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The Chris Berry Show


Nov 15, 2018

IRAs and 401Ks are a great way to help you get closer to your retirement saving goals but they can seem confusing and overwhelming.

On the Chris Berry show this week we dispel some myths about retirement planning as well as explaining some of the basics that are good to know when thinking about IRAs as well as some great tips about 401Ks.

In this episode of The Chris Berry Show, we’ll discuss in more detail the change in law regarding the VA benefit and how it can affect veterans, Chris and the team’s amazing results from the Walk to End Alzheimer's, and some great information from Ed Slott on why we should bother saving in an IRA.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • The official numbers of how much was raised for the Walk to End Alzheimer's.
  • The details of the new change in the law regarding the VA benefit.
  • Chris’ negative focus for the week.
  • About a concept that Chris was discussing with a colleague of his.
  • The difference between a Roth and an IRA.
  • Some IRA basics.
  • Why it is a good idea to have a financial plan and a plan for retirement.
  • Why it is important to keep up to date and know the IRA rules for 2018.
  • Common myths that people believe when it comes to retirement planning.
  • Why you should bother saving in an IRA.
  • Why you can't just rely on your employer's sponsored plan.
  • Some things to look out for if your company offers a 401k matching program.
  • How to attend one of the free workshops that are put on every week.
  • Why it is important to know the differences between a traditional IRA versus a Roth IRA.

Q&A

In each episode, I take questions from listeners. If you do have any questions that you want answers to, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Sebastian asked: "I am four years away from retirement and I already have enough income for retirement. I have a lot of money in my checking account. Is there a certain balance I should keep in my checking account when my retirement accounts are set?"
  • Doug asked: "I may be receiving an inheritance from my uncle's estate, and I'm on medicaid and I am worried that the inheritance will knock me off my benefits. My uncle is still alive and just told me he planned on including me. What can I do?"
  • Laura asked: “Can I collect social security out of my ex spouse's record even if my spouse has remarried?”
  • Chris explains a problem that he helped a fellow attorney with.

If you have a question that you would like to ask Chris then drop him an email at askchris@thechrisberryshow.com or call 810-355-2584.

Links & Resources

Alzheimer's Association

Alzheimer's Association 24/7 helpline - 800-272-3900

TheElderCareFirm.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Farm Bureau Insurance

RiskScoreNow.com


Follow us on Social Media

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Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry