Gary Allen on Business – Sunday, March 6, 2016 – Podcast Now Available

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So many questions about investing and retirement…

Common Questions I Often Hear About Investing…

Is it a good time to be in the market? What about timing the market? When is a good time to get in or get out of the market?

All of these questions are somewhat similar because they are asking if I have some kind of ability to know in advance what it going to happen. Unfortunately, I don’t have that power and by the way nobody else does either. Although Andrew Bogut of the Warriors predicted a Curry 3-pointer before he dropped one in… but aside from that, no one has the ability to predict the future with any certainty.

Later in the program, I cover the total wealth equation, which is a combination of human capital and financial capital. If you can understand this basic concept, it provides you with a much clearer understanding of the trade offs in life between spending and saving.

Finally, I spend time discussing how Wall Street and most firms have been wrong about your number for so long. Most financial firms talk about building wealth and reaching for some big number. That number represents a nest egg of wealth. However, for retirement, the real number should be income. People need an income to survive. Wealth is not tied to inflation or retirement and is a difficult concept for people to understand. Next week on the program, I will dive deeper into this important concept.

I hope you enjoy the program this week. As always, thank you for listening to my program on KNBR.Thanks to my great product Justine for always doing a great job.

If you have any questions or would like to contact me, email is usually the best gallen@prudentllc.com or you can try to call, but I am often unavailable 916.436.8331.

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Gary Allen on Business, Sunday February 21, 2016 – Podcast Now Available

IRS Scam Danger Sign
Internal Revenue Service Provides List of Top Scams to Watch Out For

IRS Issues Annual Tax Scam List

Unfortunately, there are a lot of bad people out there who like to take advantage of others. Tax scams are something that happen throughout the year but especially during tax season. The IRS provides a list of 12 top scams for people to be on the lookout for. Please pay special attention to older friends and relatives who might be more susceptible to falling for scams.

On the program this week I spend the first half of the program going through the annual IRS list. There are some common ones on the list but some others that you may not have heard of.

Later in the program I cover some rollover IRA rules that could catch you or your adviser by surprise. If you are not aware of it, the rollover rules changed dramatically recently and you do not want to get caught up by them. I also spend some time warning you about the very high commissions often associated with rollover business by advisers and insurance agents.

Finally, I spend the last part of the program talking about the recent volatility in the first two months of 2016. I put the recent price activity in perspective to determine if it is unusual or uncommon. You might be surprised by what I found compared to historical financial market volatility.

As always, thank you for listening to my program. If you ever have a question you can email me at gallen@prudentllc.com. All the best – Gary

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