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Presidents can bully the Federal Reserve, but they can\u2019t set central bank policy. Joe Anderson, CFP\xae and Alan Clopine, CPA explain how the Fed impacts overall markets in YMYW podcast 55. They also discuss a recent article covering three reasons why you should ignore Hillary Clinton and Donald Trump\u2019s economic promises. Original publish date August 13, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed.\xa0

00:00 - Intro

03:06 - \u201cThe president doesn\u2019t control the Federal Reserve system. The way the Fed was set up was quasi-independent and answers to Congress on monetary policy.\u201d

07:56 - \u201cStocks are priced based upon future predictions of what we all think the future\u2019s going to be.\u201d

12:41 - \u201cThe moment you turn 50, you can put more into your retirement plans, and then that can give you a better tax benefit via deduction because you can shelter more money via tax or have more money grow tax-free depending on what planning you\u2019re doing.\u201d

15:36 - \u201cAny time you pull money out of a 401(k) or IRA, you have to pay income taxes \u2013 federal and state.\u201d

19:32 - \u201cYou actually have more control over how much you pay in taxes in retirement, more so than any other time in your life.\u201d

22:43 - \u201cThere are always crises, whatever they might be, but we get through them.\u201d

25:38 - \u201cIf there\u2019s a lot of inflation and everything has gone up in price, gold will probably go up in price too.\u201d

29:58 - \u201cWe are a fee-only Registered Investment Advisor; there are no commissions generated to our firm, we act as a fiduciary 100% of the time.\u201d

32:55 - \u201cIf you don\u2019t sign up for Medicare in a timely manner, then when you do sign up you have to pay more for Medicare for the rest of your life.\u201d

37:03 - \u201cThe more income that you make, the higher the premium you will have to pay.\u201d