Financial advice you don't want to follow

Steve & Ted
Tuesday, December 19th

Moneytracker Don Grant with some ways to avoid bad financial advice.


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

You and Aaron need do you Jamie suggest and emotions you need Sheridan has come in your mind and I wish I wanted to make the call me. Thank you. Maybe ten and thirteen thirty K tennis as we are still in bed in the morning. At 6473. Big things me. Congress just voted Republican tax overhaul plan Mitzi. Three dead after Amtrak train crash in Washington State law and Wichita City Council took fireworks Portland today. Three big things even death on Kate and aunts and. Stand this morning. Looks like traffic volume and are really starting to pick it up out there and we've still got death dogged it in the area bug and missed. So because his visibility goodness begin issued this morning. Traffic and Kate and as best brought to budget Robin Carl's Goodyear tire the city's downtown market and Letterman. In the east every street mall and on money grow tired dot com your home for complete car care. It's becoming partly cloudy today with a high of 57 degrees mostly cloudy tonight the overnight low 39 minutes. Wednesday tomorrow mostly cloudy with a high of 54. Now fall to missed 48 degrees begun southwest wind at eight miles per hour hey NSA is whether brought you by the monarch. Featuring the largest collection of cramped burdens of Christie's. In the state of Kansas. The ball or Covert military discount for current and retired veterans the monarch in delay no. 648 now with Steve intended stocks. Set more records Monday. Records across the board the Dow gained a 140 points and makes history. We have seventy record closes on the Dow Jones Industrial Average this year never before in any calendar here. As they're bent sending record closes Macedonia and he also gained. To record levels about a 140 points closing at 2100792. The NASDAQ Composite up 58. 699 before the S&P 500 up fourteenth at 269. Meters optimism on Wall Street. With the tax plan likely to go through traders believe we saw all time highs for Applebee's a Microsoft. Goldman Sachs American Express McDonald's Boeing and United Technologies. On the floor of the New York Stock Exchange Nicole federally days Fox News. Looking for a house in your price range how about free. That's a price tag attached to a four bedroom farmhouse in southern Iowa just one catch. The new owner has to move off the current owners land. Roger and Linda doled check. Posted a Craig's list and saying there ringgold county home will be torn down this literate no one takes up their offer. The demo and register reports the home is assessed at 52700. Dollars Eden. After 150000. Dollars spent on reap years. It also about a money pit and also has historic value is home to landmark hybrid corn innovation in depression area era I know salt. And as historical significance but how can you. How can you put a 150000. Dollars and all the repairs. And it's still only worth 452 so apple. Didn't they make of that editor that's not do it yeah. Net did you get again due home repairs later stated the idea is. To do the kind of home repairs that don't cost more than what you'll ever get out of them right. We need to put them in touch with professional homebuyers. Thirty immigrant sponsors that I didn't hear. On get these stated this story of a Florida man another story from Florida for you this morning Ted. The Florida man is missing his monkey. Carl own clinics and it's not a euphemism of burglar broke into his home in suburban Fort Lauderdale and stole his three month old. Cup which in month on named Henry well three month old Henry don't know nothing else was stolen just the monkey. Knicks is offering a 101000. Dollar reward. Says he has spent more than 9000 dollars on Henry and train for 1000 hours get a state permit for the animal. He said Henry is my child he's even hired a private investigator. A disguise his case and Europe detective. He spent 9000 dollars and trained for a thousand hours do you permit for the animal you have to train 2000. Hours in Florida did get a monkey. Move. Me. A thousand hours to take care as you know and your assessment of you know little little bigger fees you know gets eaten in equipped is Luke. That's a thousand hours in the Ukrainian do that to us once it. Straight and did take care of himself right it's a 651 Stevens Ted financial advice you'd don't want to follow Don grant CFP. The bunny tracker to morning Don there's a lot of. Free financial advice out there. Uncle Jim for example has hot holiday stock tips that lady giving investing advice on TV. Keep in mind the best financial advice for you is just that it's for you. Not everyone else in the dining room table or out there in TV land some of the rules of thumb for investors are just plain silly. And we need to be where to not make costly investment mistakes by following them blindly. One big one is the payoff all that debt before putting money away growing wealth isn't as much about time. While past performance can never be guaranteed history shows us that the longer you invest the greater your chances for growth. If you have consumer debt of course you need to attack aggressively. However at the same time invest for long range goals like retirement. Don't abandon those growth goals as you may miss the time element of investing. Next one is you need to take on extreme risk to grow your investment portfolio. While risky investments sometimes pay job moderate risk with steady periodic contributions. Is what can help grow your well. Risk is just that risk there's nothing wrong with slow and steady for a long period of time. Here's another one. You'll need only 75% of your working income in retirement so a new puts away a lot in their 41 K and has heavy work expenses. When he much less than retirement. Pew survey results show six in ten parents helped their adult kids with money last year. One in ten grandkids are living with their grandparents. And 15%. At 25 to 35 year old were living with their parents. All of that is expensive. For the parents. Spend your non Ira money first so that your role over Ira current growth tax free that's another one. Well it's true that your Ira money will grow tax deferred. But it also means that when you're seven and a half you were required to take money out. These huge I would distribution from a huge Ira that's been growing all these years tax deferred may bump you into a much higher tax bracket. Calibrate your distributions when you retire in an effort to keep your tax liability. In check here's another rule Tom spin just 4% of your nest egg at retirement. Every situation is different and some years are better than others monitor and determined. Distributions. Annually as it happens for you and of course you have any questions you give me a call number 63422. 22. Thank you done today is national oatmeal muffin day. Known for health benefits billions of people start each day with a mobile muffins the American muffin is smaller is similar in size object to a cupcake ago. Recipes for old bill muffins began to appear in American cookbooks in the mid eighteen hundreds. Opium offices are often complimented by raisins bananas blueberries and other healthy fruits. It's owed it millions of people are reading these every day and I'm not wanting this I don't think I think that's it look I'm not sure I've ever eaten and I'm going I'm either. I think that's does that did you get that from the farmer's almanac naw you know eighty don't know what. A fairly reputable web site I would think it's that you know that saying you know. Any indication of our buddies down all used to bring in a holding a muffins no longer a month and I'm never seen an area we love and yet never okay. Well destructive out there for what it's worth it you know that upsets people if they don't know about. Opium often they don't and that's. You know Andy and now it is national oatmeal Moffett. Currently got a day for everything. That's reliant we can come you come up with something else the next hour will make it known that day but you know let's. Misunderstanding words Ayers up something like. 655 Stevenson. Coming at 7 o'clock. The K and us this morning and Steven did a complete look at today's news including the Wichita City Council looking at fireworks policies. Stephen deaths on K and assess.