KNSS Radio>Audio & Video on Demand>>Steve & Ted in the Morning 03-01-17 Moneytracker Don Grant: IRA do's and don'ts

Steve & Ted in the Morning 03-01-17 Moneytracker Don Grant: IRA do's and don'ts

Mar 1, 2017|

Don Grant C.F.P. with some tips for that IRA.

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Automatically Generated Transcript (may not be 100% accurate)

I would like him and his bits of about technology and we'll economics and good morning 987 at thirteen thirty KMS as we are Steve and kid in the morning thanks you. Or tuning as industry and really. Now three big things at. President Trump's speech to a joint session of congress and storms hit several states at least two dead lie. Today is Ash Wednesday the beginning of lent. Three big things Steven dead on Kate in a sense. The gasoline prices in Wichita today still through nineteen after the jump in gasoline prices did find a better price to eighteen. Just once cent off there at 218 at colony and meridian and remember he's got a better traffic. Better gasoline price or traffic slowdown you give us a call 86913. Thirty you meet traffic tracker. Spain SS traffic update brought to budget of Robin Carl's Goodyear tire located downtown a market and Waterman in the east ferry street Mullen alana crossfire dot com. Your home for complete car care sunny breezy and cool. For today with a high of 55 degrees after yesterday's high of 68. Look for northwest wind at fifteen to twenty miles per hour. Clear and cool tonight the overnight low 29 Thursday setting tomorrow's high fifteen. Mostly clear. We have a northwest wind sixteen miles per hour 37 degrees. Qaeda says weather brought you by the monarch. Explorer your love of America's native spirit every Wednesday. With four dollar select burdens and trustees located at 579 list Douglas in historic delay know the monarch. The new chief executive talks to legislative branch. Focus on the White House president trump made his first ever address to a joint session of congress declaring his election marked change in his country. A new national pride is sweeping. Across our nation. And in new surge of optimism is placing impossible dreams firmly. Within our address. What we're witnessing today is the renewal. Of the American spirit. This is a much more subdued tone down president something. Clearly speaking to the setting and very much sticking to the teleprompter. ABC's Karen Travers inside the US capitol the democratic response delivered by a former Kentucky governor Steve this year opining that the president is surrounding himself. With the individuals who don't represented populist theme here's miles. He should you pick the cabinet the billionaires. And Wall Street insiders. Who want to eviscerate the protections that most Americans count on. And that help level the playing field. Richard can't sue ABC news. On Wall Street dude and Tuesday a winning streak ended it after advancing for twelve straight days. The Dow lost 25 points. The S&P he has slipped six points and the NASDAQ lost 36 points retailers including target led the market lower target's stock. Slumped 12% Tuesday after releasing a weak profit report. And earnings forecast futures this morning indicating the Dow up by as several dozen points so it could be some good response. The president Trump's speech last night Audi Porsche BMW and elections are the best performance brands and consumer reports annual rankings. But lower priced options are not far behind Subaru Kia Mazda Honda and Buick. Also made it into the organization's top ten brands for 2017. Tesla was the highest ranking US based brand at number eight. The worst performers were Fiat. Jeep and Mitsubishi. About that at. US bank's earnings in the final quarter of Tony's sixteen rose seven point 7% from a year earlier banks are doing while as lending continue to grow and banks set aside less for losses on loans. For the first time since late 2015 so yeah banking business is like it's doing pretty good. Puerto Rico's governor says he will eliminate subsidies. Shrink the number of public agencies by nearly 75%. At. And increase the cost of some government services to reduce spending and boost revenue. As ordered by a federal control board amid an economic recession gather. According does that economy's terrible and some tough times. US consumer confidence has climbed to the highest level in more than fifteen years. That's pretty good news for the economy Americans are confident. Conference board said Tuesday. It's consumer confidence index rose to 114 point eight in February from 111 point six in January. And meaningless numbers except it was the highest. Since July of 2001. With. The index measures both consumers' assessment of current conditions. And their expectations for the future and both. Improved in February. All right can I Erica since the summer before 9/11. Yeah. That ship our confidence in me always don't get beyond chick every Hillary economy confidence and everything else. I get around 651 Steven and Ted in the morning Don grant C a it and Ira don's got that got the scoop for us good morning Don. I have this view that morning. Mohsen peppered investors stay away from tremendously exotic investments and there are now they'll generally stick stocks bonds and maybe an alternative investment or two however investors can. Put their money into self directed iRows they're pretty much anything. Other than life insurance and collectibles. When you're delve into the realm of unconventional investments there are potential dangers that could devastate finances out. Happening to many investors so so many that the Government Accountability Office GA oh. Issued a report suggesting that the IRS improve its guidance on our investment in unconventional assets. Ira custodians. Are responsible to some degree. That means that they cannot allow certain holding. However it's the ultimate responsibility of the investor to ensure they are not violating investment guidelines. For example in Ira custodians will allow real estate to be held within a self directed Ira. It cannot however being active investment by the owner that means our owner is not allowed to perform many minutes or manage the realistic. Nor can he or his relatives live in the real estate the IRS does not go easy on penalties for those who don't all the rules. Let's just say that 101000 dollar of an Ira with a total value 500000 dollars. Is used as it prohibited transactions. The iris will deem the entire Ira all 500000. Dollars as being. Distributed. That means if you're younger than 59 at you'll get 10% penalty. As well as taxes on the entire 500000 dollars even though disk. 101000 dollars in question. Lending to or borrowing from an iris considered self dealing. That's another example of a prohibited transactions that you put the entire Ira in jeopardy. Dirt too many exceptions to mention in the report particularly when dealing with our own businesses. So always work with the taxpayer was to deal regularly was self directed iris if you're considering stepping in. A bit outside of the normal range. Our investment opportunities and of course if you have any questions you give me a call number 6342222. Donna you get your morning cup of coffee gone and there today and I do I don't have prairie fire ago unlucky you. Lucky I bought mine and it doesn't love pop a tip there but I. I still love myself but I would love myself probably more art Kerr fired at the prairie fire copyright you're next to be you know and drink and and done what you're not drinking. Prairie fire coffee work you boss doesn't look view. This is the first day of led duties and Wednesday it is also world compliment day. What are they are. Bearing in your viewers are great guys these are always enjoyed working with YouTube within our I'd like no no no no by no sure you're way better now though it's not world. Insincere compliment day. And I. If. But this seriously for just a minute sister produced about you know it is it seems very difficult for most people that give a compliment. A sincere compliment it's tough to and sometimes some people never ever do it. And then some people will pony it up like you just did. A. The compliments I immediately give sometimes a little bit trouble that you would like a waitress who I think attractive ago while you're hot. And but that's how. It. It police insincere from a guy standpoint yeah we recruit a guy SharePoint as a tablet may elect nice minutes from there is it's an emotional was. But he can do work today. Here yet court yeah I've never said McCullough a great guard amber yeah I've never sedated like your shoes. I and you replied sure yes you're right yeah that's right you did Edward. We're here yeah I think and I think when you get in to visit business situations managers especially. They don't like to compliment the they're it's their subordinates. Because they think to support wheels come right around it ul obliterates. Right here where. Arm because you know a compliment to a subordinate art and goes a long way yup it's specially if it's an assistant insincere compliment. Exactly. Yeah that's like I gotta compliment from our boss Jackie wise you Lisa you know. We're lucky to have you for these prices. So he was kind of how. You know from the bottom of my heart I I truly enjoy working with Hewitt Jad. And as seriously champion you know it's been incensed 2004. That I don't mean. Always are heard and that really. Okay yeah yeah that's pretty well and in brilliant and sincerely. Look forward or do they get together every morning about this time and I think our listeners do to done that's what I like. I think I think it brings up under the table. And our current core. Area. World government days thank you got to be here again tomorrow morning now. Dead she gets over that you've done. 650s it's the guys join you guys come on that ringgit 7 o'clock John apparent love in the room. Is says. Is usually Stephen tent on the top of the hour president trump. Speaks to congress we've got the story Stephen 10 in the morning on tape and assess.