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Breaking news: Experts in media are often wrong!

Air Date: Mar 10, 2018

Bob and Andy learn a valuable lesson from Shark Tank: the experts are often wrong! Even though the show is strictly for entertainment, the lesson applies to news and financial media. But how can investors separate a personalized financial plan from the noise and bombardment from fear-mongering TV pundits, breaking news, and even advertising? Also, the guys look toward two important deadlines fast-approaching on the financial calendar: required minimum distributions (RMDs) and tax day.


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Experts in media are often wrong! – As it continues racing Apple to become the first TRILLION-dollar company, Amazon made the news for one of its recent acquisitions, which everyone missed, including the so-called “experts” on the Shark Tank TV show. The financial media is full of so many experts, pundits and talking heads that it’s hard to see the line between entertainment and education. Bob and Andy dive into what this means for investors and explain the importance of having a fiduciary on your side.

Alphabet Soup: IRAs, RMDs, and the IRS – Phil writes the show asking about converting a Traditional IRA to a Roth, which leads to an additional conversation about RMDs. The deadline for this year is quickly approaching so the guys dive into RMDs: what they are, which accounts they affect, and how to avoid one of the worst penalties the IRS can impose.

Full Interview: Ed Lyon – Author, speaker, and and tax guru Ed Lyon joins the show to talk all about helping you minimize your tax bill with his unique approach of “red light, green light.” Ed explains the importance of connecting your accountant with your financial advisor and how to get both working toward the same goal. Plus, Ed shares a crazy story about how he was dubbed “America’s Funniest Tax Guy” by Roseanne Barr.

Ask Andy: Hybrid Retirement Income Annuities – Due to the market pullback and uptick in volatility lately, it seems like insurance companies can smell fear and are trying to capitalize on it with high cost products. John from Illinois calls the show curious about one such product, but Andy reminds us to have a double dose of skepticism when it comes to annuities.

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