Winning at Life with Gregory Ricks

The Fed raises the interest rate as expected, and the market pretty much had it baked into the cake already. Mark from Kenner needs help climbing out of a giant hole of credit card debt. Gregory gives Mark a few ways to attack the debt, and recommends against borrowing from his 401k. Gregory elaborates on some strong financial opinions from Stephanie Pomboy of Macromavens. She says the real story...

The summit between Kim Jong Un and Donald Trump was historic for a number of reasons, and you could easily make this case that economics is why this 70 year old Korean War may finally come to a formal end. If peace finally comes, business and trade should get the credit. Learn how to take advantage of your life insurance's death benefit before you die. Gregory explains there's several ways to acce...

Gregory Ricks and James Parker reflect on 8 years of Winning at Life. The show has grown beyond expectations, and we've been able to help some good people along the way. Lebron just lost in the NBA Finals, and he's losing on tax day, too. Gregory reports how Lebron probably took home less than half of the money he makes this year. Mike in Bay St Louis calls in to ask Gregory how much he should cha...

Congrats! It's our 8 year anniversary for Winning at Life with Gregory Ricks. The trustees for Social Security and Medicare release their annual report with projections for the future of our two biggest spending programs. Gregory talks about building multiple streams of income to minimize the effects of possible cuts. When Bruce in New Orleans asked his insurance company for a homeowners policy on...

Warren Buffett quote: "You should leave your children enough that they can do anything, but not so much that they can do nothing." Gregory talks about how you need to train your kids to be ready to handle money. Gregory recommends seeking the advice and training of business coaches that can help you develop these skills yourself. Gregory questions the rationale of having an international trade agr...

Vincent in New Orleans asks Gregory to explain the 1099 issued from his IRA distribution. He wants to know exactly what his tax bill will be for dipping into his IRA. A self-described Whale Whisperer is accused of scamming around 40 investors out of $3.3 million. How did these otherwise successful people get duped by such a strange fellow? Learn how to identify scams, and do some homework on the p...

Scammers continue to evolve with technology, and we explain the rise of synthetic identity theft. The thieves assemble a fictitous name to a child's unused Social Security number, build a record of credit for the synthetic identity, and then cash in. You should think about freezing your child's credit, and keep an eye out for signs of the scam. Gregory explains how the Windfall Elimination Provisi...

Scammers posing as Social Security were busted making robocalls asking you to enter your Social Security number via phone. Another man is busted for cashing in a deceased relative's Social Security checks; this time it's for about 17 years. Does Social Security not have a working system in place to know when people pass away? When the solid jobs report had the Fox Business panel glowing with optim...

GDP growth for the first quarter is revised down a tick. Gregory thinks we can still get the annual GDP up to 3%, but 4% is a stretch. Walmart announces a new plan to pay for employees' tuition. Meanwhile, Gregory reports on the closing of more locations for both Sears and Kmart. The retail evolution is moving swiftly. George in Terrytown asks Gregory if his mom's pension from the state will affec...

A clinic in Scotland is the first in the world to treat an addiction to cryptocurrency. The diagnosis and treatments are based on a similar approach as a gambling addiction, and the comparisons are pretty easy to piece together. Gregory dismantles a common commercial seen on financial channels. The spot is terribly misleading, probably intentionally so, and Gregory exposes what the commercial conv...

What is the financial impact of ABC's decision to cancel Roseanne? A good lesson here is that in the business world, the wrong tweet or Facebook post can be incredibly damaging. Italy's financial world gets rocks as their bond markets melt up. Often when your country's bond yields spike up like this, that signals a default of some sort is heading your way. It may already be contributing to our bon...

As the show approaches our 8th anniversary, we reflect on how the show affects Gregory, James, and Angie outside of the studio. Europe is missing a whole lot of the internet now that the GDPR goes into effect. The European Union has new privacy regulations that will have ridiculous negative consequences across the internet and especially in Europe. Gregory has never shared or sold his email list w...

A New Jersey man gets sent to prison for cashing his deceased aunt's Social Security checks for 19 years. Gregory explains the process on how to handle some of the financial issues in the death of a loved one. If this guy can get away with it for 19 years, how many other Social Security checks are going out for deceased people? Do we not have better mechanisms to catch this? Louise in Metairie is...

Do YOU know when you should turn on your Social Security retirement benefit? People over age 50 scored pretty badly on a Social Security survey, so don't feel bad if you don't know. Gregory explains some of the basics on figuring out when you should turn on Social Security. Now that the kids are out of school, Eddie in Thibodaux has an extra $10k a year to invest. Eddie asks Gregory how the money...

She was fed up with working, and asked Gregory help her retire at the end of the year. Gregory sets up a retirement income plan that's over $50k a year, including Social Security, that will be virtually untaxed. The Guided Planning System shows where she will be financially throughout retirement. No matter what your age is, go sign up for your Social Security account now at SSA.gov. Setting up you...

What happens if the rules on your employer's retirement plan don't match up with the rules of a regular 401k or IRA? Gregory explains how to tell which rule applies to your situation. The proportion of people over 65 still in the workforce is booming. Much of it is because we are healthier, maybe we need the money, and also because employers can't live without the experience Boomers bring to the t...

Gregory's flight had an aborted landing at the New Orleans airport, and they had to go wait out the bad weather in Jackson. It's a pretty harrowing experience, but the airline seemed to handle it OK. PT Barnum's financial advice from the 1880s stands the test of time well. Gregory and James discuss some of the timeless pieces of financial guidance, starting with: live below your means. JB in Covin...

How much does it REALLY cost to own a home in retirement? While it can be nice to have your home paid off in retirement, it may be better to have the cash on hand instead of plowing it into your house. An expert advisor on retirement planning admits to messing up her own distributions from her IRA. When it was time for Required Minimum Distributions, she opted for a Qualified Charitable Distributi...

Is early retirement really worth financial hit? Gregory and James review a few scenarios that could help your money last if you decide to retire early. Cutting expenses and getting even a small income from a passion project can be the boost you need to stop working early. Gregory gives the real truth behind Peak Gold, and explains how history and technology show that we still have a long way to go...

The Supreme Court strikes down a ban on sports betting, making it legal in Mississippi! Before the decision to allow sports betting came down, MS had already passed the legislation necessary, and Gulf Coast casinos could be taking bets by football season. A Tesla car on autopilot smashes into a stopped fire truck at 60mph. Elon Musk has an interesting spin on the accident. Gregory warns that autop...

What websites does Gregory prefer for financial resources and business news. Yahoo Finance was one of the best financial hubs for a long time until Google Finance showed up. However, Google Finance has been through some changes over the last year that hasn't helped their standing. Ultimately, Gregory relies on market information most people don't have access to. Gregory and James discuss some othe...

Women spend an average of 44% of their adult life out of the work force. Men average just 28% of their adult life out of the work force. James reports with more audio of the Google AI phone calls. Gregory gives his thoughts on where this new technology is going, and disagrees with the theory that personal car ownership will go away. Gregory is thinking about holding a one night class on Social Sec...

Taxes are on sale right now. Knowing that taxes just got lowered AND are likely to go up in the future, how do you take advantage of taxes being on sale right now. Looking at what other countries like Italy pay for Social Security taxes is incredibly high. Lou in Covington asks Gregory about converting a Traditional IRA to a Roth IRA to avoid Required Minimum Distributions. Brian in New Orleans is...

In stressing the importance of knowing your risk tolerance, James relays his parable on gas station food. A survey shows there's 20 things rich people do daily that poor people do not. Gay in Hammond wants to know how working for the state as a teacher in both Louisiana and Mississippi affects her Social Security retirement benefit. Lesha Nugent Freeland, Realtor of the Total Wealth Authority, ans...

Maestro Dennis Assaf reflects on the legacy of the Jefferson Performing Arts Society as their 40th season comes to a close. Hear James and Gregory run through the list of regular things rich people do that poor people do not. Hear highlights from Total Wealth Authority members: Jude Heath, Wes Blanchard, and Dwayne Stein, as they help callers. http://www. WinningAtLife.com