White Coat Investor Podcast WCI #376: Trusts, Direct Indexing and High Yield Savings Accounts
Jul 18, 2024
Topics covered in this podcast include trusts, direct indexing, high yield savings accounts, real estate investing, and financial planning for surgery residents. The discussion also touches on retirement planning, investment strategies, CD and bond rates, and the benefits of community support for financial independence.
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Avoid Trust as IRA Beneficiary
- Avoid naming a revocable trust as the beneficiary of IRAs to prevent higher taxes.
- Name individual beneficiaries directly unless you need control over the inheritance timing.
Avoid Adding Kids to House Title
- Never put your child's name on your house title to avoid losing step-up in basis.
- Instead, use a trust to avoid probate and preserve tax benefits.
Use 5% Real Return
- Use a 5% real return assumption for long-term retirement calculations.
- Adjust the assumption over time as you approach retirement for accuracy.