, Monday’s compositional style and repertoire has evolved to that which is undeniably hers with reflections of jazz, soul, Brazilian, folk, and other urban and world flavors. Monday currently resides in New York, continues to record and perform worldwide, and heads the lyric writing seminars STORYTELLERS WORKSHOP NYC.
What are your OPTIONS? Financial options, that is! Today’s guest explains what options are and gives a great picture of how they can be a great asset for you. “ A lot of people like to confuse options with just regular stocks or equities and how they move, but basically it’s very simple. You have the stock market and then you have derivatives. Derivatives are basically options and what that means is this. It is another way to invest in the stock market, but use leverage to your favor. They’re basically contracts that are tied to the stock market, that basically expire at a certain date forward in time.” He goes into detail using an example about “Tesla,” but here is another simple example he uses, “I can buy those at a small price and sell those at a larger price basically, what Walmart does in the wintertime. They buy millions of hotdogs to sell you during the summer of the next year right so that’s the basic idea behind options and on a psychological kind of on a larger I would say more adult scale. It’s another way to be able to invest your money and be the captain of your own ship, which is important not only to the baby boomer generation that’s retiring now but also the millennial generation that is actually drowning in debt.”
Guest, Options Strategist at Simpler Trading, Jack Roberts, comes from small-town West, Texas. He has a relatability factor and characteristic that’s made many members feel right at home with his easy-going mentality and thirst for knowledge. He started his path as a full-time trader with his grandfather as his mentor, and later on, John Carter. Jack took it upon himself to pursue trading from a self-teaching perspective. In the first four years, he spent trading only stocks and then moved into options once he saw some additional profit. His ‘aha’ moments came when he got a jump start on Elon Musk’s pipe dream and bought options of TSLA, which have since skyrocketed. Jack was one of the first to get in on both AMD and TASR (which is now known as Axon). That’s when he realized he has a knack for seeing things before most and has used that to build his trading career into what it is today.