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Here’s how to pay 0% tax on capital gains

BIT, AND THEN TWO OTHERS, JOHNSON & JOHNSON, UNCHANGED >> WE ARE STILL GOING THROUGH THE LATEST CHANGES TO THE TAX CODE DUE TO THE INFLATION ADJUSTMENTS. WE LOOKED AT HOW THE CHANGES AFFECTED THE TAX CODE. SHARON EPPERSON IS HERE TO SMELL OUT WHAT THEY MAY MEAN. >> WE'RE LOOKING AT MIDDLE CLASS INVESTORS AND MORE OF THEM COULD APPLY FOR A 0% TAX RATE ON CAPITAL GAINS. MOST INVESTORS FOCUS ON THE 15 OR 20% CAPITAL GAINS TAX RATE, BUT THERE'S THE 0% RATE TOO. AND THAT COULD IMPACT MORE MIDDLE-CLASS AMERICANS IN THE YEAR AHEAD RATES ARE BASED ON YOUR TAXABLE INCOME AND INCOME THRESHOLDS TO QUALIFY FOR THE TAX RATE ARE GOING UP NEXT YEAR IN 2023, YOU COULD QUALIFY FOR THAT 0% RATE WITH TAXABLE INCOME UP TO $44,625 FOR SINGLE FILERS.

THAT'S A NEARLY $3,000 INCREASE FROM THIS YEAR AND THE INCOME LIMIT FOR MARRIED COUPLES FILING JOINTLY WILL GO UP TO $89,250. YOUR TAXABLE INCOME IS CALCULATED BY SUBTRACTING YOUR ITEMIZED OR STANDARD DEDUCTION, WHICHEVER IS GREATER, FROM YOUR ADJUSTABLE GROSS INCOME. MOST AMERICANS TAKE THE STANDARD DEDUCTION AND THE IRS IS INCREASING THOSE AMOUNTS FOR NEXT YEAR. IT WILL BE 13,850 DOLLARS FOR SINGLE FILERS, THAT'S UP $900 FROM THIS YEAR AND $27,700 FOR MARRIED COUPLES FILING JOINTLY THAT'S $1,800 INCREASE FROM 2022 ONCE DEDUCTIONS ARE TAKEN INTO ACCOUNT, A COUPLE MAKING SIX FIGURES COULD BE IN THE 0% TAX BRACKET AND PAY NO TAX ON PROFITS FROM THEIR INVESTMENTS AND IT COULD ALSO BE A.

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401K to Gold IRA Rollover

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ZERO Crypto Taxes in 2 Weeks (Secret Country)

if you want to pay 0% crypto tax legally and you don't want to go to Dubai or to any other taxfree specifically for crypto country you don't want to stay in Europe you want to find somewhere off the beaten path that is also fast it's not a place you need to live 6 months a year and you can do all of this legally it's not Malta it's not Cypress it's a beautiful island country of Barbados Barbados has a specific provision in the tax law that allows a foreigner who has a valid residency permit and a valid tax number to become a tax resident of Barbados without living 183 days per year in Barbados because it's hard for most people if you like Island life if you like slow living if you specifically love Barbados maybe that's easy for you but for most people for Canadians for British citizens for Europeans for other Latinos who want a tax residency somewhere where they can cash of their crypto taxfree Barbados offers just that they have a specific process you need to follow step one is to create a company in Barbados that company cannot be crypto related it can be marketing company it can be a consultancy it can be an IT firm whatever you want it to be you incorporate that company and then you get a job under that company as the Director so you get a work permit as a director of your own company essentially what we do in Dubai the same process this can all be done remotely from anywhere in the world you don't have to go to Barbados for this specifically you do have to go to Barbados to get the residency permit you have your residency as the owner and director of that company essentially you have employment under your Barbadian company then you get a residency from that employment same thing with do in Dubai same process with the free zone company and getting AA that we and then once you have your residency permit then you can apply for a tax number this has to be done in Barbados it takes from 2 weeks all the way to a month you have to spend that time in Barbados you can take a month vacation explore all the island enjoy the beautiful weather Barbados is an island that is absolutely beautiful and it's also slightly outside of the hurricane belt in case there is a massive hurricane people are very welcoming it's relatively developed and you're not going to suffer for that month while there once you get that tax number now there are no physical presence requirements for you to stay a tax resident of Barbados Barbados has no crypto gains tax no wealth tax no inheritance tax and a very low corporate tax rate of 9% the company that you opened in Barbados now has the same tax rate as other great jurisdictions like Hungary 9% UAE 9% but it's much closer to home if you're from the US from Canada somewh Latin America also from the UK straight flights to Barbados and it's also a jurisdiction that is not going to be looked upon with a prud this people are not going to think oh he has a company in Barbados he's definitely evading taxes no he has some interest in Barbados maybe he likes Barbados is not thought of as an island that people hide money in and it's not also a citizenship by investment island people don't think about it that way because there is no CBI program there is nothing special in terms of immigration about Barbados this is why this is the Hidden Gem program no crypto gains tax if you're making millions hundreds of millions of dollars in crypto gains and you're from Canada get out of Canada get your residency in Barbados and then the caveat here is that you can't go spend the rest of the year in your other country you can't just get tax residency in Barbados and then go live in Canada again obviously Canada is going to continue to tax you so you have to find another call you could spend time in Mexico in other parts of Latin America you can go spend some time in Europe Nomad around different countries and then have your main tax residency still in Barbados if you want to actually cash out your crypto let's say you made a million dollar from Bitcoin gains and then you want to cash that out you have your tax residency in Barbados you can cash out to local Barbadian Banks you can cash out to other C Ian jurisdictions like Bahamas like Cayman Islands or you can open online accounts like wise and revolute although you have to be very careful because wise and revolute do close down accounts if you send a lot of money from crypto exchanges and you specifically say this is from crypto gains they most likely will freeze your account restrict it in some way or just outright ban you from the platform so you have to be very careful how you cash out cash out in small amounts don't cash out too many times in a day or in a week but you can do this you can cash out millions of dollarss either directly in Barbados by having a Barbados tax number tax residency you're not paying tax anywhere as long as you're not spending 6 months there and you're very careful about how long you spent in your home country this is the program that nobody talks about this is the program that is possible for anyone around the world wants a quick tax residency that is legal and wants to pay zero taxes a little bit of hassle you do have to spend time in Barbados but it's simpler than any other program I've seen now some negatives about barbos that you might not like because not all fun and roses and happiness Barbados is very hot and humid so if you come from a mild climate or you don't like that extreme humidity that extreme heat from the Caribbean then spending a month in Barbados can be held literally so you do have to take that in mind Barbados is also an island so it can be very backwards sing it can be very slow I come from Puerto Rico and things are way slower than on the US Mainland so going from Canada from the UK from anywhere to Barbados it can be a lot slower obtaining your tax residency number they can say it's 2 weeks but in reality it takes a month things take longer things are done slower things are done in Island time if you're going to meet a lawyer in Barbados that will probably be longer time frame of waiting for that lawyer of waiting for documents to be process overall you have to get used to that slower pace of life and Barbados is also quite small so you might get really bored during your month there while you're waiting for your tax number while you're waiting for your residency perment you might think oh my God there's nothing to do oh there are a lot of natural things there there's a lot of beaches obviously there's beautiful mountains beautiful jungle that you can explore but it might get really boring really fast if you want to pay less taxes on your crypto gains make sure to click the link in the description and join our private Community we talk about best countries for crypto best countries for taxes in general people tell their stories about living in specific countries around the world in Hidden programs like this one make sure to join it to get all of the private information private contacts private networking it's going to be extremely valuable and if you want to see other countries around the world that will benefit you for your crypto gains the top countries around the world for crypto investors crypto Traders crypto companies check them out right here the top countries for crypto I made a huge list on all the countries that I recommend for you to pay less crypto taxes have more crypto Freedom have easier ways to cash out check them out right here

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Retire Wealthy Home

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4 Facts About Gold IRA Storage

A Gold IRA combines your IRA plan with the benefits of owning physical gold, but to avoid trouble with the IRS and maximize your portfolio potential you'll need to know how to store the gold in your IRA. You can't add gold that you already own into a Self-Directed IRA. Instead, you must buy through a custodian who buys the gold on your behalf and arranges delivery to a facility that specializes in protecting precious metals. The gold is held by a financial institution, such as a bank, or by an IRS approved non-bank facility, such as a depository. The IRS doesn't want anyone storing gold from a Self Directed IRA at their home or in their own safe deposit box.

If you try to store your IRA gold at home, the IRS will likely view that as an IRA distribution that's subject to taxation and could result in a 10 percent penalty for early withdrawal. Furthermore, storing IRA assets in your own home might be considered “self-dealing,” and could be treated by the IRS as a prohibited transaction. If you want to keep physical gold at home, you can still do so as long the gold isn't part of an IRA. Some precious metals dealers have promoted “home storage” of physical gold in an LLC created and managed by the IRA owner in order to skirt the IRS's ban on holding IRA gold at home. This ‘home storage' concept may conflict with the laws that allow for tax-advantaged IRA investments. To purchase and hold assets in an IRA on a pretax basis the IRA assets must be held by a financial institution or an IRS-qualified custodian. At U.S. Money Reserve, we work with you to assist you in the process of opening a Self Directed IRA.

Once funded, we contact you to order the gold or silver you want to include in your IRA. We then arrange insured and discreet delivery to an IRS-approved depository which will make sure it's safe and the gold's insured while it's there. The experienced IRA Account Executives at U.S. Money Reserve can answer any questions you might have about setting up your Self-Directed IRA. Get started with a free IRA consultation today. Click the link in the description to download your free gold information kit which will provide you with important information you should know about diversifying your portfolio with precious metals.

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What is a precious metals IRA

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ODU men’s basketball coach Jeff Jones announces retirement: full press conference

Um gosh, you know, II, I thought I mentally prepared myself uh to, to at least try to keep my, uh emotions under control and then walking into this, uh I'm not sure it's going to work, but, uh I appreciate so many folks coming out. It's, it's great to see uh uh friends, um bunch of my uh, former and current players, uh the, the staff and family. Um, you know, I wasn't, uh, wasn't really sure I didn't spend a whole whole lot of time, you know, thinking about this. Uh, obviously II, I knew that at some point, uh, you know, it, it, it, it would happen. Um, uh, I guess, you know, De December 20th kind of changed stuff and it gave me an opportunity to, you know, think, um about how grateful I am. Um And what, you know, what really matters and, and, and I've been so fortunate, uh, 41 years and that's, that's a long time.

But the number, sorry, the number of people that I've had the, the, the, the pleasure, the privilege of being associated with over all of those years, um is, is just amazing. Um, you know, all of the, the, the friends, uh, you know, the, the, the administrators, the coaches, the players and, and on and on. I feel like I'm a, uh, a, a really, a really, uh, lucky person. Uh, I've, I've been extremely blessed, um, and it's, it's something that II, I don't, and I haven't, uh, taken for granted the older I got, hopefully the smarter I got, uh, I still liked winning. I still hated losing.

But more than anything, the, the relationships, the friendships of the being, the being part of a team is something that is really, really special and it's something that, you know, you don't have to be in sports. It's something that, you know, I wish for, for my own Children, my, my grandkids and really for everybody, you know, that you're able to experience that joy to be part of something bigger than you. And in, in, in that way also, I've, I've been very, very, you know, very, very lucky. Um, there's, there's so many people, uh, that I, I wanna thank and, and I'll get around to it eventually.

I'm gonna have a lot of time on my hands. Um, but, but two in, in particular, uh, you know, today that I want to single out uh our uh President Hemphill and uh my friend and Boss Wood Selig, um II, I can't imagine having better bosses uh than, than those two guys, um uh supportive, understanding, uh you know, willing to, to to listen, to serve as a sounding board. Uh, you know, there's, there's plenty of times I've, I've been with wood and I know it's hard for some of you that work with him to, to, to, to understand or to, to, to think about. But, you know, where he doesn't say anything, he just kind of sits there and, and, and listens, uh, and, um, you know, even as, as, as, as far as the way everything has gone down today, um, uh, thank you all, both very, very much.

I, I appreciate everything that you've done for me, everything that you continue to do for, for old Dominion and, and all of this. Um, you know, there's, there's another group in here that, uh, kind of is, is, has been dealt in, in unusual and, and not ideal hand and that's the, the, the coaching staff. Um, I'm, I'm, and I've, I've, I've told them, um, trying, trying not to make eye contact with them.

Um, you know, the, the, it hadn't been easy, it hadn't been easy for the players, hadn't been easy for, for the staff. Um, and I know that, that these guys have done a great job. Um, you know, in, in athletics, you, it's a competition so you keep score, you know, and the score hasn't always been on our side. But I, I do think there's, there's, uh, alternative ways of, of looking at things and if you look at how they've poured themselves into this team, this university since I had to step away. Um II, I think the job that they have done, uh is, is remarkable. So, II, I do wanna thank Kieran and, and Chrisco and Chris Taliani, Drew Lakey Jordan Brooks, Jamal's back there. Uh You know, thank you all so much for, uh, you know, doing what you've done in a very, very difficult situation. Um, as, as far as the retirement, uh, you know, I think it's just very, very simple.

It's, it's, it's time. Um, you know, when I've, when I've thought about it, um, there's, there's still a part of me and it is not an insignificant part that wants to coach. There's nothing more that I would like to do then to come back another year and, and, uh, kind of fix things to, to, to, to go out on a, on a, you know, on, on a, on a different note, so to speak. Um, but there's the, the, the other side, you know, from a health perspective, I'm doing great. I'm not retiring because my health is bad. Um, my health is good. Uh, I've, I've been a good patient.

Um, I followed Dna's orders. Um, you know, I'm shoot, I'm, I'm eating healthier than I have maybe in my entire life. Um, I should, you know, take, uh, take stock in the, a salad company or, or something. But, um, you know, I'm, I'm, I'm, I'm walking a lot I'm getting out, I'm doing hopefully all, all the right things and I feel great, but I think a big part of the feeling great, um, is, is also not, not having that stress that I've had for 41 years as a coach, 32 as, as a head coach.

And believe me, it's, it's, it's different, not, not being in that, that pressure cooker and, and, and so while I, I thought, well, you know, I'm feeling great, you know, maybe maybe one more year, um, the, the more I thought about it, you know, there's, there's a lot of things to look forward to. Um, and II, I did want to, you know, prioritize my, my family, my health, um, and, uh, and happiness I think being happy is, is really, really, really underrated. Um, so I, you know, I came to the conclusion and, you know, I, I know for, uh, you know, for, for the team, maybe this isn't the, the ideal, uh, the ideal timing but, you know, really two things kind of factored in one, you know, I, I just felt like it'd be dishonest or disingenuous, um, to know that I, I was gonna step away and, you know, to, to not go ahead and do it.

Um, you know, people in this community have been so, uh, just so kind, um, with their well wishes and their, their, their care. Uh, and, and, you know, if I, I, if, if I knew I, I wasn't coming back. I, I don't know. I, that would just been tough. And, and then the other thing is, uh, you know, these, these two guys have, uh, have a, a job of, of finding the, the next person if, you know, if, if, by doing it today, you know, they, they can get, I don't know, jumpstart but, and find that right guy and I want them to find that right guy. Uh, there's, there's no doubt that, uh, you know, uh, and, and I'm saying them, you know, it's, it's, it's we and, and, uh, you know, I wanna make sure that, uh, you know, that we're all doing everything we can for the next person.

Uh, you know, I followed a AAA great coach with, with, with Blaine and then, uh, you know, I'm, I'm, I'm excited about whoever that next person is and I want them and, and old Dominion to, to, to, to do great and I know that's what will happen. Um I'm just, you know, I'm, uh, I'm, I'm overwhelmed by all, all of this and, you know, my phone's been ringing off the hook or, you know, the, the, the texts and everything and, um, that, that is, uh tremendously gratifying to hear from people 2030 40 years ago, people that I just met this year.

Um, it's, uh, you know, it's really, really, really special. Uh I'm, I'm so appreciative of everything that, that, that's gone. On, uh, and, uh, you know, I've, I've got nothing but, but, but fond memories, it, it is tough as you can tell. It's, it's emotional but it's, it's, it's, it's, it's the right thing. It's the right time and I feel, feel very good about my decision.

Um, move on to questions. Totally. Your decision. Well, she factored in a little bit. Yeah, it was, you know, it was something that, you know, and I, the way I approach things, you know, I, I don't look too far ahead. So after December 20th, you know, I had a little bit of time and then I, I thought about it and, ok, I decided I was gonna step away. Um, I didn't think at that time I wasn't thinking too far in the future.

I was thinking kind of right now. Um, and, and then, you know, after a, a few weeks of, you know, doing, doing that, that, that's about the time when I started thinking about it and, you know, kind of arguing with my myself, you know, the left shoulder, right shoulder and, and going back and forth and then I, before I was 100% but definitely knew which way I was leaning. I, I thought I talked to wood and, and, you know, and told him and, you know, we had had discussions and ultimately just kinda, you know, I, it kind of was a family decision but I, you know, in, in my own mind.

It was, it was time. I, I think I knew what the family wanted. Uh, but I had to be on, on board with, with that Jeff. You're, you've been emotional here in this setting. What was it like telling the team? When did you do it? Where did you do it? Um, we, we, we met with the team, uh, this morning at, at, at nine o'clock. Um, uh, it was in between one of our guys had an eight o'clock class. So we, you know, we couldn't do it any, any earlier. Um, and, uh, you know, it wasn't unemotional but it, you know, I, I came into it, um, uh, what was really hard was when I had to tell him that I wasn't gonna finish the season.

That was, I, you know, I felt like I, I know I wasn't, but I felt like I was abandoning them and, and, you know, it's always been about the team and, and, and I had to, at that time I had to think about myself and that was really, really hard and, and very emotional. I, uh, at times had a hard time, you know, getting, getting words out. Um, you know, so there was certainly some emotion today but it wasn't anywhere near that. Um, and, uh, you know, uh, met with the staff last night and, you know, be, besides just saying, you know, I'm, I'm, I'm gonna retire. Uh, you know, I wanted to let the players know that I care about them. I love them. Uh just because I retired doesn't mean that, you know, I'm not interested in their, their lives and in their development anymore, uh with, with the staff, you know, I wanted to make sure that they knew that, uh, you know, how appreciative I, I was. Um and so there's some, some emotion in that, but I think, um I'm just good with the decision and so there's, there, there is emotion.

I don't, I don't know how much sadness there, there is. Have you not, I mean, not, not really, um, you know, I think there, there probably we, we will have some discussions but it's nothing that, um, I have no idea right now, kind of what, what path, uh, I, I wanna go down. Um, I, I, you know, I know, I, I'm not really interested in a, you know, high pressure job not looking for stepping from one to, to another. Um, if, if anything I wanna do something that can impact people in a, in a positive way. Um, I've, I've really, really, really enjoyed my time with Samaritan's feet and, and the coaches versus cancer and, and troops first. Um, you know, is, is there some kind of role in something like that? Uh, I, I don't know, but that, that'll be the next step. I haven't, you know, looked, you know, too, too far. Um, you know, I know that there's, uh, a, a AAA trip to, uh, Northern Kentucky, uh, to, to visit my, my mom that's in the immediate future.

Uh, there's some trips down to Charlottesville, um, to, uh, hang out and not make it an up and up and back, uh, trip to, to see Megan and, and Madison and, and the grandkids. Um, you know, but beyond that, I don't have a whole lot of plans. Coach. You, you, you, you mentioned professionally, you don't know, you just talked about some personal plans there.

But are there any other things that, that you're looking forward to personally, maybe making up for some lost time when you were involved in coaching that you're gonna make some time to do? Um, I, I don't really have a, a bucket list of anything that, that's the problem and, and I, I've realized this, you know, I'm, I'm s so boring. I mean, I, I've got, I've got no hobbies, right. Unless you can call reading a hobby. I mean, you know, II, I love to read but you can only read and walk with so many hours in the day. So I wanna have to f figure out something, but I don't really have any hobbies, a, a bucket list, so to speak. So there's nothing that, that comes to mind immediately. Um, you know, Scott, I would say, you know, get up and, and see more nationals games this year because I'll have an opportunity. But you know, they, they, uh, it's almost like they're not even trying, you know.

Um, but II, I do love, I, you know, I do, I do love getting to, to the ballpark. Um, so, you know, things like that, but there's, there's nothing that I can think of right now. Not, not that one thing, coach 41 years and you have players of current and past in here simply put, it's been a long journey. What does basketball mean to you? You know, I was, I was thinking this this morning and, uh, you know, I wasn't gonna say what came to mind because Jason Wade would think it was just another corny joke. But, um, you know, back when I was much younger, I remember there was a skit, uh, in Saturday night, um, when the, the guy said, uh, baseball has been very, very good to me and, and, and it has basketball has been, has been awesome to me.

Um, you know, I've already kind of touched on the, the relationships, the friendships but the opportunities, um, you know, the, the opportunities to travel, uh, you know, um I don't think I have any desire to go back to Hawaii, but this, this last trip that was, that was my eighth trip and, and, and they all were connected one way or another with, with, with basketball. Uh, you know, I've been to the Caribbean, I've been to a bunch of, uh, countries in, in, in Europe and, uh, you know, the Middle East and, uh, you know, basketball has allowed me to, to live a life that, you know, this young, young kid in Owensboro, Kentucky, you know, II, I can guarantee, I, I wasn't, I wasn't thinking in, in those terms. So, uh, you know, um, without getting too much and, and Karen will laugh but there was a movie, the, the river back a while ago and, and I've, I've likened basketball is, is being my river and, and that's where our lives, not just mine, but our families have, have kind of revolved around this game.

And it's been really, really uh wonderful to, to me and, and my family Saturday night was, you know, emotional for you. Did that provide any closure and, and conviction that, you know, this was the right decision. Uh No, I, I, you know, it was, it was very emotional obviously to, to say goodbye. I, in, in, in a sense to, to Ty and, and Jason and especially Jason. Um it's been well documented, everything that he's gone through.

And I can't, I can't remember one time. I can remember times when he was down, I can't remember one time when he complained, takes a special, special person, a tough, a tough person to go through what he's gone through and to come out the other end, you know, and it, it, it, it's continued to, it's continued to amaze me, right? Because just a couple of years ago, just the fact that he was back out there, right.

I'm thinking, ok, this is a win and he keeps pushing and then it's another step and another step. Um, so to see where, where he is, you know, and, and, and, and not to, not to push or to put pressure on him. But, you know, I, I've got my fingers crossed and he is thinking in terms of coaching as a profession. Um Man, what an example, you know, uh you talk about impacting and, and being able to help people uh help young men. Um You know, so iii I, it was like I had to be there. I mean, I wanted to be there. I asked KD if you know, I didn't want to be a distraction.

I asked him if it was OK. I, I talked to wood after that and they both gave me the thumbs up and so I was planning on being there, the, the thing that sealed it was um Friday during the day. Uh Jay, Jay Jay called me up and asked me if I was going to be there. I, so you're damn right. So it was, it, it was AAA special night. Now, I think the the emotion took on even even more for me knowing that today was happening too.

Um uh When, when Denne and I walked down the, the the back hallway, you know, players were out on the court, you know, warming up and Katie was in the, in, in the locker room and it was just the two of us and man, it just hit me. I wasn't expecting it. So, you know, uh the that added too, I, I think um but I, I don't think it gave me any more closure or, or, or anything like like that, Jeff, you mentioned earlier, your gratitude for your staff.

How helpful was it that so many of those guys have been around you for so long guys? Like it's not like these are guys who just arrived into your life. Yeah. Um II I think it was very, very helpful. It, number one, um you know, obviously I, I wanted to be there and, and all that, but I trusted them, right? I knew that not only did they have my back, they had one another's back. Um It's a group regardless that, you know, I, I never had to worry about guys being in the office or putting in the, in the time or any, any of that. Um So, you know, the fact, I mean, KD and I have been together for as long as, as we have obviously, you know, Jamal uh going back to when he was um I'm gonna call you precocious uh freshman out of Jamaica Queens.

Um And, and knowing one another since then and you know, Chris go gosh, 1111 years, you know, 11 years and Drew's been around you know, uh, Chris Tahani and Jordan are kind of the, the, the, the, the, the newcomers. Um, but, you know, they've, they've been part of it for a couple of years. So, um, I, I wasn't worried, I, I knew that we were in good hands in terms of, you know, coaching the team and, and, and, you know, at least trying to do the things that, that needed to be done. You have to go back to your relationship with Jason.

He told us after you guys had the conversation about not finishing the season that he told you I got your back after everything he had been through, you had his back. Does that validate why you do this beyond what you do on the court, the relationship that you cultivated with players like Jason. Absolutely. Absolutely. And, and, and Jay obviously is AAA great example, but, you know, in the back of the room, um you know, Cornell Parker, uh one of Norfolk's finest that uh played for me at, at, at U VA in, in, in Junior Borough. Um uh you know, I mean, II, I love those guys. Um And uh I truly, truly, you know, value their, uh our, our relationship. Um You know, I'm happy Chan Chauncey's here, you know, Chauncey's the youngster in, in the bunch.

Um And, you know, Chauncey's only been here, you know, I guess about 22 years. But, um, you know, I've got so much respect for for him as well. And I, I think those, those connections, as, as I said earlier, the older I got, um, the more I realize that's what I look, you know, you got, you gotta win, right. You gotta win, you know, and you can have all the relationships with you want and if you're, you're losing, you know, the, the A DS, it's, it's a business but within, within the, the business, you know, that's, that's, that's really something really, really special and I forgot Drew Drew Lakey is not just on the staff. He's also a former player too. So, co congratulations on a, on a great career. Can you talk a little bit about that realization as you grew through your career? I'm wondering what are some other big differences between the man and the coach that was first starting out in this business and the man and the coach sitting here now? Ok. Um And it would be really, really hard I think for Jason and chauncey uh to uh absorb or believe this, but Junior Borough would tell you that, that I've really mellowed.

Um And now he, he comes, he, he comes by that pretty uh uh honestly because he, he was the one if there ever was one guy because I it didn't matter. He didn't listen to me if I cursed, he didn't listen to me. I yell, he didn't listen to me no matter what. So, you know, it, it, it didn't have any, any bearing on, on, on him at all. Um, sorry, I went off on a tangent. What's the question again? That was one of them. But the other big differences between the person first starting out. Oh, well, you know, I, I think it's really funny. Uh, I do remember, uh, and I was 2930. I just turned 30 years old when my, my first year as head coach at, at Virginia.

And, you know, I was determined to, you know, to be calm, cool and, and collective and certainly for that first year, iii I think I was, um, to the point where there was in the Richmond Times Dispatch, there was a AAA caricature done of, you know, it is a cartoon, um, you know, Jeff Jones in a hurricane. Jeff Jones in a close game, Jeff Jones in, you know, all kinds of different situations and the facial expression was all the same. Um, that was very much put on. Um, and I, I remember after that, that season, some of it, it wasn't any, any of my players, but some of my former teammates kind of said, what, what, what, what's that all about? You need to be yourself. Um, and so that's when, you know, I decided, I, I guess not decided, but I became the raging lunatic that, that, um, and, and so I think, you know, that, that changed and, and with young coaches and, and I've, you know, talked with, with our staff and, and others that, you know, are, are able to go on as, as coaches. You've, you've got to find your voice.

Um, what, whatever that, that may be, everybody doesn't coach the, the same, uh, you, you can't try to be something that you're not. Um, and, uh, you know, 11 thing that I've always tried to be, we talked about this is authentic. Uh, you know, I'm, I'm not putting on some, from some facade. Uh, it's kind of what you see is what you get. And, um, you know, for, for me as a young coach, I was, even though it was at the AC C level, you know, I, I need to define, you know, what, what that was. I do think. I mean, you know, gosh, I, I sure hope I'm, I know I'm a better coach now than I was when I was 30 years old.

Um, I, I hope I'm smarter. Uh, II, I always kinda chuckle when, when, you know, people ask, you know, would you do anything over and they say, you know, I wouldn't do anything. It helped me. Gosh, there's so many things, I mean, you know, if we had another two hours, I could probably list, you know, all, all the, the mistakes or things I'd like to do, you know, but you, you learn from mistakes, you learn from adversity. Um, and those are all lessons that we try to teach the, the, the, the team.

Um, but it, it, it's also a lesson I, I think for, for me, for, for coaches in, in general is, you know, we don't have all the answers and sometimes we, we screw up and when we do, you just wanna, you wanna be better, you know, own up to them and, and be better as a coach's song as a former president of the National Coaches Association. maybe this is a common, but after 41 years, business, how would you assess where college basketball is? Are you optimistic pessimistic, um, without getting into specifics? Because I think that would be for another day.

I'm really scared. Um IIII I don't know what, what, what's the goal, what are we trying to do? Um, you know, at, at a time, um, where, you know, just, just, I mean, money, it's all about money and, and, you know, it's easy, you talk about the nil or whatever we, you know, we want to point out the players, well, you know, uh conference realignment, uh, it's, it's a money grab. It is what it is and I don't know how we criticize the student athletes when we're doing stuff. That's, that's the, the same thing. And, you know, can we ever get to a point again where the greater good, uh, where, what is right is valued more than what brings in more cash.

Um, uh, the, the, the, the other thing and you know, I'm, I'm getting up on a soapbox but you're in locker rooms, you talk to coaches and, and athletes and when was the last time we heard anybody really talk about education? You know, we, we, we do kind of peripherally talk about graduation. We talk about getting the diploma. Well, I don't know about you, James Madison. Right. You know, at, at U VA, there was so much more that went into my college education than simply getting a damn piece of paper. Um, and if, if, if, if we're gonna set the bar that low and say, you know, what does a degree mean? If you're not, you know, if, if, if education isn't really, really important. Um, and, uh, you know, I, I think we as a society, I mean, I don't think it's athletic departments, you know, as a society, we, we, we don't value education the way that, that we should, you know, and I'm not pointing the finger at one person or one group.

I'm just saying, I, I think it's a shame, you know, there, there, there is a value to that. Um, and so I, I think of those, those two things when I, I say it's, it's, it's, it's scary. Um, oh, I'm, I'm afraid of, of where it is that we're going. I have no idea what, what direction we're going but it just seems like it's just more and more and more and more about money and less and less and less about education. Would you like to be a voice help? II, I don't, I don't know that, you know, there's a difference between being a voice and then actually, you know, I, it's, it's a fight. I, I don't know that I'm ready for, for a fight, you know. Um, uh, and because it's got to come down to more than words, you know, I mean, there, there has to be things, uh actions taken, you know, actions speak louder than words. Uh The hard thing because I'm, I'm not, you know, I, I criticize the NCAA when, when they deserve it, but I think oftentimes they're criticized just for everything, right? And, and, and um sometimes the NCAA can't do lawsuits, you know, there's, there's all these lawsuits and I'm, you know, I'm a big law and Order guy but it's, it's, it's hard for, you know, the NCAA to, to implement some of these things that are the, the right things.

But if, if the court say it's illegal, so I, I don't know the solutions. I, I just know that it, it does frighten me moving forward. JJ. College coaching has changed a lot in the last years because of the NIL portal. Um It's much more time consuming. Did that have anything to do with this decision? Um Well, first, so I, I think there's always been an evolution, right? In the 41 years. 3032 is, is the head coach, you know, there, there's always an evolution. So coaching is always changing, right? The the rules change and society change, you know, there's always those, those kind of things.

But I think because of nil because of the transfer portal and some of the other issues that we're facing now, um the changes have been coming fast and furious. Right? And so that's the, there, there, it's like they're extremes and so it doesn't give you time to adjust the way. Maybe in the past that you put as a coach, um, specifically for me. I mean, I'd, I'd lie if I, I said that they didn't play a role. I mean, uh, is it a major factor? No, I mean, there's other things that, that, that factored in, you know, a lot more but, you know, dealing with, you know, you know, things dealing with changes the, the, the, the transfer portal and, and, and I'm not a, a, like, I'm, I'm not a believer in, uh, well, the, you know, players should never transfer.

Right. That, that's it. I mean, you know, if something's, if it's not a good situation for you, no matter what, you know, looking for a new job, looking for a new but what, what gets lost in, in the, the one voice I've heard really espoused. This is Tom Izzo, um, because he's not afraid to be a contrarian, um, is, you know, at some point, you know, do we, do we need to save the, the, the, the kids, the, the, the young people from themselves.

I know my kids would tell you growing up they didn't get to do everything that, that they wanted. And after the fact, you know, sometimes, you know, they say, uh, you, you were right. You know, um, and I think by, you know, if, if, if, if, if people, if the young people are running from adversity or running from, you know, what, whatever, rather than facing adversity and finding a way to work through it.

Right. Um, I think they get stronger. Um, you know, uh, was it Nietzsche? You know, that, that, which does not destroy us only serves to make us stronger. Um, II, I believe that. Um, and, and so, uh, you know, those, those things, those issues are or things that I'll say, complicate the coaching profession. Now, uh, what a coach, the different hats that a coach has to wear now, um, are far more than what when I started when I was 29 years old at, at, at U VA. It's, it's, it's, it's not even close.

And I do remember at the, at the end of that year, you know, being with Coach Island and saying, look at it seems like, you know, head coaching, I, I've got 1000 different brush fires going and I've got no chance of putting them out. All I really do is make sure that those brush fires don't turn into raging infernos, you know, that was, then that was in what, 90 you know, you know, so however many years, years later you have to deal with even more. Um, so, but ha ha having said that right, and I was joking with wood earlier today and, and President Hemphill, um, you know, coaching, it's, it's, it's better than working for a living.

That's what I've always said, you know, um, it's, it's, it's hard but it's, it's great too and, you know, to kind of circle back. I'm really, really lucky. Coach Mark Nation leads the conference and attendance again this year. I witnessed that Saturday night, you have a message for coach. Um, they're, they're the best.

I mean, it's, it's, uh, you know, it's not real complicated. Um, you know, think, think about AAA mid major, uh, you know, struggling the way we are this year and leading, leading the conference, you know, it's not like there's a bunch of little schools in, in, in our league. I mean, you know, I mean, James Madison's got a great, uh, great arena and, you know, they got a bunch of students and everything and, you know, Marshall and, and, and, and others and, and for us to, to be there, I think, says a lot about, uh, our fans commitment about their love for the program but, but probably more the love for the institution. Um, and it's a really, really, really special group. Uh, you know, we've, we've been so, uh, I don't know. I, we, we, we love living here. We love being part of the community, part of the neighborhood, part of the family. Uh, and I think that's a, a big part. We're, we're not going anywhere. I mean, I'm, I'm retiring.

I'm not gonna coach anymore. But, you know, we're still gonna be, uh, uh, uh, you know, a part of this community and, and excited to, to do. So, what do you do with all the bask basketball knowledge, huh? Um, you know, I'm, I'm, I'm sure there'll be, be ways of, uh, sharing. Uh, if, if, if you will, um, you know, I, I've talked with, uh, Tim Floyd, uh, coached a lot of different places but, uh, and Kermit Davis who was at, uh, middle of Tennessee for a bunch of years, um, we've, we've become very close to the, the last couple of years, uh, that we traveled to Kuwait, uh, this, this summer together. Um, Dave Odom, uh, and, and others, we've, we've kind of joked around and talked about, you know, can, can we do, uh, uh, a really good, uh, clinic for retired coaches or of retired coaches? You know, and again, you know, we don't have a whole lot of other stuff to do. So Cliff Ellis, you know, would be another. But, um, yeah, I don't know, I don't know.

Maybe I can go watch, uh, Cornell and, and Juniors teams both of them won their conference championships this week. So proud of those guys. You seem Saturday night, you seem to get especially emotional a hug. The athletic trainer. Is there anything to be into that? No. Um That I think, I think Jason was the first cause we came down the hallway and when I finally pull our head up, he was the first person. I, I think that I, I saw not, not to, you know, downplay that at all, but, you know, there wasn't, there's not a medical thing or anything else. LA, the very, very last thing. Um, I do, uh, I guess as they say, save the best for last. Um, I wanna, I want to probably publicly thank Den today for being my person. The coach's wife has a really, really tough job and, uh, I couldn't have done it without you.

So thank you. And then the last thing, no more Coach Jones now it's part. Thank you..

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How to Plan for Early Retirement: Exclusive Retirement Calculator

When someone says the word Retirement, what comes to your mind? Is it the age at which you would probably retire or is it the bank balance that you would have or the abundant time you will have to do whatever you like doing. I think it's a combination of all three. Because all these three require lots and lots of money. Yes, in today’s video we will talk about how you can retire successfully and can generate enough corpus that your lifestyle does not get affected at all. Hi, I'm Samarth, for the past 11 years, I have been working in the finance industry and I'm currently the investments lead at wint wealth. Retirement, it should essentially mean financial freedom. In today’s example we will assume that you started your job or career at 22 or 23 years of age. And as of today, your age is 30 years. For the next 20 years, we are assuming that you'll continue your active line of work, essentially meaning that you will retire by the age of 50. Wait, wait, wait! I know you might be wondering that this video was for early retirement.

See the idea is to let you know that what should be the method for retirement calculation. If you are a little aggressive on that, you might retire by 40 itself or by 45. It all depends on your consistency and your persistence. For the time being , we have calculated this on a very conservative way and hence 50 has been considered as the retirement age. So now we'll be focusing on the example and for this we will be looking at the excel sheet. By the way, this Excel sheet that you can see on the screen can be downloaded using the link in the description and also help us know in the comments if you found this Excel sheet to be useful.

Infact, you can also download sheet right now and use it live while watching the video. You can change the numbers and see if it is suiting you and how it can help you to achieve your retirement. We have assumed that your current age is 30 years. And you started your work life or your career or your job around 22 or 23 years of age. You want to retire at the age of 50 years, your life expectancy is around 80 years. Now because you have already worked for around 7-7.5 years, we are assuming that you have saved roughly two to two and a half lakh per year, so your total savings as on date would be 16 Lakh Rupees. How is this split? Majority portion of investment is done in mutual funds. I too personally, when I started my career, so majority savings (up to 80-90%) I used to do in mutual funds. And I used to split them into growth mutual funds and a small part into dividend mutual funds.

After that since you are doing a job, you will contribute towards EPF. So we have assumed that this is around three lakh rupees. For emergency fund, you have kept some money into FD or bank balance, which is around two lakh rupees, and then remaining money, you have explored another debt option that is public provident fund and under this you have invested two lakh rupees. Basis our assumption and calculation, on this entire corpus of 16 Lakh Rupees up to the age of retirement, that is for the next 20 years, you will generate 10% returns.

So this 16 Lakh Rupees will get converted to 1.15 Crore Rupees. Yes, You heard it right. Believe me, if you do the savings consistently and in a discipline way, your Corpus becomes massive slowly. By the time I had completed five years in my job, I had enough money to pay for my car all in cash. But does that mean that mean, I did so? No. By the way, if you want to know if it makes sense for you to buy a car or use services like Ola and Uber, please watch this video. Now we are assuming that your monthly take home salary is one lakh rupees. And out of this 60,000, that is 60% of your take home salary is spent by you. After that how much would be your savings? 40,000 Rupees. Now if you keep saving this monthly, consistently in a discipline way, then you can easily generate the amount of corpus such that during your retirement life, you can manage your lifestyle very easily and won’t be financially dependent on anyone.

Next assumption which we have taken is that on your salary you will get an increment of around 8%. I know you might be feeling that the 8% figure is too high but you must also consider that although there might be years when you get only 5% or 7%. I really wish you never get so low increments, but there will be years when you will switch your job or get promotion, when your increment might be 20%, 25%. During your pre retirement age, that is up to the age of 50 years we have assumed that years care, return 10% on the amount which you're investing and on the corpus, which you already have save.

Then after retirement this figure drops to 7%. I know you must be thinking this is low, but considering that after retirement your priority will be to save capital and also beat inflation to maintain your lifestyle 7% is a very healthy number. One very important assumption that we have taken is that after retirement there will be a lot of expenses that you won't be incurring. For example, your petrol and traveling expense will reduce substantially. Then it is also true that services like internet where you require a speed of 1 GB currently, will come down to 100 or 200 MBPS then. So that will reduce your expenses. And there are many other such expenses. Okay. So we have assumed that there will be reduction of around 20% to your expenses post retirement.

All these expenses have been adjusted against inflation at the rate of 6%. There are many such expenses which are incurred once or twice in our lifetime. One of them being expenses for sending your child for higher education. If on today’s date, you send your child for higher education so may be you will spend around 30-32 Lakh Rupees, to send the child at a very good institution. This we have assumed that when you will be 52 years old, this expense will occur and at that time, considering the inflation of 6%, this will be around 96 lakh rupees. Now that you have sent your child for higher education, then after he gets settled, probably he or she will get married.

Right? We have assumed that if today you got for their marriage then you will end up spending around 25 Lakh Rupees. According to your assumptions, this event will occur when you will be 60 years old. At that point of time, you will be spending around 80 Lakh Rupees. So this also has been built in, in this model. Last but not the least and definitely one of the most important is: medical expenses. As and when you age increases, simultaneously your medical needs will also probably increase. I really wish, this doesn’t happen but it is quite possible. So on a conservative basis, we have assumed that by the time you turn 65, you might end up needing a medical expense budget of around 50 lakh rupees. Right? Which up till then will be around 1.6 Crores, right. 35 years from now, it would be around 1.60 crores. So assuming all of this if you see all this calculation, then you will find that you would probably end up needing around 8.25 Crore Rupees as your Corpus so that you can retire comfortably.

If you are able to generate this corpus by investing around 40% of your salary basis the following assumptions, month to month, year on year in instruments, which help you generate good returns like mutual funds and corporate bonds for the early starters, and then slowly and slowly moving towards more of conservative investments, where you can easily generate 9.5-9.7%, then you'll be able to achieve this corpus and basis this calculation, that you can see in the third sheet post retirement, you will see that even after you turn 80 years of age around around one crude Rupe, you will still be left with. So if you save in a disciplined way, start investments, then you can easily achieve your retirement. Under this sheet, you can also put your other additional expenses basis your age.

If you will see we have provided Additional 1 to Additional 8 blank spaces, as when you enter there it'll automatically get calculated and you will keep getting the results. The larger your retirement corpus, easier will be your retirement life, the more you will be able to afford to give to your family and enjoy the moments with them. This is why Savings are important. This is why retirement planning is important. And if you're worried to know how you can make your portfolio stronger and better in this video, we have discussed few revenue streams, which will help you generate passive income along with maintaining the safety of your portfolio until you meet next time. Happy Winting!
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Two-Pot Retirement System Explained by Old Mutual Corporate

Old Mutual 0:00
Very few South Africans   reach the end of their working careers with 
enough money saved for their retirement. To help   retirement fund members preserve funds for their 
retirement, National Treasury has proposed a new   two-pot system for retirement funds. Your future 
retirement fund contributions will be allocated   to two components. One is a savings component, the 
other is a retirement component. For this example,   we'll use the pots to illustrate the concepts. 
When the two-pot reforms go into effect,   your retirement fund will value 
your existing retirement savings,   and will allocate this amount to its own pot, 
which the industry calls the vested component. The   current rules will still apply to your existing 
retirement savings. This money will be subject   to the existing rights of access and existing 
withdrawal tax tables. Then, 10% of this pot,   up to a maximum of R30,000 will be allocated 
to your savings pot and will be available for   you to withdraw. Going forward, 1/3 of your future 
retirement contributions will go into the savings   pot. This pot is designed to be your lump sum at 
retirement. However, in the case of an emergency,   you'll be able to withdraw the money from 
your savings pot once every tax year.

This   amount will be taxed to your marginal tax rate. 
Remember, any money withdrawn from your savings   component before retirement will reduce your lump 
sum at retirement. The minimum withdrawal amount   will be R2 000. The remaining two thirds of your 
future retirement contributions will be allocated   to the retirement pot. To preserve your savings, 
you won't be allowed to access this money until   you retire. At your retirement, you'll have to 
use it to buy a pension or annuity. The aim of   this is to provide you with an income during your 
retirement years. There are a few important things   to note. The two-pot retirement system is to 
be implemented on the 1st of September 2024.   This will only affect your future retirement 
contributions from this date.

If enacted,   the two-pot system will affect pension funds, 
provident funds, retirement annuity funds,   and preservation funds. Your existing retirement 
savings will be subject to the old rules, so   there's no need to panic. Provident fund members 
over 55 will have the option to stay and continue   contributing to all their retirement savings 
to their existing provident pot. The two-pot   system will give retirement fund members access 
to a portion of their savings in an emergency.   This savings component will also be available as 
a lump sum payment at retirement if you don't make   withdrawals. At the same time, the majority 
of your time and savings will be preserved to   provide you with an income during your retirement. 
If you have any questions about these proposals,   and how they might affect you or your retirement 
fund, please reach out to Old Mutual.

.

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How to Setup Solo 401k Plan to Invest in Gold and Real Estate?

hi there Welcome to our gold investment video series in today's video we'll discuss a question we received from a follower how to set up solo 401k plan to invest in gold and real estate let's find out solo 401K is designed for self-employed individuals or owner only businesses it's like your personal retirement savings turbocharger allowing you to contribute as both employer and employee here's what to do in order to establish a solo 401K check your eligibility mainly no full-time employees except for yourself and perhaps a spouse choose a provider remember if you're keen on gold and real estate opt for a self-directed plan set it up complete the application choose your plan features and sign the agreement fund it in 2023 you can contribute up to $58,000 or even 64,000 $500 if you're 50 gold is a classic hedge against inflation and Market downturns offering diversification real estate on the other hand gives potential income and appreciates over time here's how to invest in gold through your solo 401K select IRS approved gold coins bullion ETFs or even stocks direct the investment through your solo for 01k provider remember physical gold must be stored in an IRS approved depository not your personal Locker here's how to invest in real estate through your solo 401K pick your property type residential commercial or even arits inform your solo for a1k provider and move the funds remember the solo 401k will own and manage the property not you gold and real estate have their benefits but they also come with risks be wary of price fluctuations and prohibited transactions and remember there are rules like the unrelated business income tax and distribution rules that apply navigating the journey to wealth requires knowledge discipline and diversification with a solo 401K you're in the driver's seat just remember for the best decisions consult a professional thank you for watching our video for more in-depth information about gold Iris up to date comparison of the top gold Ira companies special promotional gold Ira deals and a free gold Ira investment kit visit raremetal blog.com or click the link below

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401K to Gold IRA Rollover

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ACCOUNTANT EXPLAINS: The #1 Wealth killer no one talks about

so what's the number one wealth killer that no 
one is talking about I've just bought myself a   brand new car so I got myself a mercedesbenz 
GLC coup uh the 2024 one 220d so did I make a   financial mistake yes I did I should know better 
as a charted accountant by profession I know this   things and then also when you look into the 
spending household spending of many countries   if you look into the US the graph shows that 
number one spending for most people is housing   and then number two is transport and also when 
you look into the UK number one is housing and   then people spend number two on transport and then 
there's food entertainment and all sorts of things   so also here in South Africa I remember before we 
moved into this particular house uh our biggest   expenditure had become the car because as a result 
of this car it is a BMW a 420i because the house   that we were staying in was even much cheaper but 
now we've moved into an even more expensive house   now making the house more expensive compared to 
to the cars but many other people in South Africa   have cheaper housing and then their transport is 
more expensive because of the cars so let me give   you my figures to prove why a car is a wealth 
Destroyer so in terms of the car that I bought   it's a 48 months l so this particular car my car 
installment per month is around uh 23,000 rents   and then converted to US doll it's around $1,280 
us and then they still the insurance part of it   that is around 2,000 rent so uh in US Dollars it's 
uh around um 111 dollar and then there is your gas   or your fuel so I can estimate that to be around 
around maybe $180 I don't drive as much cuz I'm   working from home and then there is your cost of 
the tracker that's like uh a bit cheap I can say   that's around like $1 $10 so over a 48 months the 
amount that I would have spent towards this car   that I would have paid towards this car only on 
the installment is going to be around 1.2 million   converted to US dollar that's around 66,6 s us 
so you can just imagine after 4 years I would   have paid this particular amount and then now 
I give them back the car imagine if I do take   this particular amount and I say that I'm buying 
property every single month I will be paying um   1,280 towards a property and you know that with 
a property majority of the amount is going to   be paid by by the person who will be renting it 
will be paid paid by the tenant and then come four   years down the line I will still have a property 
unlike with the car come four years down the line   I won't have a car and guess what obviously I will 
want another car I will buy a new car while with   the property there will be someone who is paying 
for it and the property does retain value while   on the other hand your car depreciates all the 
time the moment it comes out of the dealership   it dep appreciate or another alternative I could 
have invested uh this money into the unit trust   every single month I put this money into the unit 
trust and then it's growing or it's accumulating   interest or I put it somewhere where it is uh 
in carrying or getting more interest by the   time it's four years time the money would have 
retained its value plus it would have also made   me some income or some form of Interest it would 
have grown if I had maybe been putting it towards   the share so you can just see how a car destroys 
the world but my view is this when it does come to   cars and housing obviously the same way I would 
not want to stay in h a house even if it can be   cheap I would still want a house that meet certain 
requirements I would still want a house that I can   be comfortable in so it also it's also the same 
with a car when you are driving on the road you   want to drive something that comes with that 
particular kind of comfort particular kind of   luxury but it's important to be something that 
is within your means something that you can be   affording because you know that interest sometimes 
they can go up and if your money the money that   you are getting is fixed while the interest is 
going up it means over time you might not even   be able to afford the car that is why my view in 
life is that I need to be making more money I need   to be making more money without necessarily always 
increasing my expenses that's why one of the goals   for this year as well is to get um more investment 
properties as well and also to be investing more   so as as much as I have bought a wealth Destroyer 
I will also be purchasing something that is going   to be building towards my wealth but these things 
can only be achieved when one is making more money   so if you are getting a fixed salary also just 
look at what other things you can be doing what   other side hustles you can be doing that can be 
increasing now your money so that you can be a   able to build your wealth so that you can be able 
to build the system because it can be difficult   to build the system if you don't know how to make 
more money because the car prices they just keep   going up every single year and even the secondhand 
Market I feel like it's it's gone up even now it's   even become so difficult now to afford a car I've 
said this before the first car that I bought was   um a polo in 2012 and I still have this particular 
car for me I felt like the polo that I've bought   was not a liability it feels like an asset so 
if you like this video don't forget to like to   subscribe to comment and to hit that notification 
Bell stay blessed and see you next time

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Retirement Planning: Are you Ready for Retirement? with Oak Harvest Retirement Success Plan

[Music] welcome to the retirement income show on Market Lane alongside the CEO and founder of Oak Harvest Financial Group that of course is Troy sharp Troy is a certified financial planner professional his team at Oak Harvest is incredible if you want to go to the website to learn more elk Harvest financialgroup.com Oak Harvest fg.com works as well a lot of great information on the website you can learn about Jared Kinney Ryan Kenny you can learn about Chris Paris Jessica canella the whole team there's just a phenomenal team Oak Harvest financialgroup.com and of course you can always go to the YouTube channel there's over 300 videos on there about any topic you can think about in the financial world the retirement world uh it's phenomenal and there's no cost you subscribe you'll know when all the new ones are out but there's no cost to any of that YouTube check out Troy sharp and Oak Harvest Troy's office located at 921 oral City Way I-10 and Bunker Hill they they are here for you if you need help they would love to help they just don't know if they can help until you reach out and you can do that just by giving them a call 800-822-64-34-800-822-64 34 today we're going to be talking the retirement success plan Troy is going to explain what this is and it's the process so it's about investment planning income planning tax planning health planning Estate Planning and they all go together Social Security and Medicare are in there as well you know you've done this for a long time you sat down with a lot of people so you kind of understand the common mistakes the common things that we Overlook as well this will be good going through the retirement success plan how are you going to inform us today of this retirement success plan well just like we have as humans we have basic needs right we have that hierarchy of we need shelter we need food we need security in retirement or once we get to retirement people have their the same concerns the same questions we all have the same let's call it fears do we have enough you know can you retire when can you retire how much can you spend when you do retire without the fear of running out of money we all want to pay less tax right the government can get their fair share but not a not a penny more and whatever that fair share is it's it's defined differently based on your plan so if you take the government's plan there they want to get as much from you as possible and the tax law is set up in a way that if you don't plan for taxes in retirement oftentimes we see people in situations where if they keep doing what they're doing 200 300 500 800 we sat down with a client prospective client recently and we're doing this analysis it was well over a million dollars in taxes if he kept doing the his way of things the way that his advisor had him doing it in regards to his income plan and tax plan and retirement well there was no tax plan obviously but his income plan was going to lead create this domino effect of his tax bill being over the course of time over the course of 25 years over a million dollars in estimated taxes that he was going to pay that he simply didn't have to pay if he went about a different approach the approach that I'm going to talk with you about today as far as step three of our retirement success process the tax planning aspect so just like we have basic needs as human beings we have basic concerns when it comes to retirement and we've created the structured process and that's the beautiful thing about the retirement success plan is it's a plan that is something that is actionable but it's also living and breathing it's something we will review with you throughout the year once you're a client but it's also a process and we believe in structure here we're really big on structure and process and that keeps us organized that keeps us on schedule and that keeps us ahead of the planning curve in order to do the things that we promise for everyone that's entrusted so much to us and I'm talking about your retirement you worked for 30 years 40 years 50 years in some cases and you save up whether it's five hundred thousand dollars or five million or 50 million you need a team of people that of course are knowledgeable but before education and certifications and designations and training and experience first and foremost you need somebody that cares okay if you start there with someone that's a fiduciary and not just you can be a fiduciary and still do the wrong thing I've seen it for years in the industry where fiduciary advisors still sell mutual funds that have high fees and commissions and they can make justifications for why they're selling them or why they think you're they're in your best interest I don't believe that they are personally um we would never put someone into a mutual fund that is charging a five percent front end commission and then you know has two or two and a half percent of hidden fees and we've seen that for for years coming from fiduciary firms fiduciary advisors so you start with from Ground Zero are you working with somebody who truly cares who's truly passionate about retirement so with that philosophy in mind that's the foundation of of what we look at when we hire people here at Oak Harvest Financial Group you could have all the designations in the world all the education all the experience but if if you're arrogant if you're not humble if you're not hungry if you're not continuing strive to be continuing to strive to be a better person we don't want you to work here because that foundational element do you care about the people that you're working with on a human level if that's not there then you know we don't want any part of that type of person I don't care how much you produce how what the metrics are when it comes to how we measure advisor performance so that's the foundation now once you have someone that cares you want a structured process in place to deal with those big questions that you have the big concerns that you have so do you have enough yet it's not just a yes or no question it's a function of how much do you spend what is your health situation if you're healthy yes of course you're going to live longer most likely but are you planning for the increased medical costs in increased probability of needing long-term care or Assisted Living these are aspects that healthier people do have to absolutely be concerned about those that are less healthy it's less likely you're going to have a two or three year four or five year stay in a long-term care facility or need nurses in the home so when we talk about do you have enough and can you retire these are all the answers to those questions are function of how much do you spend what is your longevity what is your health situation your of course your family history um but not only that it's what are we doing with the other aspects of this process meaning the income planning side the tax planning side what about the health care side you know are you retiring before Medicare do we need to look at some type of Health Care planning that qualifies you to receive a subsidy so you're not paying two thousand dollars a month for both spouses for health insurance that maybe we get it down to 400 a month or 600 a month or maybe no out-of-pocket costs whatsoever for health insurance premiums you can do that with proper planning but you need the right type of asset structure meaning if you have all your money in retirement accounts this is where tax planning comes in when you take money out that goes on to your 1040 your tax return and then you probably aren't going to qualify for as big a subsidy as if you had money saved and non-ira accounts so this the structuring of income planning tax planning Health Care planning and then of course the estate side of things this is all what the oak Harvest retirement success process the retirement success plan is and that's what you receive when you become a client it is a very clear and structured process that we go through but then it's also a plan that is living and breathing and we're making adjustments as time goes on tax law changes economic conditions change goals change your spending levels will change it retirement is and we've only learned this you know from years and years of experience the best delayed plans we can't just set him and forget them you know plans need constant monitoring just like a plant or a garden or you know a human being so the retirement success process we're going to get into today to to today we're going to focus on the first three steps the first step is risk management and investment planning next step is income planning so income planning is social security when do we take that it's not just based on the math which it does play a role but when we start to look at are you a conservative investor okay versus an aggressive investor investor that plays into the Social Security election decision of course your Health and Longevity plays in market conditions okay are we in a recession when you're thinking about taking social security are your accounts down 20 30 percent or did we have a really really good year last year and it looks like we're gonna have a good year this year all of these factors kind of tie in to that income planning component as well as many other we're going to talk about and then the big one we're gonna we're gonna get into is tax planning that's step three of the retirement success process and when you start to understand that retirement is a set of dominoes when you're young you work you put the kids through school you deal with traffic you deal with bosses you deal with if you run your own business all the headaches that come with that you deal with so many different things money is really really simple it's life that's complicated in the accumulation phase once we get to retirement now life gets a little bit more simple it's the money it's the decisions you have to make and the realization that every single decision you make how you invest the portfolio impacts not not only how much income you can take today but how much income you can take down the road the sequence of returns risk based on how you've invested sequence of returns is if the market goes down and you're also taking money out you exacerbate that downturn in the market because there's no paychecks coming in you're you're pulling money out and losing in the market so these decisions every single one that you make it's a domino effect it impacts everything else it impacts the tax plan it impacts the income strategy can impact the health care it can impact absolutely the estate plan so we walk you through this process so we have a plan in place we call it the retirement success plan and the goal is for you to have security first and foremost but what I find most often is the outcome is that people feel more comfortable they feel more secure and they're able to enjoy retirement a bit more because they've they have a plan in place that addresses all these certain needs but also through the continual monitoring and adjusting and conversations one thing I love about our process is when someone comes to us and we have that first meeting where it's just get to know you you know no pressure no obligation no cost we get the information we do an analysis between that first and that second visit and then when we come back on that second visit you actually get to see what it's like to be a client at Oak Harvest Financial Group because that second visit with us we're starting to go through the foundation of a financial plan we're starting to discuss the decisions that you have to make not only this year but in the future so that's almost exactly what it's like to have an annual review with us or a semi-annual review with us so I love that about our process is that you get to see before you ever decide to become a client what it's like to actually be a client when we have up on the big television screen all of the information the choices you have to make the impact of making different decisions how it impacts your taxes how it impacts your income how it impacts your account balances when we do a sensitivity analysis and and show you okay this outcome in the market and this outcome for income decisions versus this one here are the possible outcomes for those choices and that those combination of choices so you get to see what it's like to actually be a client just through our normal process of going through that first second and third visit with us many Engineers it takes a little bit longer than that sometimes it's four or five visits but our goal is to Simply provide value we want to make deposits in your life we want to provide value and you know people see that value and they say you know what I think you guys could be a great part of my financial team my retirement team and yes I want to work with you Troy so if that's you if you don't have a retirement success plan if you don't have a tax plan income plan if you don't understand the guard rails what I'm going to get into in this next segment as far as risk management in retirement give us a call we want you to leave a message there's no one here working on the weekends if you're watching this on YouTube if you're listening to this later and it's during the week sure give us a call someone will pick up but we want to have a conversation just to see what's important to you who you are if you're a good fit for what we do and of course you can ask questions to see if we're a good fit for you and then we'll schedule that first visit there's no cost no obligation we can do it through Zoom we can do it in person at the office right here at I-10 and Bunker Hill in Memorial City and that first visit we'll have a cup of coffee a glass of water and just get to know each other and if we are a good fit at that point we'll get that second scheduled we'll do the analysis that I talked about and we'll walk you through that retirement success process so you can have those big questions answered do you have enough can you retire and how do you pay less tax 1-800-822-6434 1-800-822-6434 Oak Harvest Financial Group check out the YouTube channel check out the website Oak Harvest Financial Group so when you think about this this is what I think you should really like about it it's you're working with the team at Oak Harvest for your retirement right to coming up with that retirement success plan you're the CEO it's your retirement look at Troy and the team at Oak Harvest as your Chief Financial Officer here to help guide you you're going to make the decisions they're going to give you the choices right and it's up to you because it is your retirement it's your hopes and dreams your bucket list and all of that it's really important though that they understand your feelings your thoughts your hopes your dreams it is about you so you've got to talk to them and they're here to listen and they're here to help again that number is 800-822-6434 risk management how important is it what actually is it Troy we'll explain when we come back this is the retirement income show with Troy sharp out of Oak Harvest Financial Group back right after this investment advisory services offered through Oak Harvest Financial Group LLC Oak Harbor's Financial Group is an independent Financial Services firm that helps people create retirement strategies using a variety of insurance and investment products investing involves risk including the loss of principal any references to protection benefits or lifetime income generally refer to fixed Insurance products never Securities or investment products insurance and annuity product guarantees are backed by the financial strength and claims paying ability of the issuing insurance company Oak Harbor's Financial Group LLC is not permitted to offer a No statement made during this show shall constitute tax or legal advice you should speak to a qualified professional before making any decisions about your personal situation we are not affiliated with the US government or any governmental agency this radio show is a paid placement foreign [Music]

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Financial Freedom #2: Retirement Planning Strategies

Hello, and welcome to my latest video, where
we're diving deep into the realm of retirement planning. Whether you're approaching retirement or already
savoring the golden years, this video is tailor-made for you. I'm your host, Siddarth Tummala, and today,
we're unlocking the secrets to financial security in retirement. But before we dive in, if you haven't already,
please hit that subscribe button, and if you like my content, show me some love by hitting
the like button as well. And don't forget to check out my website down
below for more information. Now, buckle up, and let's embark on this journey
together! Our first stop on this financial adventure
takes us to the heart of retirement planning – optimizing 401(k) and IRA accounts.

Now, when it comes to 401(k)s, it's crucial
to maximize your contributions. If your employer offers a matching contribution,
strive to contribute enough to capture that full amount. However, not everyone can do this all the
time. Luckily, catch-up contributions exist. This allows people 50 and over to contribute
an extra 7,500 dollars on top of the standard limit, allowing you to “catch up” on the
investments you missed earlier on. For our friends with Individual Retirement
Accounts or IRAs, explore the options of Traditional or Roth. Each has its perks, and the right choice depends
on your unique circumstances. A Traditional IRA may provide a tax deduction
now, while a Roth IRA offers tax-free withdrawals during your retirement. Onto the big problem, healthcare costs – a
topic that can be a source of stress for many retirees. Fear not, as we're delving into invaluable
insights on managing healthcare costs during retirement, ensuring your savings remain robust.

First and foremost, educate yourself about
Medicare and supplemental insurance options. Understanding what's covered and what isn't
can save you from unexpected expenses. For example, procedures such as cosmetic surgeries,
fertility treatments, or laser eye surgery are not covered by most insurance companies. However, it depends on your insurance company
for what procedures are covered as each company has its own rules. Additionally, consider health savings accounts
or (HSAs) for tax-advantaged savings to cover medical expenses. These accounts allow you to dedicate your
money to a savings account that grows tax-free.

Then, if a medical issue arises, you can withdraw
money tax-free to help pay off medical expenses. Similarly, there are also other ways to proactively
reduce medical bills. Embracing a healthy lifestyle can be a viable
approach to reducing healthcare costs. Regular exercise, a balanced diet, and preventive
care can contribute to both physical well-being and financial resilience. Now, let's talk about everyone's favorite
topic – maximizing Social Security benefits! It's a crucial income source that, with a
bit of strategic planning, can be optimized for your financial benefit. First off, timing is key. While you can start claiming benefits as early
as the age of 62, delaying until the full retirement age (usually between 66 and 67)
or even later, to a maximum age of 70, can significantly increase your monthly benefits.

Patience can pay off! Another tip – consider the taxation of Social
Security benefits. If you have other sources of income, a portion
of your Social Security benefits may be subject to income tax. By delaying your social security benefits,
you can tap into your other assets first which will provide you with less taxable income
during your retirement. Understanding the tax implications can help
save and prepare you for unexpected expenses. And there you have it, – a comprehensive
guide to essential retirement planning strategies. From optimizing your 401(k) and IRA accounts
to managing healthcare costs, and maximizing Social Security benefits, these key steps
can pave the way to a worry-free future. If you found this information valuable, don't
forget to hit the like button, subscribe to my channel, and share your thoughts in the
comments below.

Remember to stay financially savvy!.

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