How Money From Your Employer For Loans Can Hurt You
32 min

Free money from your employer to help pay off your loans is a great idea, right? Wrong! It could be one of the worst employee benefits ever. I’ll break down how this can affect your finances and show you how employer student loan benefits are a bad idea.

In today’s episode, you'll find out:

  • Why taking money from your employer for student loans is a trap
  • How a free $100,000 can end up costing you $50,000
  • The tax consequences of employer-paid student loan payments
  • The effect of employer student loan benefits on PSLF
  • The problem with old-school thought patterns about debt
  • Why “getting your debt to zero” isn’t the best strategy
  • How to get ahead by negotiating employer benefits

Full show notes at: http://studentloanplanner.com/62

The Law School Toolbox Podcast: Tools for Law Students from 1L to the Bar Exam, and Beyond
The Law School Toolbox Podcast: Tools for Law Students from 1L to the Bar Exam, and Beyond
Alison Monahan and Lee Burgess - Law School Toolbox, LLC
270: Looking for Legal Jobs Over Winter Break (w/Sadie Jones)
Welcome back to the Law School Toolbox podcast! Today, we're chatting with our consultant on career-related issues Sadie Jones about advancing your legal career this winter break, which is going to require a slightly different approach than usual, due to the COVID-19 pandemic situation. In this episode we discuss: * The impact of delayed OCI on the winter job search * 2Ls: What can you do to have a productive winter break? * 1Ls: What should you be doing, especially if your first semester hasn't gone so well? * Ways to network from home * When to start preparing your resume and other job application materials * Tips for staying organized and on top of the job search Resources: * CareerDicta (https://lawschooltoolbox.com/careerdicta/) * Trello (https://trello.com/en) * Leaving Litigation (and Leaving BigLaw) (https://thegirlsguidetolawschool.com/leaving-litigation-and-leaving-biglaw/) * Podcast Episode 76: Making the Most of Your Law School Winter Break (https://lawschooltoolbox.com/podcast-episode-76-making-law-school-winter-break/) * Podcast Episode 222: Using Winter Break to Advance Your Career (https://lawschooltoolbox.com/podcast-episode-222-using-winter-break-to-advance-your-career/) * Podcast Episode 241: Tips for Virtual Job Interviews (https://lawschooltoolbox.com/podcast-episode-241-tips-for-virtual-job-interviews/) * Podcast Episode 253: Networking in Quarantine (w/Sadie Jones) (https://lawschooltoolbox.com/podcast-episode-253-networking-in-quarantine-w-sadie-jones/) * Podcast Episode 260: Career Implications of the COVID-19 Crisis (w/Sadie Jones) (https://lawschooltoolbox.com/podcast-episode-260-career-implications-of-the-covid-19-crisis-w-sadie-jones/) * Podcast Episode 262: Researching Law Firms (w/Sadie Jones) (https://lawschooltoolbox.com/podcast-episode-262-researching-law-firms-w-sadie-jones/) * Podcast Episode 266: Preparing for Virtual OCI (w/Sadie Jones) (https://lawschooltoolbox.com/podcast-episode-266-preparing-for-virtual-oci-w-sadie-jones/) * Tips to Help You Make a Successful Adjustment to the Virtual Interview Process (https://lawschooltoolbox.com/tips-to-help-you-make-a-successful-adjustment-to-the-virtual-interview-process/) Download the Transcript (https://lawschooltoolbox.com/episode-270-looking-for-legal-jobs-over-winter-break-w-sadie-jones/) If you enjoy the podcast, we'd love a nice review and/or rating on Apple Podcasts (https://itunes.apple.com/us/podcast/law-school-toolbox-podcast/id1027603976) or your favorite listening app. And feel free to reach out to us directly. You can always reach us via the contact form on the Law School Toolbox website (http://lawschooltoolbox.com/contact). If you're concerned about the bar exam, check out our sister site, the Bar Exam Toolbox (http://barexamtoolbox.com/). You can also sign up for our weekly podcast newsletter (https://lawschooltoolbox.com/get-law-school-podcast-updates/) to make sure you never miss an episode! Thanks for listening! Alison & Lee
32 min
Retirement Answer Man
Retirement Answer Man
Roger Whitney, CFP®, CIMA®, RMA, CPWA®, AIF®
How Do I Stop Feeling Guilty About Success So I Can Enjoy Retirement?
There are so many things to take care of in retirement. It can all feel overwhelming. Many people worry about their jobs, the state of the world, retirement, and their uncertain future. On this episode of Retirement Answer Man, you’ll learn what you can do to ease your worries about the unknown as well as discover the answers to questions from listeners like you. Join Tanya Nicols and me as we answer questions about an early retirement package, what to do when you have a significant portion of your net worth in one stock, and how to use second to die life insurance. What is worry? Worry is a noun that means a state of anxiety and uncertainty over actual or potential problems. It can also be a verb meaning to give way to anxiety or unease. Are you a worrier? Although worry is a healthy thing, oftentimes people allow their minds to dwell on difficulties or (perceived) troubles. There is a fine line between healthy worry and overwhelming worry. The fine line between healthy and unhealthy worry can be hard to walk Just like how exercise creates stress in your muscles and grows them, worry can do the same to your mind. Worry can spur you into action causing you to improve your situation. However, worry taken to excess can be paralyzing. It can cause you to lose perspective so that you can no longer see clearly. You can’t let worry overwhelm you so much that it steals your life away. Listen in to hear what you can do to help ease your worries about the state of the world, life, and retirement. How do you perceive the wealth you have created? It is often said that money is the root of all evil, but this isn’t true. The love of money is the root of evil. Do you feel guilty about the wealth you have created? Guilt is a common theme for many successful people. Many create an emotional attachment to their money. Rather than judging yourself for creating your wealth, use that wealth as a tool. How you use it is important. What will you do with your wealth to create an amazing life? What to do when you have a significant portion of your assets in one stock One listener has ⅓ of her net worth tied up in one particular tech stock. She is looking for some guidance on how to handle this. A great question to ask is: what would happen to your net worth if that stock simply vanished? This question can get you thinking about how much you need to have a good life. Once you have thought deeply about your life then you can be methodical about this asset. Set a number to help guide you and don’t let taxes sway your decision. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN? * [1:40] What is worry? Q&A WITH TANYA NICHOLS * [10:56] How do you feel about your wealth? * [16:52] What to do when you have a significant portion of your assets in one stock? * [22:57] How to balance Social Security, taxes, and an early retirement package * [25:46] Second to die life insurance TODAY’S SMART SPRINT SEGMENT * [30:47] Control your input Resources Mentioned In This Episode Align Financial BOOK - The Daily Stoic by Ryan Holiday BOOK - The Rational Optimist by Matt Ridley BOOK - The Power of Agency by Anthony Rao Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement by Roger Whitney Work with Roger Roger’s Retirement Learning Center
33 min
The Power Of Zero Show
The Power Of Zero Show
David McKnight
Tax-Free Income for Life Preview, Part 3 – The Secret to Mitigating Tax-Rate Risk and Longevity Risk within the Very Same Financial Plan
Today’s episode covers the last secret to mitigating the two most concerning risks of people planning to retire. People are afraid of running out of money before they run out of life. Traditionally the way you can mitigate that risk is by accumulating a lot of money and restricting your distributions to 3% which gives you a statistical likelihood of not running out of money. The alternative is by guaranteeing your income by way of an annuity. Economists say that the ideal way to guarantee an income stream for life involves giving an insurance company a large lump sum in exchange for a steady stream of income for life. There are a number of shortfalls with that approach including a lack of liquidity and what David refers to as the “Mack Truck Factor”. Single premium immediate annuities do not adjust for inflation which means as inflation goes up your spending power goes down. Insurance companies have recognized a number of benefits of having an annuity as well as attempted to address the shortfalls. The solution they’ve come up with is a fixed indexed annuity. A fixed index annuity gives you liquidity on your dollars and the growth of the money in the account is linked to the upward movement of the market. They also come with death benefit features which do quite a bit to mitigate the issues with traditional annuities. The big mistake that most people make is they implement these annuities in the tax-deferred bucket, exposing themselves to the risk of a rising tax-rate environment. Insurance companies provide options to convert that fixed indexed annuity to a Roth IRA but that comes with its own set of problems. In an attempt to avoid doubling your taxes over time you may end up doubling them in the short term. There is another option known as a piecemeal internal Roth conversion that allows you to convert your annuity over whatever timeframe your financial plan calls for. The piecemeal internal Roth conversion eliminates the two greatest risks to your retirement, tax-rate risk, and longevity risk. When you remove those risks off the table, you also take care of the sequence of return, withdrawal rate risk, and inflation risk. Historically, financial advisors will say you can only mitigate one of those two risks. Either you have liquidity and don’t have to worry about longevity or you cover longevity and have no liquidity. The plan outlined in Tax-Free Income for Life allows you to effectively remove longevity risk, along with all of the risks that get magnified as a result of longevity risk, and tax-rate risk all in the same financial plan. If you’re looking for an advisor to help you navigate all the pitfalls that stand between you and the zero percent tax bracket, as well as mitigate both longevity risk and tax-rate risk you can go to davidmcknight.com to get connected with an Elite Advisor. The Power of Zero and Tax-Free Income for Life are companion volumes essential to your financial plan.
15 min
MPR News with Kerri Miller
MPR News with Kerri Miller
Minnesota Public Radio
Debunking pandemic myths
Have you heard about that treatment that completely cures COVID-19? Well, it doesn’t exist. Misinformation about COVID-19 seems to spread as fast as the virus itself and the flow of falsehood is making it even more difficult to curb the pandemic. False claims swirl around the safety of potential vaccines, the usefulness of masks, the effectiveness of treatments, the accuracy of COVID-19 case counts and even around the origin of the virus. A recent study by researchers at the University of Delaware found that a third of respondents agreed with false statements such as “Big Pharma is encouraging the spread of coronavirus to make money.” People who embrace these conspiracy theories were also less likely to say they would get vaccinated or follow public health recommendations. Disinformation flourishes in situations where demand for information is high, but the supply of credible information is low. How can you trust what you hear and what you read? What role does social media play in spreading the rumors? Every Monday at 9 a.m., MPR News host Kerri Miller delves into the science and research of COVID-19. This Monday listeners shared the questionable information they’re hearing and put rumors to the test with a health educator and an infectious disease doctor who know their facts. Guests: * Dr. Nahid Bhadelia is an associate professor of medicine at Boston University School of Medicine and an infectious disease physician at Boston Medical Center. * Lindsey Leininger is a public health educator at “Dear Pandemic” and a professor at the Tuck School of Business at Dartmouth College. To listen to the full conversation you can use the audio player above. Subscribe to the MPR News with Kerri Miller podcast on: Apple Podcasts, Google Podcasts, Spotify or RSS
48 min
Retirement Starts Today Radio
Retirement Starts Today Radio
Benjamin Brandt CFP®, RICP®
BIG Legislation Changes, tiny Portfolio Changes, Ep # 167 BIG Legislation Changes, tiny Portfolio Changes, Ep # 167
Are you worried about what the election means for your retirement portfolio? Many people are tempted to make big changes to their retirement savings to reflect their election concerns. On this episode of Retirement Starts Today Radio, you’ll learn what you can do to your portfolio if you are nervous about the transition. You’ll also hear what the new RMD tables mean and how the Biden proposals could change the entire retirement landscape. Outline of This Episode * [2:12] What do the new RMD tables mean for you? * [4:40] How much is the next Medicare Part B premium increase? * [7:40] Should you make big changes to your retirement plan because of the election? * [11:50] Which Biden proposals could affect you and your retirement? What do the new RMD tables mean for you? Since people are living longer than ever before, the IRS has finally decided to acknowledge these longer lifespans by updating their Required Minimum Distribution tables. According to the longer retirement timeline, retirees can take out smaller mandatory distributions and spread them out over a longer period of time. What does this mean for you? You can expect to see smaller tax bills and larger IRA balances compounding over time. Listen in to hear the details and learn why this new tax table may seem familiar. Should you make big changes to your retirement plan because of the election? Thankfully, we’re not here to discuss politics. You can go just about anywhere else on the internet for that. However, I do want to touch on the changes that may arise due to the election. An election year often brings about strong feelings one way or the other and many people feel that they need to make changes to their portfolio based on what they hear on the news. Just because there is an election doesn’t mean that you should make big changes to your retirement portfolio. It’s a good idea to keep in mind that there may be between 4 and 8 presidents in office over the course of your retirement. Major global policy shifts don’t equal major portfolio shifts Even if there are major shifts in global policy you only want to make tiny shifts in your portfolio. If you listen in I will give you specific examples of what you can do to prepare for the future transition without changing the essence of your portfolio. I do want to clarify that you should never take advice from me or anyone that you find on the internet. Regardless of who is running the country, I want you to have an amazing retirement. Which Biden proposals could affect you and your retirement? One of Biden’s proposals could completely change the retirement landscape. How would your retirement plans change if the Medicare age was lowered from age 65 to 60? At this point, it is just a proposal. Stay tuned in to Retirement Starts Today Radio over the coming months to hear the latest on this Biden proposal as well as his plans for Social Security. Resources & People Mentioned * Plan Adviser RMD tables * Think Advisor Medicare Part B article * NPR article about Biden’s Medicare proposal * CNBC article about Social Security Connect with Benjamin Brandt * Get the Retire-Ready Toolkit:http://retirementstartstodayradio.com/ * Follow Ben on Twitter:https://twitter.com/retiremeasap Subscribe to Retirement Starts Today on Apple Podcasts,Stitcher,TuneIn,Podbean,Player FM,iHeart, orSpotify
16 min
The Podcast by KevinMD
The Podcast by KevinMD
Kevin Pho, MD
Financial tips that resident physicians need to know
"These strategies on how the rich get richer do not only apply to the wealthy. These same opportunities and strategies are open to us as well. If we want to accumulate wealth, or simply keep more of the money we currently have without paying a large portion in taxes, then we should consider following the strategies above. Think about what you are good at or what you like doing and consider a business you could start, product you could create/sell, or service you can render then file it as an LLC (or other business entity). Before you know it, you’ve “started your own business” and can now take advantage of tax rules that allow you to write off many of the expenses you already paid for. If you feel you pay too much in taxes, then meet with a tax advisor or talk to an experienced professional about ways you can lower your taxes. If you’d like to have your net worth increase in value so you can start living the life you’ve always envisioned, then talk to a financial planner and start investing. If you don’t have a financial planner or don’t think you can afford one, then start by putting money aside in your job’s 401(k) plan and investing the money in that account into a low-cost index mutual fund. (If you’re an advanced investor, then start learning about real estate and other active/passive investments.)" Altelisha Taylor is a family medicine resident and can be reached at Career Money Moves. She shares her story and discusses her KevinMD article, "3 ways the wealthy increase their net worth." (https://www.kevinmd.com/blog/2020/08/3-ways-the-wealthy-increase-their-net-worth.html) This episode is sponsored by Elsevier Health (https://www.us.elsevierhealth.com/). Looking to update your personal or professional medical library? Shop Elsevier Health’s Holiday Sale and save up to 35% on your purchase of medical books! Plus, you can take an extra 5% off your order with code KEVINMD at checkout. Take advantage of the biggest sale of the year from Elsevier, the world-leading provider of medical books and reference materials. Shop us.elsevierhealth.com now through December 31.
17 min
More episodes
Search
Clear search
Close search
Google apps
Main menu