BROADCASTS.com

On this episode of the Planned Solutions Financial Review Podcast we discuss, Household debt in the US is at an all-time high, more than $1 trillion more than the previous high in 2008. This has led to the first annual increase in bankruptcies in over eight years. Unlike the last recession these bankruptcies are more likely to be triggered by excessive consumer debt (student loans, auto loans, and credit card balances) rather than mortgage debt. Bankruptcies have also been more likely to impact retirees. And, The SECURE Act, which recently passed the House of Representatives and has been sent to the Senate, includes changes to the rules related to inherited IRAs for non-spouse beneficiaries. Specifically, the new rules would require that non-spouse beneficiaries distribute 100% of the account balance within 10 years of the original owner’s death which could lead to major financial planning and tax implications. Also, Most people understand that they should reduce their investment risk as they get closer to retirement or the point where they will start taking income from their accounts. This is also true when it comes to educational accounts. It is important to reduce the investment risk of educational accounts as the beneficiary gets closer to the age when they will need to fund higher educational expenses. If this is neglected educational accounts could experience a sharp decline in value right as the money is needed to fund educational goals. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- The Harlan D. Wood Memorial Cancer Charity Golf Tournament is just three months away. We hope you will sign up to attend or support the cause by donating to a cancer charity of your choice. Date: September 6th, 2019 Location: Rancho Murieta Country Club – North Course 7000 Alameda Drive Rancho Murieta, CA 95683 Time: 9am shotgun start, 1:30 barbecue All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the BBQ. To subscribe or unsubscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc. ADDRESS: PHONE: 1130 Iron Point Road, Suite 170 (916) 361-0100 Folsom, CA 95630 (800) 750-2111 E-MAIL: FAX: Shannon@PlannedSolutions.com (916) 361-0191 WEB SITE: www.PlannedSolutions.com #finance #invest #investment #stocks #interestrate #bonds