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Listen to Johnson Brunetti's Money Wisdom with Joel Johnson CFP®, host of Better Money Television program and Forbes Contributor. Gain true financial wisdom and advice aimed at educating you about all of your financial options when it comes to retirement so you can make the best decisions for you and your family. Get information and education that can bring you peace of mind with your savings and retirement. Whether it’s your 401k account, IRA, or an underperforming asset, Joel Johnson can answer your questions and make you more aware of issues that may affect you.

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Nov 12, 2021

It's time to go back into the mailbag to find out what's on your mind. Today we talk about whether funding a business from your IRA is a good plan, investing an inheritance, and how to help adult children financially.


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What we discuss in this episode: 

0:22 – Mailbag Question #1: I’m thinking about starting my own business but I would have to pull money about $75,000 out of my IRA, which would require paying taxes and penalties. I’m not scared of those penalties but interested to hear your take on it.

3:04 – Massive wealth is built without diversification.

5:03 – Mailbag Question #2: My mom passed away and left me about an IRA of about $350,000 in it. What do I need to know about this account and how should I invest it?

6:36 – Mailbag Question #3: My kids are both in their 20s and have been furloughed. They live with us so expenses are limited, but I’m wondering how to best help them financially during this time.