487-Friday Q&A: Should I Use a Whole Life Insurance Policy as My Retirement Bridge, Should I Concentrate All of My Investment Accounts With One Manager
On Friday's, we do Q&A for our Patrons! Today, we cover:
- Should I Use a Whole Life Insurance Policy as My Retirement Bridge?
- Should I Concentrate All of My Investment Accounts With One Manager?
Joshua
- I forgot to mention at the end of the discussion...if you sign up for a free Personal Capital account with this link, I get a small commission. www.radicalpersonalfinance.com/personalcapital
- IRS instruction on avoiding the early distribution penalty: https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-tax-on-early-distributions
- Here are the call-in instructions for next week's special call-in shows. httpshttps://twitter.com/JoshuaSheats/status/913854177721376768://twitter.com/JoshuaSheats/status/913854177721376768
486-Ignore the Republicans...What Do You Think Is the Right Approach To Income Taxation and Why?
I feel like I owe it to you to keep you semi-current on the state of tax policy in the USA. But, it's too early to have any serious details about the current Republican proposals.
I thought instead we could have a useful philosophical discussion about taxation. My challenge to you today is to answer these questions, for yourself.
- Do you believe that a civil government has the moral right to tax an individual's income? Why or why not?
- Do you believe that the US civil government has the constitutional right to tax an individual's income?
- If you believe that a civil government does have this right, how much of a person's income can they claim? What's the right number and how would you know?
- Do you believe that everyone should be required to pay income taxes?
- Do you believe that some people should be treated differently than others and so be ordered to pay a different rate of income tax than others? Why or why not?
- If so, how would we determine who should be treated di...
484-How Should I Handle a Sizable Gift From My In-Laws?
Today's question involves a generous financial gift from an in-law. How should this listener handle it to make sure it's a blessing and not a curse?
Joshua
- Support RPF on Patreon: www.radicalpersonalfinance.com/patron
483-This Too Shall Pass: Keep Pressing Forward
I'm just wrapping up a week and I've been off the mic for all of it due to being sick.
Wanted to share with you a short motivational monologue to encourage you to keep pressing forward in the challenges you're facing today.
This too shall pass.
Joshua
482-The Equifax Data Breach: Background, How It Affects You, and the Minimum Steps You Need to Take to Protect Yourself
Today we tackle the Equifax security breach. This is the most damaging release of personal information ever. And you need to take it seriously.
You must assume that you have been affected. At this point, I see no reason to even trust the official Equifax website. Here's why.
- Clark Howard's excellent credit freeze guide: http://clark.com/personal-finance-credit/credit-freeze-and-thaw-guide/
- Another excellent one by the Justin Carroll and Michael Bazzell: https://privacy-training.com/CreditFreeze.pdf
- I forgot to mention this on the show, but here's a link for those of you who are readers of the resources. The IRS seems to use social media to find people committing tax fraud.
Source: http://taxprof.typepad.com/taxprof_blog/2017/08/the-irs-is-mining-taxpayer-data-on-social-media-in-violation-of-federal-privacy-law.html - The official Equifax response website: www.equifaxsecurity2017.com
- Why the Equifax breach is possibly the worst leak of personal information ever.
- What should y...
How we Fared in Hurricane Irma (personal)
Hey Radicals!
Thank you to so many of you who have inquired of our health and safety following Hurricane Irma.
Here's my personal report for you!
Short version: we are well. :)
Joshua
481-Where Should I Keep My Emergency Fund?
I was inspired to do this show by watching a recent conversation thread in the RPF Facebook Group about where to store your emergency fund.
I thought it'd be fun to share with you the things I think about with regard to emergency fund storage.
Enjoy the show!
Joshua
480-Hurricane Irma Musings: The Thin Veneer of Civility and the Thick Adjustability of our Modern Shipping System, Storm Preps, and More
I've been busy today preparing for Hurricane Irma here at the Radical Personal Finance Global Headquarters.
At the moment, the National Hurricane Center forecasts the eye of the storm to pass squarely over HQ.
So, I thought I'd record a podcast and share a few things with you:
- Based on watching the Hurricane Irma frenzy, I'm convinced that "societal collapse" scenarios are plausible. I learned this at Costco yesterday.
- I'm also convinced we live in the greatest time to be alive and that there are so many tremendously powerful companies who are laser-focused on serving their customers. I learned this at Costco today. And from reading this article: https://www.linkedin.com/pulse/inside-story-what-took-keep-texas-grocery-chain-running-chip-cutter
- The final 20 minutes of the show involves an off-the-cuff discussion of practical hurricane preparation if you decide to stay put through a storm.
Gotta run! Lots to do...
Joshua
479-Friday Q&A: What Should a New Expatriate Do With Their Investment Money, What To Do With an Old Pension, How Should a Newlywed Approach the Rent or Buy Question
It's Friday! On Fridays we do a live Q&A show. Today we cover:
- (2:30) What Should a New Expatriate Do With Their Investment Money?
- (18:30) What To Do With an Old Pension?
- (26:40) How Should a Newlywed Approach the Rent or Buy Question?
If you'd like to join me for a future Q&A show, sign up to be a Patron at www.radicalpersonalfinance.com/patron
Joshua
478-The Utility and Morality of Price Gouging
Whenever there's a natural disaster, we have various articles on price gouging's lamentability, to wit, its harmfulness and illegality.
But, is it really bad?
I say not.
"Price gouging" (or, more accurately stated, the adjustment of market prices to meet changing demand) has tremendous utility for the well-being of all involved and is absolutely upright, moral, and ethical.
Of course, this guy says it's wrong, morally and economically. I deal with his "arguments" in the show.
Joshua
- Support RPF on Patreon: www.radicalpersonlfinance.com/patron
