Joe and Al start off this second hour of the podcast by discussing the fiduciary responsibility, stressing the importance of choosing an advisor who will put his or her interests after the client’s interests. Find out how to become more diversified with your investments and learn different claiming benefits if you were to lose a spouse prematurely.
6:08 “The [financial advising] industry as a whole has to gravitate toward fiduciary at some point; it’s so logical but logical doesn’t always win. In this case it’s because of lobbyists, industry fighting and the money being made by those who sell commissioned products”
11:42 “When you invest in a stock, you’re participating in the future growth and earnings of profitability of a certain company”
16:01 “Where people lose money is when they start selling their bonds prior to maturity as interest rates fluctuate”
18:18 “This is the third longest bull market in U.S. history”
23:11 “[True or False] If my spouse dies, I will continue to receive both my own benefit and my deceased spouse’s benefit”
33:16 “A lot of California workers are subject to the GOP (Government Offset Provision”
35:13 “You can claim a widow or widowers benefit at age 60, which is a little bit different from your retirement benefit which is age 62”
36:18 “There are some different moves and maneuvers for if you lose a spouse prematurely; you want to make sure that you know the rules”
38:12 “It’s not just how much you’ve saved, it’s what you do with that money that counts”
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