Presidents can bully the Federal Reserve, but they can’t set central bank policy. Joe Anderson, CFP® and Alan Clopine, CPA explain how the Fed impacts overall markets in YMYW podcast 55. They also discuss a recent article covering three reasons why you should ignore Hillary Clinton and Donald Trump’s economic promises.
00:00 – Intro
03:06 – “The president doesn’t control the Federal Reserve system. The way the Fed was set up was quasi-independent and answers to Congress on monetary policy.”
07:56 – “Stocks are priced based upon future predictions of what we all think the future’s going to be.”
12:41 – “The moment you turn 50, you can put more into your retirement plans, and then that can give you a better tax benefit via deduction because you can shelter more money via tax or have more money grow tax-free depending on what planning you’re doing.”
15:36 – “Any time you pull money out of a 401(k) or IRA, you have to pay income taxes – federal and state.”
19:32 – “You actually have more control over how much you pay in taxes in retirement, more so than any other time in your life.”
22:43 – “There are always crises, whatever they might be, but we get through them.”
25:38 – “If there’s a lot of inflation and everything has gone up in price, gold will probably go up in price too.”
29:58 – “We are a fee-only Registered Investment Advisor; there are no commissions generated to our firm, we act as a fiduciary 100% of the time.”
32:55 – “If you don’t sign up for Medicare in a timely manner, then when you do sign up you have to pay more for Medicare for the rest of your life.”
37:03 – “The more income that you make, the higher the premium you will have to pay.”
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IMPORTANT DISCLOSURES:
Pure Financial Advisors is a registered investment advisor. This show does not intend to provide personalized investment advice through this broadcast and does not represent that the securities or services discussed are suitable for any investor. Investors are advised not to rely on any information contained in the broadcast in the process of making a full and informed investment decision.
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC, a Registered Investment Advisor.
• Pure Financial Advisors LLC does not offer tax or legal advice. Consult with your tax advisor or attorney regarding specific situations.
• Opinions expressed are not intended as investment advice or to predict future performance.
• Past performance does not guarantee future results.
• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.
• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. As rules and regulations change, content may become outdated.
• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
CFP® – The CERTIFIED FINANCIAL PLANNER™ certification is by the Certified Financial Planner Board of Standards, Inc. To attain the right to use the CFP® designation, an individual must satisfactorily fulfill education, experience and ethics requirements as well as pass a comprehensive exam. Thirty hours of continuing education is required every two years to maintain the designation.
AIF® – Accredited Investment Fiduciary designation is administered by the Center for Fiduciary Studies fi360. To receive the AIF Designation, an individual must meet prerequisite criteria, complete a training program, and pass a comprehensive examination. Six hours of continuing education is required annually to maintain the designation.
CPA – Certified Public Accountant is a license set by the American Institute of Certified Public Accountants and administered by the National Association of State Boards of Accountancy. Eligibility to sit for the Uniform CPA Exam is determined by individual State Boards of Accountancy. Typically, the requirement is a U.S. bachelor’s degree which includes a minimum number of qualifying credit hours in accounting and business administration with an additional one-year study. All CPA candidates must pass the Uniform CPA Examination to qualify for a CPA certificate and license (i.e., permit to practice) to practice public accounting. CPAs are required to take continuing education courses to renew their license, and most states require CPAs to complete an ethics course during every renewal period.
