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Episode 26 - Risks in Advanced Age [CFP CE Credit Eligible]

We invited not one, but two academics in the field of financial planning to a panel discussion. Drs. Nathan Harness and Michael Guillemette joined us to talk about a paper Dr. Guillemette just finished up on the subject of aging clients. There's a lot of research on the subject of how client behavior changes as they reach more advanced years, and Michael took on the herculean task of trying to make sense of it all.

In this episode, we walk through the sections of the paper, with Ben and Roger offering up examples from everyday practice in the field of financial planning. Some elements of the research rung true, while other elements got a little pushback. That's right! This wasn't one of those panel discussions where everybody just agrees with each other.

If you're interested in checking out the paper we discussed, here is a copy. NOTE - This was not the final draft that went to print! We discussed a version that was not quite final.

Risks in Advanced Age - Michael Guillemette

(We'll link the final version of the paper once it's published.)

For more information on our panelists:

Dr. Michael Guillemette

Dr. Nathan Harness (Also a guest on Episode 13!)

Episode 25 - Financial Journalism, with Bob Veres

Bob Veres is one of the most easily recognized writers and commentators in the financial advisory world, and we were lucky to chat with him on the evolution, current state and (dare I say it?) future of financial journalism.

Bob tells us his story, from when he was a freelance writer in Atlanta known as the "writer of last resort," to his ascendancy to editing and resurrecting both Air Cargo and then The Financial Planner (known now as simply Financial Planning), and then finally to the creation of his Inside Information newsletter and other services.

Stay tuned to the end, when Bob Veres definitely says that Ben and Roger are, "...not doofuses." From your lips to God's ears, Bob!

Learn more about Inside Information and Bob's annual conference (Insider's Forum) at www.bobveres.com and the Insider's Forum website, and follow Bob on Twitter (@BobVeres).

Episode 24 - Required Minimum Distributions From Qualified Accounts [CFP CE Credit Eligible]

Our first ever "by request" episode! Dave O'Brien from Evolution Advisers challenged us some months ago to do an episode on required minimum distributions from qualified accounts, and after hemming and hawing we finally ran out of excuses. So here it is!

Join us on a whirlwind tour of the exciting world of RMDs, as we touch on:

  • How to calculate RMDs, including rules about determining account balances and participant ages
  • Different rules on when RMDs start, depending on employment status and type of qualified account
  • Qualified Longevity Annuity Contracts (QLACs) and Qualified Charitable Donations (QCDs).
  • Rules on post-death RMDs for a variety of beneficiaries
  • Challenges faced by beneficiaries who inherit Inherited IRAs

Neat Links:

  • Natalie Choate's Life and Death Planning for Retirement Benefits (7th Edition) is the end-all/be-all of all things RMD related. You can order it at Ataxplan Publications.
  • The IRS provides a shockingly good reference website document for RMDs:
  • Michael Kitces has written on a number of topics we touch on in this episode on his blog . Additionally, the most recent copy of his Kitces Report newsletter dealt exclusively with Required Minimum Distributions

Episode 23 - The DOL Fiduciary Rule with Cindi Hill (Hill Compliance Advisors)

The Department of Labor Fiduciary Rule is a mere 2 months old. But like any 2 month old, it causes anyone around it to lose quite a bit of sleep. And it tends to smell sometimes. And in particularly stressful moments, it makes you wonder if you have any idea what you're doing.

Well we found someone who knows what she's doing. Cindi Hill is the rare CFP(R) practitioner that liked compliance so much that she made it her primary business! Cindi has been following the rule, and she's got some updates and best practices to share with us. Hurry up and listen before they change all the rules again and we have to record an entirely new episode.


Places You Might Live If You've Never Heard of the DOL Rule

Episode 22 - A Recap of 2017 AICPA Engage Conference, with Ann Gugle

Ann Gugle of Alpha Financial Advisors in Charlotte, NC joins Ben and Roger to recap her experience at 2017 AICPA Engage Conference.

Do you constantly dream of being surrounded by 4,000 CPAs and financial advisors who live and breathe for the latest tax planning strategies and exotic step-up in basis techniques...IN LAS VEGAS?!? Then this conference was for you.

Find out why the AICPA conference is considered to be at the top of most people's lists for the conference with the Best Technical Content lists. And hear the challenge of networking with 4,000 people in the cozy confines of the MGM Grand.

And for those who want to hear more from Bob Keebler - who presented a keynote session at the AICPA conference - consider registering for the 2017 NAPFA National Conference in beautiful Orlando, FL. Bob will be conducing a three-hour session on Tax Planning and IRAs at the pre-conference, as well as a breakout session during the regular conference.