Check out my video on Common Life Insurance Products: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-d1U14QrbapU.html Check out my video on What You MUST Know Before Buying Life Insurance: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-9ui5Rz2Cca0.html Check out my video on 529 Plans & Whole Life Insurance: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-LEOYo_T74ZY.html Check out my video on How To Change Your Money Mindset: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-pDy8U8tDOxU.html
great content, thanks Brian! I am into tax free income stream, if i have maxed out 401k (including after tax with mega backdoor), backdoor roth, for remaining after tax dollars, do you think IUL/VUL is better or some sort of ETF holdings (both DIY or robo like betterment) for investing? I am a firm believer of future tax going higher for unfunded liabilities, but have to take pretax 401k to get tax benefit now, and having both pretax and roth offers some additional planning opportunities like roth conversion in retirement or charitable giving for tax deduction. Thanks.
Hi Cong, great job with maxing out your 401k contribution! Keep in mind the IRS has recently increased the contribution limit for 401k’s in 2022 to $20,500. It sounds like you would want to have the excess cash be liquid based on what you're saying, either ETF’s or other non qualified investments might be better than an IUL/VUL. Life insurance should be considered a somewhat illiquid asset unless it's an emergency or to supplement retirement in the future. But it truly is dependent on your financial/family situation which makes the most sense and whether you already have life insurance coverage or not.
@@FinancialFitness8 Thanks for the reminder, yes, I am aware of the changes, plan to max out that and also the after tax cap with in plan roth conversion while we still have it, following closely about BBB plan about retirement provisions, Mega backdoor has been on and off starting 2022, and then seems back on starting 2029. I am wondering if you can give some comments about the final version and how it is impact us once the bill is settled. Thanks.
Hello Bryan thank you so much for all the helpful videos. I'm a subscriber. I have a question about the wash sale and I would really appreciate your reply on this. I'm a day trader, and I frequently bought and sold shares of the same stock within 30days window. For example, I accumulated a total loss of -$1000 on ABC stock by day trading so far this year up until 11/29. Then I opened up more positions (500 shares) on 11/30. I know that the accumulated -$1000 loss on ABC stock cannot be deducted from the overall net gain (income tax) since I opened up a new position. But what if I do not buy a single share of ABC stock for the next 30 days and just hold it for years to come? Can my previous accumulated -$1000 be deducted from the overall net gain this year? Thank you so much.
Hi Jae, thanks for watching and subscribing, I appreciate it. To answer your question, there was a wash sale caused by repurchasing ABC stock again on 11/30. That position would have the cost basis adjusted to account for the -$1k loss from the wash sale. Even if there are no more shares bought of the same stock within 30 days, that loss would not be able to be deducted in the current calendar year. That loss from the wash sale would be carried over into the tax year that the position is eventually sold. You should also confirm with your accountant for any specific tax guidance. But if the net result from the trade was intended for the current calendar year, the position would have to be sold at either a gain or loss in the current calendar year. Hope this helps!
Thank you for another informative video. So I've been doing lots of research on life insurance and initially considered buying an IUL. But after watching LIFE180 & BetterWeath saying IUL is a scam. They instead promoting getting a conversion term policy with paid up addition to build CV and ultimately DB. Have u seen any of their videos on this topic? What do u think of this approach and what do u think IUL being a big scam? Appreciate your input.
I wouldn't say IUL is a scam, but it has to be designed properly. The most common issue with IUL is that it's over inflated on the illustration assuming high rates of returns so they look better than they should when presented to people. With that said, I think the best options are term+convert to a whole life in the future or GUL. There are scenarios where the other life insurance products are effective, but in most situations term, GUL or whole life are efficient, effective and easier to manage over time.
I’m subscribed! Love your car videos too! Yes hopefully that’s a good idea for the future I’m a 22yo California resident and can’t find much information on RU-vid on this topic “sport betting taxes in California” hopefully you can help Brian!
@@FinancialFitness8 Hey Brian! really enjoyed your 2 videos on the arcteryx jacket reviews... very thorough, detailed and was greatly informed! question though... what size did you have for the atom lt hoody? i knew you mentioned you were a small but i was wondering what were your stats? height, weight, etc... (if you dont mind) id highly appreciate it because im looking to get this same model but im unsure about the sizing haha... if you can recommend me a size what would u say? im 5'7 and 143 lbs... im looking to wear this jacket for the same purpose you are using... running errands and casual wear, not for performance, hiking or climbing of any sort if that helps... (i feel like i would be a small but not 100% so asking this question) thanks! subscribed already!!
Hey Alec, glad you enjoyed my videos! I'm basically exactly the same stats as you, except I'm around 125 pounds. I can't see why a small would not fit you as well. I actually have quite a bit of extra room inside the Atom LT, I'm not swimming in it obviously but there is a waist drawcord to help adjust the bottom at least. I'd recommend trying on the latest model at a store if you’re still not confident in the sizing, they didn't change the fit between the versions much except in the hood and the way the waist tightens. But sounds like 90% chance small should be fine for you. I will probably trade in my Atom LT once the insulation starts to become ineffective in about 8-10 years for a new 1 if needed back to Arc'teryx. It's just too useful to not have it!
