Investments in This New Era
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Welcome to the gill on money show. It's thursday, november twenty first, and we are here answering your financial questions. If you've got one, a big something is coming up or something that maybe is just sort of annoying at you, get in touch with us.

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And that's so great. It's just thirty five dollars. The Price is going up next year.

So please know that if you join right now, yeah, you get thirty five bucks for the next twelve months. okay. IT is now time time to turn to you.

We're going to do some emails. The first one is from anonymous who writes that i'm in my mid forties and i've got two pensions. They're no longer active.

I have the option to take a lumpsum and put that amount into an ira or another tax to for tirely account. What would be some of the considerations for doing that? I believe that i'm OK with my retirement savings.

Well, anonymous, couple of things to consider. One is, are these pensions, old pensions that are fully funded, meaning are weak, confident that the organization may be a private company, has the money set aside to pay out that amount that is due? The second thing is, you know, if they do, maybe having some stream of income could really work for you in the future.

But if you are considering moving the money as a lumpsum, there's no downside to doing IT. IT just gets put into your whole retirement savings account and there is a way to manage IT more easily and IT would be a direct transfer. So I don't see any downside in doing IT.

The lumpsum stream of income has a lot to do with what else is going on in your life. This is from Cliff, who writes, I have questions about withdrawing funds from my retirement account, or there are certified financial planner that I can hire once or maybe twice for investment advice. I'd like to manage my funds myself, but IT does seem like all the financial planner that I contact want to a completely take over my account on a long term basis.

This is a great question. There are certain types of advisers who services are available by the hour. That's a possibility.

There are also people. We were called the only financial planners. You can find them at the national association of personal financial advisers, or nap fa N A P F A dot org.

These are the types of folks who will do a project like this. And maybe you'll have an ongoing relationship. But you're right, a couple times a year you can do this and that might be just what you need.

And by the way, there are certain companies that provide ongoing financial advice simply by just enough money there like Better man or vanguard or where you have a certain minimum amount that you have to satisfy. Yb, it's twenty five or fifty or hundred thousand dollars, and with that amount, you get some advisory services alongside that. So you may want to check that out as well.

This is from Peter, who says, long time listener, first time email or just want to see how you think we are doing. I'm thirty nine. My wife is thirty six.

I recently transition to the private sector three years ago, and my total compensation is about three hundred and three hundred fifty thousand dollars a year, by the way, is making one third of that three years ago. So I am brand new to making great money. My wife makes roughly three hundred thousand dollars working for a big company.

So well, they're making over six hundred grand. We have two kids, a four year old daughter and a two year old. Our state documents are in order.

I have a million dollars in life insurance. My wife has one and a half million dollars. We've got one hundred grand in in cash, a broker account, one hundred seventy seven thousand dollars.

Wife is maxing out her four one k there's two hundred eighty five thousand. There is a fidelity broker account, which has his with employee stock and an etf, the venger total stock market index fund. I have a four one k with a sixty three thousand dollar baLance.

I also have an old retirement account, sixty four thousand dollars in. My wife has a hundred thousand dollars of restricted stock. We bought a house this year for seven hundred seventy five thousand dollars with a six point nine nine percent thirty year mortgage.

We put a big chunk down. We probably have about three hundred thousand dollars so of equity in the house. Here is the kicker. I have a large student loan debt from a private law school, roughly three hundred forty thousand dollars in student loans. The good news is i'm on the pay program and i've been paying into IT for eleven years.

I'm currently paying about five hundred dollars a months and payments, but with my new higher income payments will be about twelve to thirteen hundred dollars a month since my wife and I filed separately. How are we doing? What are my blind spots? We're both maxing out for one case.

And with my monthly bonuses, i'm now able to socked away anywhere from five to ten thousand dollars extra a month. At this point, i'm alternating between my broken account, the kids, five, twenty nine and dollar cost average, easily ally the student loan. That is a lot, but the repayment plan is great, and IT will be forgiven in nine more years of payments, and the payments don't hurt too much.

I don't think i'm missing anything else, so i'm happy to answer any questions and appreciate your help. Well, does sound like you're in great shape. And Peter, what I think I would do is make sure instead of altering, just pick an amount that you wanna put into all these accounts and get IT done automatically.

Just put a fixed amount in the broker account and the kids five, twenty nine account. I'm not sure about the student loan payment plans. I don't know. Things are gona change in the next administration. And that would argue for making sure that you do have a bulk up broker account in case that whole plan changes dramatically.

So that the only thing I would say sounds like you're in great shape, be discipline, get that money flowing as quickly as you can and just be prepared. Things could change when IT comes to student payments. This question is from eva.

I also got this question from a friend of mine, a very close friend of mine. So this is a question about, is the stock market too frothy and should there be an action item? So I want to read a VS question.

I'm seeing so much chatter about safeguarding investments, some people are advocating playing out of stocks entirely. How can we guard ourselves against volatility without being recklessly anxious? What does IT mean to be more fiscally conservative as an investor in reality? What is the right mix? Fifty, fifty.

Could you please address the current situation for listeners? I'm nervous. I've always been one to stay the course of the last twenty five years in the market.

I do have an adviser. I would love your take. I've got two million dollars in stocks and bonds, just over half of that in a broken versus retirement account.

I've got five hundred thousand dollars in cash on, and cds are only dead as a two point percent mortgage with two hundred sixty thousand dollars left. I am forty nine, my husband is fifty two. We don't have kids and we've got about six thousand dollars a month in expenses.

He is working and I am not right now. And we earned about one hundred fifty thousand dollars a year. So that's from eva. And by the way, I got the same question from, again, one of my very close friends in the world is the market to profesh.

Should we be following Warren buffer s advice and bulking up on our cash? So my answer to both of these questions is i've just not a market timer, and I feel very strongly that when you worried about these next four years, I understand that people have different feelings about who's going to be running treasury or the federal reserve. All those things matter.

But chances are, ava and my friend, you know that you are investing for decades in the future. We know that market timing does not work, but this is what I do know, rebalancing your account works. So if you start the year and you are an who has, say, sixty percent of your money in stocks and forty percent in bonds, maybe with the rise and stocks are seventy, thirty sell, ten percent of the stock position redirected into the bond, now you're back to your target allocation.

And if you do this in a retirement account, no tax that do. And if you rebaLance in a taxable brokers account, you might have to pay attacks s on the game. But I don't care.

I just think rebalancing really does work if you're really worried about the future. IT argues for having low expenses relative to your income. You do you have that? They also would argue for having a healthy cash baLance.

You have that as well. And my friend, who I know, SHE and her husband have plenty of cash on hand. That's really the thing that you can control.

You can control your spending and your allocation beyond that. Please, let's stick with this. We are talking about decades in the future.

So I know that sounds like tried and true. You don't have to time the market. You do have to rebaLance.

This question is from lisa. I saw the loser stock in my I. R. A.

Can I take that loss on my twenty, twenty four taxes? No, you can't. This is a feature of a tax preferred account, whether it's a author, traditional.

Any loss that is incurred in a retirement account is not a loss that you can claim for your taxes. You can only do that when it's a taxable account. This is from gene, who writes, my husband and I are gearing up for his retirement every day that passes IT actually can pass fast enough.

He will be sixty five in may. I am turning sixty three this month. We don't know how to navigate health insurance for me until i'm sixty five.

His company would love for him to stay on as a consultant. I'm telling him to negotiate something with the company for health insurance, but he truly curses the company every day. I can't have to do this.

So how do we bridge the health insurance question for me? We have money, but we don't know where to take IT from. We are so nervous with the market. Can you please help in his job? Could he potentially choose cobra, meaning the extension of his health care for you?

If you can't, i'm not even worried about that because you will go to health care dog in your state and you will get coverage for yourself, and I won't. Thank you. I think that if you do this, you might be pleasantly surprised because depending on your income, you may not have to pay a lot for health insurance.

You'll get the coverage you need. It'll cost what IT costs, if you wouldn't mind, just get back in touch with us so that we can find out what is the social security claiming strategy for you guys, whether or not you might be entitled to health care dock of tax credits because you're gonna have low income, hopefully. But even if you don't qualify for those tax credits, IT really does sound like you in good shape.

And I just want to it's something really nice, the gene route, because I made me feel so good today. So here is actually how SHE ended her email to us. I listen to all of your podcast, and I want to be clear, a recent episode where you showed a woman who talked about her disease husband from four years ago with such kindness made me cry.

You two are the best. Wow, jie, that made me feel wonderful. And I really appreciate your comments. Okay, that is that that's the program.

If you've got something that's on your mind, something financial, give us a holler, good to drill and money doctors click the contact us, but let us know if you've willing to come on the year live. Don't forget to sign for the free weekly newsletter comes at everything friday. You can subscribe to us on the auto sa apple.

Wherever you find your favorite podcast, please leave us a rating and review wherever you listen. And of course, do something nice for someone else today. Change your work, change your wealth, change your life. Thank you for listening. We'll .

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