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Josh Scandlen Podcast

Anchor FM

Helping YOU Understand Personal Finance!

Helping YOU Understand Personal Finance!
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United States

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Anchor FM

Description:

Helping YOU Understand Personal Finance!

Language:

English


Episodes

Sean Bailey from Horsesmouth Interviews Me About Tax Planning

5/19/2019
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Here's the link if you want to read the article/transcript from this interview. https://www.horsesmouth.com/article.aspx?a=95392 Send in a voice message: https://anchor.fm/josh-scandlen-podcast/message Become a supporter of this podcast: https://anchor.fm/josh-scandlen-podcast/support

Duration:00:40:11

Why I Am Upset With the Financial Industry - And YOU Should Be Too!

4/30/2019
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================================ Get the PDF version of my Tax Bomb book for free follow this link. https://mailchi.mp/7e528cd3cfb3/taxbomb Be on the lookout for my 4th book coming out soon, YOU CAN RETIRE ON SOCIAL SECURITY! If you like what you see, a thumbs up helps A LOT. It tells YouTube that people are engaged and so the Youtube algorithm will show the video to others who may be interested in the content. So, give me a thumbs up, please! Don't forget to SUBSCRIBE by...

Duration:00:16:13

My CPA Says My $650k IRA Is Not Close to Enough To Retire!

4/30/2019
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Time for a new CPA. Guy didn't even ask what her expenses were!!! How can you say ANYTHING about someone's ability to retire without knowing the most important thing regarding retirement??? Time to hang up the pencil, sir! ================================ Get the PDF version of my Tax Bomb book for free follow this link. https://mailchi.mp/7e528cd3cfb3/taxbomb Be on the lookout for my 4th book coming out soon, YOU CAN RETIRE ON SOCIAL SECURITY! If you like what you see, a...

Duration:00:08:48

Karen Has A $1Million IRA - Now What? (Social Security at 66, 70)

4/30/2019
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In this series of videos we're going to tackle what someone can do when they have $1 million in an IRA. We'll start with Karen and Ken, Married Filing Jointly. WE'll have them take Social Security at 66, 70 and 62 and look at their taxes due, their income, expenditures and their ending net worth. Then we'll see what things look like when they start Roth conversions. Finally, we'll make Karen a single taxpayer right out the gate and see what that looks like. So, buckle up, it's...

Duration:00:18:51

Well, I Did It! And Am VERY Proud of Myself Too

4/30/2019
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MRI went down without a hitch...but does bring up some other stuff to talk about. Send in a voice message: https://anchor.fm/josh-scandlen-podcast/message Become a supporter of this podcast: https://anchor.fm/josh-scandlen-podcast/support

Duration:00:17:42

Why Karen Should Take Social Security at 62

4/30/2019
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This is the GRAND Conclusion of our 6 part case study on Karen and Ken. We lay it all out on the infamous white board and use the PVC pipe to point out the BEST strategy for Karen and Ken regarding when to take Social Security and whether they should convert assets to Roth IRAs. If you haven't watched the previous 5 videos they are all in the playlist. Send in a voice message: https://anchor.fm/josh-scandlen-podcast/message Become a supporter of this podcast:...

Duration:00:11:56

Can You Retire on Less Than $300,000?

4/30/2019
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Danielle Roberts owns the Boomer Benefits Youtube channel, Facebook page...and , course, actual business. She reached out to me a few weeks ago so I could share some thoughts with her audience that you don't need MILLIONS to retire. Unfortunately, the reach of Suze Orman and others is wide and deep and so many, many people are grinding away, at their crappy, old jobs, for fear of running out of money. So, they never liberate themselves. Sad....just sad. Here's all of Danielle's...

Duration:00:34:46

Medicare Q&A With Danielle Roberts from Boomer Benefits

4/30/2019
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Medicare...ahhhh harder than rocket science. Medicare makes Social Security planning seem like you're on the beach watching the kids play. But thankfully, there are people who know a thing or two about Medicare. Danielle Roberts is one. And in this video we interview her about all things Medicare. ================================ Get the PDF version of my Tax Bomb book for free follow this link. https://mailchi.mp/7e528cd3cfb3/taxbomb Be on the lookout for my 4th book coming out...

Duration:00:47:23

Talking Taxes, Business, HSA's etc. with Mark Kohler, CPA, JD

3/27/2019
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In this episode I chat with Mark J. Kohler, CPA, JD. You're going to get a lot out of this episode, especially if you are interested in all things taxes and small business. Get Mark's books here. https://amzn.to/2HXmEa6 Remember if you buy through my link you are supporting the podcast. I am grateful to you. You can subscribe to Mark's Youtube channel here too https://www.youtube.com/user/MarkJKohler Send in a voice message: https://anchor.fm/josh-scandlen-podcast/message Become a...

Duration:01:05:06

Health Care Costs Will Bankrupt Us All!!! Ummmm. No...

3/27/2019
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Medicare does NOT cover long term care costs. Did you know that? Probably not. I bet you did know, though, that you're going to spend a TON of money on health care in retirement. Fidelity for instance says you're going to spend $275,000 in costs on health care and that's BEFORE you even visit a long term care facility. And I can see it now... We hardly have enough in my retirement account to put food on the table, and now Fidelity and a lot of other firms are saying we're going to need...

Duration:00:33:30

Borrow From Your 401k Or Finance A Vehicle?

3/27/2019
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Should you borrow from your 401k to finance a vehicle? In this video we model scenarios as to when it makes sense. First thing to understand is how a 401k loan actually works. You can borrow up to 50% of your balance or $50k, whichever is less. So if you have $10k in your 401k, you can borrow $5k. If you have $50k in your 401k, you can borrow $25k. If you have $150k in your 401k you can borrow??? That's right, $50k. Good job! So, let's say you have $50k in your 401k and are...

Duration:00:19:43

How TEXAS Taxes Retirees

3/27/2019
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Texas is such a great state. Southern, Mexican, Cajun, German culture all thrown into one place. Plus the diversity in landscape. Arid in South Texas. Green rolling hills in the east. Deserts, beaches, mountains. Can it get any better? Absolutely fantastic. Just to set the record straight, there "ain't no saguaros in texas" https://www.youtube.com/watch?v=mg5VwtODOJQ. You need to go to AZ to see those. But taxes in Texas are not nearly as favorable as one would think. Yes, no income...

Duration:00:13:26

How TENNESSEE Taxes Retirees

3/27/2019
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Tennessee is one of the few states with no income tax. So, right there alone the good folks in Tennessee are going to be taxed very favorably when it comes to retirement. However, sales in Tennessee is the second highest in the nation, clocking in at 9.46% on average when you factor in local sales tax. But, a high sales tax is the only sore spot for retirees in Tennessee because property taxes are also among the lowest in the country at .75%. Factor in Tennessee's lower median home...

Duration:00:09:31

How PENNSYLVANIA Taxes Retirees

3/27/2019
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Pennsylvania is very good to its retirees in terms of the taxes they pay. In fact, ALL retirement income is excluded from taxation! So, just say you have $40k in Social Security and $60k in IRA, pension and 401k distributions. You will pay 0 in tax. That is a big, fat Goose Egg, my friends. Now, you may think PA has a high sales tax. And you'd be wrong. The state plus local sales tax rate puts PA in the bottom third of all the US for sales tax. Lastly, the property tax rate is...

Duration:00:15:30

How GEORGIA Taxes Retirees

3/27/2019
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Georgia taxes for retirees are among the lowest in the nation. In fact, Georgia ranks in my top 8 for most friendliest towards retirees! Georgia is even more tax-friendly than its neighbor to the north, Tennessee even though Tennessee has no income tax. Weird right? And this is a perfect example of the need to look beyond just the states with no income tax as a place to retire that is tax-friendly. For example, in GA, if you are married and have income up to $130k, there is NO...

Duration:00:18:54

How Florida Taxes Retirees

3/27/2019
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While Florida has no state income tax, residents there still pay taxes in other ways. But the overall burden is low relative to most other states. Property taxes are about 1% of assessed value. But don't let that percentage number seem high. The median value of a home in FL is all of around $150k. So while other states, say California, has a lower property tax rate, the median home values there are 3 times as large as in FL. Thus, in CA even with a lower rate, their residents pay more...

Duration:00:11:14

Flemlo Raps Talks Football, Growing a Youtube Channel and Life Lessons

3/22/2019
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If you want the best football channel on the internet, FlemloRaps is for you. Find his channel here. https://www.youtube.com/channel/UCazhpToa5Z07lgnUL6fYdEw But more than just football, Flemlo talks about all sorts of things in each video, life lessons in particularly. Just an amazing channel and human being. Listen to his story and get motivated to get out of your crappy old job to do what you love with this one life you have. Send in a voice message:...

Duration:01:22:00

How To Evaluate Mutual Fund Fees - (Revolutionary FREE Tool)

3/22/2019
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Listening to the Meb Faber Podcast while mowing my lawn this afternoon and he mentioned this website called FeeX.com. FeeX is a site you can go and for FREE type in your fund holdings, even link your account if you’re so inclined. Their algorithm will then analyze your funds PLUS a list of comparable funds that are a whole lot cheaper. It’s crazy! And it’s awesome! For instance, I typed in USMIX, which is USAA’s Extended Market Index. Out came a bunch of other funds, exactly like it,...

Duration:00:24:56

Live in Maryland - Do NOT Rollover Your 401k, 403b or TSP!!!

3/22/2019
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If you are planning on retiring in Maryland, do NOT rollover your employer sponsored retirement plan, 401k, 403B, 401a, 457, and TSP unless you want to pay more in tax. And when I say more in tax, I mean much, much more. Maryland tax law allows you to exclude $29,900 from your employer sponsored plan once you are over 65 years old, per taxpayer. Which means a married couple could exclude nearly $60k from taxable income. Maryland also excludes your entire Social Security income from...

Duration:00:17:34

The #1 Thing To Do To Reduce Retirement Expenses

3/22/2019
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I'm about to share with you the simplest strategy you'll ever hear on how to reduce your retirement expenses. Are you sure you can handle this? Well here it is... MOVE! Yup, I said it. Move! If you're in a high expense county move to a lower expense county. If you're in a high expense state move to a lower expense state. Mind you, I said this is the simplest thing you can do to reduce your retirement costs, but I did not say it was the easiest thing. Moving is a hassle, no two ways...

Duration:00:14:34