And good evening.

You've got more than money.

You've got Gene Dickison.

Megan Smale.

got the entire team here, providing you with another edition of more than Money.

Loyal viewers, you know exactly how this works.

For those of you just joining us for the first time, welcome.

You will find, I think that this is a show unlike any other.

We are the most relevant financial show on television, anywhere, any station, any network, ever.

Bottom line.

Because because on that special though, let's be honest, but not because I'm not special, but because you are.

You send us your emails.

You ask us your questions.

You ask about the most important things in your lives.

As soon as I see the word grandchild, I know it's the most important question of your life.

But so many different interesting questions that you have to offer us and you trust us to give you good information, good content, good advice, good recommendations to help your life going forward.

And we're honored to do so.

We absolutely are honored to do exactly that.

You make us the most relevant.

You are the stars of the show.

Very, very exciting.

So if you have a question and maybe as you watch the show, you said that's that's interesting.

Mine's a little different.

A little different is very interesting to us.

Gene at ask mtm dot com works very very well.

We have an entire team of financial advisors, very experienced, very well trained and very excited to be able to serve you.

There's no cost, there's no obligation.

There's no trap.

All you have to do is ask the questions and, respond as, as necessary to get the information that you need.

Then we select some of those, make sure that we air those.

It's a small fraction of the emails we get, as you might expect.

But bottom line, some very, very interesting things that we get to talk to about with all of you.

And if all of you, some small portion of all of you can relate directly to the question, that's great.

But if all of you get kind of a sense of what people are faced with, that might stimulate your own thinking about how you might better approach your financial picture, or how someone you love might better approach their financial picture, or how you might be able to help someone you love directly.

With a little bit of financial largesse.

We are in this season.

We're in a season of gratitude.

We're in a season of joy.

We're in that season.

Wouldn't it be lovely if that season was all year round?

Maybe we should start that.

Maybe we should just start and assume that every single one of our shows that we create, are being aired during a season of either gratitude, joy, or both.

So I'll start tonight with that assumption that you're, you are in a season of your life filled with gratitude and joy and that you'll be welcoming.

What the the answers we give to our questions this evening.

And, Megan, let's show them exactly how this works.

Where do we start?

Well, our first email.

Hopefully we can help add some joy back into this viewer's life.

They say I'm 72 years old, healthy, retired for five years, and I'm completely bored with my life.

I want to go back to work, but no one wants to hire me because of my age.

So what can I do?

Gene?

Well, goodness.

First of all, good for you.

I'm bored is no way to go through life.

So 72, very young.

You're part of our age club.

Your health has happy, healthy 100.

You got 28 more years to be productive and do great things.

I had the pleasure before this taping session to be in with a client whose mother just turned 105, 105, still going strong, mentally sharp as a tack and enjoying life.

Maybe 28 years, maybe 33 years, maybe longer.

We've got great medical care.

We've got, folks in the government now saying, let's be healthy.

Let's make America healthy again.

Let's support that.

That's a great opportunity.

So stay healthy and make an impact.

Your observation that no one wants to hire you because you're 72 is contrary to my experience.

And in counseling, dozens and dozens and dozens of folks who have retired.

We have they have found, goodness, legions of opportunities companies, particularly smaller companies who are excited about having somebody, as part of their team, who has to be blunt, some life experience, some people skills, understands the difference between being honest and being rude.

Appreciates the opportunity to show up on time.

Stay till the end of a shift.

Do all the kinds of things that we pray that employees will do.

You.

That's you.

That's your natural.

So if you've been approaching, rather large companies, perhaps that is an issue.

If you approach a number of relatively smaller companies, I think you will find that you will be in demand.

Now, I would caution you, though, if you've been retired for five years, it is not the money.

I'm guessing it's not the money that you're looking for in terms of working.

It is the fulfillment.

It's the excitement.

It's the reason to get up in the morning and get showered and put on fresh clothes and head out into the world.

That doesn't necessarily mean paid, employment.

It could very well mean, outstanding volunteer opportunities, organizations that desperately need high quality, intelligent people that, again, have real life experience.

Those opportunities are literally everywhere.

So, work, absolutely.

A relatively smaller companies look for that niche where you could fit in and be of real value to them.

I think you'll find them very interested.

Volunteer.

Without a doubt.

The opportunities are everywhere, and with just a little bit of conversation, perhaps with some of your friends, maybe somebody at church, you can be directed in the in in that down that path towards a exciting opportunity to make a real difference.

In terms of volunteering for a, a organization that you care about.

And lastly, think about your family or maybe your extended family.

We'll, we'll pick on, on, on me for a moment.

Our new granddaughter, currently nine months old, adorable.

And a lot of work.

Oh my goodness.

My daughter, my son in law.

My wife and I, his parents.

There's tons of work.

Maybe there's somebody in your life that could really use an extra hand.

Maybe there's somebody in your life.

Maybe somebody you already love desperately that could use an extra hand.

That could use some support, that could use some, Goodness.

Hey, let me do the grocery shopping for you.

Let me pick up your dry cleaning.

Let me pick up the baby at school.

Let me, hang on to the baby for 4 or 5 hours while you get a nap.

Naps are in short supply that you might be able to have an impact either on a child, maybe a senior citizen, maybe somebody maybe just dropping in, go on a rotation and drop into the folks that you know, that maybe are a little lonely and would really appreciate someone like you that could bring life and energy into their lives.

You've got lots of opportunities.

I have barely scratched the surface.

If you continue, persist in finding yourself bored.

Reach back to me.

We'll figure something out.

Megs short question.

Long answer.

Oh my goodness.

Where do where does Gene go next?

Well, those were very good suggestions, I hope.

I wish them luck.

I don't think they're they're alone in their, their current issue.

But there's definitely some solutions.

Our next one is just wondering, do we offer financial and retirement planning in new Jersey?

We could drive to Bethlehem if needed.

Thanks.

Pretty short.

The reason I think this is an important question to ask for many of you who see our show, across the country.

Bethlehem.

Yeah.

Bethlehem, Pennsylvania is the site of our.

The MTM world headquarters are more than 90 world headquarters.

These folks happened to be right across the river in new Jersey.

They could drive to Pennsylvania.

Is there somebody closer?

Is there somebody in new Jersey?

The answer is, of course there is.

I have no idea who they are.

But bottom line, there are wonderful financial advisors to be found throughout all 50 states.

Now, the interesting wrinkle to this question is that if this were asked even ten years ago, the then regulations, the SEC and Finra, etc.

would have made it a very difficult, a very challenging, problem for a financial advisory firm to offer their services much beyond their neighborhood, maybe a second state.

So if we're right on the border of Pennsylvania, new Jersey, maybe new Jersey, maybe New York after that, it just got unwieldy.

Over the last ten years, many things have changed.

Technology has changed.

Regulations have changed.

Reality has changed.

For example, many firms, do business not just in their neighborhood or in their state, but in multiple states at this, as of this recording, changes every day, grows every day.

The more than one world headquarters we serve, clients in 22 states.

That's a lot.

And it's a huge geographic footprint, but it's simply not a problem because the technology allows us to have, zoom meetings where we're face to face.

Those are wonderful.

We can do, phone conferences.

Of course, that's easily done.

We can do, in-office, conferences for many of our clients.

That works out beautifully.

Even if they're the snowbirds, for example.

And they they go south for the winter or they go west for the winter.

They may be, back in Pennsylvania for a week or two here and there, or maybe for their entire summer.

All of these things are very, very easily done.

If the commitment is, hey, I don't really know somebody in my local area and I would like to work with someone that we've become familiar with through more than money on television.

The answer is it's easy.

It's absolutely easy.

Now, is it right for everybody?

I don't think so.

I don't think so.

Tons of folks, tons are very comfortable with zoom and calls.

And, gosh, we use electronic vaults so we can exchange information very securely.

Tons of folks are comfortable.

Lots of folks are not.

And lots of folks are very interested in the face to face, knee to knee in the same room.

And if that is the case, then again, I will, restate where we started.

There are lots of great financial advisors out there who have similar ideas, similar, goodness, philosophies, strategies, that can be of wonderful assistance to you.

It just may take a little bit of, of, of effort to look around and find one that fits fits you.

If you're having a problem, circle back.

We'll do our best to help.

Excellent, excellent.

Two very short questions that I have managed to make very long winded answers out of.

Maybe.

Maybe we'll break that pattern with this one.

Well, let's see, we have a couple questions in this next one.

And I think the the headline might give it away a little bit.

Hopefully we can clear some things up for this viewer.

They said I was reading in a tax book that on withdrawal, retirement accounts 401k 403 b IRAs are taxed at the marginal income tax rates, despite the actual investment gains.

Wondering do these retirement accounts convert long term capital tax rates to higher marginal income tax rates or income rates?

If true, this fact is not well discussed or advertised.

Why?

Tax deferment is great, but not at the cost of higher tax rates.

What types of investments make the most sense for those?

For these retirement accounts?

And where should stock investments be kept to qualify for lower long term capital tax rates?

Brokerage accounts.

Thank you for your help.

Reading.

A mind is a terrible thing.

I'm not sure that's the exact quote.

Reading and trying to understand, the tax code under any set of circumstances, for anyone challenging for a professional.

Tons of work.

Our tax department, for example, we have a, a complete tax division inside.

More than money.

I think they just finished their fourth round of either 2 or 3 day, programs of continuing ed, things changed dramatically and, and and getting a real handle on all this very challenging.

So picking up a book and going, I think I'm bless you.

Bless you.

Well, and I give you, I give you great credit, for making that effort, getting some some basic education, but a little bit of education.

As I say, a little knowledge can be dangerous in this case, exceptionally so I'm going to use very simple numbers, because no numbers are in the, the, the, email.

Of course I can.

I can kind of, what, make it up as I go, so to speak.

Let's choose $100,000 in an IRA at age 30, and we're not going to take money out until 70.

So it's a 40 year run.

This individual's question says, hey, wait a second.

If I put stocks in that IRA and they go up 10%, I'm going to be taxed in my normal tax bracket, which might be, higher than my capital gains rate if I keep the stocks out of my IRA and they go up beautifully.

Let's say in both cases, they average 10% in the IRA.

It's going to be taxed in my ordinary tax bracket.

Let's say that's 20%.

And goodness, if, if depending on my tax rate, I might end up paying only 15% if I don't have it inside an IRA.

All of that is absolutely true.

All that's absolutely true.

There is no capital gains treatment for money coming out of an IRA.

Every dollar that comes out of the IRA is taxed at your ordinary income tax rate.

And while for this individual that is causing some real agita, it may or may not have any impact on you at all.

As a matter of fact, contrary to his or her conclusion, that this is, a really bad thing, and people should be talking about reasons not to go into the IRA.

I would argue the exact opposite.

Over a 40 year time frame, this $100,000 is going to be earning something.

Let's use the stock market.

And it's just an example.

It's not a guarantee.

10% a year, 10% a year is 10,000 bucks.

If you're in the 20% bracket, you would normally have paid 20, I'm sorry, $2,000 instantly.

As your capital gains for that year.

IRA, you don't do that.

So your $10,000, including the 2000 you would have paid in tax stays in a tax deferred, a tax sheltered, under a tax deferral umbrella account, the IRA, and you are actually earning profit.

If it's on the tax, you would have paid in over a 40 year period the number of profits that you will generate, money that would have been lost to the IRS 40 years ago, 35 years ago, 30 years ago is tremendous.

So while indeed the tax, advantage of capital gains is impressive, it may have little or nothing to do with the success of a long term tax deferred IRA strategy.

As a matter of fact, quite the opposite.

There are folks today who are retired taking money from their IRAs at a very substantial rate, but because the tax brackets have grown, have escalated over time, they're only in the 15% bracket.

Translation they're in a bracket roughly equivalent, maybe even a little lower than their capital gains bracket.

So if their capital gains rate is 20 and they're taking money out as ordinary income, and that's a tax that 15, unlike this gentleman's concern of, hey, we're going to end up paying a lot of taxes.

We shouldn't they may end up actually paying less taxes than they would have if those stocks had been held in a brokerage account.

If you're concerned, absolutely keep your stocks in the brokerage account.

Keep your income producing assets in an IRA.

For some advisors, that's their secret source.

I don't find it that compelling, as you just heard.

But, if that gives you more peace of mind and gives you more, less agita over the next few years.

God bless you.

Excellent.

That was fascinating.

Megs is something else that I can be fascinated by.

I hope so.

We always get fascinating questions.

This one says I recently left my job, and I'm interested in the options of, someone managing my previous 401 K, which is currently with T Rowe Price.

The current value is slightly over $1 million.

I would like to discuss benefits of leaving it in the T Rowe funds, or transferring to other IRA accounts.

Thank you.

I apparently this is our show for the short questions.

Long answers.

This scenario, put aside T Rowe Price for a second, or don't put it aside.

You can substitute Vanguard.

You can substitute and any mutual fund group that you wish.

The answer will be exactly the same.

The issue is not T Rowe Price, which happens to be an exceptionally good, fund family.

They have many, many investment, offerings that are excellent.

As as with Vanguard, as with many other fund families.

That's not the issue.

The issue is not quality of investments.

The issue is options.

The issue is options.

401K plans have certain advantages and certain disadvantages.

Bringing that those dollars out of that 401 K plan will in some cases cause you to lose some of those advantages and perhaps gain some advantages.

Wow.

Sounds like this is a little more complicated than it appears.

The answer is, of course.

So let's use the generic scenario of I have left a job and I have for one k money.

At the previous employer, some folks say, well, I got to get it out of there.

I didn't like working there.

And I like those people.

They're probably going to mess with my money and that all those things are inappropriate.

They don't apply.

The 401K plan is administered by someone completely independent.

Of your previous employer.

Your previous employer has no access to that money.

They have no influence.

They can't do anything inappropriate or negative or malicious.

They can't.

So if this individual is happy with his 401K plan, previous employer at T Rowe Price, I geez, I laughed.

I guess I have to go someplace.

The answer is no.

You don't.

In some not rare, but some cases.

Yes, they will insist that you leave relatively smaller accounts, generally under $5,000.

A41K administrator will say, we're not going to let you stay.

You've got to go someplace else.

But if you've got more than that, the first option you have is don't do anything.

Stay right where you are.

Pretty interesting option, particularly if you're happy, particularly if you're getting the results that you wish.

We don't know ages.

We don't know retirement dates.

We don't know any of those kind of factors that might cause me to say, hey, probably you want to go one way or another, but an option, first option, stay right where you are.

Second option a lot of folks are not familiar with this.

If this is a previous employer and you are currently employed and your current employer provides you with A41K with within which you participate, you can move your previous forward K into your new 401 K. Interesting.

If you're looking at your new for one can think it's really good.

I like the investments.

The fees are really low.

The the online experience is excellent.

I like to keep things simple.

I'd rather have one account instead of two.

All of those are reasons why you might seriously consider taking your previous for one K and moving it into your current 41K.

A lot of folks are not aware they can do that.

You are now and you might be going.

That solves my problem.

But if you're looking at your financial picture and your financial goals, that's really a key issue here.

If your financial goals require, that you, take advantage of investments that are not available in either your previous 4 or 1 K or your current 41K, then rolling that money into a IRA or a rollover IRA directly into the IRA.

No taxes involved.

It's a tax deferred transaction.

Rolling it into an IRA may be the option that you're looking at in your best interest.

Perhaps because coming into an IRA, the universe of investments opens wide and there are many, many things that you can do with your IRA investments that you would not be able to do in your 401K.

Most prominently, the 401K has a menu.

Some 401KS have 8 or 9 investment options.

If you have a world class four and one K plan, they may have 50 or 60 or 70 options.

By the way, world class plans are available for the same cost to an employer as a plan.

So if you're an employer thinking I got A41K, it's not that good.

You can have a world class plan for a an expense no higher than what you're currently paying.

But putting that aside for a second.

There's always limitations.

There are things that you cannot do inside A41K plan that you may wish to do.

And we talked earlier in a previous show about protecting investments.

Might be a, a protective investment that that limits downside losses in the stock market.

It might be a protective investment that guarantees a lifetime income, or maybe even a growing lifetime income.

It could be any number of different things that are not available in your 41K, if that is your need.

If that is your desire, then rolling into an IRA is is something you must seriously consider, because that's where you will find all these, this the vast universe, thousands of investment options versus a few or dozens.

So a lots of options stay where you are.

Roll to your current for your old into your current for 401 K. Roll the funds into an IRA.

These are all options that you can absolutely look at.

Just as an aside, just for fun.

If you're saying there are some of those T Rowe Price funds I really like in almost every case, in almost every case, certainly, if you're working with a registered investment advisor, you can roll that those funds into an IRA and still use T Rowe Price and still use the institutional funds that are there.

The costs are so very low.

So if you want to kind of have your cake and eat it to coming to an IRA, use the T Rowe Price funds that you really like.

Take advantage of some of the funds, some of the investment types that are not available in your 41K and customize this so it fits you and your financial goals perfectly.

Working with a financial advisor is exactly intended to do that.

Customize ideas, strategies, investments so that the result that you get fits you perfectly.

It's not a general fit.

It's not off the rack.

It is literally customized to you.

And if you're getting that result, God bless you.

That's fantastic.

And if you're not Gene at ask mtm dot com.

Send us your questions.

We will absolutely be glad to send those answers back to you.

Folks, thanks for spending part of your time with me this evening.

You do me the great honor.

I hope you'll do that same honor to me next week when we're back for another edition of More Than Money.