Thanks Toby and guest, very informative as to the moves to make with our money.

@TobyMathis

10 ай бұрын

Our pleasure! Thank you for watching.

GREAT JOB GUYS!!

@TobyMathis

10 ай бұрын

Thank you!!

Awesome stuff!

@stefanwhitwell1420

10 ай бұрын

Thank you so much for the kind words! I'm always so self-critical when I review my own video appearances...Toby's fun to work with and a great presenter, he makes it easy for his guests and has a first-class recording set-up.

Thank you, Toby!

@TobyMathis

10 ай бұрын

Thanks for watching

The guest spoke about Custodial Accounts to protect your cash. When I try to research them, all I find is about Custodial Accounts for children. How to I find out about ones for protecting my money?

@ritzenhauf

10 ай бұрын

Unclear how to find one, and exactly what its properties are

@renegade382

10 ай бұрын

The custodial accounts they’re talking about are available at brokerages not banks

@stefanwhitwell1420

10 ай бұрын

Unfortunately, the so-called Google Search is both a blessing and a curse. Sometimes it helps to know someone =) I'd search for the biggest custodians (folks like Schwab and Fidelity would be top of my list for example). And then make sure you're always working with a CFA if on the investment side and also make sure they are acting as your fiduciary.

@pjames8712

10 ай бұрын

I called Vanguard and found the same thing. Not custodial accounts as they are for children

@stefanwhitwell1420

10 ай бұрын

@@pjames8712 LOL -- you need to remember that the people that answer the phone usually are not subject matter experts, either in the details of their own company or the industry =) I do believe that Vanguard offers custodial services: Vanguard Fiduciary Trust Company (VFTC), is the custodian for IRAs held at Vanguard Brokerage Services.

Thanks xplain good

@TobyMathis

10 ай бұрын

I hope the info proves helpful.

Yes it’s the 4iR (4th ind rev’n). Automation and new global pyt system based on blockchain.

‘Believe it or not we are not out of the woods yet’. Huh? It hasn’t even started, we ain’t seen nothing yet!!

@stefanwhitwell1420

10 ай бұрын

LOL -- stealing my thunder...couldn't agree more, ha!

@jmc8076

10 ай бұрын

Agreed I’m not sure many believe that it’s almost over. Let’s talk in 2028-2030.

I see a lot of confusion from the “custodial” account section. All he is referring to is to have a brokerage account directly with one of the big companies like fidelity or Schwab (his examples) and not a smaller brokerage who piggy backs off of one of the big guys. An easy way to understand this is cell phone carriers. Using one of the big guys is ideal because they own the infrastructure. Using one of the discount carriers piggy back on the infrastructure provided by the big companies and take a spread (fee) on providing the service. The small guy cannot guarantee you the connection because they don’t control the network

@stefanwhitwell1420

10 ай бұрын

And, please make sure that whomever you work with is acting purely in a fiduciary capacity. Some of the big firms out there have RIA arms but they also have broker-dealer arms (which are NOT obligated to act in your best interest) -- but they both sit underneath the same Logo that get's advertised on TV so it can be confusing....Toby says all the time to make sure you ask that -- and he's right.

@michaelgoodrich5309

10 ай бұрын

@@stefanwhitwell1420 this is correct. Also make sure you actually ready both the adv2A and B disclosures with any advisor you work with. This document requires advisors and the firm to disclose how they are compensated. As a fiduciary myself that is why I started my own firm. I prefer the “fee only” model. It reduces the amount of conflict of interest and no commission products are used. For compliance purposes, I will not publicly disclose my firm :)

Which trending should I cover next?

@kriskris5989

10 ай бұрын

How about protection of cashvalue in a life insurance policy? I haven’t seen a single attorney cover this topic in detail..people who talk about this are life insurance agents but its like taking stock advise from a broke person..no one better than you can cover this topic..it will be an instant hit among agents,wealthy clients and general population

From what I understand, you have to have a CFP open your custodial account. Is that correct?

@stefanwhitwell1420

10 ай бұрын

Nope. Fortunately, they work with us common folks too =) I have a CFA (not a CFP). The CFA is the most respected investment industry credential out there. CFP is the premier financial planning credential (we've got one on our team too). Good news is that anybody can open an account at a Schwab or Fidelity. Just make sure that it is being held by the custodian arm of where ever you're looking and that you're only speaking with experienced, credentialed fiduciaries. Otherwise, you risk a lot of confusion and wasted time spinning your wheels. Our industry is famous for using ingo to confuse the heck out of people.

Why not use whole life insurance policies as a safe storage warehouse? With solid companies like Mass Mutual, Lafayette Life, Guardian, Penn Mutual, Security Mutual Life NY etc.

@michaelgoodrich5309

10 ай бұрын

You should read some of the financial statements from the insurance companies you listed. Many insurance companies currently have excessive exposure to commercial real estate and commercial paper. There is no way I would touch an IUL, whole life, or annuity right now.

@stefanwhitwell1420

10 ай бұрын

Great question. I think universal indexed life insurance is a great diversification play, but like anything else, you don't want to put all of your eggs in one basket and like you said, need to focus on the firms with the strongest financials.

Isnt the bank supposed to fore see possible risks for clients also?

@stefanwhitwell1420

10 ай бұрын

LMAO -- in an ideal world yes. However, they do NOT owe you a fiduciary obligation. You are responsible if you deposit your money at a bank and then lose anything in excess of the FDIC insurance. Banks whole business model involves putting your money at risk in order for them to make themselves money. That's one of the problems. There's no alignment of interest. That's why they're perfectly happy offering Americans almost nothing on their savings accounts -- and are only "happy" to offer you a higher interest rate when you threaten to leave. That's why Americans are pulling their deposits out of old-school banks by the billions and depositing them either with custodians, overseen by fiduciaries like our firm, or, more client-centric banks like SOFI -- SOFI added 500,000 new customers last quarter. -- why do you think that is? =)

Are there custodial accounts that offer high yield interest (4-5%)

@stefanwhitwell1420

10 ай бұрын

Yes. Our clients, for example, are currently getting 5.06% (pre-fee) on their cash and that is held in a segregated account at our custodian. The rate changes weekly.

@pamjames6769

10 ай бұрын

@@stefanwhitwell1420please help as I did not hear this at Schwab. And what kind of account is it? Schwab said custodial accounts are for children.

@michaelgoodrich5309

10 ай бұрын

@@pamjames6769a non retirement brokerage account at (using your example) Schwab and parking your money in US treasury money market fund will give you your 5%+ return that is backed by the government (your money is invested in sub 90 day treasuries and can be moved out to be used quickly)

Do you have a book list on amazon?

@TobyMathis

10 ай бұрын

You can find a list of our books here: andersonadvisors.com/shop/

Please make a video on these custodial or custodian (depending on the comment below) accounts. The only information I find is for accounts for children. Is this the same thing?

@TobyMathis

Ай бұрын

I appreciate your suggestion! I'll look into custodial accounts and create a video explaining them.

housing, banking, medical crisis... Am I missing any?

@joew1123

10 ай бұрын

Food, electricity, oil, war…….

@stefanwhitwell1420

10 ай бұрын

Alien invasion? Language wars? (suggesting we cancel the word "mother" and replace with "egg producer")...craziness! =)

Thanks for the information..How safe is the cashvalue in a life insirance policy? I heard its way safer than a bank

@kriskris5989

10 ай бұрын

@@islandhopper100 😂😂 i took a few policies for myself..I guess I can measure how big of a sucker I am when I get older 😀

@stefanwhitwell1420

10 ай бұрын

Great question! And smart one too. Depends on the financial health of the life insurance company. Don't fall prey for generalized statements. A weak life insurance would be worse than a strong bank for example, but the safest place structurally speaking is an account overseen by a fiduciary where your assets are held by a custodian. Back to your question -- very fact dependent. That's why, when I work with folks who need life insurance, we spend time only looking at the strongest companies and then also price compare to make sure we're getting the best available option out there for the client.

@kriskris5989

10 ай бұрын

@@stefanwhitwell1420 thanks..I make sure I only get whole life policies with mutually owned companies..I have 1 with Guardian and I am getting Pennmutual this year and will get 1 from Mass Mutual next year..I also have 1 IUL policy from Allianz..will get another IUL from Securian and looking for another solid conpany for a 3rd IUL policy..I am just treating these as bank alternatives and not investment alternatives..My number 1 investment will always be real estate followed by a small pottion in Index funds..

Same here in Australia, 250k is assured and any more than that is used by the bank and you wont get it back. You can have multiple bank accounts with 250k max. However, if a bank owns another like Westpac owns St George bank then that is classed as one account.

So would I be correct in assuming commercial real estate and mailboxes are a safe bet?

@stefanwhitwell1420

10 ай бұрын

LOL -- really? I'd be very careful with commercial real estate. See upcoming videos with Toby.

I was under the impression that FDIC insured the individual or entity not the account. For example You have 4 bank accounts in your name and each account has 250k. Your only insured for 250k not 1 mil like you think. Is this true? I heard it on the internet so it must be.

@TobyMathis

10 ай бұрын

This will help: www.fdic.gov/resources/deposit-insurance/financial-products-insured/index.html They insure the depositor - but there are lots of types of depositors. They do not insure the institution - but the insurance is automatic for certain types of accounts at institutions.

How do we make money when the house of cards inevitably falls down?

@elguapo3811

10 ай бұрын

Prison stocks

@stefanwhitwell1420

10 ай бұрын

Gotta know someone =) There are quite a few ways to profit from distressed situations, but you need expertise in that area.

Toby, I've heard a lot of people make one simple mistake... It was silicon valley, not silicone valley. Therefore it is silicon bank, rather than silicone bank. Small issue, but it makes a lot of people look uninformed... and .. therefore their insights become questionable. I've always appreciate you breaking down options and issues. So it's just some advice. Thank you. W

@TobyMathis

10 ай бұрын

Thank you for directing us to this spelling error. Was it in the captions, if so then I will be sure to fix it.

@waynehendrix4806

10 ай бұрын

@@TobyMathis I think it was just your pronounce-eation...😄

Ask your banker if they participate in IntraFi. If not, move to one that does. You can maintain your banking relationship while covering your assets.

@stefanwhitwell1420

10 ай бұрын

Robert -- in the spirit of confusion, and branding their own product, banks often have different names for what you call IntraFi...sure beats having your money exposed sitting there in excess of the FDIC limits, but check the interest rates -- there are better options out there that often pay more interest and are structurally safer and far simpler. Agree with you 100% though, if your banker doesn't even know about that kind of structure, run! I just find it sad that bankers don't offer that proactively -- that you only get better rates when you threaten to leave. What kind of "relationship" is that???

In custodial accounts, you’re referring to cash, not securities

@stefanwhitwell1420

10 ай бұрын

James, it's not your fault -- the language in our industry, the lingo, is just crazy. If you were to open an account with Whitwell & Co., LLC for example -- we'd have you open an account with our custodian -- let's say Schwab in this case. So the account we open is an account, held at a custodian, the account is segregated and can hold both cash and securities. Not to be confused with under age chidren's "custodial accounts" -- very different thing.

@stan7479

10 ай бұрын

@@stefanwhitwell1420 So what you are referring to might be referred to as an Adminstrative account opened by a financial advisor at a Schwab/Fidelity etc ? But what about an individual's trading account ( no advisor/cfp involved) at Schwab or Fidelity, this still a "custodian" account as referred to in your discussion and secured from loss (i.e. in cash not confusing possible market losses) ?

Thanks for this video, it was very informative and helpful. Now I know how to cover my ass.

@TobyMathis

10 ай бұрын

Thanks for watching

🥷🏾

I want to learn to be a feduciary.

@jameskelly9243

10 ай бұрын

You have to learn to lie with a straight face.

@waynehendrix4806

10 ай бұрын

@@jameskelly9243 Then you can also be a president.

@michaelgoodrich5309

10 ай бұрын

Educate yourself and take the series 65.

@michaelgoodrich5309

10 ай бұрын

@@jameskelly9243there has got to be a story behind this comment. Or you went to someone who sells insurance that thinks they are a fiduciary

@waynehendrix4806

10 ай бұрын

@@michaelgoodrich5309 I hope that's not the feduciary packer exam.

The expense for seg account is very pricy

@stefanwhitwell1420

10 ай бұрын

I have some very good news for you: I'm not sure that I agree with the statement that seg accounts are pricy. If you're talking about a seg-account at a bank -- YES -- that makes sense. Why? Because they can't use your money for their benefit, so in there mind, they have to charge you more fees to still hit their profit target. However -- our firm can help you open a segregated account at our custodian (Schwab) that has no fees to open or just hold money. Of course they have normal wire fees and stuff like that, but nothing any more expensive than a "normal' account.

God in Bible was angry at people burning incense and worshiping statutes that can not see, can not hear, it angered God and he punished the people worshiping false Gods

My bank just offered a personalized offer to give a bonus of $100 per $10k for four months in a poorly paying savings account. No thank you.

@stefanwhitwell1420

10 ай бұрын

LOL -- they forget that everyone now has a calculator in their phone and the usual tricks won't work anymore, ha!

That suit is too clean

@stefanwhitwell1420

10 ай бұрын

LOL

@DTSupstateNY

6 ай бұрын

Cobi a pimp He’s a nice guy on camera, big G on the streets lmao

You need to change your mic placement so we don't hear your breathing