On this episode of "On the Money," Paul Ruedi, Ryan Repko, and Dr. Fred Giertz answered a listener's questions about how to invest in his 40s and discussed retirement planning.
(1:06) Taxes; Economic Optimism
(6:11) Listener question: My wife and I are going to inherit around $300,000 from selling farmland. We are debt free, have two girls in grade school, and have 529 plans for them. We’re both in our 40s. We plan to keep some of the money in savings, but are torn about what to do with the rest.
(16:30) Asset Allocation for a 40 year-old couple
(24:38) Pre-retiree couple in their early 60s retirement spending example
(26:35) Millionaire next door traits
(36:36) Listener question: How will Biden’s plan to eliminate step up in basis impact farmers in Illinois?
(38:31) Listener question: temporarily low tax rates and Roth conversions
(44:25) Waiting on a stimulus check?