Financial Choices Matter

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Who Really Pays Income Taxes?

With the national elections in November, the parties have VERY different opinions regarding who should be paying their fair share of income taxes. But do we really know who pays what? You certainly can’t rely on either political party to give you the straight information. We also dive into a discussion on how to reasonably incorporate emotions into your financial plan.

Show Notes:

1:32 - Who Pays Income Tax?

2:20 - Income Tax Statistics From 2016

5:12 - Top Wage Earners

7:01 - Emotions In Financial Planning

7:29 - Fear And Greed

9:59 - Invest For The Long Term

10:55 - Using Emotions For A Good Cause

12:23 - Taking Clients' Emotions Into Consideration

16:49 - Mailbag Question from Frank: "My 401 (k) got rolled over into American Funds, is this a good thing?"

The SECURE Act Passed - Now What?

After it simmered in Congress for a year, the SECURE Act is now law. If you have a retirement account of any kind, or will one day inherit a retirement account, this will affect you. Matt will hit the main points of this new bill and how it will change retirement planning.

Show Notes:

0:58 - The SECURE Act

1:23 - Death Of The Stretch IRA

2:14 - Small Businesses And Retirement Plans

2:48 - Required Minimum Distribution Change

3:38 - 10 Year Window Eliminated

5:36 - Multiple Beneficiaries

6:41 - Trusts Cannot Be A Contingent Beneficiary For An IRA

8:49 - Life Insurance As An Alternative Solution

14:17 - Mailbag Question from Emily: "Did 401 (k) Contributions Go Up?"

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