Episode 1313: The Weekly Wrap 10.5.24

Winning at Life with Gregory Ricks: The Weekly Wrap

Here are the key takeaways from this show:

Tax Planning and Filing:

• The IRS has extended tax filing deadlines to February 3rd for those impacted by Hurricane Francine. This provides more time to file returns and make estimated payments.
• Jude Heath, the CPA guest, emphasized the importance of filing tax returns, even for retirees, to avoid issues down the line for beneficiaries. He recommended consulting a CPA for guidance.

Financial Planning and Budgeting:

• Gregory Ricks stressed the value of working with a financial advisor to help with planning, goal-setting, and making adjustments as needed. He believes advisors can add significant value.
• The importance of maintaining monthly awareness of your cash flow and budget was highlighted. This can help identify issues early and make necessary corrections.
• Reaching the $100,000 net worth milestone was discussed as a key wealth-building goal, as compound growth can accelerate from that point.

Market and Election Insights:

• Gregory provided historical data on average stock market performance under different political party control. He emphasized that long-term market performance is more tied to fundamentals than election outcomes.
• While some may be concerned about the upcoming election, Gregory expressed confidence that the results will be known relatively quickly and that the markets will continue to focus on economic factors.

For LIVE financial news talk radio, tune into "Winning at Life with Gregory Ricks" LIVE on Saturday Mornings on:
WRNO-News Talk 99.5 FM New Orleans - 10 am - 1 pm
WBUV-News Talk 104.9 FM Biloxi - 10 am - 1 pm
OR
For financial news talk ON DEMAND, tune into the Ask Gregory Podcast for more financial topics that may interest you! Visit: https://gregoryricks.com/podcast/