337 Winning Words With Ross Hjelseth
Play • 50 min

In this podcast episode Jason interview Ross Hjelseth about his book and podcast titled Winning Words.

Retirement Answer Man
Retirement Answer Man
Roger Whitney, CFP®, CIMA®, RMA, CPWA®, AIF®
Let’s Get Physical - Creating Your Health Action Plan
Over the past 3 episodes, we have been talking about different ways that you can improve your health in retirement. Today you’ll take action. Choose the habits you want to build and learn how to actually build these habits and set yourself up for success. Learning about health and nutrition is one thing, but taking action is something else entirely. Press play so you don’t miss out on these tips to learn how to create and stick with healthy habits. Do you need to redefine your fitness identity? When we are young it can be easy to take on a fitness identity. I’m a mountain biker. He’s a basketball player. She’s a swimmer. But as we age we can face a fitness identity crisis. Our fitness becomes more about mobility and nutrition. To help yourself create your new fitness identity think about what you want to accomplish. What do you want to improve about yourself? What new version of yourself would you like to see? Think about your motivation. Why do you want to have a healthy body? This is how you can define yourself. Listen in to hear my new motivation for good health. Choose the habits you want to build The power of good (or poor) health comes from habits. Positive and negative habits compound over time so to begin a healthy lifestyle you have to start by building healthy habits. You could start by building a huge meal plan or exercise routine, but that could also set you up for failure. Rather than creating a strict workout routine try tinkering with your movements to explore healthy activities that you really enjoy. How to build a habit and make it stick You may already understand the importance of building healthy habits but some of us don’t know how to make them stick. Many of us try to create a routine but then struggle to maintain the habits we have created. Luckily, starting and keeping up healthy habits doesn’t have to be as complicated as you think. Try using these tips to help you create and maintain your healthy habits. To create healthy habits: * Set yourself up for success. Make the habit simple to do. * Create friction. Take a bad habit and make it hard to do. * Start with a small habit. Plan on starting with 5 or 10 minutes a day. To maintain and build up your new habits: * Over time increase your routine in small ways. * As you build up your routine, split it up into separate times each day. * When you falter restart quickly and don’t beat yourself up about it. You have the opportunity to change your health Retirement gives you the freedom to change your lifestyle. You have the opportunity to structure your day in a more purposeful manner. Think about who you want to be in retirement and get started building the habits you need to become that person. Listen in to the Coaches Corner segment with BW to hear how movement and mindset can shape your retirement. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT * [3:30] Most of us have to redefine our fitness identity as we age * [7:25] How to build a habit * [15:32] Two stories to demonstrate different life views COACHES CORNER WITH BW * [19:45] Movement and mindset can help keep you young * [26:52] Use technology to improve your health TODAY’S SMART SPRINT SEGMENT * [34:36] Start to make a change to improve your health Resources Mentioned In This Episode Streaks app Noom app Peloton app Oura Ring James Clear Habit Guide BOOK - Atomic Habits by James Clear Stride app Leave me a comment! Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement by Roger Whitney Work with Roger Roger’s Retirement Learning Center
37 min
Anderson Business Advisors Podcast
Anderson Business Advisors Podcast
AndersonAdvisors.com
Tax Tuesday with Toby Mathis 02-16-2021
It’s never a good idea to gift things to somebody. Instead, make them work for it. Take care of yourself, your family, and your taxes. Toby Mathis and Jeff Webb of Anderson Advisors answer your tax questions. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: * How do I gift my son a fully depreciated rental property without causing a tax consequence? Typically, gifts do not cause tax consequences; however, it is not always wise to do so * We are considering purchasing a vehicle, which will be used about probably 75% of the time for our real estate business. Should we purchase it in the LLC (an S Corp) or personally? What are the advantages and disadvantages of both? Consider liability, tax consequences, cost factor, and value of vehicle; unless it’s a maintenance or utility vehicle, put it in your personal name and get reimbursed for the mileage because commercial insurance is much more expensive * Excluding the 1031 Exchange, is there any way to legally avoid paying depreciation recapture tax when you sell a rental property? Don’t have a gain on your sale * I have several vendors refusing to give me their W-9, and I have to threaten to withhold payments. When should I collect and not collect W-9? Vendors need to complete the W-9, but you are not required to issue them 1099s—although you should anyway * Can we sell our home on an installment sale to an Intentionally Defective Grantor Trust (IDGT) and then lease it back? And at the same time, have the depreciation and other costs flow to our return because of IDGT taxation rules? IDGT is an irrevocable trust that is not actually irrevocable because of adding ‘Grantor’ wording to make it intentionally defective for tax purposes For all questions/answers discussed, sign up to be a Platinum member to view the replay! Go to iTunes to leave a review of the Tax Tuesday podcast. Resources: Tax and Asset Protection Workshop (Free 1-Day Virtual Event on Feb. 27) http://aba.link/TAP227 Wills and Trusts https://andersonadvisors.com/living_trusts/ MileIQ https://www.mileiq.com/ Real Estate Professional Requirements https://www.irs.gov/pub/irs-utl/33-Real Estate Professionals.pdf Doing Business As (DBA) https://www.entrepreneur.com/encyclopedia/doing-business-as-dba Entity Formation https://andersonadvisors.com/entity_formation/ 1031 Exchange https://www.irs.gov/pub/irs-news/fs-08-18.pdf Bonus Depreciation https://www.irs.gov/newsroom/new-rules-and-limitations-for-depreciation-and-expensing-under-the-tax-cuts-and-jobs-act Depreciation Recapture https://www.investopedia.com/terms/d/depreciationrecapture.asp Form W-9 https://www.irs.gov/forms-pubs/about-form-w-9 Intentionally Defective Grantor Trust (IDGT) https://www.investopedia.com/terms/i/igdt.asp Section 121 Exclusion https://www.irs.gov/taxtopics/tc701 FHA Loan Requirements https://www.fha.com/fha_loan_requirements Capital Gains and Losses https://www.irs.gov/newsroom/capital-gains-and-losses-10-helpful-facts-to-know-0 Form 1099 https://www.irs.gov/forms-pubs/about-form-1099-misc Retirement Plans https://andersonadvisors.com/retirement_plan/ Self-Directed IRA (SDIRA) https://www.investopedia.com/terms/s/self-directed-ira.asp Unrelated Business Income Tax (UBIT) https://www.irs.gov/charities-non-profits/unrelated-business-income-tax Conservation Easements https://www.conservationeasement.us/what-is-a-conservation-easement/ Solar Investment Tax Credit (ITC) https://www.seia.org/initiatives/solar-investment-tax-credit-itc#:~:text=Quick%20facts,large%2Dscale%20utility%20solar%20farms. Taxpayer Certainty and Disaster Tax Relief Act of 2020 https://www.finance.senate.gov/download/section-by-section_-taxpayer-certainty-and-disaster-tax-relief-act-of-2020 Step-Up in Basis https://www.investopedia.com/terms/s/stepupinbasis.asp#:~:text=A%20step%2Dup%20in%20basis%20is%20the%20readjustment%20of%20the,for%20tax%20purposes%20upon%20inheritance.&text=The%20asset%20receives%20a%20step,of%20property%20transferred%20at%20death. CARES Act https://www.congress.gov/116/bills/hr748/BILLS-116hr748enr.pdf Charitable Organizations https://www.irs.gov/charities-non-profits/charitable-organizations Opportunity Zones https://www.irs.gov/credits-deductions/opportunity-zones-frequently-asked-questions Rollovers as Business Start-Ups (ROBS) https://www.irs.gov/retirement-plans/rollovers-as-business-start-ups-compliance-project Toby Mathis http://tobymathis.com/about-toby-mathis/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors Events https://andersonadvisors.com/all-events/ Events@andersonadvisors.com Anderson Advisors Tax and Asset Protection Workshop https://andersonadvisors.com/asset-protection/ Anderson Advisors Tax-Wise Workshop https://andersonadvisors.com/tax-wise-workshop-for-businesses-investors/ Anderson Advisors Infinity Investing Workshop https://andersonadvisors.com/investing-workshop-passive-income-generating-machine/ Anderson Advisors on YouTube https://www.youtube.com/channel/UCX5nh607M8hSBLiMB9MgbIQ Anderson Advisors on Facebook https://www.facebook.com/AndersonBusinessAdvisors/ Anderson Advisors Podcast https://andersonadvisors.com/podcast/
1 hr 9 min
The Power Of Zero Show
The Power Of Zero Show
David McKnight
"From Forever Taxed to Never Taxed": My Interview with Ed Slott (Part 1)
Ed Slott has a new book coming out called The New Retirement Savings Time Bomb. It’s the updated version of the original book written 20 years ago where the time bomb was the tax building up in your IRA account. If you didn’t know how to plan, you could be hit twice and lose up to 80% and 90%. Some of the Estate taxes have gone away since then, but there are other new threats to your retirement savings than ever before. Congress always needs money, and they will always go for the lowest hanging fruit, which is your retirement savings. It’s like a deal with the devil, getting those deductions on the front end with the hope that you will be in a lower tax bracket. This assumption is where the danger lies. The Secure Act has ironically made your retirement savings less secure. The biggest threat is the elimination of the stretch IRA and the estate implications. Every plan needs to be reviewed and revised, maybe scrapped altogether for different thinking entirely. Congress needs money, which means tax rates are going to go up and that people will have less money in retirement. What is driving the need for these huge infusions of cash? Deficits and debts are the issue. The government has been recklessly spending for decades, and now it’s only increased with the effects of Covid-19. When most people think of compound interest, they think of how Albert Einstein is the 8th wonder of the world. It’s great when it’s working for you, but awful when compounding is working against you. Compounding debt is the real issue. The math doesn’t discriminate. The math bears it out that we will never see tax rates as low as they are today. We need a more stable and secure plan for the future. The history of tax rates shows that we could return to where rates were as high as 90% for the top tax brackets. You may only have one more year to take advantage of these historically low tax rates. People have to realize that they are in control of their tax rates. Taking advantage of the current low tax rates is the best tax planning you can do. Always pay taxes when the rates are the lowest. That may mean paying some taxes now, but you have to remember that taxes are a bill that won’t go away. The concern about losing out on compounding interest when converting to a Roth IRA is a myth. If you are truly comparing apples to apples, there is no loss when using the same rates of return and taxes, but if rates go up, then everything changes. When rates go up, everything tax-free becomes more valuable. When you have money in your IRA, it is accruing to the benefit of the IRS. When you convert now, you are claiming your portion of the money, as well as the future interest. Taxes have to be paid for. It’s not if, it’s when. Why not pay them while they are on sale? Even in the worst case scenario, by converting now you lock in a zero percent tax rate for the rest of your life, which is not a bad consolation prize. After the Secure Act, using a trust to protect your money after death is no longer viable. Regardless of what happens with tax rates, this is going to become a huge burden for a number of people, and this makes a permanent life insurance policy even more attractive. People don’t care about the vehicle. They want the results. They want low taxes, larger inheritance, and post death control, and a permanent life insurance plan that fits the bill. Mentioned in this Episode: The New Retirement Savings Time Bomb by Ed Slott can be pre-ordered on Amazon here: https://www.amazon.com/gp/product/B07TSZSSY5/ref=dbs_a_def_rwt_bibl_vppi_i0
28 min
Behind the Bima
Behind the Bima
Rabbi Efrem Goldberg
February 24, 2021: Special Guests: The Bluefelds and Rick Smith Jr.
Rabbis Efrem Goldberg, Philip Moskowitz, and Josh Broide, from Boca Raton Synagogue, shmooze about contemporary issues. Every week features an unscripted and lively discussion, special guests, and a behind-the-scenes look at leading a large and dynamic Jewish community. BRS + (https://www.brsonline.org/global) is not a subscription service, it is a global community of learners, with shared vision and shared values. Be part of the BRS global community and join our countless learning opportunities, programs, panel discussions, outreach efforts, Israel advocacy and more. Be part of a diverse global community representing different age groups, backgrounds, countries, all united in a commitment to reaching in, reaching out, and reaching up! Connect with Rabbi Efrem Goldberg: Website: https://rabbiefremgoldberg.org/ Facebook: http://www.facebook.com/efrem.goldberg Twitter: http://twitter.com/rabbigoldberg Special Guests: The Bluefelds who first met when they were 16 years old, are celebrating their 80th wedding anniversary. Richard Smith Jr. is a professional illusionist and card thrower from Cleveland, Ohio. Smith is best known for his numerous nationally televised performances as well as his three world records for throwing a playing card the greatest distance, greatest height, and most accurately Sponsor: The mission of DailyGiving (www.dailygiving.org) is to enable every Jew to easily perform the mitzvah of tzedaka every single day, and to disperse those funds to deserving Jewish non-profit organizations around the world on a daily basis. Sponsor: The mission of BeeperMD is to make an awesome service that beats covid. Therefore, what we are doing is making at home-covid testing service and enabling people to conquer covid. Rabbi Efrem Goldberg is the Senior Rabbi of the Boca Raton Synagogue (BRS), a rapidly-growing congregation of over 800 families and over 1,000 children in Boca Raton, Florida. BRS is the largest Orthodox Synagogue in the Southeast United States. Rabbi Goldberg's warm and welcoming personality has helped attract people of diverse backgrounds and ages to feel part of the BRS community, reinforcing the BRS credo of 'Valuing Diversity and Celebrating Unity. Rabbi Philip Moskowitz serves as Associate Rabbi at Boca Raton Synagogue (BRS), where he helps lead a rapidly growing congregation of over 850 families including over 1,000 children. His warm personality and dynamic, positive spirit make people of all backgrounds and ages feel a part of the BRS community. Rabbi Moskowitz officiates at life cycle events, provides pastoral counseling, and serves as halachic advisor and close confidante to hundreds of members. Beyond the engaging and relevant Shabbat morning sermons, delivered to multiple, diverse minyanim, and the numerous regular classes and shiurim in the Shul, Rabbi Moskowitz regularly teaches Torah in private homes, local day schools, and the community at large. Rabbi Josh Broide is the Director of the Deborah & Larry D. Silver Center for Jewish Engagement (CJE), a Division of the Jewish Federation of South Palm Beach County. He is also the Founder and Director of the Boca Raton Jewish Experience (BRJE), a rapidly growing outreach and engagement program in Boca Raton, Florida. In addition he also works as the Outreach Rabbi at Boca Raton Synagogue (BRS), one of the largest Modern Orthodox Synagogues in North America.
1 hr 5 min
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