“It’s not what am I gunna do today… It’s thinking 10 years out”
Dave Steiner
David Steiner reaches out to Johnny FD about his recent $60k windfall after selling his dropshipping store last month. David as over 22 years of experience in a wide variety of business and information technology environments including over 17 years of SAP, 15 years of SAP Business Warehouse and 3 years of BusinessObjects. In this episode we talk about how to safety plan a retirement portfolio over a 15-20 year period to produce maximum profit.
Listen to ILAB 05 on iTunes here or subscribe on your favorite podcast app.
ILAB 05 Show Notes
Contact David – LinkedIn
Roth IRA Potential Return – IRS Government
Gift Tax Issues – IRS Government
SEP Plan FAQ’s – IRS Government
Vanguard Predictions – Spreadsheet
Recommended:
ArtofFX – start with just a $10,000 account (reduced from $25,000)
Fundrise – start with only $1,000 into their REIT funds (non-accredited investors OK)
Wealthfront – get your first $15,000 managed free
Betterment – get up to 1 year managed free
RealtyShares – try it free with ILAB link
Time Stamp Topic
(00:03:30) Obama’s “MY IRA” Plan
(00:06:00) Paying Taxes on a $60k Paycheck
(00:11:40) David’s Qualifications and Expertise
(00:14:35) Moore’s Law with Small Companies
(00:16:45) Sector Funds with Vanguard
(00:18:00) S&P 500 and Total Stock Market Index
(00:21:00) Small Company Index Mutual Funds over 30 Years
(00:24:30) Equity and Keeping Expenses Low
(00:25:30) When the Market Drops over 5%
(00:27:45) Big Risks in Energy Market Funds
(00:29:10) Fifteen Year Retirement Plan
(00:30:00) College Financing Options
(00:31:52) Obama Care – Healthcare Savings
(00:37:50) Up to $54K in a Tax Deferred Investment
(00:42:00) Roth and Traditional IRA’s Options
(00:47:00) SEP Withdrawal Fee’s
(00:51:00) Turn $50k into $3 Million
(00:58:00) Certified Financial Planners for Professional Advice
(00:59:00) Real-estate and Sector Funds with Vanguard
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