In this second hour of the podcast, discover eight ways to create a tax-free income in retirement. Special guest Larry Swedroe joins Joe and Big Al to discuss the downsides of dividend paying stocks and what clients should expect from their advisors.
4:55 “Money is money; if you have money inside your retirement account or outside your retirement account, it doesn’t matter. It’s how it’s taxed is what you need to pay attention to”
8:20 “In order to retire successfully and comfortably, you need the whole story, and taxes are a huge part of the story”
17:50 “[With] the speed of technology, when it comes to medical advancements and everything else, you have to plan ahead for these taxes”
20:00 Start of Interview with Larry Swedroe
22:15 “We do know that whenever you have a high demand for anything, you will drive prices up and in the case of securities, when you drive prices up that looks good in the short term but for new investors, it drives the future expected returns down because you now have higher valuations”
22:42 “Dividend paying strategies used to look like value strategies; so if you own stocks that paid relatively high dividends, they tended to be value stocks. And value stocks have provided higher returns than growth stocks”
28:11 “Diversification, just like your insurance policy, is always working. Sometimes you like the results, and sometimes you don’t”
30:17 “Make sure that you can get in writing from the advisor that they will provide a fiduciary standard of care which requires them to give advice that’s solely in your interest”
30:29 “[Advisors] should be prepared to show you their own personal financial statements…you want the advisor to show you that they’re eating their own cooking”
37:12 “You might want to take a look at a reverse mortgage, get some income from the equity of your home”
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